The Central Bank of Nigeria (CBN) generated N1.91 trillion in interest income on Overdraft facilities it granted at a rate of MPR+3%, according to its 2022 audited financial statement.
The interest income on Overdraft facilities make up 66.55 percent of total revenue as the lender of last resort published its accounts for public scrutiny as it seeks a transparent strategy.
Analysis of the financial statement shows total interest income and similar charges were up 46.42 percent to N2.87 trillion in December 2o22 from N1.96 trillion the previous year.
Net interest income spiked by 75 percent to N1.82 trillion in the period under review from N1.04 trillion the previous year.