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In a continuation of its ongoing restructuring efforts, Governor Yemi Cardoso of the Central Bank of Nigeria (CBN) has terminated the employment of 40 staff members, primarily from the Development Finance Department (DFD).

Reports indicate that the affected staff, consisting mostly of deputy directors and assistant directors, include 22 individuals from the DFD and 18 from the Medicals and Procurement Services Department.


The dismissal extends to various levels of management, with eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers among those affected.

With this latest action, the total number of dismissed staff has risen to 67, reflecting a systematic approach undertaken by the Olayemi Cardoso-led Board of Governors.

This move follows a previous round of dismissals where 27 staff members, predominantly directors, were relieved of their duties at the Central Bank of Nigeria.

The restructuring initiative underscores the institution’s commitment to optimizing its organizational structure and enhancing operational efficiency in line with its mandate.

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