Full List: 14 CBN Directors Recently Consumed by ‘Hurricane Cardoso’

In a sweeping overhaul dubbed ‘Hurricane Cardoso,’ at least 14 of the 17 directors who initially weathered the initial wave of dismissals at the Central Bank of Nigeria (CBN) have now been relieved of their duties. This significant move is part of a broader series of reforms led by Yemi Cardoso, who assumed leadership of the apex bank.

Cardoso’s tenure has been marked by aggressive restructuring efforts aimed at reducing the workforce and overhauling the bank’s operations. The initial phase of retrenchments, which commenced in March, saw a number of senior staff from the tenure of former Governor Godwin Emefiele spared. However, the recent developments have seen even these individuals shown the exit door.

The total number of staff affected by this purge is nearly 600, according to CBN sources, with virtually all personnel within the Governor’s Directorate dismissed. Additionally, engagement letters for another 200 employees have been signed and will be issued shortly, signaling further staff reductions.

Below is the full list of affected directors:

• Clement Oluranti Buari, Director, Strategy Management
• Dr. Blaise Ijebor, Director, Risk Management
• Lydia Ifeanyichukwu Alfa, Director, Internal Audit
• Jimoh Musa Itopa, Director, Capacity Development
• Muhammad Abba, Director, Human Resources
• Rabiu Musa, Director, Finance
• Dr. Mahmud Hassan, Director, Trade & Exchange
• Dr. Ozoemena S. Nnaji, Director, Statistics
• Dr. Omolara Duke, Director, Financial Markets
• Chibuike D. Nwaegerue, Director, Other Financial Institutions Supervision
• Chibuzo A. Efobi, Director, Payments System Management
• Haruna Bala Mustafa, Director, Financial Policy and Regulation
• Rakiya Shuaibu Mohammed, Director, Information Technology
• Benjamin Nnadi, Director, Reserve Management

This extensive reorganization under Cardoso’s leadership is seen as a critical step towards reshaping the CBN and addressing longstanding inefficiencies within the institution.