By Abdulrahman Aliagan, Abuja
The Central Bank of Nigeria (CBN) has halted the decision of Nigeria Commercial bank in laying-off their staffs in the face off COVID-19 and its economic consequences.
This is contained in a document signed by the spokesperson of the Apex Bank, Isaac Okoroafor, said the order was given at the end of a special meeting of the Bankers’ Committee held on May 2 to further review the implications of the COVID-19 pandemic on the Nigerian banking industry.
Meanwhile, rumors about the looming sack of workers in the banking sector have been on since the outbreak of the coronavirus, Access Bank Plc was the first to announce its plan to downsize, or in the alternative slash its workers’ salaries.
It would be recalled that, the group managing director of the bank, Herbert Wigwe, announced during a video conference with the bank’s staff that the management of the bank plans to offload about 75 per cent of its workforce.
Criticism has tailed the bank’s decision with the Nigeria Labour Congress threatening to mobilise its members to fight such plans.
To guide against a major crisis in the country, even as the country’s economy is struggling to find its footing as the economic impact of the coronavirus bites harder, the CBN, through its Bankers’ Committee, on Sunday, ordered the immediate suspension of such plans.
The statement titled: “CBN, Bankers’ Committee Suspend Lay-offs in Banks”, reads:
“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 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).
“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.”
It would be recalled also that on January 3rd , 2020, UBA laid-off thousands of it workforce advancing that the organization was rebranding and it needs to do away with what it called old staffs.
However, over 200 staffs came together to challenge what they call dastard act in the court of law.
