The Central Bank of Nigeria (CBN) has initiated the recruitment process to appoint substantive directors for key departments, following the exit of several senior staff members, including those who were retired or relieved of their duties in the past year.
An internal advertisement seen by Govima reveals that the apex bank is seeking to fill seven director-level positions.
These include the Director of Corporate Communications Department (CCD), Director of Financial Policy and Regulation Department (FPRD), Director of Other Financial Institutions Supervision Department (OFISD), Director of Procurement & Support Services Department (PSSD), Director of Banking Services Department (BKSD), Director of Medical Services Department (MSD), and Director of Information Technology Department (ITD).
According to the CBN’s website, 13 departments are currently being overseen by coordinators. The advertisement specifies that only confirmed CBN staff at the level of deputy director, who have spent at least three years in the position, are eligible to apply. Additionally, applicants with less than two years remaining until retirement will not be considered, and candidates may only apply for one position to avoid disqualification.
Applications are expected to be submitted by Friday, September 27, 2024, with only shortlisted candidates set to be contacted.
This recruitment process follows a major reorganization of the bank, initiated in March 2024, during which 27 staff members—mostly directors—were affected. Eight directors, 10 deputy directors, five assistant directors, two principal managers, and two senior managers were either retired or relieved of their duties. Since then, CBN Governor Olayemi Cardoso has overseen the exit of 17 directors, with four others retiring after reaching the statutory age of 60.
The restructuring, referred to as a “Re-Organisation” in communications to the affected directors, is part of a broader strategic overhaul of the bank. The move aims to align the CBN’s structure with its new mission and vision under Cardoso’s leadership.
However, concerns have been raised about the eligibility criteria for the new positions. A senior management source, speaking anonymously, indicated that many of the current coordinators overseeing the departments may be precluded from applying under the specified conditions. The source noted that the stringent qualifications, including 20+ years of working experience and at least 12 years of senior management experience, may exclude several potential candidates, particularly those affected by the earlier restructuring..
