Bank Chiefs agree to suspend mass sack of workers

The Bankers Committee which is the umbrella body of Chief Executives of deposit money banks in Nigeria, have agreed to suspend the mass sack of workers in their industry. The decision was taken at a meeting they had in Abuja yesterday June 9th.

Speaking to newsmen after the meeting, the Managing Director/CEO of Standard Chartered, Nigeria, Bola Adesola, said that the banks understood the economic implications of sacking anyone now and will suspend their mass retrenchment plans but will not hesitate to fire any of its worker who under-performs.

“We know what the situation is like in the country, so we are looking of the ways of ensuring that we minimise any exits from our institutions. There will always be exit as you know, there are issues of fraud and scam but, as a matter of fact, is something that we discussed in the past where the governor prevailed on the banks to minimise any exit from the institutions. So we noted the market sentiments and I am sure, going forward, it will be different. And, like I said, we must also recognise that there will be reasons why people will leave and it is not only in the banking industry, even the telecom industry had this type of situation before. But its something that we should manage.”she said