Drastic Change Occurs as CBN sacks 50 more officials

The Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso has again made a drastic change in the organization as he approves the dismissal of fifty officials from their positions.

It was gathered that the latest dismissal adds to a long list of ongoing disengagements in the apex bank and cuts across 29 departments.


It was learned that the termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff.

According to report, at least 117 officials have been dismissed from the apex bank in the last 20 days and it is expected that the disengagement will continue for months.

The newspaper said the sendoff of the disengagement letters, which started on March 15, has continued every other week with noticeable anxiety amongst staff of every team as the management has not specified any standard criteria for the decisions.

A senior management source, who does not have permission to speak on the matter, told the newspaper that the sacking spree will continue till the end of April.

Also speaking, staff affected by the latest development said, the lack of clarity or justification for the sack has made them conclude that they are victims of a personal vendetta by Cardoso and the deputy governors.

Recall it was reported that not less than forty individuals have been sacked from their positions in the CBN in what is seen as a major shake-up in the apex bank.

Those affected include eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.

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