CSO Clarifies CBN Retirement Allegations, Confirms Voluntary Option

Integrity and Transparency Watchdog, a civil society organisation, has clarified that recent reports of over 1,000 Central Bank of Nigeria (CBN) employees being sacked are inaccurate.

Instead, the staff opted for voluntary retirement packages to pursue private ventures, including agricultural development and business opportunities.

In a statement signed by its spokesperson, Dr Suleiman Sodangi, the organisation highlighted that the retirement trend is not unprecedented, drawing parallels to a similar initiative by the Nigerian National Petroleum Corporation (NNPC) in September 2023.

At the time, employees nearing retirement accepted packages, with some relocating abroad or returning to their hometowns.

Dr Sodangi refuted claims of mass dismissals at the CBN, stating, “The staff members are not being dismissed; rather, they are taking advantage of a voluntary retirement option that allows them to receive their full entitlements.”
The statement addressed public concerns and criticised the media for sensationalising the situation.

Integrity and Transparency Watchdog urged journalists to verify their facts, emphasising the potential for such misinformation to fuel public anxiety.

Meanwhile, the organisation acknowledged that a few CBN staff were indeed let go following an independent investigation led by Jim Obazee, appointed by President Bola Tinubu.

Dr Sodangi called for responsible journalism, urging media outlets to conduct thorough investigations before publishing reports, no matter how long it takes.

“We appeal to the public to disregard misleading publications targeting CBN’s management and seek clarity from credible sources,” he added.