The Central Bank of Nigeria (CBN) has dismissed 14 directors and over 300 other officials, as part of a significant restructuring under Governor Olayemi Cardoso.
This latest move brings the total number of staff affected by recent changes at the CBN to over 500.
Truthlive news gathered that an additional 200 termination letters have been signed and will be issued in the coming days.
The dismissed directors include: Clement Oluranti Buari, Director of Strategy Management, Dr. Blaise Ijebor, Director of Risk Management, Lydia Ifeanyichukwu Alfa, Director of Internal Audit, Jimoh Musa Itopa, Director of Capacity Development, Muhammad Abba, Director of Human Resources, Rabiu Musa, Director of Finance, Dr. Mahmud Hassan, Director of Trade & Exchange, Dr. Ozoemena S. Nnaji, Director of Statistics, Dr. Omolara Duke, Director of Financial Markets, Chibuike D. Nwaegerue, Director of Other Financial Institutions Supervision, Chibuzo A. Efobi, Director of Payments System Management, Haruna Bala Mustafa, Director of Financial Policy and Regulation, Rakiya Shuaibu Mohammed, Director of Information Technology, Benjamin Nnadi, Director of Reserve Management.
The restructuring impacts 29 departments, including positions ranging from directors to executive trainees. Many of the affected staff were branch operations officials across the CBN’s 36 state branches and headquarters in Abuja. Some who had been recently transferred from headquarters to branches also received termination notices via email.
A sample termination letter stated: “In line with our new mission and vision, the Bank is currently undergoing a significant organizational 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.”