House of Reps To Probe ‘Mass Layoff’ Of CBN Workers

The House of Representatives (HoR) has passed a resolution to investigate the Central Bank of Nigeria (CBN) ‘s mass termination of workers’ appointments.

The resolution was passed at an emergency plenary session on Wednesday to commemorate years of unbroken democracy since May 1999.

Jonathan Gaza, a member of the House representing Nasarawa under the Social Democratic Party (SDP), has strongly criticised the abrupt termination of appointments and highlighted the lack of fair hearings.

I am worried that this reduction, which has occurred without any fair hearings, panels, or criteria spelt out in the last few years, could cause the nation a lot of trouble in a settlement, he said.

He adds that terminating appointments arbitrarily will kill the morale of junior staff, who will not know their fate.

The House mandated the committee on banking regulations to investigate the reform needed to justify CBN’s downsizing of its staff.

Also, in January, the CBN Chairman Olayemi Cardoso moved some departments of the apex bank from Abuja to Lagos, stating the need to increase the bank’s operational efficiency and reduce operating costs.

While the House did not summon Cardoso for any possible explanation, a resolution was passed to launch an investigation into the mass termination of appointment at the apex bank.

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