Reports have surfaced indicating that the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, is poised to retire eight directors of the apex bank, originally appointed during the tenure of former governor Godwin Emefiele.
Sources suggest that these directors, employed under Emefiele’s administration, are slated to receive early retirement notices this week, pending any last-minute alterations, as reported by Daily Trust.
One of the sources said, “We don’t know whether they were given early retirement or their appointments were terminated outright.”
Another source added that the main reason for the sack of the affected officials was “because they had worked very closely with the immediate past governor of the bank, Mr. Godwin Emefiele”.
Initially redeployed to the FSS 2020 arm of the bank, operating closely with Emefiele, these directors have reportedly remained in limbo since November 24th, 2023, awaiting further instructions.
While some have already received disengagement letters as of Friday, March 15th, 2024, the terms of their departure remain unclear.
Concerns have arisen among CBN staff, fearing potential ramifications and additional layoffs under the current management.
Allegations have circulated that the impending retirements stem from the close ties these officials maintained with Emefiele during his tenure.
This move follows the recent relocation of 150 Banking Supervision Department staff to Lagos, part of the CBN’s reorganization efforts to enhance regulatory efficiency and alleviate corporate headquarters congestion.
Despite controversies surrounding these actions, the CBN maintains they are essential for effective banking supervision and organizational streamlining.
