Abuja, May 27, 2024- The House of Representatives is to investigate the retrenchment of about 600 employees by the Central Bank of Nigeria (CBN)
The House took the decision following the adoption of a motion by Jonathan Gbefwi, a member representing Karu/Keffi/Kokona Federal Constituency, Nasarawa State, as a matter of urgent public interest on Wednesday.
Gbefwi alleged that the CBN had been reducing its personnel with the recent retrenchment of about 600 employees, including directors and nearly all staff members in the Governor’s Directorate being terminated.
According to him, the apex bank’s recent reduction has sparked widespread worry and controversy among stakeholders, including affected personnel, labour unions, and the general public.
He said those affected were top professionals whose skills might be lost to Europe and America.
“We are worried that these retrenchments, without any sort of fair hearings or panels, could cause the nation a lot of trouble 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. Can the capacity being thrown away be easily replaced?
“The House is worried about staff morale and progression. People choose careers in the 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.”
After the adoption of the motion, Benjamin Kalu, Deputy Speaker, who presided over plenary, directed the Committees on Banking Regulations and Federal Character to investigate the CBN) changes that resulted in staff downsizing and report back to the House within four weeks. (GBN)
