ÇBN sacks another 200 staff after sacking 117 in April in the face of unemployment & economic hardship

After sacking about 117 staff between March 15 and April 11, 2024, the Central Bank of Nigeria has sacked another 200 staff of the apex bank.

These staff were relieved of their duties on Friday.

The termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff.

Sources informed Agenda Papers that the affected persons include older directors who were not affected by the last round of retrenchment.

Another insider squealed that the move has caused apprehension among staff of every cadre as the management has not specified any criteria for the decisions.

Yet the other source confirmed the information, indicating that additional dismissals are expected in the months ahead, spread out across staggered phases.

The official said, “It is real and is even more than 200 officials but the actual number is unconfirmed yet. The sack is coming in staggered phases and that is why we can’t confirm the number yet. But it is not less than 200.

According to the sack letter given to one of the affected staff and issued by the Human Resources Department on May 24, 2024, said the policy was to reorganise the organisation for effective operations.

The letter, lacking a signature read, “The new strategic direction of the bank has been widely publicised. In line with our new mission and vision, the bank is currently undergoing a significant organisational and human capital restructuring process.

“As a result of this review, I have been directed to notify you that your services will not be required with effect from Friday, 24th May 2024.

“Your final entitlements will be calculated and paid to you in due course. Thank you”