ultron12345:
Rubbish
Banks are private businesses which depend on performance to make profit to pay their staff, not government agencies which do nothing and receive allocation at the end of the month.

They want to infest the performance-driven private banking sector with their useless, unproductive, redundant and incompetent civil service attitude.

So if staff are misbehaving or unable to meet performance target, the bank can't sack them? They should keep paying incompetent and unproductive staff?

Rubbish
I trust the banks will fight this or it will just be another paper law that wouldn't be enforced.

Anyone who can't perform should be booted out.
If the bank can't pay you any longer, then it's better you're sacked than to keep you and be owing you salary for months while tarnishing their reputation.

In fact, the government civil service should be copying these banks. Every month, there should be Performance Review for in all government offices for all staff. Anyone unable to perform should be sanctioned and if he/she continues, should be booted out and more productive people employed.

No wonder they like government work, where they earn money without adding value, where they enter office by 10am, gist with their colleagues till 12pm while using their non-chalant attitude to frustrate the people their supposed to provide services to, then sleep till 2pm when they'll begin packing their bags to leave before 4pm. And at the end of the month, office will receive allocation and staff will receive salary for doing nothing. I've always said, the Nigerian Civil Service is the largest welfare scheme in this country, where free money is shared to unproductive people.

You don't know what you are talking about
Have you worked in a bank before?

You really think an "unproductive" person will survive 3 months in the bank?
You are TRIPPING


The banking environment is not like other private sector organisations.
What is happening there is pure and wicked exploitation

This is long overdue, and I know banks don't mess with CBN. In fact, adherence to this, I am sure, would be high, but the resultant effects will most likely be in favour of the banks' full staff and not the outsourced viz. contract staff. My major concern is the poor takehome of banks' outsourced staff. Can't CBN do something about this? These less fortunate staff are the ones doing the most jobs but earning the least pay, and DMBs for decades had treated them unfairly.

ultron12345:
Rubbish
Banks are private businesses which depend on performance to make profit to pay their staff, not government agencies which do nothing and receive allocation at the end of the month.

They want to infest the performance-driven private banking sector with their useless, unproductive, redundant and incompetent civil service attitude.

So if staff are misbehaving or unable to meet performance target, the bank can't sack them? They should keep paying incompetent and unproductive staff?

Rubbish
I trust the banks will fight this or it will just be another paper law that wouldn't be enforced.

Anyone who can't perform should be booted out.
If the bank can't pay you any longer, then it's better you're sacked than to keep you and be owing you salary for months while tarnishing their reputation.

In fact, the government civil service should be copying these banks. Every month, there should be Performance Review for in all government offices for all staff. Anyone unable to perform should be sanctioned and if he/she continues, should be booted out and more productive people employed.

No wonder they like government work, where they earn money without adding value, where they enter office by 10am, gist with their colleagues till 12pm while using their non-chalant attitude to frustrate the people their supposed to provide services to, then sleep till 2pm when they'll begin packing their bags to leave before 4pm. And at the end of the month, office will receive allocation and staff will receive salary for doing nothing. I've always said, the Nigerian Civil Service is the largest welfare scheme in this country, where free money is shared to unproductive people.

And you are sure you made sense? So you think mass retrenchment is based on performance?

[s]

itsme01:



have you gone through financial reports of this banks and the profit after tax they declare each quarter... a little staff welfare isn't going to hurt them

[/s]

Okoroawusa:
Banks like contract staff die

Na cheap labour na.

ultron12345:
Rubbish
Banks are private businesses which depend on performance to make profit to pay their staff, not government agencies which do nothing and receive allocation at the end of the month.

They want to infest the performance-driven private banking sector with their useless, unproductive, redundant and incompetent civil service attitude.

So if staff are misbehaving or unable to meet performance target, the bank can't sack them? They should keep paying incompetent and unproductive staff?

Rubbish
I trust the banks will fight this or it will just be another paper law that wouldn't be enforced.

