NS&I's reputation has hit the rocks, leaving 26m savers who have money tied up with the bank questioning what has happened and how simple it is access their cash.
Dax Harkins, who has served as chief executive of NS&I since April 2023, was informed of his dismissal from the company this morning in a meeting with treasury officials, it is understood.
I think savers have been too hasty to write off the newly improved Guaranteed Growth and Guaranteed Income Bonds from National Savings and Investments (NS&I).
Premium bond holders are likely to hear bad news soon. Another cut to the prize rate seems inevitable - and I think it could come as early as the July draw.