The Federal Government on Friday directed banks, insurance and financial institutions to suspend the on-going retrenchment in the sector.
This is contained in a statement signed by the Minister of Labour and Employment, Dr. Chris Ngige, and made available to newsmen in Abuja.
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,’’ it said.
The statement said that the decision was further predicated on the fact that the continued retrenchment and redundancy by the sector were jeopardising the outcome of the reconciliatory and mediatory processes undertaken by the ministry.

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 the first week of July 2,’’ the statement read in part.

However, Ngige advised all parties in the interest of industrial peace and harmony to maintain the status-quo ante-belum.

http://m.guardian.ng/news/fg-directs-banks-to-suspend-retrenchment/

Hmmmm

Lemme hear frm d poster below me

the poster above me is jobless

Good move by the FG to save people from losing their jobs but more importantly they need to revive the collapsing economy as many sectors are currently downsizing.

Will they help them pay salaries?

Olalan:
Good move by the FG to save people from losing their jobs but more importantly they need to revive the collapsing economy as many sectors are currently downsizing.

Nothing good about the move when FG on her part is technically retrenching.

Such orders do not subsist and so is null and void ab initio.

Giving directive no go solve this problem o.