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CBN stops banks from sacking workers

13 October 2016, 15:20

Lagos - Central Bank of Nigeria (CBN) has barred commercial banks from retrenching their staff, reports The Nation.

Director, Banking Supervision at CBN, Tokunbo Martins, made this known on Wednesday, at the Bankers’ Committee meeting held in Lagos,

He said the issue was discussed with the banks and it resolved to halt retrenchment in the industry.

Also read: Skye Bank sacks 175 workers

Over 2 000 workers have been sacked by commercial banks in the last three months.

Ecobank Nigeria sacked 1 040 of its employees, while Diamond Bank Plc and Skye Bank also retrenched 200 and 175 members of their workforce.

FBN Holdings, the parent company of First Bank of Nigeria Limited, recently said it would prune the number of its employees by 1 000.

- News 24


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