Withdrawal of licenses would lead to more job losses...or am I missing something?

GENEVA – The Federal Government, Tuesday expressed shock that employers in the financial sector, especially banks were breaching its directives to stop further retrenchment, threatening to withdraw the operating license of any bank or telecommunication company that breached its directive to stop mass sack of workers.

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, warned that government would sanction erring companies because government had a duty to protect jobs in this harsh economy. Ngige was responding to questions on alleged breach of his earlier directive to banks and other financial institutions to stop further retrenchment of workers pending the stakeholders meeting scheduled for next month.

The minister, who spoke after his speech to the ILO National Assembly, said: “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 statusquo. 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.”

: http://www.vanguardngr.com/2016/06/mass-sack-fg-threatens-withdraw-license-recalcitrant-banks-telecom-companies/

FG should go and sit down.
Can't they employ their citizens?

T

Yeye govt u take punitives economic measure like the 1trillion naira plus fine of MTN, mop up of funds within d financial sector and at the same time ask them not to sack. Are u to pay salaries n overheads for them?

Command n control economy chai! Apc/buhari shame.

He thinks he is talking to his fellow politicians. He seems short of idea on this issue & yet won't keep quiet. This isn't a ground for revocation of licence. What does he know about revocation of banking licence.

Okay

The FG have failed woefully. Create the enabling environment and things would flourish.

jokers

K

Comedian

where are we going in dis country,nothing seems to be working.but any ways I stiill dey fast drink holy communion,break bread,chop musta seed to see a better Nigeria.

Soooooo, let me get this straight - Bank X sacks 100 workers, and you respond by threatening to withdraw their license, possibly leading to a total closedown of the bank, culminating in 900 of their remaining staff members becoming jobless?

Wow!!! Buharinomics in full throttle!
An ILLITERATE will forever be an ILLITERATE!

I hope you're still enjoying your NEPA bill certificate brandishing president.

Nigerians have got to be among the dumbest iddiots on earth.

Here we go again.

Necessity is the mother of invention. People do extremely impossible things in dire situations, that said, the government needs to look into better ways on how to curb unemployment as I don't see such a threat or order to banks as something good enough.

We know the nation is in hard times but what annoys me most is how some folks rubbish the present administrations' anti corruption work. PDP had 16 years to lock all APC/CPC/ACN crooks up if they were interested in fighting corruption as they were elected and paid to do. If they couldn't do that and APC is now locking PDP crooks up, I for one don't want to hear their sob stories. So long as some crooks are getting locked up, that is progress.

Kenai:

Nigerians have got to be among the dumbest iddiots on earth.

And you are certainly the biggest of the lot!

What's tha business?

Truth be told.. Normally, Our banks are useless, they want cheap labour, they set unrealistic target, so they take opportunity of situations like this to sack people and overlabour the few ones left in the system. Go find out about all these banks sacking, some of their Executive director's take home is 6/7m per month and yet they will team up to sack an Executive trainee who receives just 150k per month or a contract staff who get 60/70k atfer several years in the system. Banks can still cope in this economy. They are lying to most people about their inability to pay staff. Let them also cut the amount being paid to the top staff. Banking sector has the most corrupt, selfish, inhumane and slaverymasters leaderships. This so called bank's management want to take virtually all the benefits. If possible, they want free labour. You don't just want to know what banks' directors get as profit sharing allowance. You may faint!

misscall247:
APC reasoning........shameless party

what do you know.

Now, this is somebody who knows what's up.

hardbody:


Thank God I quit when I did.

They still head hunted me this week, i gleefully declined. That industry is not worth it. Over hyped to say the least.

400billionman:


Are the bank directors more selfish than our politicians ? If you know what ministers take home aside their official salary which may be N800k a month, then you go relax.

You just described capitalism and it exists world over.

I will emphatically say YES! because if Banks' directors becomes politicians today.. Expect more slavery in our system of government. If not for the corruption in our government, i swear, politician cant earn more than these selfish directors.

Lol @ this guy my exact thoughts !

Re: Mass Sack: FG Threatens To Withdraw License Of Recalcitrant Banks, Others by Flexherbal(m): 9:07pm

FG should go and sit down.
Can't they employ their citizens?

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It seems Ngige is a drunkard. He wants to withdraw the licence that he issued abi....

All this Ministers self!...


Olorun ma sanu wa, ni Nigeria keh.

This govt is illiterate and funny.

A privately owned firm says it cant continue paying 10 staff, that 4 should go for the business to survive and Ngige who is being paid by govt from Niger delta oil is now teaching bank MDs how to run banks.

Oshogbo weed..

And all the munu above me see nothing good about the news.

What else do u have to do to please nigerians

It is obvious this administration has no directions. Why not employ them, if you don't want bank to sack.

1. Ordinary #18+ for NYSC and mobilizing new batch is a problem for FG

2. Close to a million applied for only 10,000 police recruitment. A slot that has already been shared amongst the who is who as usual. I only pity those been used for the cover up smokescreen screening. Reference to: NIS, SSS, CBN, etc

3. State governments are busy using casual staff to boast of employment creation. Only to sack them when they are done with their political game. Reference to: Youth Empowerment Scheme (YES), Tomorrow make a year that over 10,000 Youth in my state were sacked by Edo State Government. This is applicable to other States as well.

3. Didn't your government promised the youth millions of jobs. I thought by now banks should have even been the ones begging for people to work for them.

4. PDP brought Unemployment, Underemployment, Insecurity, etc. But APC has multiplied those by 100 and added inflation.

5. Oh, Lord why are thou forsaking this country?!

I don't think the private sector... .banks and Telecom have labour unions... I don't even think they have provision for that..


I wonder y the govt is putting it's nose in matters that doesn't concern them...if Banks can no longer pay salaries is it not better to lay off and pay severance package?

Or do salary payments come from the fgs purse

Clueless govt...smh

this is very funny, they really think this is military government, Kai obviously a minister that reasons this way, doesn't know what he is doing!

[size=14pt]This is the kind of thing that happens when you recruit a two year old to fly a Boeing 747[/size]

We need to solve Nigeria's Leadership deficit like TWO DECADES AGO!!!

Kenai:
Soooooo, let me get this straight - Bank X sacks 100 workers, and you respond by threatening to withdraw their license, possibly leading to a total closedown of the bank, culminating in 900 of their remaining staff becoming jobless?

Wow!!! Buharinomics in full throttle!
An ILLITERATE will forever be an ILLITERATE!

I hope you're still enjoying your NEPA bill certificate brandishing president.

hahahahaha wait until zombies arrive with their zombie logic hahaha passingshot Oya

I was worried about this government. Now, I am very worried.

All this people wey dey comment say mk gov shutup..una no get ppl 4 bnk or mtn that y..na salve they b

pyxon:
Your broke father is a drunk.

Hmm