Some cheering news for bank workers as the Central Bank of Nigeria, CBN, and the Bankers Committee has suspended further layoffs and retrenchment in banks.
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The decision is coming after a special meeting of the Bankers Commitee convened on Saturday, May 2 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 global economic difficulties and eventually came out with two major decisions.
One of the decisions is that in order to help minimise 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 in any cadre and this includes those on full time and part time employment lm.
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 staff.
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The apex bank called for support of all in the country’s interest to weather through the economic challenges occassioned by the Covid-19 pandemic.
The statement however did not specifically address the case of a commercial bank that has sent text messages to its workers informing them of their lay-off from Monday, May 4.
(Editor: Terverr Tyav)
