Curtail retrenchments in banking sector, Chamber urges

The Abuja Chamber of Commerce and Industry (ACCI) has urged the Federal Government to take proactive steps to curtail retrenchment of workers in the banking sector.

This is contained in a statement issued in Abuja on Monday by the President of the chamber, Mr. Tony Ejinkeonye.

It said the current retrenchment in some Nigeria Money Deposit Banks could be blamed on the operation of the Single Treasury Account (TSA) policy of Government.

The implementation of FG’s TSA policy has left banks with severe liquidity problems, causing the financial houses to cut down on their workforce, so as to remain in business.

We call on the government at this time not to play politics with job cuts in the banking sector, as full employment remains the topmost desire in the list of macroeconomic objectives of any government.

We are urging the government to take urgent steps at responding to this sudden economic situation, rather than statements that may not yield affirmative results’’.