BREAKING: CBN, Banks Suspend Staff Lay-Off

CBN, Banks Suspend Staff Lay-OffPublished 21 seconds prior on May 3, 2020 By administrator

The Central Bank of Nigeria and the banks in the nation have consented to hold the arranged sack of laborers in the financial area because of the pandemic.

This was contained in an announcement on Sunday by the pinnacle bank's Director, Corporate Communications, Isaac Okorafor.

The Presidential Task Force Team on COVID-19 had said a week ago that banks would be permitted to re-open for business activities as the lockdown facilitates in parts of the nation viable Monday, May 4.

A few banks had proposed scaling down their workforce as they intend to recommence tasks, a choice that has met open clamor.

Be that as it may, the pinnacle bank said it met a gathering with the banks to survey the financial effect the proposed activity would have on laborers and their families, particularly at such a difficult time.

This was contained in a statement on Sunday 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 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).

“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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