The federal government has directed banks, insurance and financial institutions to suspend plans to sack workers in the sector. Minister of labour and employment, Chris Ngige in a statement said; “Following spate of petitions and complaints from stakeholders in the banking, insurance and financial institutions, I hereby direct the suspension of the on- going retrenchment pending the outcome of the conciliatory meetings in the industry,” “This is as a result of the apprehension by my office of the various disputes in the sector in accordance and in compliance with the provisions of the labour laws of Nigeria. “In this wise, all the retrenchments and redundancies done in the last four months and all proposed ones should be put on hold pending the outcome of the proposed stakeholders’ summit for the banking, insurance and financial institutions’ employers and employees, slated for July 2.” The statement added that the continued retrenchment and redundancy by the sector were jeopardising the outcome of the reconciliatory and mediatory processes undertaken by the ministry.


https://www.thecable.ng/breaking-fg-orders-banks-not-sack-staff

Good move there.....







Good morning Seun, lalasticlala, moderator and distinguished men and ladies of Nairaland.

HAPPY WEEKEND to you all.


FTC! #Seun must give me weekend award#

But can they really stop these banks if they(banks) want to sack?

I don't think so

Gbam! The power of the Federal Government

I don't know how true this news is.

But in a democratic setting,the Federal Government cannot interfare in the free market.

The Banks are not owned by the Government,and as it is obtainable all over the world,the Government plays a regulatory role and nothing else.

The Government cannot dictate to banks on who to sack or not.

Good move

This is laughable.. Big time laughable. Even if I don't like how people are been retrenched, I can't help but wonder how the government expect the so called banks, insurance and other financial institutions to keep up with holding on to employees when they don't have the financial wherewithal to keep up with them

They should rather coarse state government to stop sacking workers instead because most of these financial institutions are private owned and are out to make profit

I advise the FG to rather provide alternative job opportunities for the Nigerian people which America is currently doing in the agriculture sector which just added 30,0000 job in one month alone rather than stopping the banks from down sizing if thier private business is not yielding profit !!!!

Very laughable. How can they dictate how they run their businesses when they haven't created enabling environment for their businesses to thrive.

Some people will still come to this thread and spit hateful rubbish ...when the thread that workers were sacked, same idiots government should do something, now you're shouting this is not military rule, even if they transfer all Nigerians to the u.s and transfer Americans here, we can never be satisfied

Hope they'll provide money for the banks to pay their over bloated and redundant staffs.

Although I'm against the incessant sacking of staffs by these visionless banks but the earlier they prune down their huge salary overhead the better for the profitability of the banks.

In One year, We will create 3m jobs, and in one year they successfully did that but in opposite direction!

Sorry for all those that loose their jobs! I just hope they didn't vote APC to be sacked later.


Good Morning Nigeria!

Dr Ngige! good moves Nigerians are watching you...

Dis government love media so much

ok

Any alternative?

Is it the FG that is paying their staff salaries that They should stop them! Nawah for them oooh..

Buh y all dis sacking?

a government at war with itself

Imagine

We are not in the military era. You can't order anyone not to sack. You make the environ conducive for business and watch the magic that happens. Where's the yearly 3 million jobs promised?

This is funny. How can government order private businesses on how they should run? Government should be coming up with policies that should keep people in their jobs, and not ordering banks, except they want to start helping banks pay their staff.

Another big miss from this government.

Hope they will not deny it tomorrow .

As if the Government will be in charge of the salaries

Nonsense,is it FG that wants to help them pay salaries?

Create an enabling environment, and see business blossom.

Will the FG help the banks pay the workers' salaries?

What a caricature of governance. W I'll the federal govt now start paying them for the banks?

I hope so. Anyway, it is well.

Last I checked, commercial banks are not govt companies. What jurisdiction does the federal govt have as regards human capital in banks, na dem dey pay salary ni?

government of orders!! short man devil ngige thinks this is military rule will orders pay their salary? rubbish!!!

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