The House of Representatives has initiated an investigation into the recent mass retirement of 1,000 Central Bank of Nigeria (CBN) employees and the N50 billion compensation plan earmarked for the affected workers.
During Tuesday’s session, lawmakers approved the motion introduced by Kama Nkemkama, representing Ohaozara/Onicha/Ivo Federal Constituency, who raised concerns about the lack of transparency in the criteria and process for the retirements.
He also questioned the accountability of the proposed payoff scheme.
Nkemkama stressed the economic implications of the sudden disengagement, including potential unemployment and public dissatisfaction, while warning against possible mismanagement of funds critical to Nigeria’s financial stability.
The Speaker, Tajudeen Abbas, directed the formation of an ad-hoc committee to scrutinize the retirement exercise, the legality of the process, and the utilisation of the N50 billion fund.
The House also urged the CBN to pause the implementation of the retirements and called on the Ministry of Labour to safeguard the rights of the affected employees.
