Cardoso Continues Sacking Spree, Dismisses Another 40 CBN Staff

Eko Hot Blog reports that the Cardoso-led Central Bank of Nigeria (CBN), has sacked a fresh batch of 40 staff mostly from the Development Finance Department (DFD), in furtherance of its ongoing restructuring.

According to Daily Trust report, deputy directors and assistant directors were mostly affected with 22 from the DFD and the remaining 18 from the Medicals and Procurement Services Department.

Amongst those affected were eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.

File Image of CBN Building, Abuja

With the latest number of affected staff, the total has now reached 67, in what appears to be a series by the Olayemi Cardoso-led Board of Governors.

Recall that not less than 27 members of staff, most of them directors at the Central Bank of Nigeria, were affected by the first batch of dismissals.

CBN Sells $10,000 To BDCs At N1,101/$

Meanwhile, the Central Bank of Nigeria (CBN) has announced that it had sold $10,000 dollars to Bureau De Change operators at N1,101/$.

CBN disclosed this in a circular uploaded to its website on Monday.

The apex bank said directed the operators to sell at a spread not more than 1.5 percent above the CBN rate.

In March, the apex bank sold $10,000 to BDCs at a rate of N1,251/$ and directed the BDCs to sell to eligible customers at a rate not exceeding 1.5 per cent above the purchase price (N1,269/$1).

This followed the bank’s earlier decision to sell foreign exchange worth $20,000 to eligible BDCs across the country in February.

The statement read, ” We write to inform you of the sale of $10,000 by the CBN to BDCs at the rate of 1101/$. The BDCs are, in turn, to sell to eligible end users at a spread not more than 1.5 per cent of the purchase price.”

Naira-Dollar Exchange

This recent move follows an appeal by the Association of Bureau De Change Operators of Nigeria to the CBN to adjust and lower its applicable exchange rate below the N1,251/$ it pegged for its members.

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