Around 200 employees have been terminated by the Central Bank of Nigeria as part of a comprehensive restructuring initiative spanning various departments within the institution.
The affected departments encompass Human Resources, Development Finance, Trade and Exchange (including a notable figure, Dr. Hassan Mahmud), Financial Policy and Regulation, and Procurement and Support Services (comprising service coordinators primarily stationed in state branches).
Reports indicate that many of the impacted employees were taken aback upon receiving termination notices on Friday, May 24, marking an abrupt end to their employment.
The CBN cites a “significant organizational and human capital restructuring process” in alignment with the bank’s recently communicated strategic direction, mission, and vision as the rationale behind the layoffs.
Sample dismissal letters convey the message that, in accordance with the institution’s new mission and vision, the affected individuals’ services are no longer required, effective May 24, 2024, with final entitlements to be calculated and disbursed accordingly.
