NEWS
No Forced Retirements – CBN Clarifies Early Exit Package For Employees
The Central Bank of Nigeria (CBN) has clarified that its Early Exit Package (EEP) is entirely voluntary, dispelling rumours of forced mass retirements.
The apex bank assured that the initiative, which was introduced following extensive consultations, has no negative impact on eligible staff who choose not to participate.
In a statement released on Wednesday, in Abuja, Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, explained that the decision to roll out the EEP across all staff levels was the result of dialogue with the Bank’s Joint Consultative Council (JCC), the body representing employee interests.
READ MORE: Reps To Probe CBN’s Planned Retirement Of 1,000 Staff, N50bn Payoff
“For some time, staff representatives through the JCC had called on management to approve the early exit package for all cadres. Following these discussions, management decided to meet this popular demand,” Mrs. Sidi Ali said.
She further addressed concerns over potential repercussions for employees who decline the offer, emphasizing that these worries are unfounded.
“Management is committed to supporting employees’ professional growth and well-being,” she stated. “This initiative is an internal corporate matter designed to promote career development for staff.”
The clarification from the CBN comes amid growing questions surrounding the implementation of the Early Exit Package, which was previously available only to the executive cadre.
International News
Growing Internal Dissent Moves Canada PM Towards Resignation
Canadian Prime Minister, Justin Trudeau is expected to resign this week as internal dissatisfaction within his Liberal Party reaches a breaking point, according to a report by The Globe and Mail on Sunday.
Citing three anonymous sources with knowledge of party deliberations, the report stated that Trudeau’s resignation could be announced as early as Monday.
The timing would allow for his departure to be addressed at a national Liberal Party caucus meeting scheduled for Wednesday.
READ MORE: Tinubu Attends Mahama’s Inauguration
“The announcement would likely come before a national Liberal Party caucus on Wednesday,” The Globe and Mail reported, quoting party insiders.
It remains uncertain whether Trudeau would continue in an interim role while the Liberals search for new leadership.
Trudeau’s leadership has faced mounting criticism in recent months. His government barely survived a series of no-confidence votes, and his approval ratings have plummeted as he trails Conservative leader Pierre Poilievre by 20 points in opinion polls.
While Trudeau has vowed to lead the Liberals into the next federal election, slated for October 2025, his position has grown increasingly untenable.
The strain has been compounded by U.S. President-elect Donald Trump’s proposed 25% tariff on Canadian goods, a move that threatens to escalate into a full-blown trade war.
Deputy Prime Minister Chrystia Freeland resigned in December after reportedly clashing with Trudeau over how to handle Trump’s tariff plans, marking the first significant cabinet fracture.
Later that month, Trudeau reshuffled one-third of his cabinet in an attempt to regain control, but internal unrest persisted.
In November, Trudeau traveled to Florida to meet with Trump at his Mar-a-Lago estate, seeking to defuse trade tensions.
However, the meeting did little to alleviate the strain. Trump continued to target Trudeau publicly, mocking him on social media as the “governor” of Canada and suggesting that Canada should become the 51st U.S. state, calling it a “great idea.”
Trudeau rose to prominence in 2015, sweeping the Liberals to power with a charismatic image and progressive platform.
Over his three terms, he championed Senate reforms, legalized cannabis, introduced a carbon tax, and passed legislation permitting medically assisted suicide.
However, critics argue that Trudeau’s once-strong leadership has been overshadowed by his inability to navigate recent crises, including trade disputes and political dissent.
If Trudeau steps down, it would mark a dramatic shift in Canadian politics and leave the Liberals facing a critical leadership race in the run-up to the 2025 election.
NEWS
Tinubu Attends Mahama’s Inauguration
Nigeria’s President, Bola Ahmed Tinubu would be gracing the inauguration ceremonies of his Ghanaian counterpart, John Dramani Mahama billed for Accra on January 7, 2025.
The Special Adviser to the President (Information & Strategy), Bayo Onanuga, disclosed that his boss would be making the journey on Monday January 6, 2025 at the invitation of the incoming Ghanaian president.
Onanuga wrote, “President Bola Ahmed Tinubu will depart Lagos on Monday, January 6, for Accra, the capital of the Republic of Ghana, to attend the inauguration of President-elect John Dramani Mahama on January 7.
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“Mahama, who served as the 12th president of Ghana between 2011 and 2017, was reelected in December 2024. He will succeed President Nana Akuffo-Addo (2017-2025).
“President Tinubu’s trip to Accra is at the invitation of the president-elect, who had visited the Nigerian leader earlier in December.
“Mahama and President Tinubu have a longstanding personal relationship, just like Nigeria and Ghana maintain a longstanding bilateral relationship.
“President Tinubu, as Chairman of the ECOWAS Authority of Heads of State and Government, will join other African leaders at the ceremony.
“Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu and other senior government officials will accompany President Tinubu on the trip.”
NEWS
Three-Storey Building Collapse In Rivers, Seven Injured
A three-story building under construction collapsed on Saturday, January 4, in Ikwerre Local Government Area of Rivers State, leaving seven people injured.
According to the Commissioner for Physical Planning and Urban Development, Mr. Evans Bipi, no lives were lost due to swift rescue efforts.
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In a statement released on Sunday by his Special Adviser on Media and Publicity, Mr. Emeka Idika, Bipi described the incident as tragic but noted that timely intervention by his ministry, the Special Duties Department, and other agencies helped save lives.
“It is unfortunate that we are beginning the year with this tragic incident. Though no life was lost, this is the fourth building collapse we are witnessing in the state since I assumed office,” the Commissioner said.
Preliminary findings at the site indicate that the collapse was caused by the use of substandard materials, including 12mm rods for decking—a direct violation of construction standards.
“Specifically, the use of 12mm rods for decking a building is a clear violation of construction standards. Unfortunately, this is not an isolated incident, as similar cases in the state have been linked to the same cause,” Bipi explained.
The affected property has been sealed, pending further investigations into the cause of the collapse.
Bipi stressed the importance of adhering to building regulations to avoid similar tragedies in the future.
“The property has been sealed pending investigation into the cause of collapse,” he stated.
The Commissioner urged developers to comply with established standards to ensure public safety and prevent further loss of property and potential lives.