CBN governor, Sanusi Lamido Organised Labour has vowed to shut down the operations of Oceanic, Intercontinental and Unity Bank over alleged non-procedural dismissal of about 200 staff members by management of the banks. To this end, all customers of the affected banks have been directed to make all necessary withdrawals on or before Tuesday, January 11 , 2011 in their own interest. The two unions in the banking sector - the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and its junior staff counterpart, National Union of Banks, Insurance and Financial Institutions Employee (NUBIFIE) - which gave this warning yesterday in Lagos said the industrial action will cut across all the affected banks' branches nationwide. Briefing journalists at the union's secretariat in Lagos, National President of ASSBIFI, Comrade Sunday Olusoji Salako, said the unions have already mobilised labour and civil society allies to join forces with the workers to ensure a successful action. Salako who described the recent rationalisation exercise by management of these banks as unlawful and a violation of the existing industry- wide collective bargaining agreement said the union will use all available resources at its disposal to resist the action by management. Specifically, he said the union would make the banking environment ungovernable for management until they adhere strictly to the provisions of  collective bargaining agreement in accordance with Section (1) ( c) of the Labour Act. Salako therefore warned management of the banks that have already dispatched letters of disengagement to their staff to reverse their actions immediately or face an industrial action whose consequences may not be good for the industry and entire nation especially as the general election draws closer. Salako further warned managements who are contemplating embarking on the same action to shelve the idea adding that it would be an open invitation to unprecedented, industrial mass action. "It is poignant to note that these banks and others have institutionalised this anti-labour policy of rationalising staff on a yearly basis like a ritual. As at today, hundreds of our members are already affected by the insensitive, cruel and arbitrary staff rationalisation exercise being embarked upon by these banks while some others are warming up to follow in their nefarious steps. At the same time, we call on the banks that have dispatched unlawful letters of disengagement to our members to reverse their action immediately, while those still contemplating to embark on un- procedural and unlawful act should shelve the idea because it would be an open invitation to unprecedented, industrial mass action. We wish to warn that if the managements of Unity Bank, Intercontinental and Oceanic Bank, refused to heed this directive of the Central Working Committee of our Association, we shall have no alternative than to ground the operations of these Banks and shut down their branches nationwide until the unlawful and unjust disengagement of our members is redressed. We call on stakeholders within the industry to put requisite pressure on these Banks and, on all their customers to withdraw whatever funds they have in the Banks before we commence our campaigns in all their branches," Salako stated. Speaking further, he said while the union recognise management's prerogative to restructure its organisation up to rationalisation, he maintained that the union reserve the legal rights to vociferously defend the rights of the affected members to befitting and due terminal benefits as prescribed by law. He lamented that rather than negotiating staff benefits, employers have thrown caution to the wind and embarked on unlawful disengagement without any provision to pay the affected staff their severance benefit. He noted that the two unions in the industry have already alerted all concerned stakeholders including the Minister of Labour and Productivity, the Central Bank of Nigeria (CBN) and the Federal Inland Revenue on the obnoxious actions by management of these banks adding that so far there has been no response from the concerned group. "It is poignant to note that these Banks and others have institutionalised this anti-labour policy of rationalising staff on a yearly basis like a ritual. It is therefore, imperative to emphasise that the managements of these Banks that are reputed for this policy should concretely check and evaluate themselves to determine the success or otherwise of this annual diversionary ritual. If staff rationalisation has not helped their cause, then they should look elsewhere and formulate formidable strategy to achieve organisational goals and objectives. Pursuing the same strategy every year and expecting different result is a symptom of systemic failure on the part of the management," he added. http://www.thisdaylive.com/articles/labour-threatens-to-shut-3-banks/84595/

Organised Labour has vowed to shut down the operations of Oceanic, Intercontinental and Unity Bank over alleged non-procedural dismissal of about 200 staff members by management of the banks. To this end, all customers of the affected banks have been directed to make all necessary withdrawals on or before Tuesday, January 11 , 2011 in their own interest. The two unions in the banking sector - the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and its junior staff counterpart, National Union of Banks, Insurance and Financial Institutions Employee (NUBIFIE) - which gave this warning yesterday in Lagos said the industrial action will cut across all the affected banks' branches nationwide. Briefing journalists at the union's secretariat in Lagos, National President of ASSBIFI, Comrade Sunday Olusoji Salako, said the unions have already mobilised labour and civil society allies to join forces with the workers to ensure a successful action. Salako who described the recent rationalisation exercise by management of these banks as unlawful and a violation of the existing industry- wide collective bargaining agreement said the union will use all available resources at its disposal to resist the action by management. Specifically, he said the union would make the banking environment ungovernable for management until they adhere strictly to the provisions of  collective bargaining agreement in accordance with Section (1) ( c) of the Labour Act. Salako therefore warned management of the banks that have already dispatched letters of disengagement to their staff to reverse their actions immediately or face an industrial action whose consequences may not be good for the industry and entire nation especially as the general election draws closer. Salako further warned managements who are contemplating embarking on the same action to shelve the idea adding that it would be an open invitation to unprecedented, industrial mass action. "It is poignant to note that these banks and others have institutionalised this anti-labour policy of rationalising staff on a yearly basis like a ritual. As at today, hundreds of our members are already affected by the insensitive, cruel and arbitrary staff rationalisation exercise being embarked upon by these banks while some others are warming up to follow in their nefarious steps. At the same time, we call on the banks that have dispatched unlawful letters of disengagement to our members to reverse their action immediately, while those still contemplating to embark on un- procedural and unlawful act should shelve the idea because it would be an open invitation to unprecedented, industrial mass action. We wish to warn that if the managements of Unity Bank, Intercontinental and Oceanic Bank, refused to heed this directive of the Central Working Committee of our Association, we shall have no alternative than to ground the operations of these Banks and shut down their branches nationwide until the unlawful and unjust disengagement of our members is redressed. We call on stakeholders within the industry to put requisite pressure on these Banks and, on all their customers to withdraw whatever funds they have in the Banks before we commence our campaigns in all their branches," Salako stated. Speaking further, he said while the union recognise management's prerogative to restructure its organisation up to rationalisation, he maintained that the union reserve the legal rights to vociferously defend the rights of the affected members to befitting and due terminal benefits as prescribed by law. He lamented that rather than negotiating staff benefits, employers have thrown caution to the wind and embarked on unlawful disengagement without any provision to pay the affected staff their severance benefit. He noted that the two unions in the industry have already alerted all concerned stakeholders including the Minister of Labour and Productivity, the Central Bank of Nigeria (CBN) and the Federal Inland Revenue on the obnoxious actions by management of these banks adding that so far there has been no response from the concerned group. "It is poignant to note that these Banks and others have institutionalised this anti-labour policy of rationalising staff on a yearly basis like a ritual. It is therefore, imperative to emphasise that the managements of these Banks that are reputed for this policy should concretely check and evaluate themselves to determine the success or otherwise of this annual diversionary ritual. If staff rationalisation has not helped their cause, then they should look elsewhere and formulate formidable strategy to achieve organisational goals and objectives. Pursuing the same strategy every year and expecting different result is a symptom of systemic failure on the part of the management," he added.