CBN sacks 200 workers including senior staff and directors

On Friday, May 24, 2024, not less than 200 officials of the Central Bank of Nigeria (CBN) were dismissed from their positions.

This latest action contributes to the series of ongoing terminations within the apex bank.

It follows the prior dismissal of 117 staff members by the bank between March 15 and April 11, 2024.

A senior staff member, speaking on condition of anonymity at the Apex bank, confirmed the development on Friday night.

“Over 200 staff members were issued termination letters from the Central Bank of Nigeria on Friday.

“However, the exact number of affected employees is yet to be confirmed,” he stated.

The termination letters, obtained by our correspondent and issued by the Human Resources Department on May 24, 2024, cited organizational restructuring as the reason for the action.

The unsigned letter read, “The bank’s new strategic direction has been widely disseminated. As part of our revised mission and vision, the bank is presently undergoing a significant reorganization of its structure and human resources.

“As a result of this review, I have been instructed to inform you that your services will be terminated with effect from Friday, May 24, 2024. Your final entitlements will be calculated and disbursed to you in due course. Thank you.”

Meanwhile, this recent wave of dismissals adds to the 117 staff members let go by the apex bank between March 15 and April 11, 2024.

The terminations affected employees across various ranks, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.

In February, the Central Bank of Nigeria redeployed at least 1,500 staff members from its headquarters in Central Area to its Lagos office.

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This move was attributed to several factors, including the need to align the bank’s structure with its functions and objectives, redistribute skills to ensure a more balanced geographical distribution of talent, and comply with building regulations following repeated warnings from the facility manager and recommendations from 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.