CBN reaches agreement with banks to suspend staff sacking.

The Central Bank of Nigeria and the banks in the country have agreed to stop the  planned sacking of it’s workers in the country as a result of the pandemic. This was contained in a statement on Sunday by the apex bank’s Director, Corporate Communications, Isaac Okorafor. Recall the Access Bank had generated outrage after the GMD Herbert Wigwe disclosed plans for the bank to lay off almost 75% of staff. This came as the Presidential Task Force Team on COVID-19 had said last week that banks would be allowed to re-open for commercial operations as the lockdown eases in parts of the country effective Monday, May 4.

Read also…

Related posts

Some banks in the country had earlier express interest in retrenching some of its staffs mostly the non-essential workers but the Apex bank has since wedge in to stop it from happening.

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).

“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.”

In the other news

Sharing is Caring


Related Stories

Leave a Reply

Your email address will not be published.