This directive was contained in the CBN latest press statement by the Director, Corporate Communications, Mr. Isaac Okorafor, on Sunday, saying that any planned lay-off by any financial institutions must get an approval from the apex bank.
This is coming barely 48 hours after the leaked video of the Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, revealed that some 75 per cent of the workforce that he described as non-essential workers including tellers and other employees, would be laid off.
CBN in a press statement appeared available to ITREALMS said that following a special meeting of the Bankers Committee, they resolved that despite the obvious implication of the pandemic, no bank will sack staff.
Part of the statement read:
“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:
1. 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).
2. 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,” he said.
Remmy Nweke/DoP
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