CBN set to make important change after sacking directors

• The process of choosing substantive directors by the CBN to fill the positions of those relieved of their duties has started
• The positions that opened are Director, Corporate Communications Department and 6 other director position in the apex bank
• The bank added that applications must be submitted by 4 pm and that only those who were shortlisted would be contacted

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

The process of selecting substantive directors to take the position of individuals relieved of their posts, including some who resigned 11 months ago, has begun at the Central Bank of Nigeria (CBN).

Applicants who apply for more than one of the open opportunities risk being excluded. Photo Credit: CBN
Source: UGC

This information was revealed in an internal apex bank advertising seen by Daily Trust.

In the advertisement, the bank is seeking to fill seven positions namely Director, Corporate Communications Department (CCD); Director, Financial Policy and Regulation Department (FPRD); Director, Other Financial Institutions Supervision Department (OFISD); Director, Procurement & Support Services Department (PSSD); Director, Banking Services Department (BKSD); Director, Medical Services Department (MSD); and Director, Information Technology Department (ITD).

The ideal candidate would need to meet the requirements outlined in the advertisement, which call for the candidate to be a confirmed member of the bank's deputy director staff and have held the position for at least three years.

It additionally said that applications for more than one of the listed positions may result in disqualification and that deputy directors with two years or less to retire are not eligible for consideration.

The bank further stated that only shortlisted applicants would be notified and that applications must be sent by 4 pm on Friday, September 27, 2024, to the email address supplied.

At least 27 employees, the majority of whom were directors at the CBN, were impacted by the financial institution's initial round of reorganization, according to a March 2018 Daily Trust article.

Daily Trust reported that Eight directors, ten deputy directors, five assistant directors, two major managers, and two senior managers were among those impacted.

Olayemi Cardoso, the governor of the CBN, has already relieved 17 of the directors he inherited, and four more recently retired after reaching the 60-year-old retirement age.

The letters to the directors explained the change as a "re-organization," saying that the bank's new strategic orientation had received extensive media coverage. The bank is now going through a major organizational and human capital reform exercise in accordance with our new mission and vision.

CBN sacks More Directors

Legit.ng reported that the Central Bank of Nigeria (CBN) has terminated the appointments of directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL).

The dismissed directors include NIRSAL’s managing director and chief executive officer, Abbas Umar Masanawa, executive director of operations, Kennedy Nwaruh and executive director of technical, Olatunde Akande.

A NIRSAL official reportedly said that the staff are awaiting further clarification on the dismissal's circumstances.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

Source: Legit.ng