HOUSE OF REPRESENTATIVES DIRECTS CBN TO SUSPEND RETIREMENT OF OVER ONE THOUSAND OF IT’S STAFF 03-12-24
By Sadiq Aminu The House of Representatives has directed Central Bank of Nigeria, CBN to suspend implementation of the mass retirement of over one thousand Staff and the payoff scheme pending the outcome of the House House investigation.
The House also directed its Ad-hoc Committee to Investigate the intended mass retirement of over one thousand Staff of the Central Bank of Nigeria, CBN
This decision by the Green Chamber was sequel to a motion of Public importance sponsored by the Member representing Ohaozara, Oncha, Ivo Federal Constituency of Ebonyi State, Mr Kama Nkemkama.
The House also directed its relevant Ad-hoc Committee to equally investigate the N50 Billion Payoff Scheme to compensate the affected staff by the Apex Bank.
According to Mr. Nkemkama, the sudden mass retirement of over one thousand staff, including directors and senior management, raises critical questions about the criteria for selection, transparency, and adherence to due process.
The House noted that such a significant decision has socio-economic implications for the affected individuals, their dependants, and the broader economy, which is likely to increased unemployment and public dissatisfaction.
Adopting the motion the House referred the motion to its relevant committee and report back to the House within four weeks for further legislative action.