Home News Top bankers shun CBN govt’s seat

Top bankers shun CBN govt’s seat

by Business News Report

As the federal government extends the tenure of office of the Central Bank Governor, Alhaji Abdulkadir Ahmed to March 1988, a stalemate has arisen on his prospective successor.
The dilemma centres around the take home pay of who succeeds him.
Financial sources told The Republic that top bankers contacted to take the job had declined because the salary package of the CBN governor was below what they earn as chief executives in their respective banks.
The CBN governor, sources said, earns about N28.000 compared with about N45,000 which chief executives of some commercial and merchant banks earn.

Sources also hinted that Alhaji Ahmed’s term which expired last June and for which he asked for an extension, had to be extended to, find a successor and resolve the financial stalemate.
Faced with the dilemma, the government, it was gathered at the weekend, had decided to carry out a salary review in the Central Bank to attract top executives to take the job and other essential positions in the apex bank.
The review s also to be carried out in line with the new autonomous status granted the bank by the federal government.
The entire staff of the CBN is also expected to benefit from the salary review.
The review is expected to be completed before Alhaji Ahmed’s tenure ends.
Sources also disclosed that the CBN is expected to have a new organisational. Under the new structure, the bank is expected to have five deputy governors as against one which is now has. When appointed the new deputy governors are expected to replace the existing executive directors who hitherto constitute the board of director.
A deputy governor would be provided for each of the department of staff and management services banking and currency operations, foreign operation and domestic operation.
According to the sources, new functional areas are also expected to emerge. One of such areas is the corporate and public relations department the sources added.

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