The Central Bank of Nigeria (CBN) dismissed no fewer than 200 employees on Friday, adding to the lengthy list of employees who have been let go from the apex bank.
This brings the total number of employees fired by the bank between March 15 and April 11, 2024, to 117.
Directors, deputy directors, assistant directors, principle managers, senior managers, and lower-level employees are all impacted by the termination of appointments.
Reputable CBN employees confirmed the layoffs to our correspondent on Friday, stating that the number of dismissed employees exceeded 200 but did not fall below that threshold.
They disclosed that older directors who were not affected by the last round of layoffs were included in the new move.
In a conversation with our correspondent, one of the sources only said, “It is true and confirmed.”
Employees who were unable to provide further information for fear of being bugged also stated that there was a noticeable sense of unease among employees across all levels of the organisation because the management had not established any uniform standards for making decisions.
The information was verified by another unquestionable authority, and it seems that more firings are planned in the upcoming months, spaced out over several periods.
The official said, “It is real and there are even more than 200 officials, but the actual number is unconfirmed yet. The sacking 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 old directors that were not affected during the last round of sacks are now affected.”
According to the sack letter obtained by our correspondent from the Human Resources Department of the CBN on May 24, 2024, the organisation’s policy was to reorganise for efficient 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, May 24, 2024. Your final entitlements will be calculated and paid to you in due course. Thank you”
The CBN redeployed at least 1,500 employees from its Central Area headquarters to its Lagos office in February.
The CBN claimed at the time that a number of reasons, including the necessity to realign the bank’s organisational structure with its goals and activities and reallocate capabilities to guarantee a more equitable distribution of talent across geographies, made the action necessary.
It further stated that it complied with building codes, as demonstrated by the facility manager’s repeated warnings, the Committee on Decongestion of the CBN Head Office’s findings, and its recommendations.
At the time of filing this report, Hakama Sidi Ali, the CBN director of corporate communication, had yet to speak on the development.
