Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,190 members, 7,818,619 topics. Date: Sunday, 05 May 2024 at 08:00 PM

CBN & Bankers Committee Suspends Lay-offs In Banks - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN & Bankers Committee Suspends Lay-offs In Banks (58734 Views)

Nigerians Vent Their Anger On CBN, Bankers / CBN Bankers Committee Suspends Lay Offs In Banks / Bankers Committee Introduces Two Classes Of BVN (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by MzTunechi(f): 7:17pm On May 03, 2020
Commendable. I hope they adhere
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by OdefaGirl(f): 7:18pm On May 03, 2020
This is actually a good news...... you just saved lives..... what about those who have been laid off since Thursday or so?
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by PRECIOUS14482(m): 7:20pm On May 03, 2020
Thanks to CBN...I reported this issue to CBN, EFCC and Ministry of Finance and Budget on Friday via twitter.

1 Like 1 Share

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by jaxxy(m): 7:20pm On May 03, 2020
SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?

Cbn can intervene in general bank policies if neccessary to either regulate it more, curtail abuse of powers and disrupt the economy. In this case mass sacking wud be dangerous. The ripple effect will be a calamity.

Government driectly or via cbn has to intervene because of the special situation.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by holo: 7:22pm On May 03, 2020
This is a welcome development.
It is important we help preserve the existing jobs in these crucial times.
I thank the Bankers Committee and the CBN for this Directive.
Indeed, it can only take our collective effort to weather the storm and challenges this pandemic is posing at us.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Mahmudk2: 7:24pm On May 03, 2020
Nonsense, Idiot, Mumu, Wawa Kawai, God Punish U & Ur Generation For Trying To Let Us Know Ur Opinion. Sum1 Wit Family Is Trying To Loose His/her Means Of Livelihood & U Are Saying D People Wit High Authourity Above Doz Bnks Shuld Kip Watching Wit Pleasure?
It Wil Not Be Well Wit U.
Wit People Lyk U In A Comunity
U Can Do Worst Than Ganduje.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by gift2xl: 7:25pm On May 03, 2020
Nice 1
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by MyOpinion1(f): 7:25pm On May 03, 2020
sexylassie2:


exactly, so the bailout will be from taxpayers and account holders, they will be overcharging us for ridiculous services.

i wonder how they think in this country

That is how it works, in as much as I don't subscribe to laying staff off at least the CBN should tell us explicitly how they are going to help the commercial banks in case of any loss and by any implications will not affect the customers money
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by wacuc0: 7:26pm On May 03, 2020
[left][/left]
SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?
That is the work of CBN. Remember when it gets bad for the bank, the same CBN gives them money to bail them out. This is not a business loss for the banks rather a Force-Majeure. It is left for the CBN to work out the way to cushion the effect.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by dadexcel: 7:28pm On May 03, 2020
SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?
.....the more reason for you to know that for the banks to agree to this is deal , CBN made them so offers....
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by evansjeff(m): 7:28pm On May 03, 2020
sexylassie2:


There is no joy but every business must either cut cost in a downturn or close shop leading to another mass sacking


There are several other ways to cut cost apart from sacking. You just read that both the CBN and the banking committee have agreed on a policy so what’s the problem about? Are people just sitting deliberately waiting for bad news? Think about their wives and children and other dependents

4 Likes

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by adabaraabdul: 7:29pm On May 03, 2020
In as much as i dont want anybody to lose his or her job, i find his CBN directive reallly lugubrious, if the cbn will give the banks interventions or bail out funds I will understand this. But I dont even understand how this will work. Very funny.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by ChengHun(m): 7:29pm On May 03, 2020
Good development
If u are interested in learning whiteboard animation using videoscribe or explaindio. chat me up. I will guide on how to get the set up and how to use it.
Within one week u will be making your own videos. You can create adverts for people and make money. I will always be available any time you need assistance
just chat me up and I will respond. call/chat me on 0.9.0.3.1.1.0.1.2.5.6
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by A305: 7:29pm On May 03, 2020
The igwe has spoken!
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Lush100(m): 7:30pm On May 03, 2020
Full time and part time.
Please which work is part-time in the bank?
If they say full time staff and contract staff,
I could understand,
But part-time,
Until I confirm from top people that the circular is genuine and binding,
It's with a pinch of salt
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by 234GT(m): 7:30pm On May 03, 2020
sexiestharam:
Contract staff are not direct staff of the bank. They would sack contract staff.

Read the press release again. Contract staff are covered. If the government bails out banks with taxpayers money, so be it.

Bankers pay heavy taxes, so there is nothing bad in bailing the industry out.

1 Like

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Netmuch(m): 7:30pm On May 03, 2020
SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?


Ogbeni you are heartless... Ppl like you should be sacrificed to the gods. Wetin ppl go chop in this time?
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Nobody: 7:31pm On May 03, 2020
I pity all of you rejoicing. It seems some of you went through high school and university, read economics and then when issues that require sound economic analysis arise, people brain go just enter Agbaya mode. The only way this will be feasible is:

1. CBN will cut the banks a lot of regulatory slack to make more money. This will be to the detriment of the larger economy and stifling funds the real sector, which is the only sector that will pull us out of the recession needs.

