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Ikiodiete George
- 3 Min Read
Cbn Vs Boi Salary Structure & Allowance Comparison (2025 Official Figures)
If you’re deciding between a career at the Central Bank of Nigeria (CBN) or the Bank of Industry (BOI), then you're on the right page. These two institutions are not just reputable—they also offer solid compensation packages. But who pays more in 2025? Let’s break it down.
Overview of Salary Comparison (2025)
|
Category |
CBN |
BOI |
|
Entry-Level Salary |
₦220,000/month |
₦200,000–₦250,000/month |
|
Graduate Trainee Pay |
₦130,000–₦180,000/month |
₦100,000–₦150,000/month |
|
Assistant Manager Salary |
₦300,000–₦400,000/month |
₦250,000–₦350,000/month |
|
Branch Manager/Controller |
₦1 million+/month |
₦1.5 million–₦2.5 million/month |
|
Director-Level Salary |
₦1.5 million+/month |
₦2 million–₦3 million/month |
Central Bank of Nigeria (CBN) Salary Structure
Entry-Level and Trainees:
- Fresh graduates typically start with ₦220,000 monthly.
- Graduate trainees earn between ₦130,000 to ₦180,000 during their training period.
- Entry-level roles receive housing, transport, and utility allowances in addition to their base salary.
Mid-Level Staff:
- Assistant Managers earn between ₦300,000 to ₦400,000 per month.
- Managers enjoy added perks like official vehicles, estacode, and high bonuses.
Senior Staff & Executives:
- Directors and controllers take home ₦1.5 million or more monthly.
- These roles come with robust pension contributions, exit packages, and professional development sponsorships.
Bank of Industry (BOI) Salary Structure
Entry-Level and Trainees:
- Graduate trainees earn around ₦100,000 to ₦150,000 monthly.
- Fully confirmed entry-level staff earn between ₦200,000 to ₦250,000.
- BOI offers a dynamic salary structure that adjusts based on performance and internal evaluations.
Mid-Level Staff:
- Mid-ranking officers such as auditors or banking officers earn ₦250,000 to ₦350,000.
- Staff in this bracket also enjoy subsidized medicals, vehicle loans, and housing support.
Senior Staff & Executives:
- Branch controllers and top-level staff can earn ₦1.5 million to ₦2.5 million monthly.
- High-ranking executives in BOI benefit from performance bonuses, executive perks, and structured retirement packages.
Allowance & Perks Comparison
|
Allowance Type |
CBN |
BOI |
|
Housing Allowance |
Yes (very generous) |
Yes (moderate to high) |
|
Transport Allowance |
Provided |
Provided |
|
Utility Allowance |
Included in monthly pay |
Included |
|
Health Insurance |
Full family coverage |
Standard with staff upgrades |
|
Leave Bonus |
One month basic pay |
One month basic pay |
|
Vehicle Loan |
Available for top-level staff |
Available to qualified staff |
|
Performance Bonus |
Paid annually |
Paid based on KPI performance |
|
Retirement Gratuity |
Provided |
Provided |
Summary Table: Monthly Pay Overview
|
Role |
CBN Salary (₦) |
BOI Salary (₦) |
|
Graduate Trainee |
130,000 – 180,000 |
100,000 – 150,000 |
|
Entry-Level Officer |
220,000 |
200,000 – 250,000 |
|
Assistant Manager |
300,000 – 400,000 |
250,000 – 350,000 |
|
Branch Manager/Controller |
1 million+ |
1.5 million – 2.5 million |
|
Director |
1.5 million+ |
2 million – 3 million |
Frequently Asked Questions (FAQs)
Q: Which pays more at entry level—CBN or BOI?
CBN slightly edges out BOI with a starting salary of ₦220,000, but BOI still offers competitive benefits and bonuses.
Q: Which organization has better long-term earning potential?
BOI appears to pay more at the very top with executive salaries reaching over ₦2 million monthly, while CBN offers greater consistency across all levels.
Q: Do both offer pension and severance benefits?
Yes. Both institutions provide retirement packages, though CBN has a more structured severance plan.
Q: Which has better training opportunities?
CBN is known for frequent technical and financial training, while BOI offers strong in-house professional development as well.
Q: Is the salary structure fixed?
No. Salaries are reviewed periodically based on federal regulations, internal budgets, and performance.
Final Verdict
Both CBN and BOI offer attractive salaries, but here’s a quick breakdown:
- CBN is ideal if you're looking for steady growth, structured pay grades, and elite training opportunities.
- BOI is perfect if you’re chasing higher potential earnings at the executive level and want a more dynamic performance-based environment.
So whether you're a fresh graduate or a senior professional, either choice will give you a rewarding banking career in 2025.