COVID-19: Union to resist any plan to sack bank workers

List of Nigerian banks USSD short codes for mobile transactions
List of Nigerian banks USSD short codes for mobile transactions

COVID-19: Union to resist any plan to sack bank workers – THE Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has kicked against any plan by any commercial banks to sack their workers because of COVID-19 pandemic.

Speaking with The Nation, its National President, Comrade Oyinkansola Olasanoye warned that any bank that sacks workers will face the repercussion.

She said critical sectors of the economy needed a viable and modern collective agreement, coupled with the government having a social insurance system in place for Nigerians, among other issues.

She said: “I am not expecting any bank in Nigeria to lay-off staff. However, there will be effect on the profitability of the banks and there are going to be effects on people that took loan because they cannot go into production.

“Although the Federal Government has announced that there should be reduction in interest rate for people that have loans, but now we are not talking about interest rate but production in order to have the ability to pay back.

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COVID-19: Union to resist any plan to sack bank workers

“When we look at all these, it is going to affect production, affect the exportation of our crude oil, and the importation of petroleum products very soon, because when you can’t export, you can’t import too and there are people that most of the raw materials they use are imported.

“I know it is going to affect the banks because many of these companies are on one loan or the other, and the only loan the Central Bank of Nigeria can specifically ask is interest rate to be reduced on are the loan that is directly sourced from them.

I could see that it will not be immediate, but at the end of the year, there may be job loss, because when it comes to the profitability of the banks, it is going to be very low.”

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    LAVITA TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

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    You pay directly to us and we credit you directly

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    3. *Comfortable with being broke*
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    6. *Always waiting for someone else to succeed first before joining… *when they can be the successes themselves*
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