Approximately 200 employees have been sacked by the Central Bank of Nigeria across various departments in a bank-wide restructuring exercise.
The departments affected
include Human Resources; Development Finance; Trade and Exchange (including a
prominent director, Dr. Hassan Mahmud); Financial Policy and Regulation and
Procurement and Support Services (all service coordinators in the PSSD who
predominantly can be found in the state branches).
It was gathered that many of
the affected staff were reportedly surprised to receive termination letters on
Friday, May 24, with their employment ending immediately.
According to CBN, the layoffs
are due to a “significant organizational and human capital restructuring
process” aligned with the bank’s recently publicised strategic direction and
its new mission and vision.
Some of the sack letters read;
“In line with our new mission and vision, the
Bank is currently undergoing a significant organizational 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.”
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