Anyone who can't perform should be booted out.
If the bank can't pay you any longer, then it's better you're sacked than to keep you and be owing you salary for months while tarnishing their reputation.

In fact, the government civil service should be copying these banks. Every month, there should be Performance Review for in all government offices for all staff. Anyone unable to perform should be sanctioned and if he/she continues, should be booted out and more productive people employed.

No wonder they like government work, where they earn money without adding value, where they enter office by 10am, gist with their colleagues till 12pm while using their non-chalant attitude to frustrate the people their supposed to provide services to, then sleep till 2pm when they'll begin packing their bags to leave before 4pm. And at the end of the month, office will receive allocation and staff will receive salary for doing nothing. I've always said, the Nigerian Civil Service is the largest welfare scheme in this country, where free money is shared to unproductive people.

Oga this banks declare billions in profit at financial year end still mass sack people anyhow.

[s]

itsme01:




They would simply keep hiring disposable Temporary or Contract staffs... CBN did something proactive and must be commended .. but that Yeye man called Chris Ngige needs to wake up as a Minister of labor and restrict contract staff and employment probation period to only 6 months, after 6 months a Temporary Staff must get an actual contract of engagement

,

[/s]

Watch as dey offload staff in 3s

ultron12345:
Rubbish
Banks are private businesses which depend on performance to make profit to pay their staff, not government agencies which do nothing and receive allocation at the end of the month.

They want to infest the performance-driven private banking sector with their useless, unproductive, redundant and incompetent civil service attitude.

So if staff are misbehaving or unable to meet performance target, the bank can't sack them? They should keep paying incompetent and unproductive staff?

Rubbish
I trust the banks will fight this or it will just be another paper law that wouldn't be enforced.

Anyone who can't perform should be booted out.
If the bank can't pay you any longer, then it's better you're sacked than to keep you and be owing you salary for months while tarnishing their reputation.

In fact, the government civil service should be copying these banks. Every month, there should be Performance Review for in all government offices for all staff. Anyone unable to perform should be sanctioned and if he/she continues, should be booted out and more productive people employed.

No wonder they like government work, where they earn money without adding value, where they enter office by 10am, gist with their colleagues till 12pm while using their non-chalant attitude to frustrate the people their supposed to provide services to, then sleep till 2pm when they'll begin packing their bags to leave before 4pm. And at the end of the month, office will receive allocation and staff will receive salary for doing nothing. I've always said, the Nigerian Civil Service is the largest welfare scheme in this country, where free money is shared to unproductive people.

Sacking of 1,2,3 staffs for underperforming is understandable, not the mass sacking of over 1000 staff by first bank last year. After they have spent more than six years, some even nine years and they pay them little of noting as severance package. It is bad.

Commercial banks will continue to sack as long as they are casual (contract) staffs. It is now a routine for bank like firstbank that sacked over 1000 staff who have spent more 7 years in 2017 and over 1000 in 2019. All they want is cheap labour. Nonsense.

Finally, something meaningful.

They would still explore the loop holes

Oh

I would never work in any Nigerian commercial bank even if they will pay me a million naira monthly

They will resort to sacking 3 or 4 every month.

itsme01:




They would simply keep hiring disposable Temporary or Contract staffs... CBN did something proactive and must be commended .. but that Yeye man called Chris Ngige needs to wake up as a Minister of labor and restrict contract staff and employment probation period to only 6 months, after 6 months a Temporary Staff must get an actual contract of engagement

,

So we even have minister of labour sef, wow

Excuse me pls. What's the basis for 5 ? is it 5 at a go or per day, month or year ? This must be clarified because if 5 is the limit for approval then banks can decide to sack 4 at once as many times as possible.

This CBN is just talking nonsense. First you block all sources of revenue to banks and then you say you cant sack more than fove staff without their approval

Will they provide the funds to pay them?
If they are providing any cushioning effect or incentive they should say so.