Banks have agreed to suspend their planned retrenchment of some of their staff, following the harsh effect of Covid-19 lockdown on their operations
The banks, at a meeting held last Saturday with the central bank of Nigeria (CBN) and bankers committee, agreed that none of their staff, including those on part-time, will be laid off
CBN director of communications, Isaac Okoroafor, in a statement says the meeting was convened to further re3view the impact of Covid-19 on the banking industry
Access bank has announced the planned layoff of most of its contract staff and pay cut
Several other banks plan to unveil their planned retrenchment programme this week
CBN, according to Okoroafor, told the banks that they must obtain its approval when it becomes very necessary to lay off any category of staff.