Explosive Inquiry: Speaker Demands Answers From CBN On 1,000 Job Cuts

Explosive Inquiry: Speaker Demands Answers From CBN On 1,000 Job Cuts

The Speaker of the House of Representatives, Tajudeen Abbas, has called for an explanation from the Central Bank of Nigeria (CBN) regarding the dismissal of approximately 1,000 employees and the subsequent allocation of a N50 billion compensation package…Explosive Inquiry: Speaker Demands Answers From CBN On 1,000 Job Cuts

to those affected.

Abbas made the request during the opening of an investigative hearing by the House’s Ad-hoc Committee, which is examining the CBN’s decision to terminate its staff. The hearing, which took place on Friday in Abuja, is being led by Bello Kumo, the Chief Whip of the House.

In his remarks, Abbas, represented by Deputy Speaker Benjamin Kalu, emphasized the importance of transparency in the process and highlighted the need to safeguard the welfare and rights of the affected workers. He also tasked the committee to scrutinize the rationale behind the layoffs, particularly given the economic difficulties the country is currently facing.

Abbas further urged the committee to assess the fairness and accuracy of the N50 billion severance package, ensuring that due diligence and transparency were observed in determining this figure.

He stressed that while the principle of running a leaner and more efficient government is widely recognized, decisions like these should not come at the expense of employees’ rights or the long-term stability of institutions. Abbas called for full cooperation from the CBN and other involved agencies to ensure the panel could complete its investigation.

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