The Central Bank of Nigeria (CBN) has reaffirmed that its Early Exit Package (EEP) implemented in 2024 was entirely voluntary and not designed to marginalise or destabilise employees from Northern Nigeria.
The clarification was made by the CBN Deputy Governor (Economic Policy), Muhammad Abdullahi, during a two-day Interactive Session on Government-Citizen Engagement held in Kaduna. The event was organised by the Sir Ahmadu Bello Memorial Foundation.
Speaking during a plenary session on Governance and the Economy, Abdullahi said the policy was introduced to address serious congestion at the CBN headquarters in Abuja.
“The headquarters had become overcrowded. The limited space and even exit routes were converted into office areas, which created an unhealthy and unsafe environment for staff,” he explained.
He noted that due to the overpopulation, the Bank’s insurance company raised safety concerns, prompting the need for decongestion.
“We have ample space in our offices in Lagos, Kaduna, and other locations that can comfortably accommodate staff. In fact, some of those who were relocated to Lagos and Kaduna are now so satisfied that they don’t want to return to Abuja,” he added.
Abdullahi emphasised that the EEP has been part of CBN’s internal policy for over 20 years and is only activated when the management structure becomes top-heavy.
“A committee—made up of staff—is usually formed to design the package. It is strictly voluntary, and not imposed on anyone,” he said.
He noted that several employees willingly embraced the offer and have gone on to start new ventures, including microfinance banks.
“It’s a positive opportunity for those seeking to explore other paths in life,” he said.
Reacting to claims of ethnic bias in the exit and redeployment processes, Abdullahi debunked misinformation about the alleged targeting of 16 Northern directors.
“There are still many directors from the Northern region working in the Bank. The narrative being circulated is false and unfortunate,” he said.
He cautioned against listening to divisive rhetoric spread by unpatriotic individuals seeking to mislead the public.
“Even the son of the Secretary to the Government of the Federation was redeployed from Abuja to Lagos. Nobody was exempt. It is an institutional policy aimed at organisational efficiency,” he added.
Abdullahi urged Nigerians to approach such issues with understanding and not fall for misinformation meant to incite public sentiment.
