Planned mass sack, layoffs, targeted at northerners, protest inevitable – Arewa Youth Assembly warns CBN Govenor

A popular northern group, Arewa Youth Assembly has threatened to protest against the planned mass sack of the Central Bank of Nigeria, CBN workers by the Governor of the apex Bank, Mr Olayemi Cardoso, saying he has agenda of cleansing northerners from the banking system, and that the exercise lacked an iota of sincerity.

In a statement on Sunday by the Speaker of the Youth Assembly, Mohammed Salihu Danlami, pointed out that workers of the northern extraction have within the time Cardoso assumed office as the Governor of CBN continue to face systemic marginalization and discrimination, a development, he said, would not be acceptable.

The statement read: “In recent weeks, the Central Bank of Nigeria (CBN) announced sweeping plans for workforce reduction, with reports indicating that more than 1,000 employees have either resigned voluntarily or will be laid off. Arewa Youth Assembly vehemently rejects this course of action, deeming it a profound injustice against the Nigerian people, particularly those from the Northern region.

“At a time when our nation is grappling with severe economic challenges, the decision to let go of workers not only exacerbates the existing hardships but also reveals a disturbing disregard for the welfare of the citizens.

“Firstly, the context in which these layoffs are proposed must be considered. Nigeria has been facing significant economic distress, a situation exacerbated by various factors, including the aftermath of the COVID-19 pandemic, fluctuating oil prices, and ongoing security challenges. This backdrop makes the timing of the CBN’s decision not only imprudent but also what we might chose to call “satanic”.

“It is unfathomable that an institution that is supposed to safeguard the financial health of the nation would engage in mass layoffs, thereby further destabilising the economy and increasing poverty levels.

“The impact of unemployment extends beyond mere numbers; it has profound psychological and social implications. Layoffs can lead to increased rates of mental health issues and can exacerbate criminal activities as individuals struggle to provide for their families. With poverty directly linked to a host of societal vices—including crime, domestic violence, and child neglect—CBN’s actions could indirectly lead to heightened insecurity in Nigeria. Therefore, it is not merely an economic issue but one of moral and civic responsibility.

“Furthermore, the assertions made by CBN regarding the voluntary nature of these resignations raise serious ethical questions. To claim that over 1,000 employees voluntarily chose to leave their jobs in such a precarious economic climate is an untenable position.

“The language used in the official statements drips with insidious undertones, implying that employees were subjected to pressure and intimidation to make these resignations appear voluntary. Such an approach is not only grossly unethical but sets a dangerous precedent where employees are coerced into making decisions that affect their livelihoods and futures.

“This alleged coercion, we believe particularly targets staff from the Northern region, which has historically faced systemic marginalisation and discrimination. The Arewa Youth Alliance believes that this constitutes a deliberate strategy to infiltrate vacancies with individuals from regions already favoured in Nigeria’s socio-political arena.

“We call upon the CBN to demonstrate transparency by publishing the list of affected employees, broken down by state. This demand is rooted not in mere curiosity but in a need to hold the institution accountable to the public. Should it be the case that these layoffs are indeed targeted, it would contradict the principles of fairness and equity that ought to govern employment practices in Nigeria.

“Moreover, we insist that these layoffs, akin to recruitment processes, must comply with the Federal Character Principles intended to ensure equitable representation across geographical lines. The Federal Character Commission of Nigeria is designed to promote unity and fairness in the country, and any departure from this will be met with vehement resistance from us.

“The implications of the CBN’s decisions extend beyond economic concerns. There exists a growing sentiment that the ongoing systemic disenfranchisement of the Northern regions is orchestrated to keep power and resources concentrated in the hands of a few. This sense of alienation breeds discontent, and we must not overlook the potential for increased societal divides and political unrest if these grievances are left unaddressed. Many Northern youths, faced with bleak employment prospects and reduced opportunities, could shift their loyalties towards extremist ideologies which exploit these vacuums of dissatisfaction and idleness.

“Instead of stringent measures that deepen economic despair, CBN should consider alternatives aimed at supporting employees and the economy at large. A comprehensive strategy focusing on retraining and reskilling workers for new opportunities in emerging sectors could alleviate the immediate pressures of unemployment while also contributing to long-term economic growth.

“In conclusion, The Arewa Youth Assembly stands firmly against the job cuts proposed by the Central Bank of Nigeria. The timing of these layoffs amidst economic distress, allegations of coercion in the resignation process, a lack of transparency, and political implications necessitate a thorough reevaluation of the proposed actions.

“We urge CBN to reconsider its decision. Rather than becoming an institution marked by oppressive measures and disregard for the welfare of its citizens, it should embody principles of integrity, equity, and accountability. The road to a prosperous Nigeria can only be paved if we are committed to the principles of fairness and economic inclusiveness”, the statement concluded.