Connect with us

NEWS

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

Published

on

 

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.

ALSO READ: SERAP Urges Tinubu To Unveil Defaulting Contractors Over N167bn MDAs’ Fraud

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.

3 Comments
0 0 votes
Article Rating
Subscribe
Notify of
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
bio ethanol burner steel

152768 509758This is the suitable blog for anybody who needs to seek out out about this topic. You notice so a lot its virtually laborious to argue with you (not that I actually would wantHaHa). You undoubtedly put a brand new spin on a topic thats been written about for years. Excellent stuff, just wonderful! 238637

dmwin
10 months ago

897796 739686You created some decent factors there. I looked on the internet for the dilemma and found most individuals will go along with together with your internet site. 75031

Team building
9 months ago

672316 300645hi!,I like your writing so a great deal! share we communicate far a lot more about your article on AOL? I require a specialist on this area to solve my difficulty. May be thats you! Searching forward to see you. 283069

NEWS

NUPRC Dangles 40 Oil Blocks Before Global Investors at ADIPEC

Published

on

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has invited global investors to participate in the bid for the 2026 Licensing Round, which has 40 oil and gas blocks on offer.

The Commission Chief Executive, Oritsemeyiwa Eyesan, informed investors at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, 2026 that Nigeria offers a stable climate amid global energy tensions.

She urged investors to look to Nigeria and take advantage of the opportunities and revealed that the licensing round portal will officially open on November 20, 2026.

READ ALSO: OPEC+ Retains Output at 30.9mbpd

The NUPRC boss said this during a roundtable discussion titled, ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’.

She said, “We are expecting investors to turn to Nigeria. We are going into another licensing round, and we will launch our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive.

“We have set a very attractive fiscal framework for investors. The overall environment is much more secure. We have been able to manage costs with a lot of incentives for investors, and we expect to see investors take up the offer when we open the portal.”

The NUPRC boss noted that since the passing of the Petroleum Industry Act in 2021, as well as the executive orders signed by President Bola Tinubu, Nigeria has seen an improved investment climate.

Eyesan said that between 2021 and 2026, the NUPRC held at least four successful licensing rounds, which brought more investment into the country.

This marks a departure from the pre-PIA era, when licensing rounds were less frequent.

The CCE said Nigeria has huge energy potential, as it sits on 215 TCF of gas, but daily production is barely 7 bcf.

This presents an opportunity to investors, especially as key gas infrastructure, such as pipelines, is being built, she said. The stars are already aligned. For gas infrastructure, we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region.”

We have two major projects on the drawing board to move gas through the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline.

Again, this gas will go to Europe and will also meet regional demand. So, Nigeria is positioned to meet not just domestic supply,” the CCE stated.

Eyesan maintained that as many countries discover petroleum resources, the race for investment has become more competitive.

She said Nigeria was already ahead of the game, as it had made certain modifications to attract the right capital.

“We understand that investors will prize execution risk, cost, delays and also uncertainty, and so what we have done in Nigeria is to ensure that we guard against these risks and then attract the investment required to enable us to unlock the huge resources we sit on,” the NUPRC boss said.

Continue Reading

NEWS

‘Becoming Nigeria’s President Is a Divine Blessing’ – Tinubu

Published

on

President Bola Ahmed Tinubu has described his emergence as Nigeria’s President as a special favour from Almighty Allah, saying his position as Commander-in-Chief of the Armed Forces is a privilege that must be matched with dedicated service to the country.

Tinubu made the remarks while reflecting on his spiritual journey to Saudi Arabia for the lesser Hajj (Umrah), during which he was granted access to pray inside the Holy Ka’abah in Makkah.

The President expressed gratitude to Saudi Arabia’s King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman for granting him and members of his Nigerian delegation the rare privilege.

SEE MORE: APC Defends Tinubu Over Electricity Promise, Says President Is Tackling Sector’s Challenges

Speaking after the spiritual exercise, Tinubu said his emergence as Nigeria’s leader was an extraordinary blessing, considering the millions of people in the country.

“I have faith in that, and I believe extremely well that He has done me and my country a great favour. Out of many millions of people, to be the President and Commander-in-Chief is a favour that only Almighty God can do to a human being,” he said.

