Cardoso in the eye of storm over high handedness in CBN as disengaged staff draw battle line

Disengaged staffers of Central Bank of Nigeria have teamed up to battle the management of the bank over what they call Cardoso highness, unfair treatment, marginalization and discrimination. This is one of the fall out of the ongoing staff rationalization exercise in the Central Bank of Nigeria where over two hundred staff, including executives, forcefully disengaged are now crying foul against the discriminatory manner in which the Cardoso led management is going about the exercise. The affected staff berated the CBN management for not coming up with the optional ‘early exit’ window for all staff to embrace as was later adopted but rather chose to humiliate them unjustly in flagrant disregard of the Bank’s human resources policy. They described the early exit programme as a welcome after thought, although it was viciously implemented without considering the negative impact on the system. They further asserted that the CBN, no doubt, must have lost most of its best hands in the areas of monetary policy, research, banking examination, communication, payment system development and strategy among others.
The concerned staff advised those responsible for the central bank’s oversight to be watchful of the policies of the Bank as either forceful disengagement or early retirement of experienced staff portends serious gaps for such a strategic institution. The staff also questioned the claim by Muhammad Bala Bello, the Deputy Governor (Corporate Services) that the disengaged staff were retired and paid their full benefits, noting that some of them went home with negative account balances. They contended that their careers were abruptly terminated without justification or compliance with due process for the conduct of a restructuring / redundancy process as enshrined in the Central Bank of Nigeria Act and CBN Human Resources manual. Some of the affected staff who spoke to journalists averred that the CBN management towed the line of discrimination from the beginning which has greatly impinged on their fundamental human rights, self esteem and caused untold hardship to their families and other dependants in addition to truncating their professional careers.
They called on the CBN Management revisit their cases with good conscience and equity without further delay in order to be on the good side of history. It will be recalled that the CBN is currently contending with scores of litigation at the National Industrial Court arising from decision of the Cardoso led management to disengage several staff abruptly between March and June 2024. Those staff felt maltreated in the exercise have since approached the courts for redress.