• Wednesday, May 22, 2024
businessday logo

BusinessDay

Nigeria’s Central Bank fires 50 more staff

Nigerian banks’ low assets-to-GDP explains recapitalisation

The Central Bank of Nigeria (CBN) has sacked 50 more staff across 29 departments on Monday, adding to the list of ongoing disengagements in the apex bank.

This brings the number to a total of 117 in the last 20 days.

The dismissal cuts across directors, deputy directors, assistant directors, principal managers, senior managers and lower ranking staff.

The distribution of termination letters, which started on March 15, has continued every other week with palpable apprehension amongst staff of every cadre as the management has not specified any standard criteria for the decisions, insiders told our correspondent.

Since the commencement of the sacking, officials of the apex bank have refused to comment on the matter.

Some Media attempts to get the reaction of Hakama Sidi Ali, the acting Director of Corporate Communication.