Reps to probe CBN over sacking of ‘600’ officials

The house of representatives has resolved to probe the Central Bank of Nigeria (CBN) over the sacking of “600” officials.

The legislators passed the resolution during the plenary session on Wednesday after the adoption of a motion sponsored by Jonathan Gaza from Nasarawa state.

The apex bank has reportedly dismissed over 300 employees in recent weeks, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking officials.

While moving the motion, Gaza said as part of an “extensive reform,”  the CBN has been “downsizing the workforce, which has affected close to 600 employees, including directors”.

Gaza said the exercise by the CBN has raised “significant” concerns and controversies among the masses and stakeholders, including the affected employees and labour unions.

“More than ever before, there is a dire need for meritocracy in institutions and the importance of maintaining and sustaining strong institutions,” the lawmaker said.

“Nigeria currently has the highest association of chartered certified accountants and chartered financial analysts. The nation is at a critical point of economic resuscitation. We, therefore, cannot afford to develop capacity and lose it to Europe and America.”

The lawmaker said these retrenchments, without any sort of fair hearings or panels, could cause the nation a legal battle that may end in “a lot of settlements”.

“A director’s tenure according to the civil service rule is two terms of four years or 60 years of service, whichever comes first, I believe. This makes them like permanent secretaries. The capacity being thrown away be easily replaced?

Gaza said the sacking of the directors may affect the morale of junior workers.

“People choose careers in civil service so that they can end careers like their superiors and mentors who trained them,” he said.

“Seeing their bosses being treated with disregard and like criminals will send a message that professionalism is not rewarded, as well as meritorious service to our great nation Nigeria.

“Considering the president’s renewed hope agenda, which is meant to improve lives, will only to more hardship and will lead to another batch of brain drain outside Nigeria.”

The motion, which was not debated, was unanimously adopted when it was put to a voice vote by Ben Kalu, the presiding officer.

Consequently, the house mandated the committee on banking regulations and federal character to probe the circumstances behind the dismissal of the CBN staff and report back within four weeks for further legislative action.