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Your jobs are secured, CBN reassures bank workers

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Tax every GSM call above 3mins, Emefiele counsels FG.

Bank workers in the country may be in for a better deal over the security of their jobs as the e Bankers Committee, Wednesday stopped retrenchment by banks.

The new directive to banks was disclosed by the Director of Banking Supervision at the Central Bank of Nigeria, CBN, Tokunbo Martins, who spoke to reporters after the Lagos meeting of the committee, adding that bank workers who had before now lived in fear over the likelihood 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”.

Read also: How family member exposed Goodie Ibru to EFCC over alleged N1.8bn fraud

On the fear of possible distress in the banking sector, Martins the country’s financial sector is safe and sound. She however admitted that Nigerian banks are facing economic challenges, but “have strong capital buffers to weather the crisis.”

Martins said: “Yes there was discussion around the stability of the banking sector. But even without the discussion, as Director Banking Supervision of the Central Bank of Nigeria, I can tell you that the report is false. The banks are adequately capitalized, so the report is not true. That does not mean that the banking sector is not feeling the economic headwinds. The headwinds are also in every other jurisdictions. It is not strange. So, non-performing loans at 11.7 per cent is not what we should focus on”.

By Timothy Enietan-Matthews

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