The Central Bank of Nigeria has directed to all banks the immediate suspension of the laying off of staff in commercial banks.
The apex bank reached the critical decision after its Bankers Committee meeting of the second of May 2020. In a statement shortly after its meeting, CBN Director of Corporate Communications, Isaac Okorafor, said;
Should it be absolutely necessary for any bank to do so, the approval of the CBN must be sought.
“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.”
(C) Control TV 2020.
