May 25, (THEWILL) – The Central Bank of Nigeria (CBN) has again, laid off over 200 staff from its workforce.
The latest retrenchment cuts across several departments, including Human Resources; Development Finance; Trade and Exchange (including a prominent director, Dr Hassan Mahmud); Financial Policy and Regulation, as well as Procurement and Support Services (All service coordinators in the PSSD who predominantly can be found in the state branches).
Many affected staff reportedly received termination letters on Friday afternoon, ending their employment immediately.
The CBN attributed the layoffs to a “significant organisational and human capital restructuring process” aligned with the bank’s recently publicised strategic direction and its new mission and vision.
A copy of one of the letters of termination of employment obtained by THEWILL reads: “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.”
About the Author
