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CBN Earmarks N50bn For Early Exit Package Of 1,000 Employees

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The overhauling of the human capital at the Central Bank of Nigeria (CBN) has taken a new turn, with the sum of N50 billion earmarked for the Early Exit Package (EPP) of about 1,000 employees this December.

This was detailed in a circular issued three weeks ago by the CBN, in which it called for applications for EPP from certain classes of employees.

The offer would close close by Saturday, December 7, Biztellers reports.

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The move is seen as part of a strategic realignment of the CBN’s workforce, by the Board of Governors, led by Olayemi Cardoso, who already expressed commitment to reviewing the workforce.

According to the circular, the class of employees exempted are those yet to be confirmed or who have served less than one year “as of the date of publication with the effective date of exit set at 31 December, 20, 2024”.

This effectively excludes those hired for and by the President Bola Ahmed Tinubu administration, under the Cardoso governorship.

Recall that the apex bank has been undergoing a strategic refit in critical areas, including operational bases and human capital.

Probably as part of moves to take firm control, the CBN in the last 10 months, had disengaged many employees, including 17 directors, who served under the immediate past governor, Godwin Emefiele.

Speculations are that the next phase would be to replace the 17 directors after pruning the workforce.

Discreet findings show that as many as 860 staff from the various departments have already applied for the EPP.

According to the apex bank’s management, the EEP is a voluntary programme offering eligible employees an incentive to exit the CBN early, “while providing employees seeking other career options a great opportunity for early exit.”

It cautioned that it would not entertain a rethink from workers who formally moved to take advantage of the EPP, and make it clear that all completed and submitted applications are final.

The EEP stated that financial incentives for senior supervisors to deputy managers shall be for the remaining period in service, up to a maximum of 60 months of current grade’s gross annual emoluments.

It also noted that financial incentives for managers shall be for the remaining period in service, up to a maximum of 36 months of current grade’s gross annual emoluments.

“Financial incentives for all other cadres of staff shall be for the remaining period in service, up to a maximum of 18 months of current grade gross annual emoluments,” it added.

Also the EEP also made provisions for non-financial incentives, including “financial planning and entrepreneurial capacity building programme, purchase of laptops in line with the Bank’s current policy and extended medical care for an additional three months for self and dependents after the expiration of the three-month current provision of access to medical windows care by exited employees.”

It was gathered that those grabbing the offer with two hands are those believed to have been brought in by embattled former CBN governor, Emefiele.

This set of workers already know that the new regime holds their loyalty in doubt and would axe them for the flimsiest of excuses.

What makes it a win-win for the Cardoso leadership is that it presents a peaceful exit for those who can constitute moles, while also offering vacancies to be filled by allies.

International News

Mahama Sworn In As Ghana’s President, Refers To Tinubu As ‘President of Ghana’

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In a significant political development, John Dramani Mahama was officially sworn in as Ghana’s President today, January 7, succeeding Nana Akufo-Addo.

The 65-year-old leader begins his second tenure in the role, having previously served as president from July 2012 to January 2017.

During the inauguration ceremony, Mahama made an unexpected slip, mistakenly referring to Nigerian President Bola Ahmed Tinubu as the “President of Ghana.”

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The statement, made in front of a global audience, quickly went viral.

This marks Mahama’s second time at the helm.

He initially assumed office in July 2012, following the passing of then-President John Evans Atta Mills. After completing Mills’ term, Mahama won the 2012 presidential election, serving a full term before stepping down in 2017.

Today’s inauguration was attended by dignitaries and citizens eager to witness Mahama’s return to power.

Despite the momentary gaffe, the ceremony was hailed as a testament to Ghana’s vibrant democracy.

See video below:

 

 

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NEWS

Ex-Prison Officer Jailed For 15 Months Over Viral Inmate Scandal

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Linda De Sousa Abreu, a former officer at HMP Wandsworth in the United Kingdom, has been sentenced to 15 months in prison after being caught on camera engaging in s*xual activity with an inmate.

The 30-year-old was identified by senior staff after the video circulated online, garnering widespread attention.

Abreu was arrested at Heathrow Airport while attempting to board a flight to Madrid with her father. She had previously pleaded guilty to misconduct in public office, according to BBC reports.

The incident occurred between 26 and 28 June at Wandsworth Prison.

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The court also heard that a second video, showing Abreu performing a sxual act with the same inmate, was found on her prison-issued body-worn camera. She admitted to having sx with the prisoner on another occasion.

