CBN Dismisses Sixteen Directors

The Central Bank of Nigeria (CBN) has terminated the appointments of sixteen directors across various departments as part of a wider restructuring effort. 

This move comes on the heels of recommendations made by Jim Obaze, the special investigator appointed to probe the activities of the apex bank during the tenure of its former governor, Godwin Emefiele.

Premium Times reports that this action is linked to the findings of Mr. Obaze's investigation, which uncovered allegations of misconduct and financial impropriety involving some staff members and Mr. Emefiele.

 However, sources within the CBN revealed that the dismissed directors were not directly accused of any wrongdoing but were informed that their services were no longer required.

This wave of dismissals follows a previous layoff of 200 other CBN employees, who were let go with full terminal benefits. 

The bank has maintained that these measures are part of an effort to restore integrity and efficiency within its operations.

President Bola Tinubu appointed Mr. Obaze in July to scrutinize the activities of the CBN and other related entities under Mr. Emefiele’s leadership.

 The investigation's scope and subsequent actions highlight the administration’s commitment to addressing issues of governance and accountability in key financial institutions.

The list of the affected directors includes:

1. Muhammed Rakiya Shuaibu - Information Technology

2. Aisha Isa-Olatinwo - Branch Operations/FSS2020

3. Mustafa Haruna Bala - Financial Policy & Regulation

4. Mahmud Hassan - Trade & Exchange

5. Nwaegberue Chibuike - Other Financial Institutions

6. Nnaji Ozoemena - Statistics

7. Efobi Chibuzo Anthony - Payments System Management

8. Habib Amina - Human Resources

9. Yusuf Phillip Yila - Development Finance/FSS2020

10. Eze Paulinus Chinyere - Financial System Strategy/FSS2020

11. Elizabeth Amos Kwaghe - Currency Operations/FSS2020

12. Chukwurah Maureen Omolola - Medical Services/FSS2020

13. Samuel Chukwuyem Okojere - Banking Services/FSS2020

14. Stanley Arinze A. - Procurement and Support Services/FSS2020

15. Omayuku Joseph Gbubemi - Governor’s Department/FSS2020

16. Asiegbu Nkiru Eunice - Special Duties/FSS2020

The central bank’s decision to relieve these directors underscores the ongoing reforms aimed at reshaping the institution and ensuring a more transparent and accountable financial system.

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