Fidelity Advert

Sacked CBN employees seek reinstatement, fault dismissal

Sacked CBN employees seek reinstatement, fault dismissal %Post Title














Some sacked employees of the Central Bank of Nigeria (CBN) have questioned the manner of their dismissal and have asked to be reinstated.

The former CBN workers are still coming to terms with the shock of their unexpected sack and have accused the management of the Apex Bank of maltreatment and injustice.

They have also claimed that many of them had not received their entitlements before the CBN decided to dismiss them.

The former CBN employees said the move violates the bank’s human resource rules and policy.

In a statement on Sunday, the North Central Coordinator of the Conference of Autochthonous Ethnic Communities Development Association Youth Wing, Paul Dekete, called for their immediate reinstatement.

“The purge wasn’t limited to high-level executives. It extended far beyond directors, impacting Deputy Directors and Assistant Directors who formed the backbone of departmental operations,” the statement read.

“These were not junior staff; they were seasoned professionals with deep institutional knowledge.

“For example, the Director of Information Technology was overseeing crucial projects on the very day they were terminated, including efforts to secure international information security certifications for the bank.

“In a particularly egregious case, a Director on special assignment, tasked with leading the bank’s efforts to secure an ISO certification for information security, was sacked on the very day the bank successfully achieved this crucial milestone.

“Central banking relies heavily on robust cybersecurity measures, and this certification is a testament to the Director’s competence and the bank’s commitment to financial security. This abrupt dismissal, on the day of a major accomplishment, raises serious questions about the planning and rationale behind the mass layoffs.”

Dekete said the mass sack violated the bank’s own HR policy, which mandates board approval for executive terminations.

He added that this blatant disregard for due process has raised serious questions about transparency, as he believes the CBN, a federal institution, must adhere to public service rules.

According to him, this dismissal exercise, which was carried out without board approval, lacks a solid legal foundation.

He lamented that the Apex bank offered no clear criteria for the mass sacking.

This, according to him, is a stark departure from their established culture of clear communication with staff during downsizing exercises.

Dekete, on behalf of the sacked CBN workers, also said that loyal employees, some with over 30 years of dedicated service, were cast aside with a cold, impersonal letter stating, “Your services are no longer required.”

“This callous act extended to a Deputy Director who was let go even though she had already completed all the necessary paperwork and her retirement letter was ready to be issued,” Dekete said.

He further berated the CBN, saying that the human cost of this heartless exercise is staggering.

Dekete pointed out that many staff members had used their salaries as collateral for loans tied to their remaining years of service at the CBN.

However, with their abrupt termination, these loans were immediately deducted from their final paychecks, leaving some with nothing and others still indebted to the Apex Bank.

“The impact on these individuals and their families is devastating, with their dreams and financial security shattered in an instant,” he stated.

“The CBN’s purge extended beyond individual hardship, raising serious concerns about ethnic bias.

“Reports indicate that some states saw over 80% of their executive staff removed, with North Central and South Eastern regions disproportionately affected.

“This blatant disregard for the principle of federal character raises troubling questions about the bank’s commitment to national unity.” (The Guardian)

League of boys banner
Leave A Reply

Your email address will not be published.