Job cuts displace workers as COVID-19 hits employers

Employers in different sectors of the economy have disengaged workers to mitigate the negative effect of coronavirus pandemic on their ventures.

Daily Trust’s findings show that most sectors of the economy are affected apart from those driven by technology.

However, at least N107.45 billion has been accessed by beneficiaries from the N1.15 trillion Central Bank of Nigeria’s (CBN’s) COVID-19 pandemic intervention funds within the last 90 days, data by the apex bank has indicated.

The data showed that close to 6,000 beneficiaries, comprising organisations and individuals, had accessed the loans so far. Reports from across the country revealed that workers have been disengaged from aviation, hospitality, banking, construction, manufacturing, media and sales and services sectors.

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