CBN, Bankers’ Committee Suspend Lay-Offs In Banks

May 3, 2020

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Emefiele, CBN, fund, facilities, in, Emefiele, intervention fund, coronavirus — Godwin Emefiele CBN governor

The Committee particularly deliberated on the issue of the operating costs of banks in view of the disruptions emanating from the global economic difficulties.

The statement signed by Isaac Okorafor noted that the meeting decided that 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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