The Federal Government recently took a major step towards the resolution of the lingering retrenchment and other major labour issues in the banking and financial institutions with a crucial meeting with the sector’s organized labour unions (ASBIFFE & NUBUIFE) declaring that “ banks and their employees must be ready to operate within the provisions of the Nigerian laws.”

According to the statement released to the Press by the Ministry’s Public Relations Unit recently, the meeting was the first of the three-stage meetings with the sector’s stakeholders. The Minister of Labour and Employment, Chris Ngige (Sen), while declaring the meeting open said, “Our journey towards the resolution of the industrial disputes in the banking and financial sector begins in earnest. You may recall the series of petitions from the organized unions in banks and financial institutions, and individuals complaining of unfair labour practices which include illegal termination of appointments, forced resignations, unpaid exit emoluments and entitlements, non remittance of union check-off dues, prolonged casualization, contract staffing and redundancy”.

Sen. Ngige gave a short history of the disputes in the sector which compelled him to intervene and declare status quo ante-bellum on May 30, 2016, directing banks to reverse all termination of the previous four months while the unions were restrained from picketing the banks, pending the outcome of negotiations. He observed that the misinterpretation of this directive led to an invitation by the Senate Committee on Banking and Financial Institutions, which agreed that the ministerial directives were proper, and legally guided after his appearance with the banks and the unions and commended his approach to the matter.

The Minister therefore reassured that his intervention was to resolve the disputes in the overall interest of all Nigerians. He expressed displeasure with the skewed observance of the laws of the land by the financial institutions and warned that the provisions of the Financial Institutions Act (BOFIA) cannot be the only law banks will comply with, to the exclusion of the laws of the country.

According to the Minister, “Banks are not only to obey the Banks and Financial Institutions Act; they must also obey the all encompassing laws of Nigeria, especially the labour laws because the banks cannot function without human beings. So, both the banks, that’s the owners and the unions, the umbrella for the workers must conform to the laws of the land that guide employer/employee relationship.”
He said the Federal Government was conscious of the nation’s steep economic indices, hence, the emphasis on saving the jobs where government was constrained to create new ones.

“The economy is technically in recession. It is therefore imperative for us as government to use various mechanisms to keep the existing jobs as we have done in the oil sector where cuts in perks and allowances especially at the upper level were deployed. We expect same in your sector,” he said.

The Minister further assured that government was not on a witch-hunt but was also prepared to ensure that all parties to the dispute obey the laws of the land, insisting that where retrenchment was inevitable at the end of negotiations, due process of law, however, must be followed.

In his response, the National President of Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFE) Comrade Sunday Salako commended the Minister for his forthrightness and dogged determination to defend the rights of all Nigerians irrespective of class. “ This is the first time, a Minister of Labour in this country, at least in recent time, will for once come out to say that the bourgeoisie that are taking we the workers for a ride in this country cannot do that again with impunity. That statement alone is a firm new direction,” Salako said. He listed unilateral declaration of redundancy, casualization, and non-remittance of check-up dues as the peak of the unfair labour practices in the sector and expressed the commitment of the union to complement the efforts of the government to tackle the problems.

Similarly, the National President of the National Union of Banks , Insurance and Financial Institutions Employees( NUBIFIE) Comrade Danjuma Musa decried the flagrant abuse of labour laws by the bank employers listing Guarantee Trust Bank, Fidelity, Standard Chartered, Stanbic IBTC as well as Daimond as topping the list of defaulting banks . He told the Minister that since his intervention, the management of the banks have resorted to hiding under the principle of “Appraisal” to give poor evaluation to workers they want to sack.



Source: http://www.trezzyhelm.com/2016/09/recession-fg-releases-fresh-n350bn-to.html

Ngige is trying now sha.. lets see if this will work out.


Anyway See what these JSS Students were caught doing >> http://www.enzyhub.com/end-time-see-what-these-jss-students-were-caught-doing-pix/

Story for the gods

Very silly if you ask me. These guys seem to have lost direction. Why would FG go into negotiations with private financial institutions to tell them not to retrench workers in a period of recession. You implemented TSA and it hit them hard.

