CBN Governor Cardoso reportedly sacks CBN directors employed by Emefiele 

Reportedly, Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), is contemplating the dismissal or retirement of eight directors who were employed during the tenure of the former governor, Godwin Emefiele. These directors, who were initially reassigned to the FSS 2020 division of the bank, are now receiving early retirement notices, with some having already been served as of Friday, March 15, 2024. However, the specific terms of their departure remain ambiguous, prompting questions about the underlying motives.

The decision has sparked concern among CBN personnel, with fears emerging that it might foreshadow additional layoffs during the current management’s tenure. A source remarked, “We don’t know whether they were given early retirement or their appointments were terminated outright.” Another source suggested that the primary reason for the dismissal of these officials was their close association with the previous CBN governor, Mr. Godwin Emefiele.