By Abiola Olawale
The Central Bank of Nigeria (CBN) has officially reacted to reports making rounds that it is planning to retire over 1000 staff.
The apex bank, in a statement issued on Wednesday by the Acting Director of Corporate Communications, Hakama Sidi-Ali, clarified that the CBN is not sacking any staff.
Sidi-Ali, in the statement, explained that the CBN only established a package called the “Early Exit Package” for staff of the apex bank.
According to her, the programme provides an opportunity for eligible staff members who wish to exit the bank voluntarily, which is in alignment with CBN’s ongoing strategy to promote career development.
The statement reads in part: “The Central Bank of Nigeria has dismissed claims of forced mass retirements, clarifying that its Early Exit Package is entirely voluntary and without any negative repercussions for eligible staff.”
Sidi-Ali explained that the Early Exit Package was not a new initiative but an extension of an existing policy, which had previously been available only to the executive cadre.
The statement added: “For some time, staff representatives through the JCC had called on management to approve the early exit package for all cadres. Following these discussions, management decided to meet this popular demand.”
This comes after reports emerged that the CBN is purportedly planning to sack approximately 1,000 employees as part of a strategic workforce realignment.
A severance package worth over N50bn was said to have been allocated as the payoff for the exercise.
Following the development, the House of Representatives ordered the suspension of the reported ongoing mass retirement of staff at the Central Bank of Nigeria, with N50bn reportedly earmarked as severance funds.
The House consequently set up an ad hoc committee to investigate the circumstances that led to the mass retirement of 1,000 staff members of the apex bank.
