The Central Bank of Nigeria (CBN) has said its Exit Package (EEP) is entirely voluntary and without negative consequences, adding that it has nothing to do with force mass retirement.
The Acting Director of Corporate Communications, CBN, Mrs. Hakama Ali, said the EPP was formerly accorded to the executives but is now available to staff at all levels.
She emphasised that the initiative is an internal corporate matter designed to promote career development for staff
She said consultations were made with the bank’s joint consultative council, a body representing staff interests, before a decision on its implementation was made.
“For some time, staff representatives through the council 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.
Further speaking, Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded.
This followed a call by the House of Representatives on the CBN to suspend its plan to retire 1,000 of its staff.
To ensure transparency, accountability, and the proper utilization of funds, the lawmakers at Tuesday’s plenary resolved to set up an ad hoc committee to investigate the retirement process, which will see the officials receive a severance package totaling over N50 billion from CBN.
