The house of representatives has asked the Central Bank of Nigeria (CBN) to suspend the “planned” retirement of 1,000 staff.

The apex bank is said to be preparing to retire 1,000 officials and provide them with a severance package totaling over N50 billion.

During Tuesday’s plenary, the house resolved to set up an ad hoc committee to investigate the “process and legality” of the exercise to “ensure transparency, accountability, and proper utilisation of funds”.

The lower legislative chamber passed the resolution following the adoption of a motion of urgent public importance sponsored by Kama Nkemkama from Ebonyi state.

Nkemkama said the “sudden” planned retirement of the staff, including directors and senior management, “raises critical questions about the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labour laws”.

“Such a significant decision has socio-economic implications for the affected individuals, their dependants, and the broader economy, potentially leading to increased unemployment and public dissatisfaction,” he said.

“The reported payoff scheme amounting to N50 billion may lack sufficient accountability and oversight mechanisms, posing risks of mismanagement and abuse of public funds in a sector vital to Nigeria’s financial stability.”

The motion was adopted when it was put to a voice vote by Tajudeen Abbas, speaker of the house.

Consequently, the house asked the ministry of labour and employment to protect the rights of the affected staff.

The committee, when set up, has four weeks to carry out the investigation and report back to the house.

The Federal Government has commenced a free Compressed Natural Gas bus service in Abuja to ease transportation costs for Nigerians in the capital city.

The CNG buses began operations on December 2, 2024, as shown in a video shared by the Presidential CNG Initiative on its X (formerly Twitter) page.

The buses, according to reports, will run along popular routes from suburbs in Abuja such as Mararaba to Eagle Square and Berger bus stop.

The government had said that the buses would convey passengers free of charge for the next 40 days.

The free bus ride will end on January 6, 2025.

Last week, the government, through the Ministry of Transportation, handed over 15 Compressed Natural Gas-powered buses to three transport unions to ease the high cost of transportation in the capital city.

The transport unions that benefitted from the gesture include the National Road Transport Workers Union, the Nigerian Association of Road Transport Owners, and the Road Transport Employers Association of Nigeria.

In a video obtained by our correspondent on Monday, commuters who benefitted from the program commended the government initiative to reduce the costs of transportation.

One of the respondents, Fatima, said, “I just boarded a CNG bus going to Maraba, and we were asked not to pay, and I didn’t pay. I hope it will continue for long.

“I like it very much; I know this is the beginning of good things that will happen to Nigerian people.”

Another respondent, Blessing, said, “If they’re doing like this, we’ll be happy. After this one now, let them bring down the price. That’s why I said after this one they should.”

The Federal Competition and Consumer Protection Commission (FCCPC) says it will probe consumer complaints of exploitative practices in banking, telecommunications, and aviation sectors.

In a statement on Sunday, Ondaje Ijagwu, FCCPC’s director of corporate affairs, announced that the probe is scheduled to commence from December 3 to December 5.

He said the inquiry would address issues related to poor service delivery, exploitative practices, and possible violations of consumer rights.

“In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications,” Ijagwu said.

“In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.

“Similarly, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.

“These inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, specifically Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.”

The director said the FCCPC’s engagement with the companies provides a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards.

He said the companies will be required to appear before the commission on specified dates to provide information and responses, allowing the commission to make decisions and address outstanding issues efficiently.

According to Ijagwu, the action reflects the FCCPC’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors.

He urged consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels.