The House of Representatives has set up a committee to investigate the Central Bank of Nigeria’s 1,000 staff members’ mass retirement.
The House also decided to determine the N50 billion compensation budget for the apex bank’s disengaged employees’ settlement.
The House’s resolution came after a motion of urgent public interest, presented by Mr. Kama Nkemkama, the member for Ohaozara/Oncha/Ivo Federal Constituency, Ebonyi State, was adopted.
Prior reports show that the CBN is preparing to retire approximately 1,000 employees as part of its strategic workforce realignment.
Speaking on the motion titled, “Need to investigate the retirement of over 1,000 staff of the Central Bank of Nigeria and the associated N50bn payoff scheme,” Nkemkama urged his colleagues to support rise to the occasion and show adequate interest in the matter.
He stated that as part of its human resource reorganization plan, CBN announced a N50 billion payout plan to compensate the impacted employees, which the House has to look into.
“The abrupt mass retirement of more than 1,000 employees, including directors and senior management, is concerning to the House,” he continued.
“Raises critical questions about the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labor laws,” he said of the developing situation.
He emphasized that worker disengagement “has socio-economic implications for the affected individuals, their dependents, and the broader economy, potentially leading to increased unemployment and public dissatisfaction.”
