BASH

Business Development | Wealth Management & Advisory | Other Interests: Strategy, Education, Community Development

[Olufemi AWOYEMI @OlufemiAwoyemi]

CBN's Missing Published Accounts and the Discipline of Institutional Disclosure

@cenbank sets the reporting calendar for institutions under its supervision, requiring periodic returns, audited annual financial statements and regulatory approval before publication.

As of July 2026, the Annual Report and Statement of Accounts section of the CBN website carries no entry dated later than 31 December 2022. The three most recent entries in that section are Annual Economic Reports, while the latest full Annual Report and Statement of Accounts listed is the 2019 edition. https://t.co/unxCuFT3M2

The Bank has published audited financial statements for later periods, including summary consolidated and separate financial statements for the year ended 31 December 2024, released in May 2025. The CBN also continues to publish economic reports. These documents serve different disclosure and accountability functions from a full annual report.

The outstanding issue is the publication of the annual reports absent from the archive, which, on the current listing, means 2016, 2017 and 2020 to 2025, and whether the accounts for 2026 are transmitted to the President and the National Assembly within the two-month statutory window provided under Section 50 of the Central Bank of Nigeria Act 2007 and published thereafter.

In this review, the analyst examines the interruption in the annual report series, the resulting accountability gap and the corrective steps required to restore timely, clear, complete and consistent institutional disclosure.

Three Different Reports, Three Different Accountability Functions
Public discussion often treats three distinct CBN publications as interchangeable, although each serves a different reporting and accountability function.

First, the economic report reviews macroeconomic conditions, monetary aggregates, external sector developments and price behaviour. It is primarily an analytical account of the economy, rather than a report on the Bank's institutional performance. (See Table)

Second, consolidated and separate financial statements present the Bank's audited financial position under IFRS Accounting Standards. The catch-up publication of August 2023 covered 2016 to 2022 and reported group profit after tax of N103.85bn for 2022. The 2024 summary statements recorded external reserves of $38.80bn at year-end, compared with $36.60bn a year earlier. (See Table)

Third, the Annual Report and Statement of Accounts combines the audited numbers with a broader account of the year, covering policy decisions and outcomes, operating costs, intervention programmes, currency operations, reserve management, risk exposures, board activity and the Bank's assessment of performance against its mandate. (See Table)

This makes the annual report the principal stewardship document. Financial statements show the position of the balance sheet, while economic reports describe conditions in the economy. The annual report connects policy decisions, institutional actions, costs and outcomes. Its absence leaves a material gap between the audited figures and the Bank's account of its conduct during the year.

A review of the archive itself points to a classification problem. Its three most recent entries under Annual Report and Statement of Accounts are annual economic reports, while the audited financial statements are stored elsewhere. The tables in the report separate the entries by document type and indicate where the later financial statements were located.

Why the Reporting Gap Matters
The missing years cover major changes in Nigeria's monetary and financial system, including foreign exchange market reform, sustained monetary tightening, the banking recapitalisation programme, the winding down of legacy intervention portfolios, the settlement of foreign exchange forward obligations and a material restructuring of the CBN balance sheet.

@nassnigeria legislators, investors, rating analysts, financial institutions and the public require an authoritative institutional account of these developments, rather than a reconstruction from separate releases and secondary sources.

The effects are cumulative. Regulatory credibility is weakened when the supervisor's own reporting timetable falls short of the discipline expected from regulated institutions.

Market confidence is affected because central bank disclosure informs assessments of policy predictability, institutional governance and monetary policy transmission. A summary financial statement cannot provide the operational and governance narrative contained in a full annual report. Legislative oversight is also constrained when the available record consists of figures and fragmented publications rather than a complete report that can be examined and debated.

Nothing in the public record reviewed by Proshare establishes concealment, and no such inference is made. Possible explanations include audit scheduling, restatement work, archive migration or internal review of a substantially reformed balance sheet.

Any of these may be reasonable and understandable, but the absence of a public explanation invites less generous readings than a delay the institution has itself accounted for.

Restoring the Annual Reporting Record - Closing Thoughts and Outlook
The CBN should publish any outstanding Annual Reports and Statements of Accounts without further delay. It should explain the interruption in the series, provide a dated timetable for restoring annual publication within the statutory framework, and maintain separate, clearly labelled archives for annual reports, economic reports and audited financial statements.

Users should be able to establish what has been published, for which year and in what form without guesswork and avoidable uncertainty. The Bank should apply to itself the standards of timeliness, completeness and transparency that it requires from

The CBN has invested considerable effort in rebuilding policy credibility through orthodoxy. Closing the annual reporting gap would reinforce that work. Supervisory authority is strengthened when disclosure is complete, timely and easy to verify. This necessary disclosure discipline is sustained through consistent publication.

READ>>> https://t.co/mpXA8swk8l via @proshare

cc: @cibnigeria @SECNigeria @cacnigeria1 @FDC_ltd @BAAC_Nigeria @IoDCCGNigeria @TheIoDNigeria @frcnigeria @ngxregco @cisnigeria @officialNESG

[BASH @Bashir_Saheed]

@DrJoeAbah I just said do too. If they win this match, it’s pure luck!

[BASH @Bashir_Saheed]

@DrJoeAbah @RinsolaAbiola You are a blessing to the Republic. You don’t just point out or objectively criticize what’s not working, you also work with Govt to make sustainable changes and impact. That’s the kind of public engagement I love. Detribalized and non-partisan!

[BASH @Bashir_Saheed]

@FabrizioRomaxno My G.O.A.T

[⌖ @utdhans]

🚨BREAKING: Cristiano Ronaldo has just sent two private planes full of medication equipment and supplies to the earthquake victims in Venezuela.

