CBN’s net assets remain low – Report

The Central Bank of Nigeria (CBN) saw its total liabilities close in on its assets at the end of the 2022 financial year, a sign of pressure on the apex bank.

Its financial statements released on Friday show that its total liabilities stood at N56.3 trillion as of December 31, 2022 while its assets were valued at N57.9 trillion, translating to net assets of N1.6 trillion.

More than anything, the rapid growth in the CBN’s bailout for the Federal Government since 2014 has exposed how the latter’s financial challenges have worsened in recent years.

Read also: CBN splashes N507bn on ‘national security’ despite rising insecurities

Further findings showed the CBN recorded total assets of N52 trillion compared to a total liability of N52 trillion in 2021.

In 2020, the apex bank recorded total assets of N45.8 trillion compared to total liabilities of N44.7 trillion.

The CBN also posted a total asset of N38.2 trillion compared to N37 trillion in 2019.

Note:
Corrected introduction on ratio of asset to liability
Removed quotes suggesting the bank's insolvency