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

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.
NEWS
Task Force Operatives Storm Kidnappers’ Hideouts In Edo Central

As part of efforts to curb kidnapping in Edo State, the State Government, security operatives stormed a major hideout used by kidnapper in Esan North-East Local Government Area, Edo Central Senatorial District.
The action was led by the Task Force against Kidnapping, according to a government house statement in Benin City transpired on Friday.
It was gathered that the Task Force during the operation cleared abandoned structures and thick bushes along the Uzea-Itakpe railway corridor in used by kidnappers.
It added that the exercise was aimed at eliminating criminal hideouts, with a view to improving visibility for enhanced security surveillance.
ALSO READ: Woman Jumps Into Lagos Lagoon, Recovered Dead
The Special Adviser to the Governor on Security, Akhere Paul described the area as a notorious transit point for kidnappers operating along the railway axis, Esan forests, and parts of Etsako West.
He explained that criminals used the abandoned structures as temporary holding camps for their victims before relocating them.
“If they kidnap people here, they bring them to this hideout, rest, and then move them to other locations, including Itakpe in Kogi State and Ama Community in Etsako West. This area has been a hotspot for kidnappings, affecting both the wealthy and poor, including farmers who use this route. As a government, we will not rest until kidnapping is eradicated in Edo State,” he stated.
The Commander of the Task Force, SP Michael Anetor, emphasized that intelligence reports and recent arrests informed the demolition exercise.
“The DPO covering this area and the local government authorities have investigated, and our findings confirm that this location is a strategic point for kidnappers. They ambush victims, and if moving them immediately is not feasible, they hold them here before proceeding. These abandoned houses and dense trees serve as their operational base,” Anetor explained.
He further assured residents that security agencies would sustain their crackdown on criminal elements to restore safety in the area.
Citing some residents who preferred to remain anonymous, the statement added that the abandoned structures and overgrown vegetation had long served as hideouts for criminals, allowing them to monitor potential victims before launching attacks.
NEWS
Woman Jumps Into Lagos Lagoon, Recovered Dead

Tragedy struck on Thursday as an unidentified woman plunged into the Lagos Lagoon from the Third Mainland Bridge near the University of Lagos (UNILAG) waterfront.
Despite prompt efforts by marine police officers stationed nearby, she was recovered lifeless.
Eyewitnesses said the incident occurred around 4 p.m., prompting an immediate response from the marine police unit.
READ ALSO: Dismissed Edo Policewoman Threatens Suicide With Children
However, despite their swift intervention, the woman was confirmed dead by UNILAG medical personnel upon arrival.
Confirming the incident, Lagos State Police Command spokesman Benjamin Hundeyin provided details of the recovery operation.
“Today, March 13, 2025, at about 1600 hours, an unidentified woman reportedly jumped from the Third Mainland Bridge into the water near the UNILAG waterfront at approximately 1500 hours.
“She was recovered at the University of Lagos shore slipway by a team of marine police officers stationed in the area. Despite their efforts, she was confirmed dead by a team of UNILAG medical doctors in the presence of officers from the Sabo Police Division.”
He further disclosed that the body had been moved to the Infectious Disease Hospital (IDH) Mortuary in Yaba for preservation.
Although the motive behind the incident remains unclear, some witnesses suspected suicide. The authorities have yet to establish any conclusive reasons for the tragic act.
NEWS
Economic Reforms Aim To Protect Nigeria’s Future – Tinubu

Nigeria’s President, Bola Ahmed Tinubu has articulated the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.
This view was shared in a statehouse statement on Thursday, in Abuja by the Special Adviser to the President, (Information & Strategy), Bayo Onanuga.
He declared thus, “For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future.”
ALSO READ: ADF Flags Off N16Bn 2025 National Food Intervention Programme
President Tinubu was receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West, when he bared his mind.
He highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties:
“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,” he added.
President Tinubu made it clear that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.
“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
He said firm adherence to democratic tenets is the best route to economic, social, and political development.
“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.
“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”
Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organisations were offering Nigerians.
“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.
“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” he said.
Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.