Arewa Youths Kick Against CBN’s Planned Layoff of 1,000 Staff, Describe Move as “Economic Sabotage”

By Emmanuel Kwada

The Arewa Youth Assembly has strongly opposed the Central Bank of Nigeria’s plan to lay off 1,000 staff members, citing that it will further destabilize the economy and increase poverty levels in the country.

According to Mohammed Salihu Danlami, the Speaker of the assembly, the timing of the layoffs is imprudent, especially considering the country’s current economic distress.

The CBN’s decision has been deemed a profound injustice against the Nigerian people, particularly those from the Northern region. Danlami emphasized that the layoffs will not only exacerbate existing hardships but also reveal a disturbing disregard for the welfare of citizens.

He called on the CBN to demonstrate transparency by publishing the list of affected employees and their states, and to ensure that the layoffs comply with the Federal Character Principles

He called on the CBN to demonstrate transparency by publishing the list of affected employees and their states, and to ensure that the layoffs comply with the Federal Character Principles. This move by the Arewa Youth Assembly comes as the CBN has been trying to reassure the public about the safety and stability of the country’s banking industry, following widespread unconfirmed rumors about the health of Nigerian banks.

The CBN has stated that Nigerian banks are still safe and sound, and that the public should not panic and continue with their usual banking activities. However, the planned layoffs have sparked concern and opposition from various groups, including the House of Representatives, which has directed the CBN to suspend the mass retirement of over 1,000 staff members.