CBN stops banks from sacking workers

The Bankers Committee, yesterday halted, retrenchment by banks. CBN Director, Banking Supervision, Tokunbo Martins, told reporters,after the 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. 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."