Dayo Omoogun
The Bankers Committee has decided that no bank in Nigeria should retrench or lay-off any staff of any cadre (including full-time and part-time).
The decision to halt any such plan was reached at a special meeting of the Bankers Committee held with the Central Bank of Nigeria on May 2, 2020 after reviewing the implications of the COVID-19 pandemic on the industry.
To this end, it was further agreed that any bank that wishes to embark on any retrenchment exercise must get the express approval of the Central Bank of Nigeria
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.