Boro announced the move today, which follows their 3-0 defeat at home to Atherton Collieries on Tuesday.
Banim's assistant, former Wolves defender Matt Hill, has taken over as interim boss.
Tuesday's result left Rangers bottom of the Northern Premier League with just a single point from their seven games.
The reverse followed on from last Saturday's humbling when Rangers were knocked out of the FA Cup by Skelmersdale United, a team from two divisions below, in a 4-0 reverse at Marston Road.
Rangers said on Twitter: "Directors have decided to terminate the appointment of Jody Banim as first team manager with immediate effect. Matty Hill will take over on an interim basis with support of Paul Hayward.
"We thank Jody for his services to the club and we wish Matty success as interim manager. "
Hednesford Town striker Danny Glover has been linked with the vacancy after announcing on Wednesday night that he was leaving Keys Park for a fresh challenge.
The fan favourite – who was also assistant manager at Keys Park – has enjoyed three successful spells with the Pitmen.
Glover scored 20 goals in 40 appearances last season and also had a stint as caretaker boss before the campaign was abandoned due to the coronavirus outbreak.
The 31-year-old is one of the most prolific forward’s in the club’s recent history.