We’re Living In Fear – CBN Staff Cries Out For Help
The Central Bank of Nigeria has released a strong affirmation of the security of cash within Nigerian banks, highlighting the country’s banking sector’s soundness. Amid widespread unconfirmed rumours, not originating with the CBN, raising concerns about the health of Nigerian banks, the central bank of Nigeria asked the people not to panic and to continue with their usual banking activity. To ease people’s anxieties and comfort them, the CBN emphasized its readiness and capability to carry out its stated role of maintaining a stable financial system in Nigeria. This statement by the CBN responds to the concern caused by unverified information and seeks to reassure the public about the safety and stability of the country’s banking industry. “The Central Bank of Nigeria has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions,” said the apex bank’s acting Director, Corporate Communications, Hakama Sidi-Ali, in a statement issued on Wednesday. “To avoid any doubt, Nigerian banks are still safe and sound. The CBN advises the public to go about their daily lives without getting disturbed by reports regarding the health of Nigerian banks that have not come from the CBN. “The CBN is fully equipped to carry out its statutory duty of ensuring the stability of Nigeria’s financial system. “We assure the general public and depositors that their funds are safe in Nigerian financial institutions. “Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern.” This statement follows a report by the CBN’s special investigator, Jim Obazee, alleging that Godwin Emefiele, the former governor of the federal bank, used proxies to establish two financial institutions. According to the report, Emefiele utilised proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without providing any proof of payment. As a result, it recommended that the Federal Government reverse the sale and take over the banks.
The CBN workers who spoke with Daily Trust said no department can be spared in the continued sacking ravaging the apex bank.
The country’s apex bank staff said this in reaction to disengagement of another 50 of their colleagues on Monday.
Daily Trust reliably learnt that about 117 people have been shown the way out in the last 20 days, cutting across 29 departments.
The termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower ranking staff.
Speaking about the disturbing development, one of the staff said, “We have seen indiscriminate sacking in procurement, development finance and the medical services department. What it means is that other departments will follow soon.
“I am worried that they will come for all those that worked closely with the sacked directors. The apprehension is not good for productivity and it is also bad for the system.
Another senior staff member said: “A lot of people who received their sack letter just kept quiet and left their various offices. They feel helpless by the way the system is structured.”
The CBN under Cardoso has witnessed many changes but in policies and personnel directly away from what his embattled predecessor, Godwin Emefiele, had.
Even the vendors have been grumbling as some who completed their contract to the CBN since last June have their payment kept perpetually in view by the new management.
This has persisted over suspicion that they might have benefitted from the management of Emefiele.