2. Direct bail out funds by the FG. Starving the real sector if needed funds.

3. Huge tax rebates. Again detrimental to the larger economy. The number of jobs it will keep is negligible to the damage this will cause.

4. They were mum on what the salary scale would be. Guess what, they will simply divide the total salary they would have paid had they sacked people by the total number of staff without sacking and adjust peoples salary grade. So effectively , the only way If 1-2 were not the case is a general downgrade in salary.

N:B There is never going to be a win win situation. Someone or something has to loose because of this decision. The question is hope the other side will not mind.

1 Like

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by sonnie10: 7:32pm On May 03, 2020
SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?

Maybe that is why CBN is called regulator.
They just won’t let these players behave anyhow
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by oluwasegun007(m): 7:35pm On May 03, 2020
Galacious1:
Sounds audio till I get a mail of recall


Were you affected sir
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by masseratti: 7:35pm On May 03, 2020
naptu2:


Question, what is the bankers committee?
I was wondering myself, are they going to take over the management of a distressed bank?
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by K4daniel: 7:36pm On May 03, 2020
CBN is a bankers bank, it regulates and control the activities of commercial banks. It can lend money to Access Bank to enable it come bank to life.

CBN of today is not like those days, it would ensure safe and sound banking system where no oppression and fear of sacking, it will not allow access bank cause confussion and economic difficulties for staff whose hope and daily income depends on their jobs, if care is not taken other banks may also join Access in doing same thing.

Thank God for sane man like CBN governor Emefule who is doing a great Job.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by sexylassie2(f): 7:36pm On May 03, 2020
evansjeff:


There are several other ways to cut cost apart from sacking. You just read that both the CBN and the banking committee have agreed on a policy so what’s the problem about? Are people just sitting deliberately waiting for bad news? Think about their wives and children and other dependents

reducing the labour force or unpaid leave is the only way to cut cost in this downturn

in this option reducing the labour cost is the only solutions

with what has happen, it means tax payers is going to pay to bailout banks, i hope you know they increase vat to 7%, imagine what more they will do to make the masses suffer so that they wont sack nobody in the bank

what several ways do you suggest to cut cost?

1 Like

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by naptu2: 7:36pm On May 03, 2020
masseratti:
I was wondering myself.

naptu2:
Note: The Banker's Committee is made up of the chief executives of all banks in Nigeria along with the directors of the CBN. This means that the CEOs of banks in Nigeria have agreed to this policy. They've most likely already gotten something out of it.

Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Nobody: 7:37pm On May 03, 2020
Good decision ,but it is time to make our business enabling environment flawless so we can attract new FDI..especially from those running away from China.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by idtwo: 7:37pm On May 03, 2020
Oga, the banks are still making good profit, you only need to see their 1st quarter report. It is just a question of tolerating a little less profit than they earlier projected by not sacking workers, this is better for the society in the long run.
Nobody said they cannot reduce wages a bit but don't sack people at this time. The guys at the top echelon are the ones that take the lion share of the wage bill in reality, not the low cadre.



SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Kingzy4pep(m): 7:37pm On May 03, 2020
HarunaWest:

How you wan take market when there's Covid all around..you must be jokinh
LOL. Seems you're a banker.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Yuceeluv(f): 7:39pm On May 03, 2020
Lol i will allow a banker/ex-banker reply you. Be like you no know how banks do.

HarunaWest:

How you wan take market when there's Covid all around..you must be jokinh
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by masseratti: 7:39pm On May 03, 2020
naptu2:


okay... I just pray all ends well at the end of this pandemic, the truth is that we just don't have the money to keep both the private or public sector afloat right now.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Adakintroy2: 7:39pm On May 03, 2020
SLAP44:
I need explanation, are the CBN and bankers committee now doing the work of managing the bank which I thought were business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business.

Why then are the CBN interfering with the decision, if these banks experience distress because of the insistence the regulatory bodies, who will bear the consequences?

Oga go one side. Talk like someone with soul small. See how you rush come to protect business while others DE protect human being.
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by SavageMaster: 7:41pm On May 03, 2020
naptu2:


https://www.cbn.gov.ng/Out/2020/CCD/CBN%20Bankers%20Comm%20Suspend%20Layoffs.pdf

This is good.

On top of the hunger virus, some banks still want people to lose their jobs
Re: CBN & Bankers Committee Suspends Lay-offs In Banks by Kingzy4pep(m): 7:42pm On May 03, 2020
Yuceeluv:
Lol i will allow a banker/ex-banker reply you. Be like you no know how banks do.

Madam, truth is bank marketers aren't working now.

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

Hauwa Indimi To Wed Muhammad Yar'adua (Pre-Wedding Photos) / I Have N500,000 Cash, What Profitable Business Can I Start? / Chidi Adimabuah: Get Free Business Promotions

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 52
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.