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Mass Purge: Reps Demand Explanation from CBN on 1,000 Staff Dismissals
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…N50 Billion Severance Payment
Fortress
Speaker of the House of Representatives, Hon. Tajudeen Abbas, PhD, has requested the Central Bank of Nigeria (CBN) to provide explanations for the recent dismissal of approximately 1,000 members of staff and the subsequent payment of a N50 billion severance package.
Speaker Abbas made the demands while declaring open an investigative hearing of the ad-hoc committee of the House, investigating the CBN’s termination/dismissal of members of staff on Thursday in Abuja.
He charged the ad hoc committee chaired by the Chief Whip of the House, Hon. Usman Bello Kumo to properly investigate the rationale behind the decision, particularly in light of the current economic challenges facing the country.
Represented at the event by the Deputy Speaker, Rt. Hon. Benjamin Okezie Kalu, Speaker Abbas emphasized the need for transparency in the matter, ensuring that the welfare and rights of the affected employees are protected.
Acknowledging the imperative of running a learner, more efficient government, and the inherent powers of the apex bank to determine its policies, Speaker Abbas however said there is a need to strike a balance against the welfare of the employees.
He also charged the committee to examine the process by which the N50 billion severance package was determined, ensuring that principles of due diligence, fairness, and due process were adhered to.
He said: “The committee has been tasked with examining several critical aspects of this issue. First, we aim to understand the rationale behind the decision to lay off over 1,000 staff members, particularly during these challenging economic times. The impact of such a significant workforce reduction on individuals, their families, and the broader economy cannot be overlooked.
“Furthermore, the committee will scrutinize the process through which the 50 billion Naira severance package was determined. We must ascertain whether the principles of due diligence, fairness, and due process were strictly adhered to in arriving at this figure.
“Transparency in such matters is key to maintaining public trust and ensuring the integrity of our institutions.
“As a legislative body, we recognise the widely accepted principle of running a leaner and more efficient government. We also understand the CBN’s prerogative in determining policies that align with its operational efficiency. However, such decisions must be balanced against the welfare and rights of employees, as well as the long-term implications for institutional stability.
“The House of Representatives cannot and will not remain silent when Nigerians feel aggrieved or when there are allegations of coercion or injustice against those who have been lawfully employed. We must provide a platform for all affected parties to be heard and to ensure that their concerns are addressed fairly and justly”.
Speaker Abas urged the CBN and other affected agencies of government to cooperate fully with the investigation, emphasizing the importance of restoring public trust and confidence in government institutions.
“Your cooperation is vital as we seek to uncover the facts, provide clarity to Nigerians, and ultimately restore confidence in the integrity of government institutions.
“As we proceed with this investigative hearing, let us remain steadfast in our commitment to justice, accountability, and the greater good of our nation. I hope that at the end of this hearing, all controversies will be cleared, and we can be assured that the CBN’s actions align with the principles of fairness, equity, and the rule of law”, the Speaker said.
News
Reps Summon Emergency Session to Consider Fresh Extension of 2025 Capital Budget
By Gloria Ikibah
Members of the House of Representatives have been summoned to an emergency sitting scheduled for Monday, June 15, as lawmakers move to consider a further extension of the implementation period for the capital component of the 2025 budget.
The notice, issued by the Acting Clerk of the House of Representatives, Ibrahim Sidi, informed lawmakers that the emergency session would commence at 11:00 a.m. in line with the provisions of the House Standing Orders.
“I am directed to inform all Honourable Members of the House of Representatives that an Emergency Sitting of the House will be held on Monday, 15th June 2026 at 11:00 AM pursuant to Order Five, Rule 2(2) of the Standing Orders of the House of Representatives.
“The purpose of the Emergency Sitting is to consider the Appropriation (REPEAL and Enactment) Act, 2025 (Amendment) (No. 2) Bill, 2026 to further extend the implementation of the Capital aspect of the Budget from 30th June to 30th September 2026”, he said.
If approved, the extension will provide Ministries, Departments and Agencies with an additional three months to complete and fund capital projects captured in the 2025 fiscal framework.
The notice also urged lawmakers to accord the session the highest level of importance given the significance of the legislation before the House.
“All Honourable Members are required to take note and accord the Sitting priority attendance, please”, it added.
The emergency sitting comes as the National Assembly continues efforts to ensure the effective execution of capital projects and prevent disruptions to ongoing government programmes across the country.
News
Tinubu Hails SEDC Boss Mark Okoye at 40, Praises Public Service Record
By Gloria Ikibah
President Bola Tinubu has congratulated the Managing Director and Chief Executive Officer of the South-East Development Commission (SEDC), Mark Okoye, on the occasion of his 40th birthday, commending his contributions to public service and leadership in national development.
In a statement issued by the Special Adviser to the President (Information & Strategy),Bayo Onanuga, on Sunday, the President celebrated Okoye’s milestone birthday and acknowledged what he described as an impressive record of service spanning more than a decade.
