After sacking seven ‘Emefiele directors’, Cardoso moves against 12 more CBN senior executives

Following the sack of seven on Friday, twelve more Central Bank of Nigeria (CBN) directors have been scheduled for dismissal.

The Nation reports that two of the affected directors were said to have accepted their fate.

The five others are reportedly planning to take legal action against their employer for what they consider as unlawful termination of their career.

It was learnt that the two directors who have resigned to fate are being probed by officials of the Economic and Financial Crimes Commission (EFCC), who have been implicated in the Jim Obaze Report.

Obaze was appointed as a Special Investigator by President Bola Ahmed Tinubu to scrutinise the activities of the CBN under the watch of its former Governor, Godwin Emefiele.

The termination letters sent to the seven directors cited “reorganisational and human capital restructuring” as the reason for their dismissal, which was in line with the bank’s new strategic direction.

The letters stated that their “services would no longer be required with effect from Friday, 15th March 2024”. It directed them to immediately hand over all bank properties to their department’s administrator.

A source quoted in the report stated that the five directors decided to challenge their termination because no wrongdoing had been linked to them.

“And they have not been implicated in any misconduct. One of the directors affected has just two years and two months left in service,” the source said.

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