Victor EzejaThe umbrella body of South-East Socio-cultural Associations in the diaspora has decried the alleged marginalisation of the South-East region in the appointment of directors at the Central Bank of Nigeria (CBN).
The group, which is a coalition of South-East socio-cultural associations in the diaspora, expressed deep concerns about what they perceived as systemic marginalisation of South Easterners in the CBN under the leadership of the Governor, Dr Olayemi Cardoso.
Join our WhatsApp ChannelIn a statement signed by 20 persons representing South East Socio-cultural Associations in different parts of the world, the group made reference to a publication which highlighted the CBN’s recent appointment, describing it as totally lopsided against the federal character principles.
According to reports of the recent appointment of directors at the CBN, the South-East got only one director, which, according to the diaspora group, is an “outright injustice.”
Analysis of the current configuration of the CBN directors shows that with existing directors and the new appointments, the South West has a total of 13 directors out of 30 departments; the North East and North West, five directors combined; the North Central, six directors; the South-South, two directors; and the South East, one director.
The group accused the CBN governor of systematically marginalizing the South East staff of the apex bank since he assumed in 2023. It said Cardoso had in May 2024 dismissed all South East directors, including: Chibuzor Efobi (Director, Financial Policy and Regulation); Dr. Scholastica Ozoemena Nnaji (Director, Trade and Exchange); Mr. Chibuike Nwaegerue (Director, Other Financial Institutions Supervision); and Mrs. Nkiru Asiegbu (Director, Special Duties); and also sacked over 20 deputy directors from the regions “including some of the most competent specialists recruited from abroad,” under questionable circumstance.
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The South-East diaspora group further stated that 15 Assistant Directors of South East origin, as well as numerous Senior and Junior staff, were dismissed across various departments.
Part of the statement reads: “The South East was disproportionately affected by Cardoso’s ill-advised purge, which lacked due process and has resulted in multiple legal battles currently embarrassing the CBN in court.
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“These dismissals were neither reviewed nor approved by the CBN Board. They were not subjected to the Central Disciplinary Committee, and the affected staff were never informed of any offenses committed.
“At the time of these actions, there was no board in place, and Cardoso’s legal team has since struggled in court due to the lack of due process and supporting documents. This reckless and impulsive decision-making has created significant financial liability for the CBN and, by extension, Nigerian taxpayers.”
It said the outcome of the recent appointment of directors further “exposes the deliberate exclusion of South Easterners from directorship positions after their mass sack.”
The group argued that based on its analysis, there were five highly qualified South East candidates who performed well in their respective interviews “but were unjustly overlooked.”
The group condemned the decision of the CBN management to merge Corporate Communications and Investor Relations departments when candidates had already applied for and gotten to the final stage of the interview and recruitment process and were shoved aside. It described the action as amounting to changing the rules midway in a game.
The group further said that reports on the CBN directorship appointment revealed “an alarming trend: South East candidates who performed excellently were sidelined, while South West candidates were rewarded—even when they underperformed or never even applied for certain positions.”
It lamented that the CBN governor “has set a dangerous precedent by appointing 13 Yoruba candidates to directorship positions in one sweep while leaving the South East with just one appointment out of 29 departments. This unprecedented level of regional favoritism in a national institution cannot be justified under the guise of “competence.”
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The group pointed out that previous administrations had ensured regional balance in their appointments, adding that ex-CBN governor, Godwin Emefiele, despite his flaws, ensured that every region had at least four directors, but Cardoso has “blatantly ignored federal character principles.”
It therefore called on the National Assembly to investigate and review the appointments to ensure fairness and adherence to federal character principles. It also called for a reform of the CBN governance structure to separate the roles of the Governor and Board Chairman to prevent future abuses of power; and that Cardoso should be held accountable for the “unjust dismissal of South East staff and the financial liabilities incurred due to illegal terminations.”
The group noted that the South-East region has contributed immensely to Nigeria’s development, paying taxes and supplying resources essential to national growth and should not continue to suffer marginalisation by systemic exclusion from national institutions.
It called on lawmakers from the South-East to rise and challenge these injustices against the region.
It also stated that the South-East community in the diaspora will actively work to ensure that policies and institutions that discriminate against us will face political consequences in 2027.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
