₦airaland Forum

dfrost:
Thanks for the promptness in replying. What of points 1 and 3 raised?

Answered 3 already. As for num 1, if u read the news lately, you will see the bank have agreed to stop the sackings, as CBN and other stakeholders had a meeting with them.
You can read here http://tribuneonlineng.com/banks-agree-to-halt-mass-sack
This is the first time the government is taking proactive steps to stop this kind of mass sacking trend.

dfrost:
koboko69 I concur with all your assertions but look at things from the other side of the divide too:

1. Has the government protected the rights of the employees ever since even when Labour intervenes? Do you think of there was a case where the government protected, people won't tap into such and use that as a precedent to use their rights?

2. What ever happened to dialogue instead of threatening?

3. Of course Ngige must have seen this coming so proactive measures of holding town hall meetings with stakeholders should have been the best option. What do you think?


Before answering, please keep an open mind. I'm not a politician nor partisan.

The option was dialogue was already opened before. The minister made the directives that sackings be suspended and negotiations should go on first, not up to a week after another bank announced laying off staffs. That was what occassioned the threat. Read Ngige's statement again. This as been going on in the past, but no minister had ever taken any action. Ngige should be applauded for this.

grandstar:
Do you know that remittances brought in $21b in 2014?

Oil may bring in the bulk presently but it has to be appropriately priced or else artificial scarcity of the sort that is happening now will occur.

Many oil exporting countries like Russia and Columbia have seen massive falls in the value of their currencies following the crash in oil prices. They are not experiencing dollar shortages because they accepted market realities.

Even super prudent Norway , a country whose budget will balance if oil hit $20 a barrel saw a 26% reduction in the value of its currency.

Even Canada with a buoyant oil sector and we'll diversified economy saw the Canadian dollar go from parity to the dollar to 1 US $ buying 1.30 Can $.

When your forex earnings are going down, your currency will naturally depreciate.When there is a massive influx, it will appreciate.

Just like the mathematician does not determine 1+1=2, likewise you do not need the IMF to tell us the obvious. This is simple economics. Even the Hausa forex traders know this.

Some OPEC countries have devalued their currency, how exactly has it helped their economy? Hmm, which remittances brought $21bn? If the government raked on $21bn asides oil money in 2014, Jonathan has a billion questions to ans

In b/w do u know the fx reserves in the countries u mentioned?

Nigeria didn't really have dollar shortage when oil fell during Yar'Adua's reign, why....ans is a robust foreign reserve still strong enough to sustain a 15months import needs of Nigerians.

grandstar:
Do you know there is $20b in private dormicillary accounts in Nigeria unused?

Do you know there are billions of dollars waiting to enter this country once the currency is devalued?

Nobody is ready to sell forexat 199 when it's 350 at the black market.

My friend who exports lead stopped the business because he would be forced to convert the forex earned at 199.

I wanted to start exporting kolanuts this year but the 199 rate discouraged me.

Even people receiving $100 Western Union are seething because they convert at about 195.

You are very funny. . We are talking about covering about 20% . We all know oil brings more than 70% of our fx.

grandstar:
It will lead to a massive increase in forex supplies to meet importers needs

Wow...how is this?

Wildrage:
The section quoted only stipulates the conditions precedent to laying off staffs for reason of redundancy

It's a well known legal principle that no law can force a worker on an unwilling employer

No where in the quoted section of the labour law is the minister given the power to withdraw a company's licence in a lqbour dispute as was threatened by Ngige

The most the minister can do is to compel the payment of the stipulated severance package and if the company refuses, initiate a process through the labour court or court of arbitration to compel the company to comply with the law or impose the necessary penalty

The minister acted like a law unto himself, with needless arrogance considering the economic situation of the country. His grandstanding did not cause the banks to reverse their actions so what has he achieved with his careless rantings?

The best approach is to dialogue with the banks concerned, reason with them , promise incentives and govt packages that may cushion the weight of the present economic downturn on the banks

Stop being ignorant. Look at the statement very well. He mentioned the government, we gave them the license, he never personalised it like saying I will withdraw. That being said, no one is forcing any worker on the employer, what we are saying is if u are gonna laynoff staffs, follow due process.
Stop the sentimental slavery mentality and call a spade a spade

grandstar:
It was Soludo and Sanusi that made a senseless defence of the naira and not Jonathan and YarAdua.

Buhari on the other hand has commandeered the CBN and hence must fully hug the blame. He has obstinately refused to allow the naira to find its true value and has stuck to fixing it at way below it's true value leading to epic scarcity and an unnecessary recession.

