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CBN Directs Access Bank, Others to Suspend Planned Retrenchment of Staff

IgbereTV reports that the Bankers Committee of the Central Bank of Nigeria (CBN) has agreed to suspend plans to lay off staff.

This was contained in a statement on Sunday, 3rd of May, 2020, by CBN’s Director of Corporate Communications, Isaac Okorafor.

The Group Managing Director of Access Bank, Mr Herbert Wigwe last week created panic when he announced the plans by the bank to sack 70% of its workforce.

Many analysts are of the opinion that laying off some workers at a time the world is battling the coronavirus pandemic will be disaster to the country.

MD/CEO of Sterling Bank, Abubakar Suleiman said, “Employers don’t want to shrink, if you can keep the business healthy, they will keep you”.

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