₦airaland Forum

– Bank CEO’s met to discuss the issue of mass sack of bankers in the financial institution


– They agreed to reduce the spate of sack of bankers


– They however pointed out that there were several reasons for relieving bankers of their jobs.

Following a call by the federal government to banks to stop the mass sack of their workers, Bankers’ Committee of the Central Bank of Nigeria has promised to reduce the rate of sack in the financial institution.The committee made this pledge at the end of its meeting which took place at CBN headquarters in Abuja on Thursday, June 9,Mrs Bola Adelola who is the managing director of Standard Chartered Bank said the issue of mass sack of bankers was discussed at the meeting and it was agreed that banks would minimise the issue of job loss.


The committee also disclosed that banks would soon commence the National Collateral Registry (NCR) which would allow people to register and then use assets such as cars, refrigerators, mobile phones as collateral for loans.


Leadership reports that Adesola said that although banks were aware of the economic situation of the country, there were several reasons bankers could be relieved of their jobs.“On the recent news item on retrenchment, that we also discussed; we touched on it and obviously banks understand the implications of people not being in employment."

We know what the situation is like in the country.“And so we are looking at ways of ensuring that we minimise many exit from our institutions. There will always be exit as you know because there is fraud and so on and so forth. “People will exit institutions and as a matter of fact it’s something we discussed in the past where the governor prevailed on the banks to minimise any exit from the institutions.“So we’ve noted the market sentiments and I’m sure that going forward it will be different.”Other members of the committee present at the media briefing were Mrs Tokunbo Martins who is the director of banking supervision of the CBN; the managing director of the United Bank for Africa, Mr Phillips Odouza and the managing director of Union Bank of Nigeria, Mr Emeka Emuwa Martins said that the rate of Nigerians that were included in the financial sector has risen to 60.5 per cent and that the plan of the committee was to make sure six million additional people were captured into the financial system before the end of this year.“As at today, we have a financial inclusion rate of 60.5 per cent, and you will recall that the target is that by 2020 we should have 80 per cent of the population included.“So the CBN has agreed targets with the commercial banks and also Microfinance banks and by the end of this year, 2016, we hope to increase the inclusion rate by eight per cent.


"Meanwhile, the minister of budget and national planning,8Senator Udo Udoma, urged banks not to sack their workers and said when the economy picks up again, the banks would need those workers.

WorldChanger7:
Good morning all,

On the recent news of banks to reduce the mass sack of employee is definitely not necessary "if only" the banks will embrace innovative ideas to increase liquidity and access to credit through deposit mobilization.

The un(der)banked population still at 64% and they control over 75% of daily retail transaction but ends up in the hands of the informal sectors.

The solution lies with innovative solutions through more efficient distribution channel and better value proportion such as credit facilities to those at the bottom of the population pyramid.

https://www.nairaland.com/2984078/financial-inclusion-nigeria-challenges-banks

SurewayBookings:
Ok seen, so we should all be expecting some form of charges from these banks because they have to pay salaries.