There are signs that the Central Bank of Nigeria (CBN) could retire approximately 1,000 employees by December 31, 2024.
PulseNets learned from a recent Daily Trust report that this exercise is expected to cost the apex bank N50 billion.
According to sources, the CBN, now under the leadership of Olayemi Cardoso, referred to this decision as a strategic step to realign its workforce.
This development follows a wave of disengagements over the last 10 months, during which the CBN let go of several employees, including 17 directors who served under the former governor, Godwin Emefiele.
PulseNets obtained a circular issued by the CBN three weeks ago, which announced that the application for the Early Exit Package (EPP) was open to all staff levels and would close by Saturday, December 7.
The circular clarified that employees exempt from the program include those yet to be confirmed or those who have served for less than one year “as of the date of publication,” with an effective exit date of December 31, 2024.
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“Financial incentives for all other cadres of staff shall be for the remaining period in service, up to a maximum of 18 months of current grade gross annual emoluments,” the circular added.
However, the apex bank has yet to officially address the reported plans to retire 1,000 employees by the end of the year.
