Exit Offer Not Aimed at Northerners — CBN

 The Central Bank of Nigeria has clarified that its Early Exit Package (EEP), introduced in 2024, was a voluntary initiative aimed at easing congestion at its headquarters in Abuja, not a move to marginalize any region or group.

The bank’s Deputy Governor for Economic Policy, Muhammad Abdullahi, provided the clarification during a government-citizen engagement session held in Kaduna. He explained that the Abuja headquarters had become overcrowded to the point where emergency exits and other critical spaces were converted into offices, creating safety concerns.

According to him, insurance providers had raised red flags over the building’s capacity and safety, prompting the bank to consider measures to reduce the number of personnel based at the headquarters. “There are sufficient facilities in Lagos, Kaduna, and other locations to accommodate staff, and some who relocated are even happier with their new postings,” he noted.

Abdullahi stressed that the exit scheme was not new and had been implemented over the past two decades when management deemed the organizational structure top-heavy. “It is a completely voluntary process. Staff members are consulted, and offers are extended only to those who wish to take them,” he said.

He added that some staff members who accepted the package had gone on to establish their own businesses, including microfinance banks, using the opportunity as a fresh start.

Responding to claims that certain ethnic groups were being targeted, Abdullahi dismissed the allegations as false and divisive. “There are still several directors of northern origin working in the bank. Even the son of the Secretary to the Government of the Federation was transferred out of Abuja. The policy applied across the board,” he emphasized.

Abdullahi called for restraint and urged the public to ignore misinformation being spread by individuals seeking to stoke regional tension. “This is a professional decision aimed at improving the efficiency and safety of the institution,” he added.