1000 staff not forced to quit, CBN clarifies

The Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso has clarified that 1000 staff of the apex bank that left in December initiated their voluntary disengagement with payment of full benefits.

He reiterated that the affected staff were not forced to quit.

Cardoso disclosed this on Friday during the resumed investigative hearing to probe the disengagement of the 1000 workers and how the N50 billion terminal benefits was arrived at for them.

The hearing was held at the instance of the House of Representatives Ad-hoc Committee to probe the matter, chaired by Usman Bello Kumo.

The probe followed the resolution of a motion of urgent public importance moved by Kama Nkemkama (LP, Ebonyi) last December to investigate the planned mass retirement of over 1,000 staff of the CBN.

The House also resolved to probe the planned N50 billion compensation pay off for staff willing to take the retirement option.

The CBN Governor, represented by the Deputy Director Corporate Service, Bala Bello, explained that the issue of the Early Exit Programme and the restructuring as well as reorganisation was to optimise the bank for enhanced efficiency.

He said: “They are basically ways and means through which the performance of an organisation is optimised by putting, ensuring that round pegs are in right holes. The manpower requirement of the bank is actually met.

“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 terms of the private sector and the public sector, are undertaking similar exercises. So, nobody has been asked to leave. I have to be humble to tell you that this same programme that is taking place is not at the instance of the bank itself.

“Of course, we have our own challenges, and we know where we want to take the bank to. That’s Cardoso and his team; myself included. But this popular request actually came from the staff.”

Speaking earlier Kumo, who assured that the Ad-hoc Committee would be fair to all the parties involved in the investigation, noted that the committee’s responsibility is to submit the report to the House.

He said: “Let me start by saying that the House of Representatives, the 10th National Assembly, understands that CBN is implementing the restructuring, reorganising and the early exit programme. I don’t know whether the CBN Governor can explain or brief this committee the objectives of the restructuring, reorganising and the early exit programme to this committee.”