HOR Halts CBN’s Plan To Retire Over 1000 Workers

The House of Representatives has ordered the Central Bank of Nigeria, CBN, to halt its plan to retire over 1,000 staff members and a N50 billion payoff scheme until an investigation is completed.

In a matter of Urgent Public Importance Sponsored by a member from Ebonyi State, Kama Nkemkama, the House directed its ad-hoc committee to investigate the mass retirement and payoff scheme, citing concerns about the criteria for selection, transparency, and due process.

In his lead debate, the lawmaker expressed worry that the sudden retirement of over 1,000 staff, including directors and senior management, could have significant socio-economic implications, including increased unemployment and public dissatisfaction.

The House has given its committee four weeks to investigate and report back for further legislative action.

Oduyemi Odumade, Edited By Grace Namiji