Tension At CBN As Cardoso Sacks Eight Directors Who Worked With Emefiele
Early retirement letters have been sent to eight directors of the Central Bank of Nigeria (CBN) who had close collaboration with the outgoing governor, Godwin Emefiele.
Yemi Cardoso, the current governor of the CBN, approved the action.
The directors are being asked to leave the CBN. Initially, some of them were transferred to FSS 2020, a branch of the bank under the Governor's Directorate, whose headquarters are in the Maitama District of Abuja as of November 24, 2023. They were held in a sort of pool to await “further directives.”
Although they could not specify exactly under what circumstances, sources claim that some of the directors have already received their disengagement letters since Friday.
According to sources, some directors have received letters of disengagement since Friday, however it was unclear exactly under what circumstances those directors were let go.
“We don't know whether they were given early retirement or their appointments were terminated outright,” according to source.
Despite the inability of sources to verify whether the individuals receiving early retirement letters had been found guilty of any offenses, the majority of our sources stated that the primary reason for the affected officials' termination was “their close collaboration with the bank's immediate former governor, Mr. Godwin Emefiele.”
Employees at the CBN are extremely concerned about this move because they believe it may be a stepping stone towards further layoffs by the existing management.
Recall that the CBN moved no fewer than 150 employees from one of the bank's 29 departments, the Banking Supervision Department (BSD), to Lagos.
Reactions to the decision were not uniform across the nation; many claimed it was an attempt to remove Northern-born staff members from the organization.
Since the majority of the nation's 24 banks have their headquarters in Lagos, the CBN refuted the rumors, stating that they were a part of a legitimate bank reorganization intended to guarantee that the frequent on-site examinations of the banks were meticulously carried out.
The intention to free up space at the bank's corporate offices was also mentioned as a contributing factor in the decision to relocate.
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