Wondering how much CBN pays its staffs this year? Or you want to apply for a job there and you’re currently searching for CBN salary structure for staffs? You’re in the right place as this post will cover the salaries of various employees at Nigeria’s apex bank in detail + more.
The Central bank of Nigeria(CBN) is a bank the supervises the affairs of all other banks in Nigeria. It is also known as the Apex bank in Nigeria.
This bank was established on July 1, 1959, under the CBN Act of 1958 in Nigeria.
Some of the major functions of CBN include control and supervision of Nigerian the banking sector, monitor debts and balance payments of the federal government, create laws for banks, control the current exchange rates and more.
Banking in Nigeria has turned out to be one of the most sought after white collar jobs in Nigeria and has made it a career path for most young school leavers.
As the demand for this profession increases, more students are willing to study Banking in Nigerian universities.
The banking sector, just like the oil and gas sector offers one of the best salary structure for staffs in Nigeria and CBN is a bank too(although a higher bank = more salary).
Many of these graduates who studied banking or other banking and finance related courses still see working at CBN as a good achievement because of the robust salary scale which they offer staffs who work there.
Truth to be told, it’s not easy to get a job in CBN these days because of the multitude of university graduates who apply there anytime they conduct recruitments for new staffs.
In this article, we’ll be discussing the complete salary scale of the apex bank in Nigeria(CBN). It will also contain the CBN salary structure for graduate trainees, entry-level staffs, branch managers, loan officers, and data analysts.
CBN Salary Structure For Staffs (2020)
All banks Nigeria don’t pay the same salaries to all staffs in their respective organizations and the Central bank of Nigeria is no exception to this fact.
Salaries in almost all organizations are grouped into various levels ranging from the fresh graduates(new staff) to the overall MD/CEO/Director/Chairman of the company.
At the Central bank of Nigeria, staff salaries are also grouped into various levels. These levels include:
- Graduate trainees
- Entry-level staffs
- Branch managers
- Loan officers
- Data analysts
- Executive officers
As a fresh graduate of banking and finance related courses in Nigeria and you’ve been employed by CBN, you’ll undergo a special training program which is to educate you on how the banking system at CBN works.
This training program will last for some months and you’ll be paid about 43,000 Naira on a monthly basis.
After completing the special program for fresh graduates, you’ll be promoted to the Entry level. At this level, the Central bank of Nigeria will pay you 122,000 Naira per month and an equivalent of 1,464,000 Naira if calculated on a yearly basis.
After serving for some time as an Entry-Level staff, you will(or might) be promoted to the level of a Loan Officer.
Like the name implies, loan officers at the central bank are the staffs in charge loan applications in the banks. The job of a loan officer includes evaluating, authorizing or recommending approval of loan applications for people and/or businesses.
The CBN salary structure for a loan officer is 573,000 Naira on a monthly basis.
Some staffs who might get lucky and be promoted to this level, why others must pass through the level of a loan officer.
The Data analysis level is one of the highest paying levels in the central bank of Nigeria. Data analysts at the CBN are paid 647,000 Naira monthly and this salary amounts to 7,764,000 Naira yearly.
This is the hardest level to get into as a normal staff at the Central bank of Nigeria as branch managers are very scarce due to the low number of CBN branches nationwide.
Branch managers at the central bank of Nigeria are paid a total of 732,000 Naira per month and a total of 8,784,000 Naira yearly.
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