ABUJA – Last week, a report by a national newspaper (not Sundiata Post) emerged suggesting that no fewer than 200 officials of the Central Bank of Nigeria have been purportedly sacked.
In the report, the 200 officials were said to have included 14 directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff.
Top on the list published by the newspaper was the Director of Strategy Management of CBN, Mr Clement Oluranti Buari, who was inaccurately reported to be among the 14 directors reportedly sacked by the apex bank.
However, investigation has revealed that the aforementioned report is grossly inaccurate. Further Checks at the Central Bank of Nigeria(CBN) and corroborated by independent entities have since ascertained that Mr Buari was not one of those sacked by the CBN as inaccurately stated but rather he retired successfully after completing the maximum 35 years of meritorious service at the apex bank. In fact, checks reveal that the newspaper, which earlier published the inaccurate information has retracted, corrected the errors therein and accordingly updated its content as at May 26, 2024.
Indeed, on May 5, the drums were rolled out in honour of Mr Buari, as he meritoriously bowed out of service having put in the mandatory 35 years in service. Some colleagues of his at the apex bank described Mr Buari as an exceptional professional with pragmatic zeal and vision. Speaking with the New Diplomat on Sunday, some colleagues of Mr Buari confirmed that he retired on May 4, 2024, having served the apex bank for 35 unbroken and meritorious years.
The retired director’s colleagues wondered why a national daily in the country published such a misleading news without confirmation from the CBN.
Said a staff of the apex bank in the communication department: “The director, Mr Oluranti Clement Buari retired 4th of May, on attainment of the mandatory 35 years in service, having served the Bank meritoriously. In fact, I understand that there was a commendation letter for exceptional service, issued to him by the Governor of CBN, Mr Yemi Cardoso on behalf of the Board of Central Bank of Nigeria. Mr Buari was NOT sacked as erroneously published…They should have verified from the CBN Authorities before going to press. The story is untrue!”
Also, in a letter referenced HRD/SVC/CON/LSA/023/050, and sighted by The New Diplomat, the CBN commended Mr Buari for his numerous exceptional accomplishments as a director of the apex bank. In the commendation letter signed on behalf of CBN by Governor Yemi Cardoso, the apex bank hailed the exceptional leadership skills, cognate experience and pragmatic managerial competencies of Mr Buari.
Indeed, in appreciation of his sterling leadership qualities as well as his 35 years of meritorious service at the CBN, the apex bank rolled out the drums with a send forth ceremony for Buari. During this historic occasion, Buari who hails from Kogi State was honoured with a long service award. Indeed, a video clip of the send-forth ceremony which was attended by many top officers, staff of the apex bank as well as well-wishers, the deputy governor, economic policy of the CBN, Mr Mohammad Sani Abdullahi, who represented the Governor of CBN and the Board, commended Mr Buari for his accomplishments.
Also, Buari’s former staff also praised him for his far-reaching contributions to the CBN, which they said left very impressive and impactful outcomes.
In his speech at the occasion, Mr Abdullahi, the CBN deputy governor (Economic policy) expressed appreciation to Mr Buari for his impactful roles and efforts.
He said: “We are very proud of Mr Clement Buari. We met six months ago, when we joined the bank and for the short time we have known the Director, he has been an exceptional staff of the bank. He has been of help to us, especially in the early days of our service, to guide us and help…the management to craft what has become our strategy for the bank, for the next five years.
“As he retires today, it is a very important thing to note, especially in public service that many people go in but not many people go out meritoriously. So, his leaving here meritoriously is applaudable.
“I want to personally say thank you so much for your service, thank you so much for the insight, for the dedication, for the integrity in which you have carried out your duties in the bank.”
Similarly, the apex bank while underlying the fact that Mr Buari is bowing out after 35 years of meritorious service wrote in a letter sighted by The New Diplomat: “Your employment records indicate that May 4, 2024, marked the 35th anniversary of your assumption of duty in the Bank. In recognition of your service over the years, the Bank has honoured you with an award, by the existing policy. Details of this are obtainable at the HR service centre”
The statement signed by the Head of Human Resources of the CBN added further: “On behalf of the management and staff of the bank, I congratulate you most sincerely for serving the institution for 35 years and wish you many more years of dedicated service to the bank and the nation.”
Also in attendance at the send forth ceremony was the Deputy Governor in charge of Operations, Mrs M.M. Usoro who eulogised Buari for retiring on a high note and later decorated him with the Bank’s permanent Identity card at the official pull-out ceremony. In a similar vein, Chief Bayo Ojo (SAN), a former Attorney General of the federation and minister of Justice, showered praises on Mr Buari for being a very deligent, loyal, visionary and professional person whom he has known since the early days of his banking career. Chief Ojo said he wishes the retired director, Mr Buari the very best in good health with his family.
Similarly, as earlier stated, the CBN Governor, Olayemi Cardoso, in a separate letter dated Apri 30, 2024, and addressed to Mr Buari, commended him for his leadership skills in executing a Strategy project, among others.
The CBN Governor said: “I am writing to commend you for your exceptional leadership during the recent project. Your ability to rally the team, and streamline processes in meeting tight deadlines was truly commendable. Your collaborative spirit exemplifies your dedication and loyalty to the organisation.”
Also, checks by the New Diplomat on the official website of the CBN show that Buari was appointed Director, of the Strategy Management Department of the Central Bank of Nigeria on 19th December 2019.
He has over 30 years of corporate experience in intercultural banking operations cutting across supervisory, managerial, and strategic decision-making positions with a broad understanding of the interplay of monetary and fiscal policies in an economy.
Since joining the services of the Central Bank of Nigeria (CBN) on 5th May 1989, he has worked in many strategic business units including the Ibadan Branch, Banking Operations, Governor’s Department, Branch Operations Department, and Currency Operations Department. He served as a Technical Assistant to Deputy Governors in charge of Financial System Stability and Operations Directorates from 1999- 2012.
He holds a Bachelor of Law degree (LL.B Hons) and a Master of Business Administration (MBA). He has attended courses at the Harvard Kennedy School, Boston; The World Bank, Washington DC; Massachusetts Institute of Technology (MIT), Cambridge; International Monetary Fund (IMF); Oxford University, UK, Wharton School of Business, Philadelphia – Pennsylvania; Ocean Strategy, Fontainebleau – Paris among others.
He is a member of many professional bodies including the Chartered Institute of Bankers of Nigeria (CIBN), the Chartered Institute of Procurement & Supply (CIPS), Institute of Supply Chain Management (ISCM), the Institute of Strategic Management Nigeria (ISMN), Institute of Directors of Nigeria (IoD). He has received letters of commendation for excellent performance at the Central Bank of Nigeria and he is a recipient of the National Honor, Officer of the Order of the Niger (OON) in recognition of his contributions to National service.
