The Central Bank of Nigeria (CBN) has dismissed claims that it is enforcing mass retirement, clarifying that its newly introduced Early Exit Package (EEP) is completely voluntary. In a statement released on Wednesday, the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, explained that the package, which has traditionally been available to executive staff, has now been extended to employees at all levels within the bank.
According to Mrs. Sidi Ali, the decision to expand the Early Exit Package was made after extensive consultations with the Bank’s Joint Consultative Council (JCC), which represents the interests of staff members. The initiative was introduced in response to requests from staff representatives, who advocated for broader access to the package.
The CBN further emphasized that the policy is intended to support career growth and internal development and is not meant to pressure employees into early retirement. Mrs. Sidi Ali reassured employees that management remains committed to fostering their professional development and maintaining a supportive work environment.
Addressing concerns from staff about potential negative impacts for those choosing not to participate in the program, Mrs. Sidi Ali described such worries as unfounded. She reiterated that the Early Exit Package is a voluntary option designed to enhance opportunities for staff, rather than to force early retirements.
