CBN clarifies voluntary retirement program, debunks forced retirement allegations
Abdullateef Fowewe
The Central Bank of Nigeria has refuted claims of enforcing mass retirements, clarifying that its newly introduced Early Exit Package (EEP) is entirely voluntary and without negative implications for eligible employees.
The apex bank Acting Director of Corporate Communications, Hakama Sidi Ali, in a statement issued on Wednesday, clarified that the decision to implement the EEP followed extensive consultations with the apex bank’s Joint Consultative Council (JCC), which represents staff interests.
It partly reads, “The Early Exit Package, a policy that has historically been extended to executive staff, has now been made available to personnel across all levels of the Bank.”
The statement added that the initiative was introduced in response to requests from staff representatives through the JCC, who advocated for the package’s expansion to include all employees, noting “Following these discussions, management decided to meet this popular demand.”
Amid rising concerns about the implications for staff members who choose not to participate in the EEP, CBN assured employees that the management is dedicated to fostering their professional development and well-being.
The statement described the worries surrounding the programme as unwarranted and reiterated that this initiative is primarily aimed at promoting career growth and internal development.
While emphasising the CBN’s commitment to a supportive work environment, the remark noted that “This is an internal corporate matter intended to enhance opportunities for our staff.”
