The Central Bank of Nigeria CBN, is reported to be preparing to retire approximately 1,000 employees as part of a strategic workforce realignment.
A severance package worth over N50 billion was said to have been allocated as the payoff for the exercise.
According to an insider, the retirement initiative is driven by the need to streamline operations and reduce staff numbers under the leadership of the apex bank’s Governor, Olayemi Cardoso.
It was further reported on Monday that a circular released three weeks ago by the CBN noted that the application for Early Exit Package (EPP) was open to all cadres of staff and will close by Saturday, December 7.
