March 18, (THEWILL) – The Central Bank of Nigeria (CBN) has concluded plans to disengage the services of 19 directors towards “reorganisational and human capital restructuring” efforts.
According to reports, seven of the directors had already been served disengagement letters since Friday, March 15, 2024.
Sources within the bank with knowledge of the development, said two of the seven directors have accepted their fate, while five others are planning legal action against the bank for what they consider to be an unlawful termination of their appointments.
A report by The Nation said the two directors are currently facing a case with the Economic and Financial Crimes Commission (EFCC) due to their implication in the Obaze report.
One of the sources further hinted that the remaining 12 directors, who are yet to receive their termination letters are aware of their disengagement.
As the development continues to raise tension among staff, some have lamented the loss of institutional knowledge and expertise that would result from the disengagement of these “experienced” directors.
According to Daily Trust, sources said 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, Godwin Emefiele”.
But the CBN rebuffed those insinuations, insisting that it was part of a proper reorganisation of the bank, in line with its new strategic direction.
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