Insiders said sixteen directors were relieved of their duties following the implementation of the CBN special investigator's report, which accused a number of the bank's staff of conniving with Mr Emefiele to allegedly loot the bank.
Sixteen of the twenty-nine directors heading different units of the Central Bank of Nigeria (CBN) have been disengaged, sources familiar with the operations of the apex bank told PREMIUM TIMES.
The disengagement comes in the wake of the implementation of some of the recommendations by Jim Obaze, the special investigator probing the activities of the apex bank under the stewardship of Godwin Emefiele, the embattled ex-governor of the apex bank.
About 200 other employees of the bank were similarly disengaged but received their terminal benefits in full, according to an insider who asked not to be named because of the sensitive nature of the matter.
A source disclosed that the personnel were not accused of wrongdoing but were simply informed that their services were no longer needed.
Insiders said the directors were relieved of their duties following the implementation of the CBN special investigator's report, which accused a number of the bank's staff of conniving with Mr Emefiele to allegedly loot the bank.
President Bola Tinubu appointed Mr Obaze last July to investigate the activities of the CBN and other related entities under the leadership of Mr Emefiele.
According to the report submitted to the president in December 2023, the investigation accused the former CBN governor of several wrongdoings, including keeping £543.5 million in fixed deposits in the UK without seeking the consent of the bank's board of directors and investment committee and a "fraudulent cash withdrawal of $6.23 million."
He was also said to have invested Nigeria's money without authorisation in 593 foreign bank accounts in the UK, the US and China, manipulated the exchange rate and committed fraudulent acts in the CBN's e-Naira project.
The report accused the ex-CBN governor of "stealing of public funds through advances to government otherwise known as Ways and Means" to the tune of N17.37 trillion.
DirectorsUnit
Muhammed Rakiya ShuaibuInformation technology
Aisha Isa-OlatinwoBranch operations/FSS2020
Mustafa Haruna BalaFinancial policy & regulation
Mahmud HassanTrade & exchange
Nwaegberue ChibuikeOther financial institutions
Nnaji OzoemenaStatistics
Efobi Chibuzo AnthonyPayments system management
Habib AminaHuman resources
Yusuf Phillip YilaDevelopment finance/FSS2020
Eze Paulinus ChinyereFinancial system strategy/FSS2020
Elizabeth Amos KwagheCurrency operations/FSS2020
Chukwurah Maureen OmololaMedical services/FSS2020
Samuel Chukwuyem OkojereBanking services/FSS2020
Stanley Arinze A.Procurement and support services/FSS2020
Omayuku Joseph Gbubemi Governor's department/FSS2020
Asiegbu Nkiru EuniceSpecial duties/FSS2020
Last Wednesday, the Federal High Court in Lagos ordered the forfeiture of a property worth N11.14 billion linked to Mr Emefiele to the Nigerian Government.
The court had earlier in May granted an interim forfeiture of N$4.72 million, N830.9 million and a number of properties linked to him.
Details
The disengaged directors comprised Muhammed Rakiya Shuaibu (information technology), Aisha Isa-Olatinwo (branch operations), Mustafa Haruna Bala (financial policy & regulation), Mahmud Hassan (trade & exchange), Nwaegberue Chibuike (other financial institutions), Nnaji Ozoemena (statistics) and Efobi Chibuzo Anthony (payments system management).
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Others include Habib Amina (human resources), Yusuf Phillip Yila (development finance), Eze Paulinus Chinyere (financial system strategy), Elizabeth Amos Kwaghe (currency operations), Chukwurah Maureen Omolola (medical services), Samuel Chukwuyem Okojere (banking services), Stanley Arinze A (procurement and support services), Omayuku Joseph Gbubemi (governor's department) and Asiegbu Nkiru Eunice (special duties).
Meanwhile, three other directors exited the CBN recently on attaining the retirement age of sixty. They included Clement Oluranti Buari, who was the head of the strategy unit; Mohammed Musa Tumala, head of the monetary policy department as well as Benjamin Nnadi, head of reserve management.
While Mr Buari left in May, both Mr Tumala and Mr Nnadi retired from the bank last month.
The role of the director of the consumer protection department is currently vacant.
