Stop The Retrenchment Now, CBN Orders Banks
May 4, 2020
6:26 am
The Central Bank of Nigeria, CBN, has ordered banks to stop any form of retrenchment of workers now.
Isaac Okorafor Director, Corporate Communications, CBN, said the apex Bankersβ Committee both decided to suspend lay-offs in banks.
The statement said that 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).β
It said the decision was taken following special meeting of the Bankersβ Committee on May 2, 2020, to further review the implications of the …
