After reading a number of stories on the Early Exit Package (EEP) of the Central Bank of Nigeria (CBN), which many termed mass retirement, so many thoughts raced through my mind, one of which was to just let it slide since I neither speak nor work for the Central Bank of Nigeria (CBN). But then, I owe a duty to my conscience to put some of the issues contained in the story in some more elaborate, even if different perspectives.
For starters, we need to appreciate the fact that, due to technological disruptions and the dynamic nature of human beings, the way we used to consume news is going through tremendous changes. Media houses are taking note of this reality. So the news is no longer out just to inform. It is now treated like a commodity that must be attractive to the consumer (reader), who is facing a deluge of information, all competing for his attention.
And based on evidence that stakeholders in the news industry have at their disposal, news about jobs and employment opportunities is among those that generate the most interest among readers. This is so because we all want better and more rewarding jobs in the pursuit of our respective careers.
I believe it is in this light that we must view the published story under discussion. When for instance, the Daily Trust story said the CBN will soon retire about 1,000 of its employees before the end of the year, many readers will be interested in knowing what becomes of the vacancies to be created by this development. Never mind the fact that the story did not mention the staff strength of the apex bank, which would have helped in giving us an idea as to whether the CBN is overstaffed, understaffed, or even dealing with issues of redundancy.
For others, it may be the amount to be paid to the affected staff that will be of interest to them. Of course N50bn does not sound like a small amount, until you realise that it is going to be shared among 1,000 people, roughly translating into N50m each, ceteris paribus.
Sadly, in what could be akin to sympathizing with the culprit, rather than the victim, many are unfairly attacking the current CBN Governor Olayemi Cardoso, when it was his predecessor Godwin Emefiele that bastardised the system.
In the nine years he served as the helmsman of the apex bank, Emefiele employed many staff that the CBN didn’t need. Indeed, Emefiele was said to have embarked on an elite-centric, questionable recruitments to ingratiate himself with influential people around the last administration. Emefiele abandoned due process and merit in his recruitment ‘windfall’. All one needed to be employed by the CBN at the time as Daily Nigerian publisher noted in an article when Emefiele was given a second term, was a familiar surname. It was even alleged that Emefiele abandoned the results of medical screening and recruited some sons of political office holders despite testing positive to illicit substance use.
It just happened that someone had to deal with the mess left behind by Emefiele. And that responsibility fell on the laps of Cardoso who, since coming to office, made his intention clear. He knew it was not going to be a walk in the park. Thankfully, it is being done with a human face. Staffers are given the chance to apply voluntarily for Early Exit Package (EPP) before Saturday, December 7.
As noted in the story, in addition to the financial incentives, the EEP gives room for “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.”
Finally, we must understand that we cannot continue to demand for reduction in the cost of governance without tackling issues of redundancy and unmerited recruitment, not just in the CBN but in all other agencies, especially those considered highly paying. There is no need to keep people in a space where their services are not needed, at the expense of taxpayers’ money. All businesses, including media organisations, are today engaged in right-sizing processes to make them fit and profitable.
People should not beleive the baseless rumours being spread by mischief makers that the vacancies to be created by this exercise will be filled with South-Westerners. It is just a failed attempt blackmail the CBN governor and frustrate him out of righting the wrongs of the past. Same people once alleged plot to relocate the CBN to Lagos, but it turned out to be untrue.
Those introducing ethnic, tribal or regional agenda to government actions do not mean well for the country. We must not give them the air they need to continue breathing.
- Nasir writes from Abuja
