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BREAKING: House of Reps stops planned retirement of 1000 CBN staff, begins investigation

The House of Representatives has launched an investigation into the planned retirement of 1,000 staff of the Central Bank of Nigeria (CBN)

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The resolution followed the adoption of a motion of urgent public importance by Rep. Kama Nkemkama (LP-Ebonyi) during plenary on Tuesday.

The motion is entitled, “Need to Investigate the Retirement of Over 1,000 Staff of the Central Bank of Nigeria (CBN) and the Associated N50 Billion Payoff Scheme.”

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It would be recalled that, a national media outlet announced on Dec. 2 that the CBN planned to retire over 1,000 members of staff across various levels.

The media report claimed that the retirement was part of restructuring process under the CBN Governor’s leadership with a N50 billion payoff scheme to compensate the affected staff.

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Presenting the motion, Nkemkama stated that the sudden mass retirement of over 1,000 staff, including directors and senior management, raises critical questions.

These, according to him, include the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labour laws.

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He said that such a significant decision has socio-economic implications for the affected individuals, their dependants, and the broader economy.

This, he said, would potentially lead to increased unemployment and public dissatisfaction.

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He expressed worry that the reported payoff scheme amounting to N50 billion might lack sufficient accountability and oversight mechanisms.

The lawmaker said that this would pose risks of mismanagement and abuse of public funds in a sector vital to Nigeria’s financial stability.

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Adopting the motion, the House therefore, constituted a high-level ad hoc committee to investigate the planned mass retirement of over 1,000 staff of the CBN

The House stated that this was to ascertain the criteria, process, and legality of the exercise.

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The House said that it would also examine the N50 billion payoff scheme to ensure transparency, accountability, and proper utilisation of funds.

The House also resolved to engage the leadership of the CBN to evaluate the potential economic and institutional impact of mass retirement on Nigeria’s financial sector.

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The House urged the CBN to suspend further implementation of the retirement exercise and associated payoff scheme pending the outcome of its committee’s investigation.

The House further called on the Federal Ministry of Labour and Employment to ensure that the rights of the affected staff were protected in accordance with Nigerian labour laws.

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The House requested the committee to report back to the house within four weeks for further legislative actions.(NAN)

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Two men docked for allegedly defiling underaged girl

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Two men docked for allegedly defiling underaged girl

The police in Lagos on Friday, charged two men before an Ikeja Chief Magistrates’ Court for allegedly defiling an 11- year-old girl.

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The defendants are: Prince Tomnyie, 40, a businessman, who resides at Agege, and Micheal Adenuga, 24, a furniture maker, who resides at Atere Street in Lekki.

They are standing trial on charges of defilement, and had each pleaded not guilty to the charges.

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The prosecutor, ASP Adegoke Ademigbuji told the court that they committed the offence sometimes in December 2024, and September 2025, at Langbasa Ajah and Igbara Lekki, Lagos .

The prosecutor alleged that the victim’s father, had taken his daughter for medical check and it was discovered that the minor had been defiled.

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The prosecution alleged that the victim had told her father that his friend, Tomnyie, defiled her sometimes ago.

Ademigbuji alleged that the victim also mentioned the second defendant’s name who lives in their neigbourhood.

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The offence contravenes the provisons of section 137 of the Criminal Law of Lagos, 2015.

The Chief Magistrate, Mr L. A Owolabi, granted the defendants bail in the sum of of N600,000 each, with two sureties each in like sum.

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He adjourned the case until March 5, for mention. (NAN)

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Report any officer asking for money for release of suspect as Police insist bail is free

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Report any officer asking for money for release of suspect as Police insist bail is free

The Police Command in the Federal Capital Territory (FCT) has insisted that bail is free, and called on the public to report any officer asking for money to release a suspect on bail.

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The Police Public Relations Officer in the FCT, SP Josephine Adeh, said this in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

Adeh spoke in reaction to public outcry that some police officers were demanding money to release suspects on bail in the territory.

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She said the report of the erring officers would serve as a deterrent to others, adding that it was fraudulent to demand for money to release a suspect on bail.

Adeh blamed the yielding to such fraudulent demand on ignorance on the part of the victims who refused to stand on their rights.

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“A similar case was reported where an officer demanded money to release a suspect on bail and when the matter was reported, we requested for evidence from the victim.

“The evidence was provided because the money was transferred to the officer’s account and actions are being taken on the issue.

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“So, I encourage the public to take advantage of the FCT Police Complaint Response Unit (CRU) lines on 08107314192 to report such misconduct with evidence,” she said.

Adeh urged the public to always insist on their rights and refuse any form of payment to release a suspect on bail.(NAN)

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Former President sentenced to five years in prison by Court

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Former President sentenced to five years in prison by Court

South Korea’s former president Yoon Suk Yeol was on Friday sentenced to five years in prison for obstruction of justice.

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The Seoul Central District Court found that the 65-year-old conservative, with the help of the presidential security service, had tried to prevent his own arrest and deleted multiple documents related to the investigation against him.

Yoon shocked the nation by imposing martial law on December 3, 2024, amid a budget dispute with the opposition, plunging the country into a political crisis.

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He justified the drastic measure as necessary to protect South Korea’s democratic order and accused the left-leaning opposition of being infiltrated by communists with ties to China and North Korea, though he provided no evidence for these claims.

In a separate trial, prosecutors have sought the death penalty for Yoon on charges of incitement, with a verdict expected on February 19.

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While the death penalty remains legally in force in South Korea, it has not been carried out for nearly 30 years.

Yoon’s actions previously alarmed international investors and led to withheld investments, damaging the reputation of South Korea as a political and economic model for the region.

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Since last summer, South Korea has been led by President Lee Jae Myung, a left-leaning centrist and long-time political rival of Yoon. (dpa/NAN)

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