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How Much Does The CBN Pay?

Folks, does anyone know how much the Central Bank of Nigeria pays staff?

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You may expect to get anything from 100 000 naira and more. It all really depends on the position you take in the bank. Surely, such opportunities are great, but they may not be open in your state in Nigeria. How about finding a job in another state? Below you can find a link to the article with tips on this subject. May be the best thing you can do is to out of your state and find great employment at another.

READ ALSO: How to find a job in another state

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Looking for a great job at Nigerian banks? To get it you have to pass a special test first. Find out how to do that and get instructions to boost your chances for success.

READ ALSO: How to pass aptitude test for Nigerian banks?

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Central Bank of Nigeria is one of the top banks with the highest fees and one of the most desirable places of employment for Nigerians. It is a great place to start your career. They pay higher salaries than other local similar institutions to compete with the foreign companies and attract the best possible candidates to fill their job positions. After a short training a person may get over 120 000 naira per months.

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The question of how much CBN pays was never answered.

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Only few people tried to answer d question dat was really asked.

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@poster

guy forget money.u wan work or u no wan work,na wah o

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Folks,

I want to thank you all for contributing to this forum. Actually, I've just been recruited by CBN just ysterday and I thought it ok to let everyone of you know about it. I interviewed sometime in January for a Senior Position. For some of you who wrote tests in April or sometime, this position is not part of the general recruitment drive. I was interviewed in January. Goodluck with your tests and hope you are invited for interviews and recruited subsequently. Well, I would be leaving the UK soon after June to resume work in July.

Thanks all for your contributions.

Amaladede

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@viewlekan

Why is your entire post commented? Olodo. What an incoherent rabble of an outburst. I suppose it's no more than can be expected from you! . Somehow, I'm starting to think your problem may be illiteracy. If that's the case, maybe I can help close that knowledge gap.  On the other hand, if it's something of a psychiatric nature, then I'm afraid I'm not qualified to assist. However, I retract all my previous responses to your rants and suggest you seek help elsewhere! Dunce.

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@ Amaladede

I agree with your statement and you have made good points. But you must separate a sound concept (starting your own business and financial freedom asap) from implementation most people do not take the time to learn the skills necessary for success in business (it cant be acquired by merely working for long and networking). Its great to start your bid for financial freedom early because in business you learn from your mistakes (there will be mistakes). Working until 65 and getting a pension sounds good but has its own risks.

First the new pension act has made pension available for everybody but the draw back is that your pension is now a function of your contributions, your employer's contribution and the performance of your account based on you fund managers acumen, market performance etc. So the edge of CBN (pension) is now gone. Besides if anybody runs a business part time and does it well he can well leave work before 65 to run it well. To be working at 65 because you HAVE to rather than because you WANT to is not fun at all.

Besides we need to create the entrepreneurial spirit to generate more jobs and grow the economy. If we all look for jobs, soon there wont be enough to go round. Some must take the risk to start businesses. They may fail at first but those who learn from it eventually succeed and the reward for the risk is quite high. I still believe working until one is 65 is a recipe for disaster but thats my personal view. Working and hoping my stable pension will be enough to take care of me when am old is an unacceptable risk. Maybe we should take time to review the new pension act.

@sMilA

Am surprised you are mentioning pension as an advantage of working in CBN. The revised pension act has nullified that advantage by changing everything from Defined benefit plan to a defined contribution plan

sorry for the long post.

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CBN is definitely the finest place to start work in Nigeria. job security is better than other other high paying outfits & u hv a pension. and dont hv targets or night shifts. but then u hv to come up against the red tape & geopolitics of govt outfits-sth has got to give!

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One of the problems we have is that we buy wholesale some of the arguments for financial freedom, retiring before 50, having your own business etc etc etc without looking at fundamental issues such as our gifts, talents, temperaments, dispositions etc. Everyone (especially Nigerians) wants to achieve financial freedom at 45 at all costs without looking at basic fundamentals. Would you rather work and accomplish yourself in a professional area, with a good and stable pension, retire at 65 and then manage your business full time(a business which of course you might have nurtured while working for a company or govt). This "I go make am" mentality in Nigeria is spurning a lot of business which are doomed and comatose right from the beginning because of lack of skill, professionalism, experience and networking neccessary for achieving success. Not everyone is destined for "instant touch" success. Some would take time and build a career working for others (public or private companies). Along the line they cultivate relationships, build networks, build trust, acquire experience and hone their skills. These combine effectively to propel their personal ventures to success.

