PRNigeria Fact-Check Debunks Reinstatement Claims, Says CBN Director Jimoh Musa Itopa Was Never Sacked

Jimoh Musa Itopa

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Recent claims circulating on WhatsApp and amplified by a Tech Cabal report suggested that the Central Bank of Nigeria (CBN) had reinstated Jimoh Musa Itopa, a director supposedly affected by the May 2024 staff restructuring. However, investigations by PRNigeria and other news outlets have revealed a different story.

The WhatsApp message, referencing the Tech Cabal article titled “CBN Reinstates Jimoh Musa as Director of Key Payments Unit,” implied that Itopa’s return was part of a larger effort to quietly reinstate directors dismissed in the May restructuring, which saw at least 200 CBN staff, including several directors, lose their jobs.

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Tech Cabal’s report detailed Itopa’s return to the Payments System Management Department (PSMD), a crucial unit overseeing payment systems, agent banking, and cashless policies. However, the report made no mention of Itopa being among those initially dismissed.

A CBN spokesperson confirmed to Tech Cabal that Itopa was not affected by the May restructuring. The spokesperson clarified that Itopa had been redeployed from PSMD to the Capacity Development Department in November 2023 and his return to PSMD was part of the bank’s ongoing restructuring.

PRNigeria’s investigation further revealed that while initial reports on May 24, 2024, erroneously included Itopa among the sacked directors, subsequent reporting by Daily Trust on May 25, 2024, published a corrected list that excluded Itopa’s name. Daily Trust even added an editor’s note acknowledging the update regarding the status of some directors.

A Wayback Machine check by PRNigeria confirmed that the Tech Cabal article, while initially published on February 6, 2025, at 2:44 PM GMT, was modified later that day at 6:53 PM GMT. The reason for the modification was not immediately clear.

Therefore, PRNigeria concludes that the claim that Jimoh Musa Itopa was a sacked director reinstated by the CBN is misleading. He was not among those dismissed in the May 2024 restructuring.