We Will Reduce Mass Sacking, Bank Chiefs Tell CBN

The bank chief executive officers under the aegis of the Bankers’ Committee of the Central Bank of Nigeria (CBN), has promised to reduce the rate mass sack in banks.

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

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Addressing journalists shortly after the meeting, managing director, Standard Chartered Bank, Mrs Bola Adelola, said the mass sack in the sector was discussed at the meeting and that the banks going forward would minimise the issue of job losses.

CBN Governor MR Godwin Emefiele
CBN Governor MR Godwin Emefiele

The committee also disclosed that banks would soon commence the National Collateral Registry (NCR), which would allow the use of assets such as cars, refrigerators, mobile phones among others, as collateral for loans, if they are registered.

Other members of the committee present at the media briefing are the director, Banking Supervision, CBN, Mrs Tokunbo Martins; managing director, United Bank for Africa Plc, Mr Phillips Odouza, and managing director, Union Bank of Nigeria Plc, Mr Emeka Emuwa.

On the issue of mass sack, Adesola added that while the banks understood the economic situation in the country, there would always be reasons for workers to be relieved of their jobs.

She said, “On the recent news item on retrenchment. That we also discussed;we touched on it and obviously banks understand the implications of people not being in employment.We know what the situation is like in the country.

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Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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