Before assuming leadership of the South-East Development Commission, Okoye held several strategic positions in Anambra State, including Managing Director and Chief Executive of the Anambra State Investment Promotion and Protection Agency. He also served as Special Adviser to the Governor before later becoming Commissioner for Economic Planning, Budget and Development Partners.
The President used the occasion to recognise Okoye’s achievements in public office and his commitment to advancing development initiatives.
The statement read: “President Tinubu acknowledges Okoye’s dedication, resilience, and passion for service, and encourages him not to relent in his efforts to manage the South-East Development Commission and deliver on its mandate.”
The statement noted that the President views young leaders as critical to Nigeria’s future and expressed confidence in the capacity of the country’s emerging generation of public servants.
Tinubu also praised Okoye’s professional conduct throughout his years in government service.
“As a youth-centric leader, the President states that, with Okoye and many other innovative young people in his administration, the nation’s future remains promising.
“The President celebrates Okoye on this milestone and commends his 14-year unblemished record in public service.”
The President joined family members, friends and associates in celebrating the SEDC chief executive, offering prayers for his continued wellbeing and success.
“President Tinubu joins family, friends, and well-wishers in wishing Okoye a happy 40th birthday, good health, and renewed strength as he continues his service to the nation”, he added.
News
Deputy Speaker Pushes for Home-Grown Defence Industry, Stronger Financial Crackdown on Insecurity
By Gloria Ikibah
Deputy Speaker of the House of Representatives, Rt. Hon.mBenjamin Kalu, has called for a major shift in Nigeria’s security strategy, urging increased local production of military equipment and stronger financial controls to disrupt criminal and terrorist networks.
Speaking at the Nigeria People’s Strategic Conference and Defence Exhibition 2026 in Abuja on Saturday, Kalu said the country must reduce its dependence on imported weapons and invest more heavily in building a self-reliant defence manufacturing sector capable of supporting national security needs.
The conference, which focused on integrating private sector capacity into Nigeria’s security architecture, brought together stakeholders from government, business and the security community to discuss solutions to the country’s evolving security challenges.
He argued that expanding domestic arms production would not only strengthen national defence capabilities but also create jobs, stimulate industrial growth and reduce vulnerabilities associated with reliance on foreign suppliers.
The Deputy Speaker also highlighted the critical role of the financial sector in the fight against insecurity, calling on banks and other financial institutions to intensify due diligence measures and strengthen transaction monitoring systems to identify and block illicit financial flows that sustain criminal groups and terrorist organisations.
He emphasised that addressing insecurity requires coordinated action across multiple sectors and urged participants to move beyond discussions towards concrete commitments and measurable outcomes.
According to him, technology companies have a vital role to play by developing platforms that enhance intelligence gathering, information sharing and early warning systems. He also underscored the importance of civil society organisations in strengthening trust between communities and government institutions, particularly in areas affected by insecurity.
Kalu further assured stakeholders that the National Assembly will continue to support security reforms through legislative action, constitutional review processes, budgetary allocations and robust oversight of security-related programmes.
The Deputy Speaker maintained that despite the security challenges facing the country, Nigeria remains resilient and capable of overcoming its difficulties through stronger institutions, innovation and greater collaboration among public and private sector actors.
He said: “Every sector represented in this room must leave with a specific, measurable role in Nigeria’s security architecture. The defence industry must deepen local capacity so that we do not import what we can produce. The technology sector must offer platforms for intelligence sharing and community early warning. The financial sector must tighten the chokepoints through which criminal and terrorist financing flows. The civil society must continue to build the bridges between communities and government that make sustainable peace possible.
“And the legislature, we will continue to provide the legal scaffolding on which all of this is built. We will continue to review the constitution where it needs reviewing. We will appropriate resources where resources are needed. We will provide oversight to ensure that what is promised is delivered. We will legislate not for public applause but for the protection of lives and the dignity of every Nigerian.”
Kalu noted that the House recently voted 289 to 2 in favour of a safer Nigeria through the State Police constitutional amendment, describing the near-unanimity as patriotic rather than partisan.
“I am proud to serve in an assembly that just two days ago voted 289 to 2 in favour of a safer Nigeria. That near-unanimity was not partisan. It was patriotic. And it must be matched by an equal unity of purpose in this room today.
“There is a Nigeria on the other side of this season. That Nigeria is not a promise. It is a project. A project that belongs to all of us; both the legislature and the executive, the uniform and the suit, the community and the corporation, the government and the governed.
“We are a people worth fighting for. This republic is worth building. And let this moment be the moment we decide, formally and finally, to build it together”, he said.
The Deputy Speaker also dismissed the feelings in some quarters that Nigeria was failing.
“Nigeria is not failing. Nigeria is fighting. There is a difference. A failing country stops trying. Nigeria has never stopped trying. That is our heritage. That is our irreducible character. But resilience must be met by structure. Courage must be met by policy. The sacrifice of the Nigerian people deserves a security ecosystem worthy of the sacrifice”, he said.
The event drew participants from the defence industry, financial institutions, civil society, and security agencies.
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