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Home Business News Business

Ministry of Finance orders compulsory retirement for Directors

Aghogho Udi by Aghogho Udi
August 4, 2023
in Business, Business News, Politics
Ministry of Finance orders compulsory retirement for Directors
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The federal ministry of finance has ordered its Directors on SGL 17 who have spent eight (8) years in the position to submit notices of retirement.

This was disclosed in an internal circular signed by the ministry’s Director of Administration, Mariya A. D Rufai seen by Nairametrics.  

  • According to the memo, “all affected Directors are advised to commence the process of documentation with the administration department for compulsory retirement” 

The reason for the directive according to the memo was the provisions of 020209 of the 2021 edition of the revised public service rules which takes effect from July 27th, 2023.  

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Directors should handover to subordinates 

The circular further directed affected persons to handover official documents and other possessions  

It states,

  • “Furthermore, the Directors in question should formally handover to the most senior officers in their respective departments and surrender all official documents including Identification cards as well as official vehicles (if any) before exiting”  

What you should know 

Prior to this, the special adviser to President Bola Tinubu on monetary policy Wale Edun unveiled the revised civil service rules at a public lecture to mark the civil service week. 

On July 27, the Head of Civil Service of the Federation Folasade Yemi-Esan in a memo addressed to Permanent Secretaries, Accountant-General of the Federation, Auditor-General of the Federation and Heads of Extra Ministerial Departments, ordered strict compliance with the new revised civil service rules. 

The memo reads,

  • “Following the approval of the revised Public Service Rules by the Federal Executive Council on the 27th of September, 2021 and its subsequent unveiling during the public service lecture during the commemoration of the 2023 Civil Service Week, the PSR has become operational with effect from 27 July, 2023.” 
  • “You are, therefore, to ensure full compliance with all provisions of the Public Service Rules, 2021. Please, ensure strict compliance with the contents of this circular.” 

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Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

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