Central Bank of Nigeria speaks on retiring 1000 workers

News Update

THE Central Bank of Nigeria (CBN) has addressed concerns over its Early Exit Package (EEP), clarifying that it is a voluntary program and not a forced mass retirement.

The CBN revealed that no employee will face negative consequences for opting out.

The Acting Director of Corporate Communications, Mrs. Hakama Ali, explained that the initiative follows consultations with the Bank’s Joint Consultative Council (JCC), which represents the staff.

Ali also pointed out that the policy, previously available only to top executives, is now being extended to eligible employees across all levels.

She noted that staff had requested the inclusion of all cadres in the program, which led to the management’s decision to approve the expanded package.

Ali assured that the programme was intended to support career development and that employees who choose not to participate would not face any repercussions.

“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.