Salary Structure

CBN Governor Salary & Net Worth in Naira

In the financial world, the governor of the Central Bank of Nigeria (CBN) stands at the pinnacle of authority, shouldering significant responsibilities. Olayemi Cardoso, the current acting governor, has stepped into this crucial role, succeeding Folashodan Adebisi Shonubi. This article delves into the financial aspects of Olayemi Cardoso, exploring his monthly salary, net worth, and the perks that come with the esteemed position.

Olayemi Cardoso: A Brief Overview

Olayemi Cardoso, born on 11/07/1957, is a male professional who currently serves as the acting governor of CBN. His appointment follows the resignation of the previous governor, Folashodan Adebisi Shonubi.

Monthly Salary of CBN’s Governor

Given the immense responsibilities vested in the governor of the Central Bank of Nigeria, it is only reasonable that the compensation matches the significance of the role. Olayemi Cardoso receives a monthly salary of approximately ₦480,000, totalling an annual income of about ₦29,000,000. This substantial figure is complemented by additional allowances, including house, medical, and security allowances, as well as the opportunity to acquire a new car every four to five years.

Net Worth of Olayemi Cardoso

Accumulating wealth through years of service in various sectors, Olayemi Cardoso boasts a net worth of ₦3,800,000,000. His financial standing reflects not only the earnings during his tenure as the acting governor but also the rewards reaped from a successful career that spans both the public and private banking sectors.

Perks of Being the CBN’s Governor

The position of CBN governor comes with its share of perks. Olayemi Cardoso enjoys a fully furnished residence with dedicated staff and personal assistance. Additionally, all travel expenses are covered, and luxury accommodations are provided during official trips. Despite the demanding nature of the role, the benefits make it a lucrative package.

The financial package allocated to the CBN’s governor has not been without its share of criticism. Some Nigerians argue that the salary is excessive when compared to other officials holding similar positions. However, others contend that the governor’s responsibilities warrant such compensation and should be evaluated in a global context rather than a local comparison.


What is the salary of the CBN Governor in Naira?

The salary of the Central Bank of Nigeria (CBN) Governor is determined by government regulations. As of the latest available data, the salary is approximately ₦17 million per annum.

Does the CBN Governor receive any additional allowances or benefits?

Yes, apart from the base salary, the CBN Governor may receive various allowances and benefits, including housing, transportation, and medical allowances. These are aimed at ensuring the Governor can effectively carry out their duties without financial constraints.

How does the CBN Governor’s salary compare to other government officials?

The CBN Governor’s salary is among the highest in the Nigerian public sector. However, it is important to note that salaries can vary depending on the specific roles and responsibilities of different government officials.

What factors can influence the CBN Governor’s net worth?

The net worth of the CBN Governor can be influenced by various factors, including any assets they may own prior to assuming office, investments made during their tenure, and other sources of income such as speaking engagements or board positions.

Is the CBN Governor’s net worth publicly disclosed?

While the salary of the CBN Governor is a matter of public record, their net worth may not always be publicly disclosed. However, in the interest of transparency and accountability, there may be instances where details of their assets and liabilities are made available, especially during official audits or declarations of assets.


As Olayemi Cardoso continues to navigate the responsibilities of the acting governor of the Central Bank of Nigeria, his financial profile sheds light on the intricate balance between public service and personal compensation. The perks and criticisms surrounding the governor’s salary exemplify the ongoing dialogue about the appropriate remuneration for high-ranking government officials.

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