The Central Bank of Nigeria is set to retire at least 1,000 of its workforce before the end of December 2024, Daily Trust reports.
Sources at the apex bank stated that the retirement plan by the CBN will gulp over N50 billion as payoff to those affected by the massive layoff.
According to the source, this process is in alignment with the re-organisation by the bank’s Board of Directors led by Olayemi Cardoso.
The BoDs had expressed their commitment to reducing the workforce of the Central Bank as it has disengaged several workers in the past 10 months.
This included 17 directors who had served under the immediate past governor, Godwin Emefiele who is facing charges before a Federal High Court.
While these directors are yet to be replaced, a circular released by the bank three weeks ago said the application for Early Exit Package (EPP) was open to all cadres of staff and will close by Saturday, December 7.
Those exempted from the EPP are staffers who are yet to be confirmed or who have served less than one year “as of the date of publication with the effective date of exit set at 31 December, 2024.”
