…. Outcome of Extensive Deliberation With JCC
The Central Bank of Nigeria (CBN) has explained that its staff early exit plan is entirely voluntary and not forced.
The clarification became necessary to address public misunderstanding and claims of forced mass retirements, stressed that its Early Exit Package (EEP) is a long standing policy of the bank which hitherto only applied to Executive cadre of staff.
Speaking in Abuja on Wednesday, December 4, 2024, the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, stated that the decision to implement the exercise was the outcome of extensive consultations with the Bank’s Joint Consultative Council (JCC), a body representing staff interests.
Mrs. Sidi Ali explained that the EEP has now been made available to eligible staff at all levels. “For some time, staff representatives through the JCC had called on management to approve the early exit package for all cadres. Following these discussions, management decided to meet this popular demand,” she said.
Addressing concerns about potential repercussions for staff who decline the package, Mrs. Sidi Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded. She further emphasized that the initiative is an internal corporate matter designed to promote career development for staff.