The Central Bank of Nigeria (CBN) has said it is planning to retire around 1,000 employees as part of strategic workforce realignment.

According to an insider, the retirement initiative is driven by the need to streamline operations and reduce staff numbers under the leadership of the apex bank’s Governor, Olayemi Cardoso.

At least 860 staff from various departments have already applied for the Early Exit Package (EPP).

The management described the EEP as a voluntary programme offering eligible employees an incentive to exit the CBN early, while providing employees seeking other career options a great opportunity for early exit.

Financial incentives for senior supervisors to deputy managers will be for the remaining period in service, up to a maximum of 60 months of the current grade’s gross annual emoluments.

Staff members have expressed serious tension and apprehension about the decision to send about 1,000 staff on early retirement.