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Full list of directors sacked by CBN

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A significant number of directors who had survived the ongoing restructuring at the Central Bank of Nigeria (CBN) have now been dismissed.

CBN Governor Yemi Cardoso has implemented substantial reforms, including workforce downsizing, since taking the helm of the apex bank. Earlier reports indicated that certain senior staff members who served during Godwin Emefiele’s tenure were initially spared from the layoffs that began in March. However, these individuals have now also been let go.

Reports suggest that nearly 600 employees are affected, with almost all staff members in the Governor’s Directorate being terminated. In the latest round of layoffs, around 200 individuals have had their engagement letters signed and will receive them in the coming days.

The following is a list of directors affected by the latest shakeup at the CBN:

  • Clement Oluranti Buari, Director, Strategy Management
  • Dr. Blaise Ijebor, Director, Risk Management
  • Lydia Ifeanyichukwu Alfa, Director, Internal Audit
  • Jimoh Musa Itopa, Director, Capacity Development
  • Muhammad Abba, Director, Human Resources
  • Rabiu Musa, Director, Finance
  • Dr. Mahmud Hassan, Director, Trade & Exchange
  • Dr. Ozoemena S. Nnaji, Director, Statistics
  • Dr. Omolara Duke, Director, Financial Markets
  • Chibuike D. Nwaegerue, Director, Other Financial Institutions Supervision
  • Chibuzo A. Efobi, Director, Payments System Management
  • Haruna Bala Mustafa, Director, Financial Policy and Regulation
  • Rakiya Shuaibu Mohammed, Director, Information Technology
  • Benjamin Nnadi, Director, Reserve Management

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We’ll be forced to export 97% of our petrol – Dangote Refinery warns

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Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.

Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.

Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.

This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.

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FIFA U-20 Women’s World Cup: Round of 16 fixtures confirmed [Full list]

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The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.

In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.

As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.

The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.

The full lineup for the Round of 16 is as follows:

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  • Spain vs Canada
  • Brazil vs Cameroon
  • Colombia vs South Korea
  • Mexico vs USA
  • North Korea vs Austria
  • Germany vs Argentina
  • Netherlands vs France
  • Japan vs Nigeria
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Nigerian Army debunks reported mass resignation of soldiers

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The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.

In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.

A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.

Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.

He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).

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Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.

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