The Central Bank of Nigeria (CBN) has reassured its employees and the public that the ongoing mass retirements within the bank are entirely voluntary and not mandatory.
This statement comes amid backlash and a directive from the House of Representatives for the bank to suspend the retirements until a proper investigation is completed.
The House’s concerns were raised following reports of over 1,000 employees being affected by the new retirement scheme.
The CBN explained that the recently introduced early exit package (EEP) is a voluntary programme designed to benefit employees and carries no penalties for those who choose to participate.
Acting spokesperson of CBN Hakama Ali said in a statement on Wednesday that the decision to implement the EEP followed extensive consultations with the bank’s joint consultative council (JCC) and reflects employee interests.
“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,” she said.
According to Ali, this change was made in response to requests from staff representatives advocating for broader inclusion.
“This is an internal corporate matter intended to enhance opportunities for our staff,” Ali added.
