Home News Finance House Of Reps To Probe CBN Over Mass Dismissal Of 600 Staff
FinanceNews

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

494

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.

Read; Pound Sterling Reaches 21-Month High Against Euro as UK Rate Cut Hopes Fade

About The Author

Related Articles

Despite Empty Booth Setback at TICAD9, Tinubu Regime Falsely Claims Japan Approved ‘Special Visa’ for Nigerians in Kisarazu
NewsPolitics

Despite Empty Booth Setback at TICAD9, Tinubu Regime Falsely Claims Japan Approved ‘Special Visa’ for Nigerians in Kisarazu

As Nigeria’s global image struggles to recover from an avoidable embarrassment after...

Nigerian Passport
NewsTravel

Nigeria’s Passport Hike: How Rising Fees and Western Influence Are Pricing Ordinary Nigerians Out of Global Travel

Nigeria’s recent decision to raise the cost of international passports has sparked...

News

Russia Proposes Establishment Of Nuclear Power Plant in Niger

Russia has proposed building a nuclear power plant in Niger, offering broad...

Rose Gidado, Dual Regulator and Bill Gates-Funded TELA Maize Advocate, Defends GMO Safety With ‘We Won’t Poison Our Own People’
AgricultureNews

Rose Gidado, Nigeria’s GMO Regulator and TELA Maize Advocate, Defends Safety – ‘We Won’t Poison Our Own People’

Rose Gidado, Director at the Department of Agricultural Biotechnology of the National...