The Central Bank of Nigeria has fired about 200 employees from different offices as part of a bank-wide reform process.
Human Resources, Development Finance, Trade and Exchange (with a well-known director named Dr. Hassan Mahmud), Financial Policy and Regulation, Procurement and Support Services, and Financial Policy and Regulation are all affected. These departments have service coordinators in the PSSD who work primarily in state branches.
It was said that many affected employees were shocked to get layoff letters on Friday, May 24, meaning they would no longer be working for the company.
CBN says the layoffs are part of a “significant organisational and human capital restructuring process” that aligns with the Bank’s new mission and vision and its newly announced strategic direction.
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A few words from the sack letters ;
“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, May 24 2024. Your final entitlements will be calculated and paid to you in due course.”
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