Claims of coerced mass retirements have been denied by the Central Bank of Nigeria (CBN), which has clarified that its Early Exit Package (EEP) was completely voluntary and had no adverse effects on qualified employees.CBN explains the early departure policy for employees

Speaking this afternoon in Abuja, Mrs. Hakama Sidi Ali, the Ag. Director of Corporate Communications, said that the Bank’s Joint Consultative Council (JCC), which represents the interests of its employees, had been consulted extensively before the decision to carry out the exercise was made. Follow Us For More;

The EEP, a long-standing policy that was previously only open to the executive cadre, is now accessible to qualified employees at all levels, according to Mrs. Sidi Ali.

Staff representatives had been urging management to approve the early exit compensation for all cadres through the JCC for a while. Management made the decision to comply with this public demand after these discussions,” she stated.

In response to worries about possible consequences for employees who refuse the package, Mrs. Sidi Ali reiterated management’s dedication to fostering workers’ wellbeing and career advancement, calling the worries baseless. She further underlined that the program is an internal business issue intended to support employees’ career growth.