Central Bank Of Nigeria (CBN) vs Federal Inland Revenue Service (FIRS) Salary Structure
When choosing a career in the Nigerian public sector, understanding the salary structure, allowances, benefits, and career progression of various federal agencies is one of the most important factors job seekers consider. Two of the most competitive and sought-after federal institutions in Nigeria are the Central Bank of Nigeria (CBN) and the Federal Inland Revenue Service (FIRS).
Both agencies offer structured salaries, allowances, job security, and opportunities for career growth — but their pay scales and benefits differ significantly due to their mandates, responsibilities, and internal policies.
In this comprehensive article, we’ll break down and compare the salary structures, allowances, career progression, and key differences between CBN and FIRS so you can make a more informed decision.
What Are CBN and FIRS?
Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN) is Nigeria’s apex financial institution. It is responsible for regulating monetary and banking policy, stabilizing the naira, managing foreign reserves, and ensuring a sound financial system. Employment at the CBN often involves roles in economic research, banking supervision, currency management, and financial regulation.
Federal Inland Revenue Service (FIRS)
The Federal Inland Revenue Service (FIRS) is the government agency responsible for tax assessment, collection, and accounting for revenues accruable to the Federal Government of Nigeria. FIRS staff work in tax audit, compliance, enforcement, policy, and revenue administration services.
CBN Salary Structure Explained
The CBN has its own internal salary structure, separate from the standard civil service grading. Although exact figures are usually confidential, estimates based on verified sources show the following ranges for 2025:
Entry Level
- Graduate Trainee / Analyst: ~₦120,000 – ₦250,000 monthly
- Fresh trainees often receive a stipend during training stages, with increases upon confirmation.
Mid Level
- Assistant Manager – Manager: ~₦350,000 – ₦700,000 monthly
- At this stage, employees handle departmental responsibilities and policy implementation.
Senior Level
- Senior Manager / Principal Manager: ~₦750,000 – ₦950,000 monthly
- Experienced staff in leadership roles earning competitive packages.
Executive Level
- Assistant Director / Deputy Director: ~₦1,000,000 – ₦1,600,000 monthly
- Director and above: ₦2,000,000 – ₦3,500,000+ monthly
- Governing roles like Deputy Governor and Governor receive the highest pay, often exceeding ₦3 million per month excluding special allowances.
Additional CBN Benefits
- Housing allowance, transport allowance, hazard allowance and other perks
- Comprehensive health insurance and leave bonuses
- Training and international exposure for senior staff
- Official vehicles for top ranks and access to research grants
FIRS Salary Structure Explained
FIRS payroll is tied closely to the CONRAISS (Consolidated Revenue Service Salary Structure) system, which aligns staff pay with national civil service standards but with enhancements due to the technical nature of tax work.
Entry Level
- Tax Assistant / Officer (GL 7–9): ₦180,000 – ₦300,000 monthly
- New employees are placed in grade levels based on qualification and experience.
Mid Level
- Senior Tax Officer / Principal Officer (GL 10–13): ₦300,000 – ₦450,000 monthly
- These employees handle audits, compliance enforcement, and supervisory roles.
Senior Level
- Chief Officer / Assistant Director (GL 14–15): ₦450,000 – ₦600,000 monthly
- Responsibilities include strategic leadership and tax policy implementation.
Executive Level
- Deputy Director / Director (GL 16–17+): ₦600,000 – ₦1,000,000+
- Directors and senior executives often manage large revenue departments and national tax programs.
FIRS Additional Benefits
FIRS also offers allowances such as:
- Housing and transport allowances
- Duty tour/field allowances
- Medical and health insurance
- Annual leave bonus and pension scheme
VIEW ALSO : FIRS vs Other Government Agencies in Nigeria
Side-by-Side Salary Comparison: CBN vs FIRS
Here’s how the two agencies compare across typical positions in 2025:
| Position Level | CBN Monthly Pay (₦) | FIRS Monthly Pay (₦) |
|---|---|---|
| Entry Level | ~₦120,000 – ₦250,000 | ₦180,000 – ₦300,000 |
| Mid Level | ~₦350,000 – ₦700,000 | ₦300,000 – ₦450,000 |
| Senior Level | ~₦750,000 – ₦950,000 | ₦450,000 – ₦600,000 |
| Executive | ₦1,000,000 – ₦3,500,000+ | ₦600,000 – ₦1,000,000+ |
Key Insights:
- Although FIRS may offer higher starting salaries at the entry level, CBN’s mid- and senior-level packages tend to grow faster over time.
- Executive pay at CBN typically surpasses that of FIRS, especially at directorial and governor levels.
Factors Influencing Salaries at CBN and FIRS
Role and Grade Level
Salary depends on your grade level and specific job responsibilities. Higher managerial and specialist roles earn significantly more.
Professional Qualifications
Certifications such as ICAN, ACCA, CFA, and relevant tax credentials can increase earning potential and accelerate promotion.
Experience and Performance
Years of service and performance reviews often lead to pay increments and promotions at both agencies.
Career Growth and Job Security
CBN
- Offers strategic career paths in finance, economics, banking policy, and research.
- Promotions often tied to performance, exams, and certifications.
FIRS
- Provides structured civil service progression, performance bonuses, and field exposure opportunities.
- Experienced tax professionals can move into higher tax policy and leadership roles.
Both institutions offer pension plans, health insurance, and annual leave bonuses, making them attractive career options in Nigeria’s public sector.
Conclusion
When comparing CBN and FIRS salary structures, it’s clear that:
- CBN generally pays higher at middle and senior levels, with substantial allowances and executive benefits.
- FIRS offers competitive starting salaries and steady progression, particularly for tax and audit professionals.
Your choice will depend on your career interests, qualifications, and long-term goals. Both agencies offer secure jobs with growth potential, but CBN leans more toward higher pay and specialized financial roles, while FIRS is ideal for tax professionals and revenue strategists.
Frequently Asked Questions (FAQs)
1. Which pays more: CBN or FIRS?
CBN typically offers higher salaries at mid-level and senior positions, while FIRS can have competitive entry-level pay.
2. Do both agencies offer allowances?
Yes, both CBN and FIRS provide housing, transport, medical, and other allowances.
3. Does CBN pay more for executives?
Yes — director and executive level staff at CBN often earn significantly higher monthly pay than their counterparts at FIRS.
4. Can professional certifications increase salary?
Yes — credentials such as ICAN, ACCA, CFA, or relevant tax certificates may lead to faster promotions and higher pay.
5. Is salary the only factor to consider when choosing between CBN and FIRS?
No — you should also consider career interests, work environment, job security, and growth opportunities alongside pay.