The Central Bank of Nigeria (CBN) is currently undergoing a major restructuring under its new governor, Olayemi Cardoso. This restructuring has led to the dismissal of a number of high-ranking officials.
Initially, seven directors were sacked, and an additional twelve senior executives are set to be let go. The terminations primarily affect those appointed during the tenure of former governor Godwin Emefiele.
These dismissals are part of a larger effort to overhaul the CBN’s operations and address inefficiencies and alleged misconduct.
The Development Finance Department has been particularly affected due to issues related to the management of various development funds, including the Anchor Borrowers Scheme and the Real Sector Support Facility.
This restructuring has caused significant uncertainty and concern among CBN employees. The criteria for these dismissals have not been clearly communicated, leading to widespread apprehension about job security and the future direction of the institution.
