CBN faces overhaul as Cardoso dismisses 50 Officials

By Innocent Raphael

Governor Olayemi Cardoso has approved the dismissal of fifty officials from the Central Bank of Nigeria (CBN), marking another wave of ongoing staff cuts across 29 departments, as earleir reported by WesternPost.

The termination affects various ranks, including directors, deputy directors, and lower-ranking staff.

According to several media reports, at least 117 officials have been sacked, within the past 20 days, with expectations of continued disengagements for months to come.

It has also been gathered that dismissal letters have been distributed since March 15, causing unease among staff due to the absence of clear criteria for these decisions.

A senior management source disclosed to the newspaper that the dismissals will persist until the end of April.

Employees affected by the recent actions speculate that they are victims of a personal vendetta by Governor Cardoso and deputy governors, citing a lack of clarity or justification for their termination.

This follows previous reports of forty individuals being ousted from their positions in what appears to be a significant restructuring within the apex financial institution.