By Babajide Komolafe

The Central Bank of Nigeria, CBN, recorded 261 percent increase in its operating surplus to N123 billion for the financial year ended December 31, 2015.

The Central Bank of Nigeria head office in Abuja.

Consequently, CBN will remit N98.4 billion, representing 80 percent of its operating surplus (or net income), into the federation account as required by the Fiscal Responsibility Act 2011.

This was contained in the CBN Consolidated and Separate Financial Statements for the year ended 2015, released yesterday by the mana-gement of the apex bank.

The statements revealed that Group Operating Income rose by N287.65 billion or 64.6 percent to N732.51 billion from N444.86 billion in 2014, while Group Operating Expenses rose by N185.72 billion or 42.8 percent to N618.86 billion from N433.14 billion.