The Central Bank of Nigeria (CBN) has reaffirmed that its 2024 Early Exit Package (EEP) for staff was implemented purely on a voluntary basis and was not designed to target or undermine Northerners working within the institution.
This clarification was made by CBN’s Deputy Governor on Economic Policy, Muhammad Abdullahi, who spoke on Wednesday during a two-day Government-Citizens Interactive Session held in Kaduna, organized by the Sir Ahmadu Bello Memorial Foundation.
Speaking at a plenary session focused on Governance and the Economy, Abdullahi detailed the rationale behind the EEP, highlighting the severe congestion at the bank’s Abuja headquarters as the primary motivating factor. He explained that the overcrowded facilities posed safety hazards, as the building’s limited space had been converted into office areas, blocking exit routes and raising serious insurance concerns.
“The bank was so crowded at the headquarters and jam-packed that there was no space; the limited space and exit routes in the building were converted to offices, and hence not healthy for the workers,” Abdullahi stated. Due to these conditions, the insurance company responsible for the building’s cover expressed difficulty in maintaining the policy, making decongestion necessary.
Abdullahi emphasized that the bank has adequate office space in other locations, such as Lagos and Kaduna, which have absorbed many relocated workers. Some employees transferred to these offices have expressed satisfaction and prefer to remain there rather than return to Abuja.
Importantly, the Deputy Governor underscored that the exit package was a voluntary initiative, designed to ease the pressure on headquarters by offering a substantial financial incentive to those interested. “It is not an agenda against anybody,” he asserted.
Providing historical context, Abdullahi shared that the CBN has been implementing early exit strategies for over two decades, typically activated when management personnel at the top tier become too numerous. In such cases, a committee comprising staff members is set up to propose terms, but participation remains optional.
“Some workers were very happy to take the exit offer and establish a microfinance bank. So, it is an opportunity for those who want to move ahead and do other things with their lives,” Abdullahi said.
Addressing misinformation circulating about the 16 directors within the bank, Abdullahi described attempts to frame the move as targeting northern staff as “unfortunate” and “fake news.”
He reassured the public that many directors from the Northern Region continue to serve at the bank, stressing, “People should stop listening to unpatriotic elements that spread fake news to misguide and incite the masses.”
Further emphasizing impartiality, Abdullahi revealed that “the son of the Secretary to the Government of the Federation was moved out of Abuja to Lagos,” reinforcing that no individual was exempt and that the policy was uniformly applied.
Indeed, the Central Bank’s efforts are part of a broader strategy to optimize office space and staff distribution rather than any regional bias.
okay.ng reports that this clarification aims to dispel rumors and reaffirm the CBN’s commitment to fairness in workforce management.
