Speaker Questions Sudden Termination Of Staffs “Central bank Under Fire”

The Speaker of the House of Representatives, Tajudeen Abbas, has called on the Central Bank of Nigeria (CBN) to clarify the recent termination of approximately 1,000 staff members and the allocation of a N50 billion severance package to the affected employees.

Abbas made this appeal during the inauguration of an investigative hearing by the House’s Ad-hoc Committee on Friday in Abuja. The committee, led by Chief Whip Bello Kumo, is tasked with probing the rationale behind the mass layoffs, especially in the context of the nation’s ongoing economic challenges.

Represented by Deputy Speaker Benjamin Kalu, Abbas stressed the importance of transparency and fairness, emphasizing that the rights and welfare of the dismissed employees must be protected. He also instructed the committee to scrutinize how the N50 billion severance package was calculated.

A statement issued by Livinus Nwabughiogu, Chief Press Secretary to the Deputy Speaker, quoted Abbas as saying, “This investigation seeks to address several critical questions. We need to understand the justification for laying off over 1,000 employees at a time of economic hardship. The ripple effects on individuals, families, and the broader economy cannot be ignored.

“The committee will also examine the methodology behind the N50 billion severance package, ensuring due diligence, fairness, and adherence to established procedures were observed in arriving at this amount.”

Abbas emphasized the importance of transparency to uphold public trust and safeguard institutional integrity. While recognizing the need for a leaner and more efficient government, he underscored the necessity of balancing such reforms with employee welfare and institutional stability.

He further urged the CBN and other involved agencies to cooperate fully with the panel, enabling it to fulfill its mandate effectively.