Founder of Stanbic IBTC Bank, Atedo Peterside, has raised concerns over recruitment practices at the Nigerian National Petroleum Company (NNPC) and the Central Bank of Nigeria (CBN), alleging that access to employment in the two institutions gradually shifted from merit-based selection to a system driven by influence and elite connections.
Speaking during an interview on the Inspire Africa Series, Peterside argued that many senior officials who initially secured positions through competitive recruitment later became part of a system that limited similar opportunities for younger Nigerians without political or personal networks. According to him, this development reduced social mobility and weakened the principle of equal access to public sector employment.
He maintained that the country’s public institutions should remain open to qualified candidates regardless of family background or social status, Brandspur Banking News Desk reports. Peterside said talented Nigerians from modest backgrounds were once able to build successful careers in organisations such as the CBN and NNPC through merit, but claimed that this pathway became increasingly restricted over time.
The banker further alleged that job seekers were often advised to rely on influential contacts rather than qualifications when seeking employment in the institutions, describing the trend as evidence of a broader governance challenge in which established elites preserve opportunities for themselves and those within their networks.
Peterside stressed that maintaining transparent, merit-driven recruitment systems is essential for national development, warning that institutions risk losing public trust when access to career opportunities is perceived to depend more on connections than competence. He also expressed hope that reforms would ensure qualified young Nigerians can compete fairly for positions in strategic public institutions.
His comments have renewed discussion about transparency, equal opportunity and institutional governance in Nigeria, with renewed attention on the importance of recruitment processes that promote fairness, accountability and confidence in public sector organisations.
