CBN Governor defends exit of 1,000 staff amid restructuring

Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Friday said that staff who left the apex bank in December did so voluntarily with payment of full benefits and were not disengaged or forced to quit.

Mr. Cardoso disclosed this during the resumed investigative hearing to probe the disengagement of the 1000 workers and how the N50 billion terminal benefits were arrived at for them.

The hearing was held at the instance of the House of Representatives Ad-hoc Committee to probe the matter, chaired by Hon. Usman Bello Kumo.

The CBN Governor who was represented by the Deputy Director Corporate Service, Mr. Bala Bello explained that the issue of the Early Exit Program and the Restructuring as well as Reorganization was to optimize the Bank for enhanced efficiency, reiterated that the 1,000 members of staff were not sacked.

He said they “are basically ways and means through which the performance of an organization is optimized by putting, ensuring that round pegs are put in the right holes. The manpower requirement of the bank is actually met.

“The manloading, which is the key responsibilities, key performance indicators of the bank, vis-a-vis the number of people driving the performance of that bank, is at a level where it’s optimum, balancing the human resource requirement, the capital requirement, the skill requirement, as well as the IT requirement of the bank.

“You are very much aware, Chairman, the entire world is going through a process of digitizing its operations. And then once that is done, a lot of opportunities are created, just like a lot of redundancies are also equally created.

“And you have had instances in which, in the past, the request for staff to actually exit the bank voluntarily actually emanated on the part of the staff. And I believe the Central Bank is not necessarily the first organization to have done that. I’m very happy to mention, Mr. Chairman and members of the committee, that the early exit program of the Central Bank is 100 percent voluntary.

“It’s not mandatory. Nobody has been asked to leave, and nobody has been forced to leave. It’s a completely voluntary programme that has been put in place.”

—Vanguard

 

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