THE House of Representatives has approved a resolution to probe the massive layoffs at the Central Bank of Nigeria (CBN).
The motion was carried at an emergency session yesterday to mark the 25th anniversary of Nigeria’s unbroken democracy, which began in May 1999.
A member of the House, Jonathan Gaza (SDP, Nasarawa), “worried that this retrenchment without any fair hearing in the last few years without any fair hearings or panels or criteria spelt out could cause the nation a lot in settlement. Terminating appointments arbitrarily will amount to killing the morale of junior staff not knowing what their fate would be”.
The House then mandated the Committee on Banking Regulations to investigate the apex bank’s reforms, which prompted the CBN to reduce its personnel strength.
In January, the CBN, led by Olayemi Cardoso, relocated some of its departments from Abuja to Lagos in order to improve operational efficiency and lower expenses.
Additionally, the House was divided on the employment of mercenaries to combat terrorism and kidnapping in regions of Nigeria.
Some lawmakers were concerned that it would increase insecurity, while others believed it would complement the work of security authorities. The amendment was eventually stepped down.
