Business

JUST IN: CBN clarifies staff early exit exercise

Published

2 years ago

December 4, 2024

490 Views

The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements, clarifying that its Early Exit Package (EEP) was entirely voluntary and without any negative repercussions for eligible staff.

The Vanguard reports that the Ag. Director of Corporate Communications, Mrs. Hakama Sidi Ali, made the clarification today, that the decision to implement the exercise was the outcome of extensive consultations with the Bank’s Joint Consultative Council (JCC), a body representing staff interests.

Mrs. Sidi Ali explained that the EEP, a longstanding policy previously accorded to the executive cadre, has now been made available to eligible staff at all levels.

For some time, staff representatives through the JCC had called on management to approve the early exit package for all cadres.

Following these discussions, management decided to meet this popular demand,” she said.

Addressing the concerns about potential repercussions for staff who decline the package, Mrs. Sidi Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded.

She further emphasized that the initiative is an internal corporate matter designed to promote career development for staff.

Business

Johnson & Johnson Willing To Pay $5.5bn To End Baby Powder Lawsuits Against The Company

The proposed settlement encompasses approximately 76,000 claims, including those consolidated in federal court in New Jersey and related cases in state courts, representing nearly all outstanding talc-related allegations against the company.

Published

4 minutes ago

July 29, 2026

OCHEFA

2 Views

Johnson & Johnson has announced a provisional settlement of an estimated $5.5 billion to resolve tens of thousands of lawsuits alleging its talc-based products, including baby powder, caused ovarian cancer.

J&J had previously settled the majority of cases asserting that its talc contained asbestos and led to mesothelioma

The landmark agreement could bring an end to a contentious legal battle that has plagued the pharmaceutical giant for a decade.

The Independent UK reported yesterday. Plaintiff law firms confirmed the deal, describing it as a positive resolution following the protracted court proceedings.

For the agreement to become final, it requires acceptance from 95 per cent of the ovarian cancer claimants across state or federal jurisdictions.

Erik Haas, J&J’s Vice President of Litigation, maintained that the claims were “meritless” but stated the company was willing to settle to achieve “closure.”

Business

FG Availing ₦3.6bn to 200,000 Tailors Nationwide

Dr Afiz Ogun, Director-General of the ITF, announced the approval during the nationwide screening of applicants for the 2026 edition of the SUPA Programme in Abuja.

Published

3 hours ago

July 29, 2026

OCHEFA

17 Views

Image credit: Bella Naija

The Federal Government has launched a ₦3.6 billion funding to support about 200,000 tailors under the Industrial Training Fund’s (ITF) Skill Up Artisans (SUPA) Programme.

Dr Afiz Ogun, Director-General of the ITF, announced the approval during the nationwide screening of applicants for the 2026 edition of the SUPA Programme in Abuja.

He said that the screening is designed to ensure only genuine artisans benefit.

Applicants are assessed on documentation, practical skills, commitment to the trade and readiness for further training.

The programme, launched in 2024, aims to reduce Nigeria’s dependence on foreign artisans by equipping local professionals with modern technical and entrepreneurial skills.

Under a new business incubation model, beneficiaries will receive industrial-grade sewing machines, specialised tailoring equipment, business signboards, mentorship and technical support.

The ITF dropped its previous practice of distributing starter packs after discovering that many beneficiaries sold the equipment instead of using it to build businesses.