Olayemi Cardoso, the Governor of the Central Bank of Nigeria, CBN, clarified that the 1,000 employees who left the bank were not compelled to do so.
This statement was made during the House of Representatives investigative hearing regarding the disengagement of these workers.
The CBN had announced on December 4, 2024, that the Early Exit Package, EEP, offered to employees was voluntary and had no negative repercussions for those eligible. Despite reports of mass layoffs at the apex bank, Cardoso confirmed that the staff were not pressured to resign.
In response to these events, the House of Representatives instructed the CBN to halt the retirement of the 1,000 workers and formed an ad hoc committee to investigate the legality of the process. During the hearing on Friday, Cardoso reiterated that the staff had chosen to leave on their own terms.
Represented by CBN’s deputy director of corporate service, Bala Bello, the apex bank boss also said the early exit programme, the restructuring and reorganisation was to optimise the bank for enhanced efficiency.
“They are basically ways and means through which the performance of an organisation is optimised by putting, ensuring that round pegs are put in right holes.
“The manpower requirement of the bank is actually met. I’m very happy to mention, Mr. Chairman and members of the committee, that the early exit program of the central bank is 100 percent voluntary.
“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 the private sector and the public sector, are undertaking similar exercises.
“So nobody has been asked to leave. With a lot of humility, I will tell you that this same program that is taking place is not at the instance of the bank,” Cardoso said.