By Abiola Olawale
New information has surfaced regarding circumstances leading to the reported downsizing at the Central Bank of Nigeria (CBN)
Reports emerging on Tuesday revealed that about 16 departmental directors have been reportedly sacked in recent months.
The sack was said to have begun a few months after the submission of a report by Jim Obazee, a special investigator appointed by President Bola Ahmed Tinubu to examine the operations of the CBN and other associated institutions during the tenure of the immediate past CBN Governor, Mr Godwin Emefiele.
An insider source familiar with the matter said that only nine departmental directors have managed to retain their positions following the extensive downsizing process which took place within the CBN, under the leadership of Governor Olayemi Cardoso.
According to reports, about two hundred other employees were reportedly sacked. However, they were reportedly compensated with their full terminal benefits.
The source stated that the directors and other staff were not provided with a specific reason for their sack, but were simply notified that their services were no longer required.
According to reports, the sacked directors were identified as; Muhammed Rakiya Shuaibu (information technology), Aisha Isa-Olatinwo (branch operations), Mustafa Haruna Bala (financial policy & regulation), Mahmud Hassan (trade & exchange), Nwaegberue Chibuike (other financial institutions), Nnaji Ozoemena (statistics) and Efobi Chibuzo Anthony (payments system management).
Others include Habib Amina (human resources), Yusuf Phillip Yila (development finance), Eze Paulinus Chinyere (financial system strategy), Elizabeth Amos Kwaghe (currency operations), Chukwurah Maureen Omolola (medical services), Samuel Chukwuyem Okojere (banking services), Stanley Arinze A (procurement and support services), Omayuku Joseph Gbubemi (governor’s department) and Asiegbu Nkiru Eunice (special duty).
It would be recalled that the report presented by Obazee in December 2023 had alleged that the immediate past CBN governor, Emefiele, engaged in multiple misconducts.
These include the alleged placement of £543.5 million in fixed deposits in the UK without approval from the bank’s board of directors and investment committee, as well as an alleged fraudulent cash withdrawal amounting to $6.23 million.
The report had also accused Emefiele of investing Nigeria’s funds without authorization in 593 foreign bank accounts in the UK and the US. Furthermore, it was claimed that there were manipulations of the exchange rate and fraudulent activities associated with the CBN’s e-Naira project.
The report further accused the ex-CBN governor of “stealing public funds through…government advances?otherwise known as Ways and Means” to the tune of N17.37 trillion.