Do you know what their profit margin is? Oya the FG should come and pay the bank workers na. So if the banks are making a loss presently, they should keep staff the way they are because the Federal Government told them to abi? Who the government epp?

It's [size=15pt]LadyF[/size] again

[size=5pt]Make I go continue my search for Skrill funds...freelancers, forexers, biko epp me. N390/$[/size]

ok

We sincerely wish to see good results from this. It shouldn't go down south like other "garagaras" so far. Naija is tired of after noise no good results

[s]The economy is technically in recession. It is therefore imperative for us as government to use various mechanisms to keep the existing jobs as we have done in the oil sector where cuts in perks and allowances especially at the upper level were deployed. We expect same in your sector,” he said[/s] funny govt. Am sorry naija

Fix the economy and there will be no need for negotiation!

Under Buhari's government, CBN has ordered all Nigerian banks to block the use of Naira credit/debit cards from being used to buy things online in $ currency....this means, no Nigerian can use his Naira debit/credit card to make $ payment online or anywhere, what a wicked government.

The trouble this will cause in Nigeria is: more unemployment as many Nigerian youths who are doing small scale business of buying things online from foreign websites to re-sell in Nigeria and in some other foreign countries can no longer use their Naira Debit/Credit card to buy things or even pay via paypal.

And this in turn has led to reduced business activities for banks, hence less profit for them and you want them not to retrench their staff but you keep coming up with useless policies that favors only you, Lai Mohammed, Aisha Buhari, Zhara abi Zaria, Hell Rufai and co, hmm


Yet, the same government claims its trying to create jobs via their virtual loan programme that will still end up in the pockets of their friends, relatives and supporters.

Seriously, President Buhari needs to consider the plight of Nigerians and resign honorably as president to enable some capable Nigerians to take over the leadership before Nigeria crashes to nothing

who has time to start ridin dis long story

Sai bubu


Nigayria for sale

I smell lies... Apc is all about lies........ Well shaaa I love this E money pix, this economy recession nob for him, ride on boss... Oluwa answer my call... Amen

Popesam1. Com n tk ur change campaign to banks too dat r struggling to survive. Am sure they ll listen if FG can take over d payment of salaries.

You took away TSA... A major source of lifeline for banks..... You messed up the FX market.... Another lifeline for banks..... Messed up mpc/mpr ratio.... Increased the operating expenses of banks through your rubbish policies..... Yet you don't want banks to sack


Wow... The dullardary in this senile old man's govt is indeed inborn... Factory fitted and has no expiry date.
Tufia

If they like, let them negotiate with the devil, 2019 will be their end.

You took money out of their coffers in the name of TSA, you suspended some of them for alleged late remittance, now you plead not to retrench. If there's no business why keep a bloated staff strength?

Good to one

how many sectors of the economy do u want to negotiate with? rather come out with friendly policies that will affect the economy positively.

That's a good move.

reverse TSA and implement a phased adoption over time.

Make una better act fast o...#FG

Things should be done gradually, removal of TSA should have been gradual and not outright, same as forex restrictions. The government actually lacks adequate planning.

People are really losing their jobs and i hope normality returns soon. It is well with Nigeria

They think is all abt chanting kworruption while dey are winch hunting opposition who still controls the workforce..

APC leaders wit promise n fail.. take them serious at ur own peril

Actually, Ngige is a medical doctor who is an illiterate of all d terms u jst mentioned

wheredemdey:
You took away TSA... A major source of lifeline for banks..... You messed up the FX market.... Another lifeline for banks..... Messed up mpc/mpr ratio.... Increased the operating expenses of banks through your rubbish policies..... Yet you don't want banks to sack


Wow... The dullardary in this senile old man's govt is indeed inborn... Factory fitted and has no expiry date.
Tufia

ok...nice one

I pray it works out, pple are losing their jobs daily.

Oh...At last. Were these guys waiting for Orunmila before now?