The Central Bank of Nigeria (CBN) has ordered commercial banks not to sack staff amidst the coronavirus pandemic, and this directive followed speculations about the impending sack of workers in the banking sector in the wake of the ravaging coronavirus
Penpushing reports that the Group Managing Director of Access bank, Herbert Wigwe made this known during a video conference with the bank’s staff that the management of the bank plans to sack about 75 per cent of its workers.
The apex bank through its Bankers’ Committee, ordered the immediate suspension of such plans, and this was in line with a special meeting of the Bankers’ Committee held on May 2 to further review the implications of the coronavirus pandemic on the Nigerian banking industry.
Penpushing further reports that, spokesman of the Central Bank of Nigeria (CBN) Isaac Okoroafor in a statement titled: “CBN, Bankers’ Committee Suspend Lay-offs in Banks”, said, the committee deliberated on the issue of the operating costs of banks in view of the disruptions emanating from the global economic difficulties and made some decisions
*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).
*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.
*The Central Bank of Nigeria solicits the support of all in our collective effort to weather through the economic challenges occasioned by the COVID-19 pandemic.”
Penpushing also reports that, a special meeting of the Bankers’ Committee was convened on May 2, 2020, to further review the implications of the pandemic on the Nigerian banking industry, and particularly deliberated on the issue of the operating costs of banks in view of the disruptions emanating from the global economic difficulties