Major Shake Up As CBN Sacks 8 Directors, 10 Deputy Directors, Other Top Officials

Not less than forty individuals have been sacked from their positions in the Central Bank of Nigeria (CBN) in what is seen as a major shake up in the apex bank.

those affected include eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.

The details of the development are still sketchy but it is understood that the sack letters were released late Friday.

According to Daily Trust, the move may be connected with the CBN’s refocusing away from development finance interventions under the leadership of its Governor, Yemi Cardoso, as those sacked are primarily from the development finance department (DFD).

Cardoso had previously maintained that the apex bank would pull back from direct development interventions, stressing the need for the CBN to return to its core function of monetary policies.

A breakdown of the affected individuals has it that 22 officials were sacked from the DFD and the remaining 18 from the Medicals and Procurement Services Department.

President Bola Tinubu has officially closed the investigation of Jim Obazee, a special investigator appointed to look into the activities of the Central Bank of Nigeria (CBN) and other related entities.

This was made known in a statement on Friday by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale.

The statement noted that with the conclusion of Obazee’s work, all relevant law enforcement and regulatory agencies are currently pursuing further action.

Obazee was appointed in the wake of the sack of Godwin Emefiele as the Governor of the CBN.

President Tinubu expressed gratitude to Obazee, the former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), for serving as the Special Investigator of the Central Bank of Nigeria (CBN) and other associated institutions after his appointment on July 28, 2023.

The President also appreciated Obazee’s commitment and expertise in managing the intricacies of this vital national task.