Central Bank of Nigeria (CBN) stops banks from sacking workers

Bank workers will no longer nurse the fear of losing their jobs. Central Bank of Nigeria (CBN) Director,
Banking Supervision, Tokunbo Martins, told reporters after the Lagos
meeting, 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.

The Central Bank of Nigeria, CBN, has asked the management of all the
commercial banks in Nigeria to halt any plans to sack some of its

CBN’s Director, Banking Supervision, Tokunbo Martins broke the news at
the Bankers’ Committee meeting held in Lagos today.

“One of the things we discussed was about the impending retrenchment in
the banking industry. So, we understand that many bank staff are
experiencing fears about possible retrenchment in the industry.
We discussed it among the banks and the banks are
now committed to not retrenching their staff going forward. So, whatever
rumours are flying around about that mass retrenchment happening or not
happening, that is not true”the Nation reports

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