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I am surprised how fixated we are on salary and benefits and jobs and work and positions! I think at this time we should be thinking of starting businesses to generate cashflow which will lead to financial freedom. working until youre 65 is a recipe for disaster! I dont care where youve worked, UK, US or the Moon, employees are at a severe disadvantage!

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Back to the main question. I've worked in a bank in Nigeria, and I've worked in a government office wich works very closely with CBN, all before i left the country. CBN is a better deal anyday. You may see their pay check and think its just okay , don't be decieved. There are loads of monies paid weekly, monthly quarterly from all angles, for all sorts of crazy things.

I would have written some more, but I won't, cos I'm presently trying to get back in there.

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On the Contratry I think you are the one that is very slow,It beats my imagination on how crude and unintelligent some people sound on this forum(you being a classic example).The postor simply said he was a young man at 35 which is undisputable by any standards,your assertions about only in Nigeria would you find people referring to people under 50 as young is simply daft,In the US Obama is 47 and is still regarded as a young ,vibrant man who is still capable of embrasing and instigating change.

A lot of people like you are first to complain that you dont get jobs and blaim other people for your misfortunes but from your post (a lot of Ibgo yearns-Mariguana) this would not come as a surprise.Enlighten us about your achievements before you call another person an .If you have personal grievances,deal with them. Do not come to a forum and embarass yourself.People like you are the one of the various reasons why Nigeria is not achieving its full potential-the inability to have a proper arguement or discussion without using foul langauge and exhibiting very negative emotions without actually making any sense.

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Somehow I suspect this is quite prevalent. And therein lies the challenge. I suppose one can expect this will be less in private companies than they are with public organizations?

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An individual with such background would be able to secure jobs at Directors level anywhere in Nigeria. However, Directorship jobs in Nigeria sometimes are very political, but you would need a lot of professional clout, networking, attitude and good interpersonal relationships to close the deal. That's what I reckon.

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The CB doesn't seem like a bad place to work at all. Expecially considering the possibility of owning your own venture while in employment, as seems common out there.

On a related note, can someone please suggest what position / figure someone with the following education / experience can realistically expect to attain in naij?

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MSC (Information Systems), MBA  (Finance) (Both from reputable UK institutions)

10 years consulting (Big 5)

6 years Investment Bank (operations) - (@Director)

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I hear companies are now holding back on further recruitment due to the economic conditions?

I'm enquiring for somebody behalf, so please so any advice / insight will be much appreciated.

Thanks guys,

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Haba Josho, which one you no dey? frankky is kinda calling ur bluff dats all, I hope you no fail recruitment test recently, if no, why you go dey hala? lol

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From your contribution I can see you're slow!. @Bigbois has a point and articulated his view and moved on, so did @poster. You still dey there dey battle your mental retardation. FYI 35 is much nearer to middle age than you think. Young man, yes. Very very young, child, infant, NO.

Na true bigbois talk, na only naija people like you go dey call papa pickin! If you haven't reached 50 in naija, you are still a baby, too young, too inexperienced, too this and that, when 40 na the average age of directors for some of the biggest companies in the world.  .

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na wah o, sometimes i just wonder,@josho pray to lose a child at 35 ,why i said 35 is a very young age in whatever context is based on a lot of ecoonmic statistics i dont wish to go into now,i have never heard of anyone retired at the age of 35 in any labour force in the world,the poster was talking of advancing himself and he said he is 35, to me considering his achivements he is very young,when bankole became the speaker of the house of reps at 36 there was a stir in the press why do you think that was?(dumbass)

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35 is a very young age in whatever context

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Boss, Goodluck in all your endeavours

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Bigbois, at least at CBN, you write tests and attend interviews for every position regardless. Before getting promoted as well, you write exams. dats the stuff.

TDBrasco:- thanks for offering to help. I'm not looking 4 help though. I can take care of myself. If I don't get it on merit, then "to hell with the damn stuff". I know how Nigeria is, but who cares about nepotism, tribalism, quota system(federal character principle) and all the stuff they do down there. I'm prepared to cope with the peculiarities of 9ja once i get the job, but am not prepared to "lie flat on the ground" for any "Baba", "Senator", Ooni of Ife or Ezego I of Ihiala, or Emir of Ajangbadi before I get a job. Sounds strange? I got a different vibe.

