Global Upfront Newspapers
BusinessCoverNews

CBN, Bankers’ Committee suspend lay-offs in banks

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 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).

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. 

Isaac Okorafor

Director, Corporate Communications

Advertize With Us

See Also

Tinubu’s Presidency: Where is Senator Shettima?

Global Upfront

US soldier in Germany flown home, charged in shooting deaths of grandfather, great-grandmother

Global Upfront

U.S. to get 100 Million doses of Pfizer Coronavirus vaccine in $1.95 billion deal

Global Upfront

63rd Independence Anniversary: Tinubu Speaks On Hardships Of Subsidy Removal, Insecurity, Silent On October 3 Nationwide Strike

Global Upfront

Threat of banditry to farming is real, says Kaduna Agriculture Commissioner

Global Upfront

Nigeria’s Fuel Crisis: Smaller, More Flexible Refineries Aren’t The Full Answer

Global Upfront

Why Nigeria’s Electricity Grid Collapses And How To Shore It Up

Global Upfront

Anambra Govt Bans Wearing of Miniskirts in Secondary Schools

Global Upfront

The Most Impossible Article Ever Written

Global Upfront

‘If not now, when?’: U.S. Black women seize their moment in the political spotlight as Joe Biden set to name running mate

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More