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House Of Reps To Probe CBN Retrenchment of 600 Employees

On Wednesday, the House of Representatives resolved to look into the situation that led to the recent sacking of about 600 staff members of the Central Bank of Nigeria.

On Wednesday, the resolution of the House followed the adoption of a motion on urgent public importance moved by the member representing Karu/Keffi/Kokona Federal Constituency, Nasarawa State, Mr Jonathan Gbefwi, on the floor during plenary.

The apex bank last week anchored its decision to lay off some of its staff members on the need to reposition the bank for effective operation.

Gbefwi mentioned that the CBN as part of an extensive reform, has been downsizing the workforce “Which has affected close to 600 employees including directors and nearly all staff members in the Governor’s Directorate being terminated.”

According to Gbefwi, the recent downsizing by the apex bank has raised significant concerns and controversies among stakeholders, including the affected employees, labor unions, and the general public.

He explained that those affected by the CBN’s action are top-notch professionals whose skills may be lost to Europe and America, thus, leaving the country short-changed.

He said, “We are worried that these retrenchments, without any sort of fair hearings or panels, could cause the nation a lot in settlements.

“A director’s tenure according to the civil service rules is two terms of four years or 60 years of service, whichever comes first. This makes them like permanent secretaries. The capacity being thrown away be easily replaced?

“The House is worried about staff morale and progression. People choose careers in civil service so that they can end careers like their superiors and mentors who trained them. Seeing their bosses being treated with disregard and like criminals will send a message that professionalism is not rewarded, as well as, meritorious service to our great nation Nigeria.”

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According to the adoption of the motion, Deputy Speaker, Benjamin Kalu mandated the Committees on Banking Regulations and Federal Character to look into the CBN reforms which led to the downsizing of staff members and report to the house within four weeks.

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