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COVID-19 Pandemic: Central Bank Of Nigeria (CBN) Orders Banks To Suspend Layoffs

Unic Press UK: The Central Bank of Nigeria (CBN) and the Bankers’ Committee have agreed that no bank should lay-off any staff in light of indications that several banks in the country are on the verge of laying off some workers as the effect of COVID-19 pandemic takes a toll on earnings.

In a press release Sunday, the CBN, through its Director of Corporate Communications, Isaac Okorafor, said:

“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.”

Nigeria COVID-19 Case Update As of 23.55 Hrs GMT on 2 May 2020

 

 

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