Employees at the Central Bank of Nigeria (CBN) are living in a state of constant fear and apprehension following the recent wave of sackings that have taken place since the appointment of Dr Olayemi Cardoso as the new Governor.
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The ongoing dismissals have affected various departments within the apex bank, leaving no one feeling secure in their position.
In the latest development, another 50 CBN staff members were disengaged on Monday, bringing the total number of employees laid off in the past 20 days to approximately 117. The terminations have cut across 29 departments, affecting personnel at all levels, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.
Speaking to Daily Trust on condition of anonymity, one staff member expressed their concerns, stating, “We have seen indiscriminate sacking in procurement, development finance, and the medical services department. What it means is that other departments will follow soon. I am worried that they will come for all those that worked closely with the sacked directors. The apprehension is not good for productivity, and it is also bad for the system.”
Another senior staff member shared their observation of the situation, saying, “A lot of people who received their sack letter just kept quiet and left their various offices. They feel helpless by the way the system is structured.”
Under Governor Cardoso’s leadership, the CBN has undergone significant changes in both policies and personnel, marking a stark departure from the approach of his embattled predecessor, Godwin Emefiele. The new management’s decisions have not only affected employees but have also impacted vendors who completed contracts with the CBN as far back as last June. These vendors have been left in limbo, with their payments perpetually kept in view, raising suspicions that they might have benefitted from Emefiele’s management.
The current atmosphere of uncertainty and fear among CBN staff has raised concerns about the impact on productivity and the overall functioning of the system. As the restructuring efforts under Governor Cardoso intensify, employees are left wondering about their job security and the future direction of the apex bank.
The Central Bank of Nigeria has not yet provided an official statement regarding the recent layoffs and the concerns raised by its employees.
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