May Almighty God help us out in this current helplessness situation we currently find ourselves in now amen

naptu2:


Question, what is the bankers committee?

In banking ethics CBN acts as lender of last resort to the bankers. In this case it has perform it fundamental function to safe the banks of distress.

Dropped of course. Reabsorbed to where? Other branches are already fully staffed. Marketers with large accounts are the exception. Operations staff will definitely have to go. So in branch, essential staff are the high flying marketers. Any other person is redundant at that point. Again, you need to think of work as in providing real tangible value, critical to the business.

Investnow2017:


If a branch is shut for instance what happens to the staff in the affected branch? Re-absorbed or dropped?
.
.

uruba23:

Well the ripple effect would be worst, it would take us deep into recession. I trust the judgement of Governor Emefiele and my beautiful sister from Niger state Aishah Ahmad. I have listened to this two personalities and I know they have the best interest of Nigerian at hand.They are things I would have love to write, but running an economy is like playing a game of chess,so it is better to keep quite.

give suggestions how to cut that is what i need from you not praising the cbn governor and MOF

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?

No mind CBN/Bankers committee, they are doing this press release just to douse the tention and the backlash access bank is getting at the moment,
However, CBN does not have any right/power to dictate the number of employees at any time in a bank...

Lets wait and see how things unfold.

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?

Actually, they banks are not "business establishments capable of making and enforcing their own decisions as they deem fit in order to remain in business." The CBN, along with several other bodies (like the Federal Ministry of Finance, NDIC, CAC, etc.) all serve as regulatory bodies, to oversee the affairs of banks, in Nigeria. For more info, you can search for these things on Google or go to the CBN website.

loswhite:
How do you know banks are not making income? I'm sure you are not aware of the last quarter results of most bank... You are not smarter than CBN and the bank committee

That was before the corona virus and lock down. Banks make most of their income from customers.

othermen:
Very reasonable. We will remember those who stood by us and those who didn't. Mr Wigwe could give one or two billion naira for publicity, then throw under the bus those who have given their lives to the realisation of his dream. In saner climes, government provided palliatives to businesses so they can float, but here, folks are just extremely about themselves; not providing such palliatives to the people, or even their employee but to the government, a government we all know don't care and then what do you do afterwards? Take away the livelihood of thousands of your employees in a period they cannot possibly get another employment or find another means of survival. But glad the government could show this time they care, about us and our survival. Again, very reasonable from the CBN. Pls continue down this path.

wigwe is a useful idiot

Queenmark:


That was before the corona virus and lock down. Banks make most of their income from customers.

so since the pandemic have you stopped using your mobile app? Have you stopped using your pos? Have you stopped using your ATM card? How do bank make money from customers? Do you think it is when they see your beautiful face at the branch? No doubt there is economic downturn but to understand better you need to need to study some basic principles of economics and understand the role of Government (CBN) in all of these Businesses

This is commendable.

This man's signature has anyi-fogery.

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?

Bankers committee is made up of banks executives

Go and call police for CBN na oga. Since you are displeased with their act.
Seems you were pleased with the fact that banks were laying off members of their staff.

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 know very little about banking. So keep mute please.
The banker's committee is made up of all banks CEO's, so they know better.

Queenmark:


That was before the corona virus and lock down. Banks make most of their income from customers.

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?

Regulate becus of abusive of privileges like this.

bestman09:


Hope it will be implemented to the full as some of these bank executives behave as if they are above the law. Those who were already sacked should be absorbed asap.

For Nigeria bank abi for jand bros this is nigeria sacked cannot be unsacked xpecially bank.

God bless the initiator of this action, I was wondering in the morning how you donate to the COVID 19 relief package but come back home to retrech your workers

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?

Who. Is this one again. What do you think cbn should do.

oseluck:
You know very little about banking. So keep mute please.
The banker's committee is made up of all banks CEO's, so they know better.

Can you be more matured when you talk to people? We are not fighting. There is no need to be hostile.

Do have a good night rest.

This is a pleasant development.

Tpave:
Very correct guy

What exactly is your point? That they should keep sacking people?

The signature alone look like thiefing signature

Wow.
CBN una head dey there.

2loadedguy:

What exactly is your point? That they should keep sacking people?

Read that guys comment very well

How many times?


Them no go listen


Silent sacking for frivolous reasons will start

It is very easy to bring policy but difficult to implement ,CBN must must follow up with this.

Corporate2020:


Go back to the streets and continue your Agbero work.

boys are not smiling!

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?

People do not understand what is going on. Investors look at these draconian interventions. While we want banks to keep staff, what help has CBN solicited for commercial banks from FG to cushion COVID-19 impact?

If CBN could offer to help commercial banks pay half the salary of 50% of full salary of 30% of their employees for 6 months, that would be a practical step.

If banks must retain staff they cannot afford, it means cancelling dividends. Investors will sell up and leave. That can crash the banking sector that makes the bulk of of NSE.

Mannylex:
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).

nice one, CBN and bankers committee has said noting here. they(CBN) are only saying get approval before u sack works and noting more.

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?

Don't mind them, Nigeria is the only country that Govt parastatals and agencies doesn't really have jurisdiction.
Nigeria police force will do the work of even road safety, VIO, etc

abu12:


nice one, CBN and bankers committee has said noting here. they(CBN) are only saying get approval before u sack works and noting more.

Approval for running your business how you want?
It's like telling a business man in Alaba Mkt not to reduce the number of goods he buys when he doesn't have enough money to buy as much as he used to.

PRECIOUS14482:
Thanks to CBN...I reported this issue to CBN, EFCC and Ministry of Finance and Budget on Friday via twitter.

You didn't include Nigeria Labour Congress. Why?