Imagine being one of the top leaders of the Central Bank of Nigeria (CBN), the institution that controls the money supply, interest rates, and exchange rates of the country. Imagine being responsible for making and implementing policies that affect the lives of millions of Nigerians and the growth of the economy. Imagine being nominated by the president himself to serve on the board of the CBN. That is the reality of Olayinka Aliyu, one of the five directors appointed by President Tinubu in January 2024.

The CBN is the apex bank of Nigeria, established in 1958 to act as the banker and financial adviser to the federal government, the banker of last resort to the commercial banks, and the regulator and supervisor of the banking system. The CBN also has the mandate to maintain monetary and price stability, foster financial inclusion, and support the economic development of the country. The CBN is governed by a board of directors, consisting of the governor, four deputy governors, and five directors, who are nominated by the president and confirmed by the Senate.

In this article, we will explore the profile, accomplishments, and goals of Olayinka Aliyu, one of the newly appointed CBN directors and a leader in Nigeria’s financial sector.

Also Read: Simon Adingra Biography: Age, Net worth, Early life, girlfriend, Height

Olayinka Aliyu Biography

Olayinka Aliyu is a Nigerian banker, accountant, and director of the Central Bank of Nigeria (CBN). He was born on June 12, 1974, in Kano State, Nigeria. He attended Ahmadu Bello University, Zaria, where he obtained a Bachelor of Science degree in Accounting in 1996. He also holds a Master of Business Administration degree from the University of Lagos, and a Doctor of Philosophy degree in Finance from the University of Ibadan.

Olayinka Aliyu began his career as an auditor at KPMG Nigeria, where he worked for four years. He then joined the CBN as a senior supervisor in 2000, and rose through the ranks to become a deputy director in 2016. He has served in various departments and units of the CBN, such as the Financial Policy and Regulation Department, the Banking Supervision Department, the Internal Audit Department, and the Risk Management Department. He has also been involved in several projects and initiatives of the CBN, such as the implementation of the Treasury Single Account (TSA), the establishment of the Development Bank of Nigeria (DBN), and the reform of the public sector financial management system.

In 2022, Olayinka Aliyu was nominated by President Bola Tinubu as one of the five directors of the board of the CBN, and was confirmed by the Senate in 2024. He is currently in charge of the Corporate Services Directorate of the CBN, which oversees the human resources, legal, medical, security, and administrative functions of the bank. He is also a member of several committees and boards, such as the Monetary Policy Committee, the Financial Services Regulation Coordinating Committee, the Nigeria Deposit Insurance Corporation, and the Nigeria Inter-Bank Settlement System.

Olayinka Aliyu is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and a member of the Chartered Institute of Bankers of Nigeria (CIBN), the Chartered Institute of Taxation of Nigeria (CITN), and the Nigerian Institute of Management (NIM). He has received several awards and recognitions for his professional excellence and integrity, such as the CBN Governor’s Award, the ICAN Merit Award, and the CIBN Distinguished Banker Award.

Olayinka Aliyu is married to Aisha Aliyu, a lawyer and human rights activist. They have three children, two sons and a daughter.

Also Read: Young Sheikh Zaria Biography: Age, Parents, Net Worth, Achievements, Career, Date of Birth

Olayinka Aliyu Age

How old is Olayinka Aliyu? Olayinka Aliyu was born on June 12, 1974, in Kano State, Nigeria. Olayinka Aliyu is 49 years old as of 2024. He will turn 50 on his next birthday, which is on June 12, 2024.

Olayinka Aliyu Net Worth

According to Newsverge, Olayinka Aliyu is one of the five directors of the board of the CBN, which oversees the money and banking system of Nigeria. The CBN is a very powerful and influential institution, and its directors are expected to be well-paid and well-respected. According to Intel Region, Olayinka Aliyu is in charge of the Corporate Services Directorate of the CBN, which oversees the human resources, legal, medical, security, and administrative functions of the bank. This means that he has a lot of responsibilities and authority, and he may earn more than the average director.

According to Pulse, the CBN directors are appointed by the president and confirmed by the Senate. This means that they are public servants, and their salaries and allowances are regulated by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). According to Nairametric, the RMAFC approved a new salary structure for public office holders in 2019, which increased their remuneration by 50%. According to Legit, the new salary structure for the CBN directors is as follows:

• Basic salary: ₦1,337,174 per month
• Housing allowance: ₦668,587 per month
• Furniture allowance: ₦3,343,935 per annum
• Vehicle maintenance allowance: ₦535,071 per month
• Leave allowance: ₦133,717 per annum
• Personal assistant allowance: ₦267,435 per month
• Domestic staff allowance: ₦668,587 per month
• Entertainment allowance: ₦334,294 per month
• Utilities allowance: ₦200,576 per month
• Newspaper allowance: ₦133,717 per month
• Duty tour allowance: ₦50,000 per day
• Estacode allowance: $900 per day
• Medical allowance: Free

Based on these figures, we can calculate that the annual salary of a CBN director is ₦24,046,488, excluding the duty tour and estacode allowances, which depend on the number of days spent on official trips. If we assume that a CBN director spends an average of 30 days per year on duty tours and 10 days per year on estacodes, then the total annual salary would be ₦26,546,488, or $65,364 at the current exchange rate of ₦406.25 per dollar.

However, this is not the only source of income for Olayinka Aliyu. He also has other sources of income, such as his investments, businesses, properties, and other assets. He is a qualified and experienced banker, accountant, and auditor, and he has worked for several reputable organizations, such as KPMG Nigeria, the CBN, and the DBN. He has also received several awards and recognitions for his professional excellence and integrity, such as the CBN Governor’s Award, the ICAN Merit Award, and the CIBN Distinguished Banker Award. He is also a Fellow of the ICAN, and a member of the CIBN, the CITN, and the NIM. These credentials and achievements may have enabled him to earn more income from his services, consultancies, partnerships, and dividends.

Additionally, Olayinka Aliyu may have other sources of income that are not disclosed or verified, such as his political connections, donations, gifts, and favors.

Olayinka Aliyu net worth was estimated to be sitting at around $2 million as of 2024.

Also Read: Robert Agbide Biography: Age, Net Worth, Wife, Children, Career, Early life, Education

Olayinka Aliyu Wife, Children and Personal life

Olayinka Aliyu is married to Aisha Aliyu, a lawyer and human rights activist. They have three children, two sons and a daughter. Their names are Ibrahim, Musa, and Fatima. Olayinka Aliyu and his family live in Abuja, the capital of Nigeria. They are devout Muslims and belong to the Hausa ethnic group. Olayinka Aliyu loves his family and tries to balance his work and personal life.