CBN Sacks 8 Directors, 10 Deputy Directors, Other Top Officials

Yemi Cardoso

Forty staff of the Central Bank of Nigeria (CBN) have been sacked from their positions.

Those affected include eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.

The details of the development are still sketchy but it is understood that the sack letters were released late Friday.

According to Daily Trust, the move may be connected with the CBN’s refocusing away from development finance interventions under the leadership of its Governor, Yemi Cardoso, as those sacked are primarily from the development finance department (DFD).

Cardoso had previously maintained that the apex bank would pull back from direct development interventions, stressing the need for the CBN to return to its core function of monetary policies.

A breakdown of the affected individuals has it that 22 officials were sacked from the DFD and the remaining 18 from the Medicals and Procurement Services Department.