The Central Bank of Nigeria (CBN) has waded in to halt the lay-off by commercial banks.
The apex bank said in a statement yesterday that the decision was taken after a special meeting with the bankers' committee.
According to a statement signed by, Mr Isaac Okoroafor, the Director of Corporate Communication of the CBN, henceforth, no staffs either ad-hoc or permanent shall be sack without the approval of the apex bank.
The statement reads in full as;
“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 cost of banks in view of the disruption emanating from the global economic difficulties as have decided as follows;
“In order to minimise or 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 both full 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 our collective effort to weather through the economic challenge occasioned by the COVID-19 pandemic.”
