CBN Says Early Exit Package Not Targeted at Northerners

CBN Says Early Exit Package Not Targeted at Northerners

The Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP) implemented in 2024 was entirely voluntary and not to target or destabilize Northerners working in the apex bank.

The bank’s deputy governor on economic policy, Muhammad Abdullahi, restated this on Wednesday in Kaduna at a two-day interactive session on government-citizen engagement, organised by the Sir Ahmadu Bello Memorial Foundation.

Speaking during the plenary on Governance and Economy, Abdullahi said the bank was congested at its headquarters in Abuja and an offer was made to anyone interested in exiting, but with a huge package.

“The bank was so crowded at the headquarters and jam-packed that there was no space; the limited space and exit routes in the building were converted to offices and hence not healthy for the workers.

“Due to the crowded and suffocating space, the insurance company expressed serious concerns on securing the building with its insurance policy, hence the need for decongestion.

“Meanwhile, there are ample spaces in the Bank’s offices in Lagos, Kaduna and other places that could absorb large number of workers from the headquarters.

“Some of those staff members taken to Lagos and Kaduna are now so happy that they don’t even want to come back to Abuja.

“It is not an agenda against anybody,’’ he said. Abdullahi said the apex bank has been practicing early exit in the last 20 years, but done when the management at the top is very heavy.

“When such is observed, the governor will constitute a committee comprising of the staff members and they will come out with an offer but only for those that want to take it. It is voluntary, not forced on anyone.

“Some workers were very happy to take the exit offer and establish microfinance bank.

`So, is an opportunity for those who want to move ahead and do other things with their lives,” Abdullahi said. He further explained that there was a misinformation and wrong narrative about 16 directors in the bank, adding that it is unfortunate.

“Let me state here, that there are lot of directors who are from the Northern Region and currently working in the bank.

“People should stop listening to unpatriotic elements that spread fake news to misguide and incite the masses. The son of the Secretary to the Government of the Federation was moved out of Abuja to Lagos.

“Nobody was spared. It is a policy of the bank. People should please understand all these,” Abdullahi said. #CBN Says Early Exit Package Not Targeted at Northerners US 10-Year Treasury Bond Yield Falls to 4.36%