The President also disclosed that he used the opportunity to pray for wisdom and resilience to continue serving Nigerians, expressing confidence that his prayers had been answered.

“Well, I asked for wisdom and resilience to continue to serve the people. I know that prayer has been granted,” Tinubu said.

Recalling his previous Umrah pilgrimage before the 2023 presidential election, he said he had asked Allah to bless the journey and promised to return to express gratitude.

Tinubu also reflected on the message in Surah Aal-Imran, Verse 26 of the Holy Qur’an, which establishes Allah as the ultimate owner of sovereignty and authority, with the power to give and take leadership.

He said the message reinforces the need for those entrusted with positions of authority to exercise power responsibly, with humility and in the interest of the people.

“There is no other God but Almighty Allah. He is the giver and the taker. He owns power and authority,” the President said.

He reaffirmed his commitment to building a prosperous Nigeria, investing in the future of young Nigerians and pursuing development in line with the aspirations of the people.

Tinubu described the opportunity to enter the Holy Ka’abah as a historic and deeply cherished spiritual experience, adding that it reflected the longstanding friendship and cooperation between Nigeria and Saudi Arabia.

Continue Reading

NEWS

Ogun Police Win Public Safety Award as Ojajuni Emerges NUJ Golden Jubilee Ambassador

Published

on

The Ogun State Police Command has received three major honours at the Nigeria Union of Journalists (NUJ), Ogun State Council’s Golden Jubilee Press Week, with Commissioner of Police Bode Ojajuni named a Golden Jubilee Ambassador.

The Command received the Shield of Public Safety Award, while its Police Public Relations Officer, DSP Oluseyi Babaseyi, was presented with the Vanguard of Public Safety Award.

The recognition formed part of activities marking the 50th anniversary of the NUJ in Ogun State, which coincides with the state’s 50th anniversary.

SEE ALSO: Oyo Police Arrest Suspected Serial Burglar, Recover Stolen Items Worth ₦16.2m

According to a statement released on Monday, November 2, 2026, by the Command’s spokesperson, DSP Babaseyi, the awards recognised the Command’s commitment to public safety, proactive policing and effective engagement with the media.

The Golden Jubilee Press Week, held from October 26 to November 1, 2026, was themed, “Truth, Trust and the Press: Protecting Democratic Choice and Rebuilding Public Confidence in Journalism.”

Ojajuni also participated in a panel session during the celebration, where he urged journalists to uphold truth, professional ethics and patriotism, stressing the importance of responsible journalism to national development and public confidence in public institutions.

While receiving the Shield of Public Safety Award, the police commissioner attributed the Command’s achievements, particularly the impact of Operation KOSAYE, to the strategic direction of the Inspector-General of Police, IGP Olatunji Rilwan Disu, under the Handshake Patrol initiative.

He explained that the operation was carried out on the directive of the IGP through collaboration between the Ogun and Lagos State Police Commands, with support from the governors of both states.

According to him, the initiative strengthened security cooperation between the two states and improved coordinated efforts to prevent and combat criminal activities.

Ojajuni was also named among 50 distinguished personalities recognised as Golden Jubilee Ambassadors.

The honour reflects his leadership and previous contributions to policing in Ogun State, where he served as Deputy Commissioner of Police in charge of the State Criminal Investigation Department and Squadron Commander of the 16 Police Mobile Force, Abeokuta, before becoming commissioner.

Similarly, Babaseyi received the Vanguard of Public Safety Award in recognition of his contributions to police-public communication, media engagement and public safety advocacy.

The commissioner dedicated the honours to the Inspector-General of Police and officers of the Nigeria Police Force, acknowledging their commitment and sacrifices in protecting lives and property.

The Command also commended the NUJ Ogun State Council, led by its chairman, Comrade Wale Olanrewaju, for the recognition and its role in promoting constructive engagement between journalists and security institutions.

It reaffirmed its commitment to strengthening its relationship with the media, noting that effective policing depends not only on operational deployment but also on public trust, timely information and stakeholder engagement.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

3
0
Would love your thoughts, please comment.x
()
x