Explosive Confession: CBN Claims No Forced Departures In 1,000-Staff Layoff

Explosive Confession: CBN Claims No Forced Departures In 1,000-Staff Layoff

The Central Bank of Nigeria (CBN) has firmly denied claims that 1,000 staff members were coerced into leaving the organization in December 2024. CBN Governor, Olayemi Cardoso, clarified the matter during a hearing by the House of Representatives ad-hoc committee…Explosive Confession: CBN Claims No Forced Departures In 1,000-Staff Layoff

in Abuja on Friday. He explained that the employees voluntarily participated in the bank’s Early Exit Programme, receiving full benefits.

Cardoso, represented by Deputy Director of Corporate Services, Bala Bello, emphasized that the restructuring and reorganization efforts were part of the bank’s strategy to optimize its operations by ensuring the right talent is in place. He highlighted that this voluntary exit program was not a mandatory action but a strategic decision to balance staffing needs with the bank’s evolving operational structure, including technological advancements.

“This program is entirely voluntary, and no one has been forced to leave,” Cardoso assured. He also pointed out that such exercises are common not only within government agencies but also across various sectors globally.

The committee’s Chairman, Bello Kumo, expressed interest in understanding the objectives of the Early Exit Programme, particularly its impact on career progression and the bank’s future workforce strategy. The exercise follows global trends in optimizing organizational efficiency in a digital age.

For More Information And News Update, Join Ireporteronline WhatsApp Channel With Link Below: https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32 For advertisement inquiries only, kindly send a message to 09010649814 on Whatsapp