₦airaland Forum

Two weeks ago, Central Bank of Nigeria (CBN) and the Bankers’ Committee asked all commercial banks in the country to not lay off employees amid the coronavirus (Covid-19) pandemic. Yet, everyday, banks are firing off their staff citing "the impact of Covid-19" as an excuse.

Keep in mind that the lockdown in Nigeria has only existed for approx. 3-4 weeks. How on earth is that ample time for banks to have suffered so much 'loss' to the point of getting rid of staff?

All banks are witnessing what we call short fall in cash deposits as business are no longer moving and people are tapping on their savings to survive, soon banks go start to reduce borrowing package for some people whom dey deem unfit to borrow especially civil servants because dey know your organization can sack you and the risk we be on them