Voluntary Exit, Not Forced
The Central Bank of Nigeria (CBN) has clarified that its Early Exit Package (EEP) was fully voluntary, not forced.
Speaking in Kaduna, Deputy Governor Muhammad Abdullahi said the policy was never designed to target Northern staff or destabilize anyone.
Why the Exit Offer Was Introduced
He explained the CBN headquarters in Abuja was overcrowded and unsafe. Some exits were even turned into offices.
Due to the congested space, the insurance company raised safety concerns, pushing the bank to act.
Relocation Brought Relief to Workers
Abdullahi stated that many staff moved to Kaduna and Lagos were now happier and more productive.
“There is no hidden agenda. Many don’t even want to return to Abuja,” he noted.
Not a New Policy
He emphasized the Early Exit program had existed for over 20 years.
It usually happens when there are too many top-level staff. A committee is then set up to offer the package — only to those interested.
Opportunity, Not Marginalization
Some employees used their exit benefits to start new ventures, such as microfinance banks, Abdullahi revealed.
He urged the public not to believe fake news suggesting that 16 directors were unfairly treated or removed.
Northern Staff Still Well Represented
He reassured Nigerians that many Northern directors are still holding key positions in the bank.
“No one was spared — not even the son of the SGF. The policy was applied equally,” he said.
