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CBN Announces Major Workforce Reduction: 1,000 Employees to Retire by December

CBN’s Retirement Plan: How 1,000 Employee Exits Will Shape Its Future

There are reports indicating that the Central Bank of Nigeria (CBN) plans to retire around 1,000 employees by December 31, 2024.

This move is part of a broader restructuring effort under the leadership of Acting Governor Dr. Olayemi Cardoso, aiming to enhance efficiency and align the institution with new strategic objectives.

The affected employees are reportedly those whose roles are deemed redundant following recent operational reviews.

The retirement exercise is expected to include a voluntary retirement package, though the specifics regarding compensations or alternatives for the staff have not been publicly disclosed yet.

This decision comes amidst other significant financial reforms being pursued by the federal government to revitalize the Nigerian economy.

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