The Central Bank of Nigeria has again clarified that the 1,000 staff members who opted out of service in December 2024 were not forced to quit their jobs.

The CBN Governor, Olayemi Cardoso, stated this on Friday in Abuja at an investigative hearing of the House of Representatives’ ad-hoc committee probing the circumstances leading to the exit of the staff members and how the sum of N50bn severance package for the affected persons was arrived at.

Cardoso added that the affected persons opted to disengage through the voluntary Early Exit Program with payment of full benefits.

Represented by Deputy Director, Corporate Service of the CBN, Bala Bello, Cardoso explained. “The Early Exit Program, Restructuring, and Reorganization“are basically ways and means through which the performance of an organization is optimized by ensuring that round pegs are put in the right holes. The manpower requirement of the bank is actually met.