The Central Bank of Nigeria, CBN is set to layoff 19 directors, with seven directors already removed and the remaining 12 facing termination.
The recent removal of seven directors has sparked discontent among the affected individuals. While two directors have accepted their dismissal, the other five are contesting it, claiming it to be unjust.
The termination of these directors is part of a broader reorganization and restructuring effort within the Central Bank of Nigeria (CBN) to realign with new strategic objectives. The dismissed directors were instructed to transfer their responsibilities promptly.
Notably, the five directors challenging their dismissal are doing so on the grounds of lack of misconduct on their part.
This move has led to legal actions and discontent among the affected directors.
