The Central Bank of Nigeria (CBN) has directed banks to halt any plans to sack staff due to the COVID-19 pandemic. The decision was taken after a special meeting of the bankers’ A statement signed and released by CBN spokesman, Isaac Okorafor, The statement read
”A special meeting of the Bankers’ Committee was convened on May 2, The Committee particularly deliberated on the issue of the operating 1. In order to help minimize and mitigate the negative impact of the 2. To give effect to the above measure, the express approval of the The Central Bank of Nigeria solicits the support of all in our The CBN however did not state whether bank staff that have already been sacked will be recalled.
committee held on Saturday May 2, to review the implications of the
COVID-19 pandemic on the Nigerian banking industry.
today Sunday May 3, said that going forward, the CBN governor, Godwin
Emefiele, will have to be consulted before any bank staff is dismissed
during this pandemic.
2020, to further review the implications of the COVID-19 pandemic on the
Nigerian banking industry.
costs of banks in view of the disruptions emanating from the global
economic difficulties and decided as follows:
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).
Central Bank of Nigeria shall be required in the event that it becomes
absolutely necessary to lay-off any such staff.
collective effort to weather through the economic challenges occasioned
by the COVID-19 pandemic. ” the statement read
Breaking: CBN stops banks from sacking staff due to COVID-19 pandemic
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