Thanks

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Bigbois,

thanks for your post, well, I'm not here to tout my accomplishments. When you said, 35 is "not so young", logically, inferences could be drawn. Is it as per age? or as per accomplishments? or as per looking for jobs? or as per what?. These are the indices we would normally associate with age. 35 is not very young in a lot of ways (i have to give you credit for that), however, relating to the topic of discussion, it is a very young age. You probably dont know the job am going for so you cant make inferences, lol. On the lighter side, I cant leave Europe and come down to 9ja for an entry level position or a mid-level position (I'm too old for these)---lol. Yet some ppl in 9ja who are 40 are begging for entry level positions (do you see?). At the test centres, I was amazed that men of 40(graduates) were writing some tests, and find out what position (very low level). So you could see at 35 am already too big for those. Make your conclusions,

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@poster,

I don't question your accomplishments. In fact, I congratulate you for achieving so much, so early in life. We really thank God for your life. But you lost me with your reference to accomplishments etc. The question didn't put any of that in context did it?  I only commented on your reference to 35 being "VERY YOUNG".  Anyhow, like they say, it's no big deal. Good luck with your job hunt btw!

On another note, age discrimination is everywhere. It is such a topical issue in most parts of the world, including the developed countries you refer to.

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My inlaw who just got recruited earns about N180,000. What he told me o!. Could be more.

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My bros, money is not every thing. If you are looking for money and you come into CBN because of that, then you are dreaming. I can tell you first hand that they are not paid much when you compare them with all these commercial banks.

One thing with CBN is that you have time for your self and no stress of marketing and meeting target, when you are sleeping, you sleep well not worrying about who to meet for Money.

So when they call you for interview, go if you can manage with the stipend they are being paid, though you enjoy in the end if you are not greedy.

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Bigbois, thanks for your comment. If 35 is not young for you, then you're living in Alice's Wonderland. I obtained a PhD at the age of 32 and also worked for a lot of international organisations. Well, most guys in 9ja are still looking for MSc degrees at the age of 40 and are still starting careers at that point. So what's the stress with you? Maybe you are deluded by the spate of discrimination by commercial banks in Nigeria against people over 25 or 30. Come to Europe or America, that nonsense does not apply. You can be 50 and still get a job in a bank. period. Performance is not linked to age. The more you get older, the more your value increases, especially if you are a professional.

Back to the topic. Thanks everyone for offering information about remuneration at the CBN. My guess is that it's a good place to work, although things may go slow as a result of bureaucracy, but it would still be better than most other ministries in 9ja where things go at tortoise and snail speed.

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Like any organisation, your pay would depend on your skill, qualification and position appled for.

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@Poster:

Well the pay depends on the level you are. For the level of a senior supervisor (level 8, 9, 10), i think the basic salary hovers around 80k, while that of an assistant manager (level 7) is around the range of 90k -100k. Though those amounts are not that mouth watering, you get to enjoy lots of other financial benefits in the endless list of allowances like lunch, security, domestic, transport, course training, duty tour e.t.c

In all, it is a good place to work, with little stress. The thing is you just have to cope with the cut-throat corporate politics being played in the bank - you have to learn a lot about being diplomatic.

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well, good pay is subjective. What about career advancement, flexible working hours, prestige and good working environment? These are the stuff I have much value for. I live overseas but I'm considering moving back to naija to work. I wrote the CBN tests with all other ppl and am looking forward to the results. However, I'm still thinking of the pay before I can agree to attend any interviews assuming I would be selected to attend interviews. I like Nigeria cos the place is relaxed, cosy and warm. Anyone here works for CBN? any salary structure information would be appreciated.

Ppl here, pls understand that some of us have hussled in Europe and America and are looking for places to come back to and settle. We may not be looking for very flashy monied jobs of course, since we have all chased after money abroad, working nightshifts, doing odd jobs and stuff like dat. We might have built our own houses, have cars in nigeria and just want to come back and live a quiet and relaxed life. I'm still very young (35) so life is still ahead of me.

Any advice will be appreciated.

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YOU CAN EARN OVER 2.4 bILLION nAIRA IN LESS THAN FOUR MONTHS. JUST GET CLOSE TO THE CABAL PRESENTLY THERE MANIPULATING THE NAIRA AND THE TRUTH ABOUT THE ECONOMY.

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I dont have any idea how much they pay staffs, but my uncle who is a retirred pensioner from cb earns about #300,000 a month

for them to pay their pensioners that much, their staff must earn a lot as well

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central bank pay well so forget it my Brother.

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