House Of Reps To Probe CBN Over Mass Dismissal Of 600 Staff

Confidence UbaniMay 29, 20241 Mins read115

The House of Representatives is set to investigate the recent dismissal of about 600 employees by the Central Bank of Nigeria (CBN). This decision followed the adoption of a motion of urgent public importance moved by Rep. Jonathan Gbefwi (SDP, Nasarawa) during a plenary session on Wednesday.

Gbefwi highlighted that the CBN’s ongoing reforms have resulted in significant downsizing, which recently impacted nearly 600 employees, including directors and many staff members in the Governor’s Directorate. He noted that this action had raised concerns among stakeholders, including the affected employees, labour unions, and the general public.

He expressed concern that dismissing these top professionals could lead to a loss of skilled talent to Europe and America, potentially leaving Nigeria disadvantaged. He also criticised the lack of fair hearing or formal panels for those dismissed, suggesting this could lead to substantial settlements.

“A director’s tenure according to civil service rules is two terms of four years or 60 years of service, whichever comes first. This makes them like permanent secretaries. Will 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,” Gbefwi argued.

The House mandated the Committees on Banking Regulations and Federal Character to investigate the CBN’s reforms and the resulting downsizing. The committees are expected to report back within four weeks for further legislative action.

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