CBN reportedly sacks 200 workers

A massive shake up has rocked the Central Bank of Nigeria as the apex bank has reportedly initiated another round of terminations affecting executive directors and approximately 200 staff members.

According to viral reports on social media, the affected employees hail from various departments including Trade and Exchange, Procurement and Support Services (PSSD), DFD, and FPRD.

This latest dismissal adds to the long list of ongoing disengagement at the apex bank.

So far, 317 staff have been disengaged by the CBN in the past 2 months.

According to Daily Trust, the dismissals are likely connected to the CBN’s refocus from development finance interventions.

Cardoso had previously voiced concerns about such interventions, arguing that they take the bank outside its core function and could distort the economy.

The termination of appointments affected directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.