COVID-19: CBN, other banks to sustain operations

CBN Governor, Godwin Emefiele

The Central Bank of Nigeria  (CBN)  has said it will  remain open for  business  as Nigeria battles to contain the outbreak of COVID-19.

A statement signed by the apex bank’s head, corporate communications department, Mr. Isaac Okorafor, indicated that the decision was taken to further mitigate the impact of COVID-19 on the economy.

Okorafor maintained that as “ a responsible public institution  and regulator, we have triggered  our business  continuity  plans  to  ensure  that  the  Bank’s  operations  remain  largely undisrupted  at  this  present  time  when  social  distancing  has  become  key  to checking  further  spread  of  the  virus.

“We  have  also  directed  Deposit  MoneyBanks  (DMBs)  and  other  financial  institutions  to  do  same. The  welfare  and  safety  of  our  staff  and  their  families,  and  indeed  all  Nigerians, remain  top  priority  to  us.”

The apex bank’s spokesperson disclosed that  with  effect  from  Wednesday,  March  25, 2020,  till  further  notice,  only  essential  staff  of  the  CBN  Head  Office  and  the  37 branches  of  the  bank  will  be  expected  to  report  for  duty  daily.

He stated, “In  other  words, our  staff  in  non-critical roles have been directed to stay at home and work remotely, when  their  services  are  required.”

“We  have  also  directed  all  our  staff  to  follow  stipulated  guidelines  by  the  Federal Ministry  of  Health,  National  Centre  for  Disease  Control  (NCDC)  and  other relevant  health  agencies  of  government  to  curb  possible  spread  of  the  virus  in Nigeria.

“For  the  avoidance  of  doubt,  the  CBN,  in  line  with  its  mandate  of  ensuring monetary  and  price  stability,  will  remain  open  for  business  during  these  trying times” Okorafor added.

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