Home BUSINESS BANKING & FINANCE Don’t Sack Your Staff, CBN, Bankers’ Committee Direct Banks

Don’t Sack Your Staff, CBN, Bankers’ Committee Direct Banks


CBN Governor, Godwin Emefiele

Central Bank of Nigeria (CBN), has directed all banks operating in Nigeria not to sack or retrench their workers under the guise of coronavirus financial crisis.At the special meeting of the Bankers’ Committee yesterday,  May 2, it was resolved that “in order to help minimize and mitigate the negative impact of coronavirus 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).”It was however resolved that CBN approval must be sought and obtained in a situation it becomes absolutely necessary to lay-off any such staff.In a statement today, May 3, the CBN’s Director of Corporate Communications, Isaac Okorafor said that the apex bank is soliciting the support of all in the collective effort to weather through the economic challenges occasioned by coronavirus pandemic. The Bankers’ Committee meeting was held to further review the implications of coronavirus 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.

Editorial staff
Editorial Staff at Greenbarge Reporters is member of a team of journalists led by Editor-in-Chief, Yusuf Ozi Usman.

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