The Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP), implemented in 2024, was entirely voluntary and not aimed at targeting or destabilising Northern staff.
CBN’s Deputy Governor in charge of Economic Policy, Muhammad Abdullahi, made this clarification on Wednesday in Kaduna at a two-day Interactive Session on Government-Citizen Engagement, organised by the Sir Ahmadu Bello Memorial Foundation.
Speaking during a plenary session on Governance and the Economy, Abdullahi explained that the decision was motivated by severe congestion at the Bank’s headquarters in Abuja.
“The headquarters was overcrowded to the point where even exit routes were converted into offices, creating an unsafe working environment,” he said.
He added that the situation drew concerns from the Bank’s insurance company, which warned that the condition posed a risk to insurability.
“This led to the decision to decongest the headquarters. Fortunately, the CBN has spacious facilities in Lagos, Kaduna, and other parts of the country capable of absorbing staff,” Abdullahi stated.
According to him, many employees who were relocated to other cities have since expressed satisfaction and even prefer their new locations.
“Some of the staff moved to Lagos and Kaduna are now so comfortable that they don’t wish to return to Abuja. It is not an agenda against anybody,” he emphasised.
Abdullahi further explained that the EEP policy is not new, noting that similar programmes have been implemented over the past two decades, typically during periods of top-heavy management.
“A committee made up of staff is usually constituted by the Governor. They design the exit offer, which is completely voluntary. No one is compelled to take it,” he said.
He also revealed that many of those who opted for the EEP used their packages to start businesses, including microfinance banks, adding that the programme is intended to offer employees a fresh opportunity.
On claims that 16 Northern directors were unfairly affected, Abdullahi dismissed the allegation as misinformation.
“There are still many directors from the Northern region currently working at the Bank. People should not allow unpatriotic individuals to spread fake news to incite the public,” he cautioned.
He cited the redeployment of the son of the Secretary to the Government of the Federation from Abuja to Lagos as evidence that the policy spared no one.
“It is a uniform institutional policy, not a regional or political agenda. We urge Nigerians to understand this,” Abdullahi said.
