The Central Bank of Nigeria, CBN, has dispelled the fears of staff members of commercial banks nursing the fear of losing their jobs, stating that it has been agreed at the Bankers Committee held yesterday that the banks should refrain from retrenching workers.
The CBN Director, Banking Supervision, Tokunbo Martins, made this known to newsmen, adding that bank workers who had been living in fears over the possibility of losing their jobs should be assured that their jobs are no longer under threat.
She said: “One of the things we discussed was about the impending retrenchment in the banking industry. So, we understand that many bank workers are expressing fears about possible retrenchment in the industry.
“We discussed and the banks are now committed to not retrenching their staff (workers) going forward. So, whatever rumours are flying around about that mass retrenchment is happening or not happening, that is not true.”
Martins, while admitting that Nigeria’s banks are facing economic challenges, assured the banking public that Nigeria’s financial sector is safe and sound, adding that the lenders “have strong capital buffers to weather the crisis.”
Last month, Unity Bank Plc was reported to have sacked no fewer than 215 http://dailypost.ng/2016/09/15/recession-unity-bank-sacks-215-workers/ employees over their inability to cope with the new ideas and strategy of the institution. Before then Diamond Bank was accused of sacking over 400 of its workers http://dailypost.ng/2016/07/21/diamond-bank-reportedly-sacks-400-staff-refuses-pay-entitlements/ in a manner that contravenes the provisions of redundancy as specified by section 20 of the Labour Act as well as other regulations, standards and best practices.
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