Reps To Probe CBN Retrenchment Of 600 Staff


The House of Representatives Wednesday mandated its Committee on Banking and Currency and Federal Character to investigate the circumstances leading to the recent sack of about 600 staff members of the Central Bank of Nigeria (CBN).

The decision was taken following the adoption of a motion on urgent public importance sponsored by Hon. Jonathan Gbefwi Gaza (SDP, Nasarawa) at plenary.

Presenting the motion, Gbefwi noted that the CBN as part of an extensive reform, has been downsizing the workforce “Which has affected close to 600 employees including directors and nearly all staff members in the Governor’s Directorate being terminated.”

He said, “The recent downsizing by the apex bank has raised significant concerns and controversies among stakeholders, including the affected employees, labour unions, and the general public.”

The lawmaker lamented that those affected by the CBN.s action are top-notch professionals whose skills may be lost to Europe and America, thus, leaving the country short-changed.

According to him, “We are worried that these retrenchments, without any sort of fair hearings or panels, could cause the nation a lot in settlements.

“A director’s tenure according to the civil service rules is two terms of four years or 60 years of service, whichever comes first. This makes them like permanent secretaries. The capacity being thrown away be easily replaced?

“The House is worried about staff morale and progression. People choose careers in civil service so that they can end careers like their superiors and mentors who trained them.

“Seeing their bosses being treated with disregard and like criminals will send a message that professionalism is not rewarded, as well as, meritorious service to our great nation Nigeria.”

It will be recalled that the CBN has embarked on a massive reorganisation leading to the retrenchment of many staff.

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