Judge Martin Edmunds KC stated that the viral video was not an isolated incident but part of a pattern of repeated misconduct.

A spokesperson for the Prison Service commented: “While the vast majority of Prison Service staff are hardworking and honest, we are increasingly identifying the small minority who breach the rules by strengthening our Counter Corruption Unit and tightening our vetting processes.

“As today’s sentencing shows, where officers fall short of our high standards, we action.”

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Tinubu Okays Bulletproof SUVs, Medical Benefits, Others For Retired Army Generals

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In a significant development aimed at improving the welfare of senior officers in the Nigerian Armed Forces, President Bola Ahmed Tinubu has approved a range of enhanced retirement benefits for generals who served 35 years in service.

This comes after the president signed the Harmonised Terms and Conditions of Service (HTACOS) for Officers and Enlisted Personnel on December 14, 2024.

The new HTACOS, which had been under review since the administration of former President Muhammadu Buhari, includes unprecedented benefits such as luxury vehicles, paid foreign medical treatment, and a suite of domestic and security aids.

READ MORE: Tragic Fire Claims Lives of Sokoto SSG&’s Daughter, Three Grandchildren

The retirement benefits focus on the highest ranks of the military, starting with the Chief of Defence Staff (CDS), Chief of Army Staff (COAS), Chief of Naval Staff (CNS), and Chief of Air Staff (CAS).

Each retiring service chief will receive a bulletproof SUV or equivalent vehicle as part of their retirement package.

According to the document, the benefits for retiring service chiefs include: “A bulletproof SUV and a Peugeot 508 or equivalent backup vehicle, maintained by the Armed Forces and replaced every four years.

“Domestic Staff: Five aides, including two cooks, two stewards, and one civilian gardener.

“Medical Benefits: Free medical care in Nigeria and abroad, with annual allowances for foreign medical trips.

“Security and Personal Assistance: One Aide-de-Camp (ADC) or Security Officer, one Special Assistant or Personal Assistant, three military drivers, and a military orderly.

“Residential Guards: Standard guard units of up to nine soldiers, and escorts provided by military formations as needed.

The document also states, “The following benefits shall be applicable: One bullet-proof SUV or equivalent vehicle to be maintained by the Service and to be replaced every four years. One Peugeot 508 or equivalent backup vehicle.

“Retention of all military uniforms and accoutrements to be worn for appropriate ceremonies; five domestic aides (two service cooks, two stewards, and one civilian gardener); one Aide-de-Camp/security officer; one Special Assistant (Lt/Capt or equivalents) or one Personal Assistant (Warrant Officer or equivalents); standard guard (nine soldiers).”

While service chiefs receive the most extensive packages, other general officers are also entitled to significant benefits:

Lieutenant Generals and Equivalents: Two Toyota Hilux vehicles or one Toyota Land Cruiser, annual medical treatment allowances of $20,000, two cooks, two stewards, four residential guards, and two drivers.

Major Generals: One Toyota Land Cruiser or equivalent, $15,000 for annual medical treatment, one cook, one steward, two residential guards, one service orderly, and one service driver.

Brigadier Generals: One Toyota Camry or equivalent vehicle, $10,000 annually for medical treatment, one service driver, two residential guards, and one orderly.

For officers below the rank of Brigadier General, benefits are scaled accordingly. Colonels and their equivalents, for instance, are entitled to a Toyota Corolla or its equivalent and free medical care within Nigeria.

The HTACOS specifies generous allowances for medical trips abroad, with Lieutenant Generals receiving $20,000 annually for treatment, Major Generals $15,000, and Brigadier Generals $10,000.

Each officer embarking on a foreign medical trip is also entitled to $20,000 as estacode.

The document emphasizes that the practice of rewarding senior officers with substantial retirement benefits is not new, but the HTACOS reflects a revision to align with current socio-economic realities.

It states that Officers of One-Star rank (Brig. Gen.): One Toyota Camry or equivalent car of the same value; One service driver; two residential guards; One orderly and free medicals in Nigeria and abroad to the tune of $10,000 per annum.”

For Lieutenant Generals and equivalents, the package includes Two Toyota Hilux Vehicles or one Toyota Land Cruiser or equivalent jeep of the same value; two Cooks; two Stewards; four residential guards; one service orderly; two service drivers and free medicals in Nigeria and abroad to the tune of $20,000 per year.”

 

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