The Conference of Autochthonous Ethnic Communities Development Association (CONECDA) has called on Central Bank of Nigeria (CBN) Governor Yemi Cardoso to follow established procedures for staff reductions, as outlined in the bank’s HR manual and global best practices.

Recently, over 200 CBN staff were affected by downsizing aimed at aligning the bank’s structure with its objectives and ensuring a balanced distribution of skills. Comrade Paul Dekete, North Central Coordinator of CONECDA Youth Wing, criticized the layoffs for bypassing due process and lacking transparency.

He emphasized that CBN, as a federal institution, must adhere to public service rules and obtain board approval for such actions.

Dekete also highlighted the severe financial impact on the dismissed staff, many of whom had loans tied to their salaries, now left with nothing or in debt.

He urged the National Assembly to investigate the rationale behind the layoffs and the criteria used. Dekete demanded fair compensation for the affected staff and a review of the termination decisions, suggesting some employees may need to be reinstated if their dismissal lacked proper justification.