Project Materials

EXAMINATION OF COVID-19 SAFETY COMPLIANCE LEVEL IN THE BANKING SECTOR

ABSTRACT

This study examined the extent of covid-19 safety compliance in the banking sector, utilising First Bank plc and Access Bank plc in Asaba, Delta state as case studies. The study’s specific objectives were to evaluate the various established covid-19 safety preventive methods, research the various covid-19 safety measures that banking sectors follow, and identify the level of covid-19 safety compliance in Nigerian banking sectors. The study used a survey descriptive research design. The survey generated a total of 137 valid replies. The data collected and examined revealed that the banking sector has a high degree of covid-19 safety compliance. As a result, the report recommends that the banking sector continue to rigorously comply to the government’s covid-19 safety measures in order to safeguard the safety of bank employees and clients. In addition, the government should form standby security and task force teams to ensure that the country’s banking sector adheres to COVID-19 pandemic preventative measures.

Chapter one

INTRODUCTION

1.1 Background of the Study

It goes without saying that the new coronavirus has had an impact on countries’ social, political, and economic sectors. Ironically, financial institutions, a sensitive segment of the economy, are among the most vulnerable to the Covid-19 infectious disease while providing financial services to their clients and consumers.

The banking sector is an industry and a segment of the economy dedicated to holding financial assets for others and investing those financial assets as a leveraged approach to generate additional income.

In unusual times, it is expected that management, staff, and customers follow established safety guidelines in order to prevent the spread of the Coronavirus.

Coronavirus disease 2019 (COVID-19) is a recently discovered disease caused by a highly contagious novel Coronavirus that mostly affects the respiratory system. It was originally spotted in Hubei province, China, in December 2019.

On March 11, 2020, the World Health Organisation (WHO) declared the disease a global public health emergency (UNICEF 2020). The condition is clinically characterised by fever, cough, difficulty breathing, and other flu-like symptoms such as runny and stuffy nose, sneezing, and sore throat.

In most cases, the disease manifests mildly to moderately, but it can cause serious consequences and/or death in some sensitive people, such as the elderly and those with underlying medical issues.

According to existing information, the COVID-19 virus is spread between people by respiratory droplets (especially coughing)

. Another mode of transmission is direct contact with an infected individual or indirect contact (touching a surface or object contaminated with respiratory secretions) followed by touching one’s own mouth, nose, or eyes.