Why CBN sacked 200 workers amid hardship

Two hundred employees of the Central Bank of Nigeria are said to have been let go due to financial difficulties.

This was verified to ZINGTIE on Friday night by a senior Apex bank employee who wished to remain anonymous.

The Central Bank of Nigeria sent sack letters to more than 200 employees on Friday.

“But it’s not confirmed how many employees were let go,” he stated.

As of Saturday morning, Hakama Sidi Ali, Director of Corporate Communication, has not yet commented on the new hire.

The latest round of layoffs joins the 117 employees that the top bank fired between March 15 and April 11, 2024.

Directors, deputy directors, assistant directors, principal managers, senior managers, and lower-level employees were all impacted by the termination of appointments.

In February, at least 1,500 employees of Nigeria’s top bank were transferred from its Central Area headquarters to its Lagos branch.

According to CBN, the move was required to realign the bank’s organisational structure with its goals and activities and to reallocate capabilities to guarantee a more equitable distribution of talent across geographies, notwithstanding the uproar the decision caused at the time.

The facility manager’s repeated warnings and the conclusions and suggestions of the Committee on Decongestion of the CBN head office all attest to the company’s compliance with building requirements, CBN continued. 

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