Most times people ask how much a CBN staff receives as salary, whether they are being paid in dollars or naira. Again if you are interested in seeking a job in CBN or want to know much about the Central Bank of Nigeria, then this post is for you because it provides vital information’s about CBN.
The central bank of Nigeria was established under the CBN Act of 1958 and started full operation on July 1, 1959. They are tasked at supervising all the affairs of other Nigeria banks. They create laws, monitor debts, control exchange rates etc.
The salary of a CBN staff are quite interesting, their salaries differ in positions, meaning that every staff does not earn the same salary.
Their Salary structures are grouped in this following order:
- Graduate trainees
- Entry level staffs
- Branch Managers
- Loan officers
- Data Analysts
- Executive Officers
For fresh graduates in the banking sectors in Nigeria, you will undergo special training/programs to help ground you in the task ahead. This training may last for three months or more. Within that period, each of the trainees gets #43,000/month.
This level is when you might have completed the special training/program. At this level the CBN pays you #122,000 monthly. That is to say #1,464,000/year.
Loan officers are those in charge of loans applications in the bank. They evaluate, authorize and recommend approval of loan to individual/corporate bodies. This level comes after some years of experience in the banking sector. For loan officers in CBN, their salaries are from #573,000/month i.e. #6,876,000 per year.
Staffs at this level are paid #647,000 monthly or #7,764,000 annually. This is one of the highest paying levels in the CBN. They are charged with inspecting, modeling data, cleansing and transferring data. They also support decision making, discovering useful information’s and help business operate more effectively.
CBN does not have enough branches, that notwithstanding, some of their branches are managed by branch managers and their salary are huge. CBN pays a branch manager #732,000 monthly and a total of #8,784,000 yearly. Branch manager’s responsibilities include managing resources and staff, developing and attaining sales goals, delivering exceptional customer service, and growing the bank.
The deputy governor of CBN salary is #3.69M/month and the chief security officer earns #578k monthly.
The branch controller earns 1.01M/month.
In conclusion, the CBN salary structure may change any time, but be rest assured that we will always keep you updated.