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 impacts 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 efforts to weather through the economic challenges occasioned by the COVID-19
pandemic.
This is contained in a statement signed by Isaac Okorafor, Director, Corporate Communications on Sunday.
It would be recalled that Access Bank recently announced the reduction of its workforce and salaries in the wake of the coronavirus pandemic.
