BREAKING: Yemi Cardoso’s CBN Faces Probe For Sacking 600 Staff Members

Yemi Cardoso’s CBN will face a probe for sacking 600 Staff Members.

 

NewsOnline Nigeria reports that the House of Representatives on Wednesday, May 29, directed its committee on banking institutions to investigate the circumstances leading to the recent sack of about 600 staff members of staff by the Central Bank of Nigeria (CBN).

 

This followed the adoption of a motion of urgent public importance by the member representing Karu/Keffi/Kokona Federal Constituency of Nasarawa State, Hon Jonathan Gbefwi.

 

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NewsOnline Nigeria reported that the apex bank in in recent times laid off some of its staff including Directors and other staff based on what it called the need to reposition the bank for effective operation.

Leading the debate on the motion, Gbefwi said 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 him, “The recent downsizing by the apex bank has raised significant concerns and controversies among stakeholders, including the affected employees, labour unions, and the general public.”

He lamented 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.”