The fall in the value of the naira, may soon start taking its toll on the banking sector as lenders may axe jobs to cut costs, especially on pay cheques.
Already, some workers in the banks have started looking inwards, exploring what they described as option B should the unexpected happens.
Some of them said economic realities are negatively affecting the bottom line of the lenders, fearing that their jobs were on the line.
Confirming this development, President, Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), Mr Olusoji Salako, said banks would look at what they could do to reduce their expenses, adding that job loss would be one of the first steps. He pledged to ensure that the banks follow due process in laying-off their workers and paying them off.
