CBN Begins Search for New Directors Following Leadership Restructuring

The Central Bank of Nigeria (CBN) has begun the process of appointing new directors to replace those who were relieved of their positions, including several who retired approximately 11 months ago.

An internal advertisement published by the apex bank, which was reviewed by Daily Trust, provided this information.

The advertisement indicates that the CBN is looking to fill seven key positions: Director of the Corporate Communications Department (CCD), Director of the Financial Policy and Regulation Department (FPRD), Director of the Other Financial Institutions Supervision Department (OFISD), Director of the Procurement & Support Services Department (PSSD), Director of the Banking Services Department (BKSD), Director of the Medical Services Department (MSD), and Director of the Information Technology Department (ITD).

As of this report, the CBN website lists a total of 13 departments, each currently overseen by a coordinator.

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According to the advertisement’s specifications, ideal candidates must be confirmed staff members of the bank at the deputy director level, with a minimum of three years in that position by the advertisement date.

Additionally, deputy directors with two years or less until retirement are not eligible to apply. Each applicant may submit only one application for the listed positions, as multiple submissions could result in disqualification.

Applications are to be submitted by 4 PM on Friday, September 27, 2024, to the specified email address, with only shortlisted candidates being contacted.

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Earlier this year, reports has it that at least 27 staff members, primarily directors, were affected by the first phase of reorganization at the CBN. This included eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.

So far, CBN Governor Olayemi Cardoso has relieved 17 directors he inherited from the previous administration, with four others recently retiring upon reaching the statutory retirement age of 60. The restructuring move, described as “Re-Organisation” in letters to the affected directors, emphasized that it aligns with the bank’s new strategic direction, mission, and vision.

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