CBN, Bankers’ Agree On Suspending Lay-offs in Banks
Oru Leonard
The Central Bank of Nigeria (CBN), has intervened in the alleged lay- offs of bank workers in Nigeria.
The Director, Corporate Communications of CBN, Mr Isaac Okorafor said this in a press release made available to News Dot Africa in Abuja on Sunday May 3.
“A special meeting of the Bankers’ Committee was convened on May 2, 2020, to further review the implications of the COVID-19 pandemic on the Nigerian banking industry. The Committee particularly deliberated on the issue of the operating costs of banks in view of the disruptions emanating from the global economic difficulties and decided as follows:
1. In order to help minimize and mitigate the negative impact of the COVID-19 pandemic on families and livelihoods, no bank in Nigeria shall retrench or lay-off any staff of any cadre (including full-time and part-time).
2. To give effect to the above measure, the express approval of the Central Bank of Nigeria shall be required in the event that it becomes absolutely necessary to lay-off any such staff”, he explained.
Mr Okorafor also stated that the Central Bank of Nigeria solicits the support of all in the collective effort of stakeholders to weather through the economic challenges occasioned by the COVID-19 pandemic.
