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CBN speaks on shutting down operations nationally over COVID-19 pandemic

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The Central Bank of Nigeria (CBN) has said it will not stop its operations at its headquarters in Abuja and the 37 branches of the bank across the country during the COVID-19 crisis.

In a statement issued on Wednesday, the apex bank said only its essential staff will be expected to report for duty daily.

The bank said it was aware of the current impact of the coronavirus disease on the global economy coupled with efforts by the Nigerian government, including partial lockdown in some states and at the federal level, to check the spread of the virus in the country.

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“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 Money Banks (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. Consequently, 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. In other words, our staff in non-critical roles have been directed to stay at home and work remotely, when their services are required,” the statement said.

Continuing, the apex bank said, “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.”

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