CBN net income drops to N35 billion


Godwin Emefiele, CBN Governor
The Central Bank of Nigeria (CBN) net income has dropped to N35.4 billion in 2014 from N209.6 billion in 2013, according to a financial statement report released by the apex bank on Friday in Abuja.
“The net income of the bank for 2013 was to N209.6 billion while that of 2014 is N 35.4 billion,” the report said.
It said that 80 per cent of the amount had been remitted to the Federal Government in accordance with the Fiscal Responsibility Act.
According to the report, the balance of 20 per cent has also been transferred to the Reserves within the …Read More

Source:: PM Newspaper