Salary Structure of Central Bank of Nigeria

Salary Structure of Central Bank of Nigeria gives you the necessary information you may need about the Salary…

Salary Structure of Central Bank of Nigeria gives you the necessary information you may need about the Salary Structure of Central Bank of Nigeria.

Central Bank Salary Structure 

Salary Structure of Central Bank of Nigeria
Salary Structure of Central Bank of Nigeria – Photo Source:

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Central Bank of Nigeria (CBN) is the head bank in Nigeria. This bank is a bank of banks. CBN is the apex bank in Nigeria with its Headquarters (CBN Headquarters) located at Plot 33, Abubakar Tafawa Balewa way, Central Business District, Cadastral Zone, Abuja, the Federal Capital Territory.

In Nigeria, a country where everyone is looking for a well-paying white-collar job and unemployment has risen to the climax, Central bank is a place where most fresh graduates look out for in their quest for a job.

Central Bank of Nigeria (CBN) makes provision for the activities of other banks in Nigeria and regulates their affairs. It is a wish of most graduates in Nigeria to work in Central bank due to the impressive salary they pay their staff.  CBN’s entry-level basic salary is fair compared to what other top companies in Nigeria pay their workers.

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The Banking sector in Nigeria, just like the oil and gas sector is one of the highest salary-paying sectors. Although there are some differences in the number of different banks in Nigeria that pay their workers as there is no specific law on banks to have a fixed amount for their staff. The Central Bank does not have many branches across the country.

Being employed to work in Central bank is a great opportunity but it is also important that you also have to know how the bank pays its staff.

Salary Structure of Central Bank of Nigeria

Here are the Positions/Levels and Salary Structure of Central Bank of Nigeria:

Graduate Trainees’ Salary

At the initial stage of your employment in the central bank, it is compulsory for you to undergo training. You will undergo some months of training which will introduce you to the banking system. As a trainee, CBN will pay you N43, 000 on monthly basis, while the training lasts.

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Entry-Level Staff’s Salary

After you have completed this training that is meant to introduce you to the banking system, you will start with the rank of entry-level staff. The Central Bank pays a monthly salary of N122, 000 to its entry-level staff per month, according to department and unit.

This is about N1, 464,000 per year. However, the salary for this category of staff is not fixed as it increases over time depending on the time staff spend with the bank.

Loan Officers’ Salary

The loan officer rank is one of the ranks a staff can be promoted to. With the right and suitable qualifications, a staff of the CBN can be promoted to the level of a loan officer. Loan officers at CBN are paid a monthly salary of N573, 000 monthly.

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Credit Analysts’ Salary

The credit analyst rank is a rank that is usually occupied by staff. Credit analysts are paid a lot of money. The CBN pays its credit analyst N647, 000 per month. This salary is equivalent of N7, 764,000 per year.

Branch Managers’ Salary

Due to the fact that Central bank has a limited number of branches across the nation, it is rare to find those who are appointed to such a position.

However, if you, however, become a branch manager at the Central Bank, you will be paid N732, 000 per month. The salary gives a total of N8, 784,000 per year in addition to some mouthwatering benefits that are exclusively for the position.

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Central bank of Nigeria also gives out some other benefits to its staff like sponsoring the children of their staff through school, free lunch, travel allowances, health allowances, accommodation allowances (for senior staff), etc.

When you work in a place of such relevance and magnanimity, you need to not just work for the pay but also build up yourself in a professional manner.

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