REVEALED: After Sacking Seven, CBN To Sack 12 More Directors Over Emefiele’s Trial

Twelve more Central Bank of Nigeria (CBN) directors may have been scheduled for dismissal, it was learnt yesterday. Reports on the planned sack of the senior personnel followed the termination of the appointments of seven directors by the apex bank last Friday....CONTINUE READING

Two of the affected directors were said to have accepted their fate. The five others are reportedly planning to take legal action against their employer for what they consider as unlawful termination of career.

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It was learnt that the two directors who have resigned to fate are under probe by officials of the Economic and Financial Crimes Commission (EFCC) having been implicated in the Jim Obaze Report.

Obaze was appointed as Special Investigator by President Bola Ahmed Tinubu to scrutinise the activities of the CBN under the watch of its former Governor Godwin Emefiele.

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The termination letters sent to the seven directors cited “reorganizational and human capital restructuring” as the reason for their dismissal, in line with the bank’s new strategic direction.

The letters stated that their “services would no longer be required with effect from Friday, 15th March, 2024”. It directed them to hand over all bank properties in their possession to their department’s administrator immediately.

A source told The Nation that the five directors, decided to challenge their termination because no wrongdoing had been linked to them.

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“And they have not been implicated in any misconduct. One of the directors affected has just two years and two months left in service,” the source said.

A CBN source expressed concern over the lack of a retirement benefits for the affected directors, especially considering their years of service and the absence of any charges or accusations against them.