CBN Fails to Publish Financial Statements Since 2022

The Central Bank of Nigeria (CBN) has failed to publish its annual financial statements since the 2022 financial year, despite legal obligations under the CBN Act. Section 50 of the Act mandates the CBN to prepare, submit, and publish audited financial statements annually, with specific timelines for submission to the President and the National Assembly.

As of now, the latest available report is from 2022, and there have been no public releases for 2023, 2024, or 2025. Financial analyst Kalu Aja expressed concern over this delay, noting the contradiction in the CBN's requirement for annual returns from banks.

This situation follows the CBN's publication of consolidated financial statements for the first time since 2015 on August 11, 2023. Additionally, President Bola Tinubu appointed Olayemi Cardoso as CBN Governor on September 15, 2023, after the removal of former Governor Godwin Emefiele in June 2023, who is currently facing multiple corruption-related charges.