By DAYO ADESULU
Concerns Over Federal Character Principle and Targeting of Northern Employees
The Arewa Youth Assembly has urged the Central Bank of Nigeria (CBN) to uphold the Federal Character principle in its ongoing voluntary retirement initiative. The group described the exercise as “anti-North” and a potential threat to national unity, raising alarms over the perceived targeting of northern employees.
In a statement issued on Sunday in Kaduna, Mohammed Danlami, the group’s Speaker, criticized the CBN’s approach, alleging that employees were being coerced into voluntary retirement. He described the process as “grossly unethical” and cautioned against its potential socio-economic consequences.
Mass Layoffs and Economic Implications
The mass retirement exercise, involving approximately 1,000 employees and a budget of ₦50 billion for severance packages, recently came under scrutiny. The CBN had clarified in an earlier statement that the Early Exit Package was voluntary.
However, Danlami argued that large-scale layoffs in a fragile economy could worsen unemployment, exacerbate mental health issues, and fuel insecurity as affected individuals struggle financially.
“Layoffs of this magnitude heighten unemployment and deepen socio-economic instability,” Danlami noted.
Allegations of Systemic Marginalization and Call for Transparency
The group alleged historical marginalization of northern employees within the banking sector and demanded that the CBN publish a detailed breakdown of affected employees by state to ensure accountability and fairness.
Danlami emphasized the importance of the Federal Character principle in promoting equity, warning of strong resistance to any deviation.
“The Federal Character Commission exists to ensure fairness and unity. The CBN must act transparently and equitably,” he stated.
Recommendations for Mitigating Job Cuts
The Arewa Youth Assembly suggested alternative measures to layoffs, including retraining and reskilling employees for opportunities in emerging sectors.
“Rather than deepening unemployment, the CBN should focus on equipping workers with skills for growing industries. This would foster long-term economic growth and stability,” Danlami proposed.
The group also called on the CBN to consider the nation’s economic realities and the specific challenges faced by northern regions, warning that the exercise could exacerbate poverty and insecurity.
Affirmation of Oversight and Resistance Against Injustice
The Arewa Youth Assembly concluded by affirming its commitment to monitoring the CBN’s actions and standing firm against perceived injustices.
“We will remain vigilant and ensure that any actions undermining equity or fairness are addressed appropriately,” Danlami affirmed.
