CBN Cuts Personnel Cost by N193bn, Workers’ Expenses Decline 32.4% to N402.76bn

The Central Bank of Nigeria reduced personnel expenses by N193.14 billion, bringing workers’ expenses down 32.4% to N402.76 billion. However, currency management costs increased 83.8% to N579.21 billion, while total operating expenses more than doubled to N2.60 trillion, according to the report.