The Central Bank of Nigeria (CBN) has refuted claims of enforcing mass retirements, clarifying that its newly introduced Early Exit Package (EEP) is entirely voluntary and without negative implications for eligible employees.
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In a statement issued on Wednesday, the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, explained that the decision to implement the EEP followed extensive consultations with the Bank’s Joint Consultative Council (JCC), which represents staff interests.
“The Early Exit Package, a policy that has historically been extended to executive staff, has now been made available to personnel across all levels of the Bank,” Mrs. Sidi Ali stated.
She added that the initiative was introduced in response to requests from staff representatives through the JCC, who advocated for the package’s expansion to include all employees.
“Following these discussions, management decided to meet this popular demand,” she added.
Amid rising concerns about the implications for staff members who choose not to participate in the EEP, Mrs. Sidi Ali assured employees that the management is dedicated to fostering their professional development and well-being.
She described the worries surrounding the programme as unwarranted and reiterated that this initiative is primarily aimed at promoting career growth and internal development.
“This is an internal corporate matter intended to enhance opportunities for our staff,” she concluded, emphasizing the Bank’s commitment to a supportive work environment.
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