FG to withdraw license, sanction banks who fire staff

The Federal Government has threatened to withdraw the operating license of any bank or telecommunication company that breaches its directive to stop mass sack of workers.

As a result of the spate of retrenchment of bank employees, the government had last week, directed employers in the financial sector to stop further dismissal of staff.

Subsequent to the government’s directive, Skye Bank on Monday, June 6, dismissed hundreds of its staff.

Minister of Labour and Employment, Senator Chris Ngige, has now revealed that government would sanction erring companies.

He made this known on Tuesday, while speaking to Nigerian journalists at the ongoing 105th session of the International Labour Congress, ILC, in Geneva, Switzerland.

“We will go a step further if they continue. We know what to do. After all, the banks have the licenses giving 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 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.”

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