On Friday, over 200 officials of the Central Bank of Nigeria (CBN) were dismissed from their positions.
This recent wave of terminations follows the sacking of 117 employees between March 15 and April 11, 2024.
The affected staff includes directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking employees.
Sources within the bank verified the dismissals, confirming that the number of those terminated exceeds 200.
They revealed that the recent dismissals included older directors who were not affected by the previous round of retrenchments.
One of the sources, in a brief 20-second call with our correspondent, simply stated, “It is true and confirmed.”
The source, unable to provide further details due to concerns about surveillance, added that the move has caused significant apprehension among staff at all levels, as the management has not specified any clear criteria for these decisions.
Another reliable authority confirmed the information, indicating that additional dismissals are expected in the coming months, occurring in staggered phases.
The official stated, “It is real and involves more than 200 officials, but the exact number is unconfirmed. The sacking is happening in phases, making it difficult to confirm the total number at this time. However, it is not less than 200.
“The dismissed individuals include directors and other cadres, with directors being the most noticeable. Some older directors not affected in the previous round are now included.”
A copy of the termination letter, issued by the Human Resources Department on May 24, 2024, and obtained by our correspondent, indicated that the policy aims to reorganise the organisation for more effective operations.
The unsigned letter 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 effective 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 staff members of the Central Bank of Nigeria were redeployed from the headquarters in the Central Area Abuja to its Lagos office.
The CBN explained that this action was driven by several factors, including the need to align the bank’s structure with its functions and objectives, and to redistribute skills for a more even geographical spread of talent.
Additionally, the move was in compliance with building regulations following repeated warnings from the facility manager and recommendations from the Committee on Decongestion of the CBN Head Office.
Efforts to obtain a reaction from the Director of Corporate Communication, Hakama Sidi Ali, were unsuccessful as she did not respond to multiple calls or text messages sent to her.
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