House of Reps begin probe of mass sack at CBN

 

The House of Representatives on Wednesday mandated its committees on Banking Institutions and Federal Character to probe the arbitrary retrenchment of about 600 staff by the Central Bank of Nigeria.

 

The resolution followed the adoption of a motion of urgent national importance by Rep Jonathan Gaza Gbefwi (Nasarawa, SDP).

 

Gbefwi in his motion said the CBN as part of its reforms, has been downsizing staff among them, directors.

 

He said the arbitrary manner of the retrenchment without fair hearing and observance of laid down rules has been generating controversies.

 

The lawmaker said terminating appointments of staff arbitrarily will dampen the morale and productivity of staff.

 

He also said that the country cannot afford to throw away well-trained staff with capacities through arbitrary retrenchment by the apex bank.

 

The motion was unanimously passed after a voice vote and referred to the committees on Banking Institutions and Federal Character to investigate and report back within four weeks.