Breaking: Don’t Sack Workers, CBN,Bankers’ Committee Orders Banks

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The Central Bank of Nigeria and the Bankers’ Committee have directed banks to suspend sacking of its workers amidst the raging Covid-19 pandemic.

In a statement signed by the apex bank’s Director Corporate Communications,  Isaac Okorafor  it said “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 statements further said that 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:

“In order to help minimize and mitigate the negative impact of the COVID19 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).

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“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.”



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