Connect with us

Business

Reps Summon Cardoso Why 1,000 Workers Left The CBN

Published

on

Workers Left The CBN
Cardoso: The CBN Governor has been explaining why 1,000 workers left the service of the apex bank in just one month

The Central Bank of Nigeria is Nigeria’s apex monetary institution and how1,000 workers left the CBN in one month is now a raging issue.

This was the reason the House of Representatives Friday summoned its management to find out why 1,000 workers left service in December.

Also on the table was how N50bn severance package for the affected persons was arrived at.

Appearing before the house’s adhoc committee, CBN Governor Olayemi Cardoso clarified that the 1,000 staff members opted out on their own, and not forced to quit their jobs.

Advertisement

The affected persons used the voluntary Early Exit Program of the bank which comes with payment of full benefits.

Explaining why why 1,000 workers left CBN in December, Deputy Director, Corporate Service of the CBN, Bala Bello, who represented Cardoso said the concerned persons followed an existing exit window:

 READ ALSO: Naira Scarcity: CBN Hammer To Fall On Banks Colluding With PoS Operators

“The Early Exit Program, Restructuring and Re-organisation “are basically ways and means through which the performance of an organization is optimized by ensuring that round pegs are put in right holes. The manpower requirement of the bank is actually met.

Advertisement

“I’m very happy to mention that the early exit program of the CBN is 100 per cent voluntary. It’s not mandatory. Nobody has been asked to leave, and nobody has been forced to leave. It’s a completely voluntary programme that has been put in place.”

“I believe several organisations across the world, and even within this country, both in terms of the private sector and the public sector, are undertaking similar exercises.”

“In the past, we had instances in which cases of stagnation and lack of career progression appear. In an organisation, you’ve got a pyramid where from each level to the next level, the gap keeps narrowing. If not, you are going to have a quasi-organisation, an inverted pyramid.

Advertisement

“It gets to the level where you have, for example, 30 departments in the Central Bank. You cannot have 60 directors manning 30 departments. It’s not going to work.

READ ALSO: 20-Year-Old N200 Notes Video Surfaces As Hoarders Release More Cash

“Once those vacancies are filled, it gets to a level where some people, even though they are very qualified, able, and willing, but the vacancies are not there. And then they got to a level where they are stagnated for a period of time.”

Having heard from the CBN governor, the committee is now to submit a report to the house, Bello Kumo stated.

Advertisement