CBN: No plans to sack 1,000 officials

The Central Bank of Nigeria (CBN) has denied the planned retirement of 1,000 officials of the apex bank.

A report recently emerged that the CBN planned to retire over 1,000 officials across various levels.

It was reported that the retirement was part of a restructuring process under the CBN Governor’s leadership with N50 billion payoff scheme to compensate the affected officials.

It was further gathered that the CBN, in a recent circular, said the application for the Early Exit Package (EPP) was open to all cadres of staff and would close by Saturday, December 7, 2024.

The House of Representatives, on Tuesday, December 3, announced the commencement of an investigation into the planned retirement of the CBN officials.

However, the CBN Acting Director of Corporate Communications, Hakama Sidi Ali, while speaking in Abuja on Wednesday, December 4, debunked the mass retirements, saying its EEP is voluntary and without any negative repercussions for eligible staff.

CBN to banks: Ensure efficient over-the-counter, ATM cash disbursements

Sidi Ali stated that the decision to implement the exercise was the outcome of extensive consultations with the apex bank’s Joint Consultative Council (JCC), a body representing staff interests.

Sidi Ali explained that the EEP, a longstanding policy previously accorded to the executive cadre, has now been made available to eligible staff at all levels.

“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,” she said.

Addressing concerns about potential repercussions for staff who decline the package, Sidi Ali reaffirmed the CBN management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded.

She added that the initiative is an internal corporate matter designed to promote career development for staff.

The Star