[BASH @Bashir_Saheed]

@akinalabi Congratulations Oloye. This is commendable and I am glad to hear about it as an Ibadan man & a football enthusiast. Wish you success

[Oloye Akin Alabi @akinalabi]

Introducing My Football Club, Ibadan United FC.

I’ve always loved the game of football. As you all know, I’m a die-hard fan of Shooting Stars, a club I have supported for over 40 years, right from when I was a kid.

It’s a club I even sponsored for a few years at one point.

However, I’ve always wanted to own my own football club. But I didn’t want to have a club in Ibadan that would play against Shooting Stars.

About five years ago, my friend, @biolakazeem and I came up with the idea of establishing one in Lekki, Lagos, where I have a home and where the head office of my businesses is located.

So, we formed Lekki United and competed in the NLO, the third tier of the Nigerian football league.

After about two years, European scouts started noticing some of our players and began approaching us about collaborations which includes taking them abroad.

That was when it dawned on me.

My people in Egbeda/Ona-Ara Federal Constituency, my people in Ibadan, and indeed Oyo State in general, should be the ones benefiting from this opportunity.

That was when I decided to rebrand the club and move it to Ibadan.

The issue of playing against Shooting Stars should not be a problem. In fact, we can even help Shooting Stars. The club can serve as a pipeline for talent to the Oluyole Warriors and to clubs abroad. More importantly, it is a pathway to help talented footballers in my constituency and across Oyo State realise their dreams.

So, here we are.

Ibadan United Football Club is here. We play in the 3rd Tier of Nigerian Football, the NLO

We will make history together.

Akin Alabi
Hon. Akin Alabi
Egbeda/Ona-Ara Federal Constituency
Ajia Olubadan of Ibadanland

[CharteredStockbroker @cisnigeria]

Happening Today!

Join us virtually at 3:00pm as the Institute invests Dr. Fiona Nyako Ahmed Ahimie, FCS as its 14th President & Chairman of the Governing Council, while also honouring the Immediate Past President, Mr. Oluropo S. Dada, FCS.

https://t.co/c3nVChbwIL

#CISNigeria

[Olufemi AWOYEMI @OlufemiAwoyemi]

Aradel Holdings’ FY 2025 audited result is less a routine earnings update than a marker of strategic scale.

Revenue rose 20% to N699.4bn, while profit after tax increased 192% to N757.3bn, supported by the Group’s expanded interest in ND Western and theresulting 53.3% effective equity position in Renaissance Africa Energy Company.

The balance sheet has also been reset, with total assets rising to about N10.0trn as the acquisition effects were consolidated.

For investors and analysts, the unresolved issue is now the quality and durability of the earnings base being assembled.

The 2025 numbers reflect both stronger operating delivery and significant business-combination effects, including gains that may not repeat at the same scale. The more important watchpoint is therefore 2026, when the enlarged portfolio’s full earnings contribution, production profile, cash-generation capacity and capital-allocation discipline should become more visible.

Yet, we have to issue a full analyst note on @aradelholdings

READ UPDATE >>> https://t.co/tMMWzpfbnO @proshare @TheAnalystNG

[BASH @Bashir_Saheed]

@DrJoeAbah Why’s UK politics like this? Looks unstable and fickle! I think they are lucky they have well established institutions that have stood the test of time unlike what we face in Africa.

[BASH @Bashir_Saheed]

@DrJoeAbah Well done Dr. I thought you do this at home not aware you’ve gone to the public gym. Any insight about this?

[BASH @Bashir_Saheed]

@FabrizioRomano He didn’t win AFCON. Please remove it.

[Chelsea FC @ChelseaFC]

Eid Mubarak from everyone at Chelsea Football Club. 💙🌙

[Premier League India @PLforIndia]

Nine-season wonder 👑

@LFC | @MoSalah

[BASH @Bashir_Saheed]

@CesarAzpi @Chelsea_NGR @Osasuna @OM_Officiel @ChelseaFC @Atleti @SevillaFC @SEFutbol @ChampionsLeague @EuropaLeague @fifaworldcup_es Legend!

[César Azpilicueta @CesarAzpi]

Dear football,

Today, I want to share with you that this season will be my last as a professional footballer. After so many years living my dream, I feel it’s time to start a new chapter in my life.

Being honest, even though I have been preparing myself for this moment, I found it hard to write this letter. After 20 seasons , many people have played an important role in my career.

When I first kicked a ball as a child in Pamplona with my schoolmates, I never imagined the amazing journey ahead. I’m grateful for every moment: the wins, the tough losses, the challenges, and most of all, the people I’ve met and the friendships I’ve made along the way.

To my teammates, coaches, and every staff member at all the clubs I’ve been lucky to be part of, thank you for helping me grow as a person and a player every day. Wearing the shirts of CA Osasuna, Olympique Marseille, Chelsea FC, Atlético de Madrid, Sevilla FC, and representing my country at the biggest stages has been a true privilege. Every moment has meant so much to me…

[Dr Joe Abah, OON @DrJoeAbah]

Congratulations to Prof Segun Aina on his appointment as JAMB Registrar. He told me how he was very intentional about becoming a Professor at a young age by simply studying the requirements and dedicating himself to producing the required peer-reviewed publications. Smart guy.👏🏽

[Chelsea FC @ChelseaFC]

19/05/12 📆

A night forever etched in our history. ✨

[JJ. Omojuwa @Omojuwa]

This is an opportunity for @Ojukwu_Bianca and @NigeriaMFA to start a necessary conversation with these foreign missions. The ask is not complicated. @UKinNigeria is already leading on this; the standard exists and it works.

I wish this also fell under @BTOofficial and the Ministry of Interior. Because they never miss opportunities like this. Fingers crossed on immediate actions.