Over 200 CBN Officials Terminated In Ongoing Disengagements

• 200+ CBN officials terminated, adding to ongoing disengagements.

• Various positions affected, including directors and lower-ranking staff.

• Staff apprehensive due to lack of specified criteria for decisions.

EKO HOT BLOG reports that over 200 officials of the Central Bank of Nigeria on Friday, were terminated, joining the ongoing wave of disengagements within the apex bank.

This adds to the 117 staff sacked between March 15th and April 11, 2024.

The termination affects various positions including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff, as confirmed by reliable sources within the bank to Punch.

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One of the sources in a 20-second call with our Punch simply stated, “It is true and confirmed.”

The staff who could not disclose further details for fear of being tapped added that the move had caused palpable apprehension amongst staff of every cadre as the management had not specified any standard criteria for the decisions.

Another undeniable authority confirmed the information, indicating that additional dismissals are expected in the months ahead, spread out across staggered phases.

The official said, “It is real and is even more than 200 officials but the actual number is unconfirmed yet. The sacking is coming in staggered phases and that is why we can’t confirm the number yet.

“But it is not less than 200. The sacked persons include directors and other cadres but the ones that are easily known are the directors. Some of the old directors that were not affect

CBN officials

ed during the last round of sacks are now affected.”

The sack letter obtained by Punch and issued by the Human Resources Department on May 24, 2024, indicated that the policy was to reorganise the organisation for effective operations.

The letter, lacking a signature, read, “The new strategic direction of the bank has been widely publicised. In line with our new mission and vision, the bank is currently undergoing a significant organisational and human capital restructuring process.

“As a result of this review, I have been directed to notify you that your services will not be required with effect from Friday, 24th May 2024. Your final entitlements will be calculated and paid to you in due course. Thank you”

In February, at least 1,500 members of staff of the apex bank of Nigeria were redeployed from the headquarters located at Central Area to its Lagos office.

At the time, the CBN said the action was necessitated by several factors, including the need to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.

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It added that it was also in compliance with building regulations, as indicated by repeated warnings from the facility manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.

Efforts to get the reaction of the Director of Corporate Communication, Hakama Sidi Ali, was not successful as she did not respond to several calls sent across to her or reply the text messages to her line.

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