Cardoso Breaks Silence On Exit Of 1,000 Staff From CBN

Central Bank of Nigeria, CBN, governor, Olayemi Cardoso, has said the 1,000 staff who left the bank were not forced to leave.

Cardoso stated this on Friday at the resumed House of Representatives investigative hearing on the disengagement of the 1,000 workers by the CBN.

The apex bank, on December 4, 2024, said its Early Exit Package, EEP, was entirely voluntary and without any negative consequence for eligible staff.

This comes amid reports that 1,000 staff were sacked from the apex bank.

Reacting to the development, however, the House of Representatives ordered the CBN to suspend the planned retirement of 1,000 staff.

The green chamber had also established an ad hoc committee to probe the process and legality of the exercise.

At the resumption of the investigative hearing on Friday, the CBN governor, however, said the 1,000 members of staff were not forced to quit.

Represented by CBN’s deputy director of corporate service, Bala Bello, the apex bank boss also said the early exit programme, the restructuring and reorganisation was to optimise the bank for enhanced efficiency.

“They are basically ways and means through which the performance of an organisation is optimised by putting, ensuring that round pegs are put in right holes.

“The manpower requirement of the bank is actually met. I’m very happy to mention, Mr. Chairman and members of the committee, that the early exit program of the central bank is 100 percent voluntary.

“It’s not mandatory. Nobody has been asked to leave, and nobody has been forced to leave. It’s a completely voluntary programme that has been put in place.

“I believe several organisations across the world, and even within this country, both in the private sector and the public sector, are undertaking similar exercises.

“So nobody has been asked to leave. With a lot of humility, I will tell you that this same program that is taking place is not at the instance of the bank,” Cardoso said.