Central Bank of Nigeria Dismisses 50 More Staff Amid Reorganization

In a continuation of the ongoing disengagements at the Central Bank of Nigeria (CBN), 50 additional staff members were dismissed on Monday, according to reports. The terminations spanned 29 departments within the apex bank, adding to a total of 117 layoffs in the last 20 days.

The dismissals affected various levels of employees, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff. The reasons cited for the terminations were related to “reorganisational and human capital restructuring” in line with the bank’s new strategic direction.

CBN has faced criticism from staff and stakeholders over the lack of clarity and standard criteria for the dismissals. Insiders reported that the bank’s staff are concerned and uncertain about their futures, fearing additional layoffs in other departments.

Meanwhile, vendors who have fulfilled contracts since last June are experiencing delays in payments due to concerns over possible connections with the previous administration under former governor Godwin Emefiele.

CBN officials have not provided a statement regarding the terminations, furthering concerns among employees about their job security and the bank’s future direction.