The House of Representatives has stepped in to suspend the Central Bank of Nigeria’s (CBN) planned mass retirement of over 1,000 employees. The move follows concerns over the transparency and fairness of the retirement process, as well as questions surrounding a proposed N50 billion payout.
The decision came after a motion of urgent public importance was raised by Kama Nkemkama, a representative from Ebonyi State. Lawmakers unanimously agreed that an immediate investigation was necessary to protect the interests of the affected workers and ensure compliance with Nigerian labour laws.
The House has directed the Federal Ministry of Labour and Employment to closely monitor the situation and safeguard the rights of the employees. Lawmakers expressed doubts about the retirement criteria, questioning whether the process adhered to proper legal and ethical standards. They also raised fears about the potential misuse of public funds in the N50 billion payoff scheme.
To address these concerns, an ad hoc committee will be established to thoroughly review the situation. The committee will examine the retirement plan’s implications for the financial sector and ensure that the rights of the workers are fully protected.
