MIRIAM NNOLI 
The House of Representatives on Tuesday directed the Central Bank of Nigeria(CBN) to stop the implementation of the retirement of 1,000 staff and the associated payoff scheme until the conclusion of an investigation.
Leading the debate on the motion, Kama Nkemkama (LP, Ebonyi) drew attention to media reports indicating that the Central Bank of Nigeria (CBN) plans to retire over 1,000 staff across various levels as part of its restructuring process under the Acting Governor’s leadership.
The Rep members decided to probe the mass retirement of over 1,000 CBN staff to assess the criteria, process, and legality of the exercise.
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Similarly, the house also aims to investigate the N50 billion payoff scheme to ensure transparency, accountability, and proper use of funds.
An ad hoc committee will be formed to engage with CBN leadership to evaluate the potential economic and institutional impacts of retirement on Nigeria’s financial sector
Adopting a motion of urgent public importance sponsored by Kama Nkemkama, the House asked the Federal Ministry of Labour and Employment to ensure that the rights of the affected staff are protected by Nigerian labour laws.
