CBN Sacks 200 Workers Amid Economic Hardship

The Central Bank of Nigeria (CBN) has reportedly dismissed 200 staff members amidst the country’s economic difficulties.

A senior staff member, who requested anonymity, confirmed this development to newsmen on Friday night, stating, “Over 200 staff members were issued sack letters from the Central Bank of Nigeria on Friday. However, the exact number of dismissed employees remains unconfirmed.”

As of Saturday morning, Hakama Sidi Ali, the Director of Corporate Communication, had not commented on the latest round of dismissals.

This wave of terminations follows the dismissal of 117 staff members by the apex bank between March 15 and April 11, 2024. Those affected included directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.

In February, the CBN redeployed at least 1,500 employees from its headquarters in the Central Area to its Lagos office. Despite the controversy this decision sparked, the CBN maintained that the move was necessary to align the bank’s structure with its functions and objectives, and to ensure a more even geographical distribution of talent. The bank also cited compliance with building regulations, following repeated warnings from the facility manager and recommendations from the Committee on Decongestion of the CBN head office.