Mass retirement is voluntary, not forced, CBN reassures

Following the growing outrage over the announcement mass retirement of staff of the Central Bank of Nigeria, the apex bank has assured that no one would be forced to retire.

According to the bank, the newly introduced Early Exit Package (EEP) is entirely voluntary and without negative implications for eligible employees.

The Acting Director of Corporate Communications, Hakama Ali, in a statement said that the decision to implement the EEP followed extensive consultations with the Bank’s Joint Consultative Council (JCC).

Ali said the decision also represents staff 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.

The bank also noted that the EEPwas introduced following request from

staff representatives through the JCC, who advocated for the package’s expansion to include all employees.

“This is an internal corporate matter intended to enhance opportunities for our staff,” Ali added while assuring the public of CBN’s commitment to a supportive work environment for all staff.