The House of Representatives has launched an investigation into the Central Bank of Nigeria’s (CBN) dismissal of 1,000 staff members and the payment of a ₦50 billion severance package.
Speaker Tajudeen Abbas, represented by Deputy Speaker Benjamin Kalu, directed an Ad-hoc Committee, led by Chief Whip Bello Kumo, to examine the rationale behind the layoffs, especially given the country’s economic challenges, and to scrutinise how the severance package was determined.
Abbas made the request during the opening of an investigative hearing by an Ad-hoc Committee on the matter on Friday in Abuja.
In a statement by the Deputy Speaker’s Chief Press Secretary, Livinus Nwabughiogu, Abbas noted that the investigation would evaluate whether due diligence, fairness, and proper procedures were followed in deciding the ₦50 billion compensation.
“The welfare of employees and the broader economic impact cannot be ignored,” Abbas said, adding that public trust and institutional integrity rely on transparent handling of such decisions.
He urged the CBN and other agencies involved to cooperate fully with the committee as it seeks to address the concerns and ensure accountability
