"Fear Grips Central Bank of Nigeria Staff Amidst Ongoing Terminations: 117 Employees Axed in 20 Days"

Staff at the Central Bank of Nigeria (CBN) are reportedly living in constant fear following a series of terminations since the appointment of Dr. Olayemi Cardoso as Governor. According to sources, around 117 employees from 29 different departments have been let go in the past 20 days alone. The terminations have affected employees at various levels, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.

The situation has led to apprehension among the remaining employees, with concerns that more departments could be targeted for layoffs in the future. One employee expressed worry that those who worked closely with the sacked directors might also be at risk. The atmosphere of uncertainty is noted to be detrimental to productivity and the overall functioning of the institution.

Additionally, there have been murmurs of discontent among vendors who have completed contracts with the CBN, as some have allegedly not received payments since last June. This delay is speculated to be due to suspicions that they may have benefited from the previous management under Godwin Emefiele.

Despite the internal turmoil, the CBN has issued statements reaffirming the safety and stability of the Nigerian banking sector. The apex bank assures the public that their funds are secure in Nigerian financial institutions and encourages bank customers to proceed with their transactions as usual. This comes in response to rumors circulating in certain media outlets regarding the health of Nigerian banks, which the CBN has refuted.

The ongoing changes under Dr. Cardoso's leadership mark a departure from the policies and personnel of his predecessor, Godwin Emefiele. The recent terminations and restructuring at the CBN reflect broader transformations within the institution under new leadership.

Kindly share this story and follow us for more engaging contents