Banks, CBN reach agreement on Laying-off of workers

Banks, CBN reach agreement on Laying-off of workers
May 03 21:38 2020 Print This Article

By Martin Odiete, Abuja

The Central Bank of Nigeria and the Bankers’ Committee has reached agreement on the issue bothering on the laying-off of workers.

And the meeting agreed that in order to help minimize 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 of any cadre (including full-time and part-time).

The meeting which was held May 2, 2020 reviewed particularly the implications of the COVID-19 pandemic on the Nigerian banking industry.

They also deliberated on the issue of the operating costs of banks in view of the disruptions emanating from the global economic difficulties.

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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