The Speaker of the House of Representatives, Tajudeen Abbas, has called on the Central Bank of Nigeria (CBN) to provide transparency regarding the dismissal of approximately 1,000 staff members and the allocation of a ₦50 billion severance package for the affected employees.
Abbas made the demand on Friday during the opening of an investigative hearing led by the Ad-hoc Committee of the House. The committee, chaired by the Chief Whip, Bello Kumo, is tasked with probing the rationale behind the CBN’s decision amidst Nigeria’s current economic challenges.
Represented by Deputy Speaker Benjamin Kalu, Abbas emphasized the need to protect the welfare and rights of the disengaged staff, stressing the importance of transparency in maintaining public trust.
“The committee has been tasked with examining critical aspects of this issue,” Abbas said. “We aim to understand the rationale behind laying off over 1,000 staff members, especially during challenging economic times. The impact on individuals, their families, and the broader economy cannot be ignored.”
He further noted that the ₦50 billion severance package must be scrutinized to ensure it was determined through due diligence, fairness, and adherence to due process.
While acknowledging the principle of running a leaner and more efficient government, Abbas stressed that such decisions must not compromise employee welfare or institutional stability.
“It is imperative to balance operational efficiency with the rights of employees and the long-term implications for institutional integrity,” he added.
The Speaker urged the CBN and other affected agencies to cooperate fully with the investigative panel to ensure a thorough and fair review of the matter.
The Chief Press Secretary to the Deputy Speaker, Livinus Nwabughiogu, issued a statement reiterating the legislative body’s commitment to ensuring accountability in the matter.
The House panel will investigate both the reasons for the mass layoffs and the methodology used to determine the severance package, particularly in light of Nigeria’s economic realities.
