CBN Sacks 8 Directors, 32 Others

The Central Bank of Nigeria (CBN) has reportedly proceeded with its staff restructuring by terminating the employment of 8 directors and 32 individuals, primarily from the Development Finance Department (DFD).

The impact primarily affected deputy directors and assistant directors, with 22 individuals from the DFD and the remaining 18 from the Medicals and Procurement Services Department.

A minimum of 27 staff members, primarily directors at the Central Bank of Nigeria, were impacted by the initial wave of terminations, with additional layoffs expected in the near future.

Eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers were impacted by the situation.

The recent increase in the number of staff affected has brought the total to 67, suggesting a trend under the leadership of the Olayemi Cardoso-led Board of Governors.