The Central Bank of Nigeria (CBN) has refuted claims that it forced 1,000 staff members to quit, instead revealing that their departure was entirely voluntary.
According to CBN Governor, Mr. Olayemi Cardoso, the staff members who left in December initiated their own voluntary disengagement and received full benefits.
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The CBN emphasized that the Early Exit Program, Restructuring, and Reorganization were implemented to optimize the bank’s efficiency.
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The clarification came during an investigative hearing by the Ad-hoc Committee of the House of Representatives.
Chairman of the committee, Mr. Usman Kumo, assured that the investigation would be fair and impartial.
The CBN maintained that the voluntary disengagement program was designed to enhance efficiency and not to force staff out.
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The bank’s representatives, led by Deputy Director Corporate Service, Mr. Bala Bello, provided detailed explanations of the program’s objectives and benefits.
The Ad-hoc Committee is expected to submit its report to the House of Representatives, providing clarity on the CBN’s voluntary exit program and its implications for the bank’s operations.