Reports indicate that the Central Bank of Nigeria has laid off 200 staff members due to economic challenges. A senior staff member, who chose to remain anonymous, confirmed this development to our correspondent on Friday night.

“Over 200 staff members received termination letters from the Central Bank of Nigeria on Friday. However, the exact number of dismissed employees is yet to be confirmed,” he said.

As of Saturday morning, the Director of Corporate Communication, Hakama Sidi Ali, has not commented on the recent layoffs.

This recent wave of layoffs adds to the 117 staff members dismissed by the apex bank between March 15 and April 11, 2024. The termination of appointments affected employees across various ranks, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.

In February, approximately 1,500 staff members of the apex bank were redeployed from its headquarters in the Central Area to its Lagos office. The CBN stated that this action was taken to comply with building regulations, following repeated warnings from the facility manager and the findings and recommendations of the Committee on Decongestion of the CBN head office.

Despite the controversy surrounding this decision, the CBN asserted that it was necessary to realign the bank’s structure with its functions and objectives and to redistribute skills to ensure a more balanced geographical spread of talent.