rockbase360:


"ALLOW"? A private business doesn't need permission to hire or fire anyone. It's sad that the average nigerian is clueless about how the free market works. The military mentality has destroyed the fabric of the nigerian society.

read between the lines with your brain not only your eyes.the act is done according to the labour law of Nigeriam.besides,its a suspension .

[quote author=Cutehector post=46256160]Gbam! How...na FG get d. Bank

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

Please stop calling Ngige short devil! I hate APC with passion but I still love that man called Ngige! So please channel your name calling to the dullard in Aso Rock.. Thank you...

fkj950ax:


Unemployment is NOT part of an economy.

Unemployment is an EFFECT of bad or weak economic policies. And it's subject to global trends

Banks are private institutions that government can't interfere in their Issues. HR for that matter...

the labour minister has passed his verdict. End of talk. shi ke na

oluwato69sin:
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

Stop being sentimental! This is not the right way to address the problem.

The banks are privately owned and they directly know where the shoe pinches. The economy is extremely close to a recession and companies are folding up left, right and center.

What government must do is to address the underlying problem which is the horrid state of the economy. left prostrate by Buhari's bad economic policies.

Buhari's means we'll but his economics is lamentable

[quote author=noblegrex post=46258279]read between the lines with your brain not only your eyes.the act is done according to the labour law of Nigeriam.besides,its a suspension .[/quot Then the Law is senseless!

HungerBAD:
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.

Your head dey there but this one you're hungry...hmmm

[quote author=grandstar post=46258394][/quote]uhm hmm. Na you sabi that one o.judgement has been passed

What about the ones they already sacked are they going to call them back? The truth is that some banks are not making profit becos FG has removed their lines of income. Like zero COT, littlet or no charge on ATM usage zero Cot on govt accounts. Etc, as such, some of them want to use cheap labour.

HungerBAD:
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.

I cannot agree more. However, there are terms of disengagement. For a long time, our banks and financial institutions have abused their workers, firing and hiring as they please. The labor law makes provisions that are not followed 9 times out of 10.

So, yes, while banks and financial institutions would sack based on business reasons viz a viz profitability, all mass retrenchment/sacking should be carried out only after due review by government to ensure transparency and due process.

Are they going to provide bail out for them, such directive can only work for banks like keystone bank and maybe those banks that acquired the other bridge banks that is if they are still owing AMcon. A privately owned bank paying their tax and operating under the tough policy of the govt is not obliged to obey such horrendous directive unless federal govt will be paying those staff they want to lay off.

Another animal talk from a tyro minister. Instead of them to do the right thing they are forcing they not to sack, are they the once paying their salary of generator cost and other operating cost. Mtcheeeew

HungerBAD:
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.

But the government can use tax payer money to bail them out whenever their directors mismanage people deposit.

There is no problem ,if the FG will be paying the salaries of redundant bank workers .

hmmmmmm, I don't think fg has any power to do this, however, there are lots of laws in our land that permits the fg to intervene in any sector that threatens the economy, that's why banks will also accept bailout from fg.

Hmm very funny, FG orders, is this military Era, FG has no control over them, or they want to give them bail out funds too They should plead with them, not a forceful thing.

onatisi:
There is no problem ,if the FG will be paying the salaries of redundant bank workers .

Thanks.
How did we vote this DullardPoo as our president

R.etard!...where were u when fashOLE, (SAN) dis-obeyed court orders not to increase electricity tariffs?...where's the 3million jobs ur insincere party promised to create in a year?....nonsense!

Kai, I laf wan tear my dross...


In a Government of a cowardly general who ran into his toilet because a mere group of militants threatened him...
Everything is by force
No thinking
Confused
He does not even know where his boundary lies

And his ministers sef.......


O dikwa egwu ...

oluwato69sin:
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

There is an economic down turn. Partly, external (Oil), partly internal (poor decisions). Banks are sacking because they really don't get business like before. Budget has not even started being implemented. I know many small businesses who have not done a single job this year. What are they banking? TSA accounts (about 2 Trillion) was within the banks. It was not missing. That probably contributed 20% to bank deposits. They use this money to stimulate growth through direct and interbank borrowings. TSA is a good thing. If PMB had a good economic team, it should have been delayed due to drop in crude oil prices. The process should have also been eased. Not one big fell swoop. The banks even tried keeping staff this long. Is this the government we want? No strategic thought on how to stimulate growth in this situation?It's like you failing to study for an exam, then you fail and start threatening your lecturer he must pass you. THe TSA is currently not creating new jobs. It's just lying idle. I suggest the interest made from TSA (if any) in CBN should be used for welfare for those that lost their jobs. What do you think?

HungerBAD:
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.

Really? Banks are not owned by government, but they know how to seek for intervention funds whenever they are at the verge of being collapsed.

Tell me the banks which could have survived the first economic meltdown if not because of government that factored in their indebtedness.

Oilandgas1:
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

by assetman

Its the treasury single account popularly called TSA that is causing all this mayhem,it will be difficult for bank to keep their staff with that regulation.........if corruption must be eradicated there must be sacrificial head to go for it

i laugh in taiwan e be like chris ngige no sabi or don forget him work. That order is DOA na only CBN him fit give that order to.

That is not realistic , you cant tell me to suspend sacking my staff if I dont have money to pay their salaries.

anonimi:


Thanks.
How did we vote this DullardPoo as our president

This is the first government that will do a census on animals and chickens in Nigeria. The point is they never had any plan or set objectives ,they only wanted power and the access to the nations vaults but unfortunately now the global economic climate isn't favouring the nations vaults. This government simply has no idea about what the Nigeria problem is or how to tackle them

HungerBAD:
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.

For ones my brother you have reasoned like someone who is not hungry

Kudos to that.

Is the government going to pay the staff on behalf of the banks?

If not, what right do they have to halt the retrenchment?

Very stupid statement.

If the economy was good, would the banks retrench staff? The FG is acting like the banks are doing this because they enjoy putting people out of work.

This is borderline ridiculousness!! Wen this silly government propagated n implemented policies that wer detrimental to the financial sector their myopic minds dint predict it was gonna hv an adverse effect on the balance sheets of this banks thereby reducing their profitability n increasing their nid to reduce workforce to stay afloat.. The banks as capitalist r just trying to survive n u can't fault them

Senseless government. How do you order private companies not to carry out their own administrative duties that they hope to carry out,in other to stabilize their internal operations,when your powers are only limited to regulatory policies? Govt doesn't have the powers to order private companies not to sack anybody;this minister should stop talking like all Nigerians are idiots. Nobody is happy with the sacking and retrenchment but it's better the government keeps quiet,if they have nothing sensible and meaningful to say. How on earth did we get these kind of people to rule over 170million Nigerians? This is pathetic!

A very silly directive from the government...
Why don't we address our very weak/porous labour laws for starters?

You don't just joke with people's life/careers by making cheap political statements.

Some wanabes said its a "good move", hmmmmmn, una sabi fall hand ehnnn. Can govt or anyone for that matter tell an employer who can no longerbpay his staff salary to stop? Think dudes, this is another charade, a false front that cannot be established.........
Govt better allow banks to hoard some of d TSA money or risk massive retrenchment........not "ordering" this and "ordering" that.

This further shows that our president certificate was forged

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

Come on! U should understand that when external factors have significant negative impact on an organisation. It is normal for them to take some drastic measures for them not to go into administration. Mr president is clueless about that. Na wa for U o