Due to the harsh condition of the economy, a lot of banks have taken to laying off workers to keep afloat. In the light of this, the Federal Government has threatened to revoke their licenses.
Yesterday it was reported that Skye Bank had let go of almost 200 staff members and before that Diamond bank had also let go of a few. The federal government had warned that banks should stop doing this but some banks have refused to comply.
Speaking to Nigerian journalists at the ongoing 105th session of the International Labour Congress, ILC, in Geneva, Switzerland, Minister of Labour and Employment, Senator Chris Ngige said that the government was ready to sanction banks or telecommunication companies who flout this order.
He said “We will go a step further if they continue. We know what to do. After all, the banks have the licenses given by the government. We know what to do. They need to comply. They need to come to the negotiation table. We did (halted the spate of sack to hold a stakeholders meeting) that in the oil industry and we succeeded. Even if you are going to lay off, there is a way to declare redundancy, there is a process. Section 20 of the Labour Act says it. You must call the unions and discuss with them. You don’t just treat them as slaves in their own country and you want us to keep quiet. “We want them to maintain the
“We want them to maintain the status quo. As far as I am the minister of labour, I will protect the interest of workers; same to the telecommunication companies, they are also talking about compiling lists without discussing with anybody.”