Coronavirus: Uba Sani welcomes CBN, bankers' committee intervention to save jobs

Coronavirus: Uba Sani welcomes CBN, bankers' committee intervention to save jobs

- Senator Uba Sani has hailed CBN, bankers' intervention to save workers' jobs

- The plans to retrench bank workers have now been suspended

- The senator noted that the responsive and responsible institutions have come up with initiatives to lessen the pains

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The lawmaker representing Kaduna Central at the Senate, Uba Sani, has endorsed the swift action of Central Bank of Nigeria (CBN) and bankers committee against downsizing in the industry.

Legit.ng's regional reporter in Kaduna, Nasir Dambatta, reports that Uba Sani, who is the chairman of the Senate committee on banking, insurance and other financial institutions, made the commendation on Monday, May 4.

Senator Uba Sani made the remarks while welcoming the intervention of the Central Bank of Nigeria and the banking committee to halt layoffs in the banking sector.

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"The decision of the CBN and the banking committee to suspend layoffs in the banking sector is highly commendable and must be emulated by all institutions as we collectively navigate the uncharted course of COVID-19," he said.

Uba Sani welcomes CBN, bankers' committee intervention to save jobs

The senator representing Kaduna Central, Senator Uba Sani. Credit: Facebook/Uba Sani.
Source: UGC

Lamenting that the pandemic has had a devastating impact on Nigerian workers and their livelihoods, the senator noted, however, that responsive and responsible institutions have come up with initiatives to lessen the pains.

"It was therefore shocking to learn that some banks were contemplating downsizing their workforce," he said and described the CBN/banking committee intervention as a huge relief.

He cautioned banks against embarking on precipitate action that would shake the confidence of skilled personnel and a possible exodus from the critical industry.

"Once the sector becomes associated with job insecurity, it will be very difficult to attract bright and highly skilled professionals. This is capable of leading to loss of public confidence and instability in the system," the senator warned.

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Assuring that COVID-19 is a passing phase, Uba Sani said, "We must remain calm and be at our innovative best. Panicky measures will do us no good. Let's think and act strategically."

Meanwhile, Legit.ng had previously reported that in a bid to stop people from losing their jobs during this pandemic period, the CBN and the banks in the country agreed to shelve the planned sack of workers in the banking sector.

It was reported that this was contained in a statement from the apex bank signed by Isaac Okorafor, director, corporate communications. He said the CBN, bankers’ committee both decided to suspend lay-offs in banks.

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