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Fear grips workers as CBN sacks 200 directors, senior managers, others

In addition to the long list of ongoing disengagements at the Central Bank of Nigeria (CBN), no fewer than 200 officials of have been sacked on Friday, May 24.

The latest number adds to the list of 117 staff sacked by the apex bank between March 15 and April 11, 2024.

The termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff.

Top sources who are staff of the apex bank confirmed the sack noting that those sacked are not less than 200.

They revealed that affected persons include older directors who were not affected by the last round of retrenchment.

It is true and confirmed,” a source said on the condition of anonymity.

According to the staff member, the latest sack has caused apprehension among staff of every cadre as the management has not specified any criteria for the decisions.

Another source confirmed the information, indicating that additional dismissals are expected in the months ahead, spread out across staggered phases.

The official said, “It is real and is even more than 200 officials but the actual number is unconfirmed yet. The sack is coming in staggered phases and that is why we can’t confirm the number yet. But it is not less than 200.

“The sacked persons include directors, and other cadres but the ones that are easily known are the directors. Some of the batch of old directors that were not affected during the last round of sacks are now affected.”

The sack letter was issued by the Human Resources Department on May 24, 2024, said the policy was to reorganise the organisation for effective operations.

The letter, lacking a signature read: “The new strategic direction of the bank has been widely publicised. In line with our new mission and vision, the bank is currently undergoing a significant organisational and human capital restructuring process.

“As a result of this review, I have been directed to notify you that your services will not be required with effect from Friday, 24th May 2024.

“Your final entitlements will be calculated and paid to you in due course. Thank you.”

The article was originally published on Politics Nigeria.

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