By Ola Kay
The Central Bank of Nigeria, CBN, has relieved another batch of 40 employees, mostly from its development finance department,DFD, as part of its ongoing restructuring.
The move was consequent on the earlier dismissal of 27 staff, bringing the total number of affected staff to 67.
The development may not be unconnected to the CBN’s shift of focus away from development finance interventions.
The apex bank boss, Olayemi Cardoso had spoken against such interventions, arguing that they take the bank outside its core function and can likely distort the economy.
Those affected in the latest shake off include Musa Zgabawa Bulus, an Assistant Director who headed the National Collateral Registry, NCR.
The NCR is an initiative aimed at improving access to finance for small and medium-sized enterprises ,MSMEs by leveraging movable assets as collateral.
According to reports, the retrenchment allegedly targeted senior staff of the apex bank with 22 from the DFD and 18 from the Medicals and Procurement Services Department, while the previous round included eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers.
A senior management sources at the CBN reportedly expressed concerns about potential irregularities in the bank’s leadership, questioning the authority of Olayemi J. Solaja, Coordinator of the Currency Operations Department, to sign the Naira note.
CBN rules reportedly mandate a formal appointment process for directors before they can sign currency.
About The Author
