CBN Clarifies Mass Exit of 1,000 Staff, Denies Forced Resignations

By Samaila Emmanuel Bzugu

The Central Bank of Nigeria (CBN) has confirmed that approximately 1,000 staff members left the institution in December. However, the bank has denied allegations of forced resignations, attributing the mass exit to a voluntary retirement program.

The CBN had initiated a voluntary exit program to enable staff members who had reached retirement age or had served for a certain number of years

According to reports, the CBN had initiated a voluntary exit program to enable staff members who had reached retirement age or had served for a certain number of years to retire voluntarily. The program was reportedly aimed at restructuring the bank’s workforce and improving efficiency.

The CBN’s clarification comes amidst speculation and rumors surrounding the mass exit, with some sources suggesting that staff members were coerced into resigning. However, the bank has maintained that the exit program was entirely voluntary and that staff members were given the option to retire with attractive severance packages.

The Central Bank of Nigeria (CBN) has confirmed that approximately 1,000 staff members left the institution in December

The bank has assured stakeholders that the mass exit will not disrupt its operations or impact the country’s financial stability. The CBN has also expressed gratitude to the departing staff members for their service and contributions to the institution.