The CBN has clarified that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff
The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements by staff.
The apex bank clarified that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff.
Mrs. Hakama Sidi Ali, acting director of corporate communications stated the decision while speaking in Abuja on Wednesday, December 4, 2024.
She said “ 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,”
Ali explained that the EEP, a longstanding policy previously accorded to the executive cadre, has now been made available to eligible staff 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 who decline the package, Mrs. Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded. She further emphasized that the initiative is an internal corporate matter designed to promote career development for staff.
OrderPaper recalls following the adoption of the motion by Rep. Kama Nkemkama (APC Ebonyi) on Tuesday the House of Representatives resolved to set up an ad-hoc committee to investigate the circumstances that led to the mass retirement of 1,000 staff members of the Central Bank of Nigeria and also resolved to ascertain the N50bn payoff earmark for the settlement of the disengaged staff members of the apex bank.
