The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has sacked a fresh batch of 40 staff, mostly from the Development Finance Department (DFD).
The sack is said to be in furtherance of his ongoing restructuring at the apex bank, which includes a shift away from direct development interventions.
According to reports, those affected in this new batch are 22 deputy directors and assistant directors from the DFD and the remaining 18 from the Medicals and Procurement Services Department.
News About Nigeria reports that among those affected were eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.
It was gathered that Musa Zgabawa Bulus, an Assistant Director heading the National Collateral Registry (NCR), an initiative at the CBN with the primary aim of enhancing access to finance, particularly for nano, micro, small, and medium enterprises (MSMEs) by leveraging movable assets, is one of the employees sacked by the apex bank.
With this new batch of relieved staff, the total number of sacked employees has now climbed to 67.
This means that not less than 27 staff members—mostly directors at the Central Bank of Nigeria—were affected by the first batch of dismissals.
Speaking after the first batch of employees were sacked, Cardoso stressed the need for the apex bank to refocus on its core functions of monetary policies and advisory roles to support economic growth.
He had further highlighted concerns about the adverse effects of extensive development finance interventions, citing potential inefficiencies and distortions in the economy caused by excessive money supply influxes.
