COVID-19: CBN, Other Banks To Sustain Operations

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.