CBN, Banks Working To Reduce Mass Sacking

The Bankers’ Committee of the Central Bank of Nigeria (CBN) on Thursday said it would refrain from further job lay-offs as requested by the Federal government in the hope that certain fiscal policies that triggered the trend would be addressed by the fiscal authorities.

The committee stated this at the end of its 327th meeting at the headquarters of the CBN in Abuja

The Managing Director,Standard Chartered Bank,Mrs Bola Adelola, who said the mass sacking in the sector was discussed at the meeting explained that while the banks understood the economic situation in the country, there would always be reasons for workers to be relieved of their jobs.

“Thus we are looking at ways of ensuring that we minimize many exit from our institutions. There will always be exit as you know because there is fraud and so on and so forth.

“So we have noted the market sentiments and I am sure that going forward it will be different,” she said.

Adesola said that the framework for a National Collateral Registry was almost ready and when released, it would facilitate the easy access of loans by bank customers.