CBN says 1,000 staff members voluntarily opted for planned retirement
The Central Bank of Nigeria (CBN), in its riposte to media reports that it planned to disengage about 1,000 staff members, said the exercise was voluntary.
Payouts due to the exercise is about N50 billion. It will take care of the affected staff members’ entitlements.
Acting Director of Corporate Communications if the CBN, Mrs. Hakama Sidi Ali, on Wednesday, dismissed claims of forced mass retirements.
She clarified that its Early Exit Package (EEP) was entirely voluntary and without any negative repercussions for eligible staff members.
Sidi Ali stated that the decision to implement the exercise was the outcome of extensive consultations with the Bank’s Joint Consultative Council (JCC), a body representing staff interests.
She explained that the EEP, a longstanding policy previously accorded to the executive cadre, had now been made available to eligible staff members 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 members who declined the package, Mrs. Sidi Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded.
She further emphasized that the initiative was an internal corporate matter designed to promote career development for staff members.
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