The Central Bank of Nigeria (CBN) has reportedly laid off over 200 officials, including directors, deputy directors, and other staff members, in its latest round of disengagements. This move adds to the 117 staff members who were sacked between March 15th and April 11, 2024.
According to sources within the bank, the termination of appointments affects staff of various cadres and includes older directors who were not affected by the previous round of retrenchment. The sources revealed that the move has caused apprehension among staff members, as the management has not specified any standard criteria for the decisions.
A sack letter issued by the Human Resources Department on May 24, 2024, stated that the policy is aimed at reorganizing the organization for effective operations. The letter, which lacked a signature, informed the affected staff that their services would no longer be required, effective from May 24, 2024, and that their final entitlements would be calculated and paid to them in due course.
This development comes after the CBN redeployed at least 1,500 members of staff from its headquarters to its Lagos office in February, citing the need to align the bank’s structure with its functions and objectives, redistribute skills, and comply with building regulations.
Efforts to get a reaction from the Director of Corporate Communication, Hakama Sidi Ali, were unsuccessful, as she did not respond to calls or text messages.