Cardoso reportedly sacks CBN directors employed by Emefiele

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso is reportedly planning to sack or retire eight directors employed during the tenure of former governor Godwin Emefiele.

According to sources, the affected directors, who were initially redeployed to the FSS 2020 arm of the bank, are now facing early retirement letters, with some already served since Friday, 15th March 2024.

However, the terms of their disengagement remain unclear, raising questions about potential motives behind the move.

While the decision has caused apprehension among CBN staff, fears mount that this could signal further layoffs under the current management’s tenure.

One of the sources said: “We don’t know whether they were given early retirement or their appointments were terminated outright.”

Another source said the main reason for the sack of the affected officials was “because they had worked very closely with the immediate past governor of the bank, Mr. Godwin Emefiele”.