oluwasegun007:



Were you affected sir

yes sir

Dannjay:

Are you normal?

ubanka ne not normal, shege Dan kwaya

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?

. Ogun kee u dia... because u r not affected abi. Foolish somebody!

Isn't it obvious to you, Mr Economics, that wage reduction across board is better for the society than sacking some people at this time. Each worker in this country has a minimum of four dependants, can you see the spiral effect?

georgeiyke009:
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.

oga my sister is one...she resumes work tomorrow.

Kingzy4pep:
Madam, truth is bank marketers aren't working now.

naptu2:


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

Good one!
Nice effort from CBN. Let them also look into my signature.

Access Bank cannot dash FG #1billion, only to turn and be deducting it from customers accounts.

It didn't end there. They embarked on mass sacking!

Who does that?

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?

You are just a pained idiot lols. Do you know how many people depend on an average banker? And do you know how much tax an average banker pays monthly?

Kingzy4pep:
LOL. Seems you're a banker.

yup

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 is a regulatory body in banking sector. If banks have issues, they were supposed to approach CBN to be advised, guided and supported but they decided to take this huge economic decisions which was clearly in bad taste.

So they had to be corrected, if they insist, discipline can follow suit.

CBN is playing it's fatherly role.

Yuceeluv:
Lol i will allow a banker/ex-banker reply you. Be like you no know how banks do.

me Na bank myself ooo...banks aren't making too much lose St this period...depositors funds are trapped and they are getting steady interest from CBN...It's just the CRR that's the issue,they can't give out facility's cos COVID has affected most going concerns so repayment might default.

234GT:


You are just a pained idiot lols. Do you know how many people depend on an average banker? And do you know how much tax an average banker pays monthly?

He needed an explanation and this is not one.

We need to tell ourselves the bitter truth what access bank has done by sacking her workers is not reversible either by the CBN or bankers committee. Those sacked workers are goners they will never be recalled back to
Work again

They only did this not to allow other banks to follow the same line of action

Galacious1:
yes sir

So sorry...please loosen up

Queenmark:
They did not bring solution. If banks are not making income how will they pay salaries?

How can banks not make money this period?

zedegit:


He needed an explanation and this is not one.

No sir. Read his post again. He is clearly not happy that there won't be job losses in the banking sector.
Some people are always happy about bad news. He is one of them.

zedegit:


He needed an explanation and this is not one.

Exactly. The way we rush to throw insults at each-other on this forum is so appalling

sexylassie2:


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?

What happens to a certain percentage salary cut in the interim until things get better?

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?

I wonder o.
I see this as an ordinary media stunt.
CBN wanna cover the mess of mass layoff which would v been blamed on the FG's frail containment of Covid-19

HarunaWest:

If CBN should order the banks not to lay off, that means there is an incentive involved..It's scratch my back I scratch yours. What I see most banks doing is to pay percentage salary.

incisive. the best comment on the matter in my view!!

This is a good practice on democracy, �

Galacious1:
yes sir

All is well...

Please be strong.


Hopefully the new directive should reverse the lay-off

Please update us as soon as you guys get recalled.

Good luck

In my opinion this doesn't necessarily change anything as they are just trying to appear as though they have it in control because no. 2 states that:

*_The express approval of the Central Bank of Nigeria shall be required in the event that it becomes absolutely necessary to lay-off any such staff_*

Which in essence means that once the Banks can give reasonable justification that they are unable to meet up with an increasing staff cost and OPEX when compared with a declining economy, the CBN would have no choice but to grant them approval to go ahead with the lay-off. Because CBN would rather have Banks Lay-off staff than have a failed Bank(s).

stagger:


What stops the CBN from granting the banks funding to keep doing what they do and ensure nobody gets laid off?

I get u bro, but u and I understand the system we are operating in this country. To be sincere, they will never do that. if just ordinary palliatives cannot be given out to the citizens then what are we saying.

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?

is that how they hire and fire workers in the developed world?

I never knew there are so many banks in Nigeria. Hopefully there won't be many layoffs

Yenefer:
What do u mean by hmmmm? majority of bankers are your people better type something good

lol

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?

AMCON is there. It wouldn't be the first time that they would be rescued.

WHAT OF IN THE UK WHERE THOUSANDS OR MILLIONS LOST THEIR JOBS.? THEY WOULD SOON DO OTHERWISE.

Don't underestimate the power of audio people in groups

Very good

Pls CBN return the billions that Access Bank donated to FG, they didnt know what they were doing when they made that donation. Money they should have used to sustain the bank and its staff rather than laying them of. Misplaced priority.!

edo3:
Hmmmmm,,finally hope dey for the access folks

Not likely. Access sacked April 30, this communication is dated 3rd, May