Stop being sentimental. Buhari's currency peg has devastated the economy. It's almost as bad as printing money to cover the deficit. This is lamentable economics. This is not a half baked policy but an utterly useless one.

Worse despite blatant signs that these policies were not working within 3 months of their implementation such as Letters of Credit going unhonored, he stuck rigidly to them.

His impeccable integrity does not make him an economic genius . Do not forget that.

This is not being sentimental...will devaluation of Naira provide the needed fx to cover Nigeria import needs?

[quote author=AprokoNaija post=46544391][/quote]Feel free

AprokoNaija:
Kindly permit me to republish this... Sure, you will get your credit...

Lol...Sure u can.

grandstar:
The mass sackings is because the banks are in dire straits. Expecting them to award fat payoffs though righteousness may only worse their finances which is a big risk to the economy.

Ther blame should be on Buhari who introduced forex controls that brought the economy to this dreadful state.

I have tried to avoid this. But since u brought it on, i will give it to u too. Blame Buhari? Guess we should blame Jonathan too for depleting our foreign reserves. Buhar is not responsible for fall in oil price which is our major source of Fx. Where Jonathan and Yar'Adua made a cosmetic and phantom defense of the Naira with a Whooping $20bn, Buhari has no such money. Sanusi was able to recue the same banks who ran into trouble for practising unhealthy banking like giving loans to friends, business allies relatives and families which were not being serviced becauw we had a robust reserve. Where Jonathan sold oil for average of 100usd per barrel for about 3 years he was not able to save. Note that Yar'Adua was able to raise reserves from 47bn to $63bn in just about a year. The blame game is a really long chain

oloriooko:
My question is very simple: how will withdrawing their licenses help the labour narket? A bank planning to lay off 200 workers and retain 500 will eventually end up laying off 700 workers if its license is withdrawn

The Minister was too naive and impatient to play the license withdrawing card while the avenue of dialogue had not been explored. Thank God some sense was pumped into his head to forestall the planned mass sack.

On the other hand, disobeying the rule of law is common with the FG so banks following suit is not new.

FG has the power to withdraw the licenses, and let the bank be acquired by another investor or natinalise the bank. They were told to halt the spate of sackings and go to the negotiation table. Thatbsame week, a bank laid off so many staffs. Two wrongs don't make a right. Which rule of law as the FG disobeyed as regards this issue if i may ask?

Einl:
Bros you get sense....remain blessed... you sound like an ex bank worker...

Lol. No way o. I am not even in the private sector.

grandstar:
As much as I would like to condemn the banks, I will desist from doing so.

The banks are in a super competitive environment and have to be suoer conscious of cost.

The best way to curb the excesses of banks is tgo have a booming economy where lots of jobs are being created.

For example, if the country was growing by 8-9% per year, the economy will be creating more jobs than those entering the labor market yearly. If this goes on for a number of years, it will mop up the excess pool of unemployeds and underemployeds leading to a tight labor market.

Workers will be priced and wage growth will be high. This has occured in China and many Southeast asia countries.

If you want bank workers to be treated the way you want, there will be massive redundancies and there will be no outlet to absorb them.

Oh, are u talking about the same banks that were bailed out by government with about 600bn Naira just a few years back? Now they can't be patriotic and do things the right way. Do you know how the executives of this bank share money and how much they collectper anum. The issue is not about sacking, its about following due process in doing so. The executives can as well apply austerity measures to themselves first. Off course they wont, for their selfishness and self centeredness. They will rather push it to sacking of innocent staffs.

omenka:
Thought you didn't know he was the one when you gave him the first reply. Dude has been sad since Jonathan's loss and has sworn over his dead body to see any propriety in whatever the govt does. All his comments and opinion of every action taken by the admin is purely based on his raw hatred for the person of Buhari. Dude can certainly never be helped.

Lol e don tey i know am na. I first responded to him before cos he eas sounding a bit reasonable at first. I knew he was going to definitely derail the more. Asides Jonathan Loss, he has nor overcome being fired as a mod.

Iko5000:
Yes we have labour laws which surprisingly are very good but has any Nigerian Govt applied the laws to any private company - answer is no
Does Govt apply the labour laws to their government workers to protect them , answer is no too.
So Labour Minister ,charity begins fat home . Apply the laws to the civil service first and then you can tackle the private sector too.[size=13pt][/size]

Don't be ignorant. What it comes to labour laws, government are the best in adhering. Be it APC or PDP

Ebubeslym:

yea, he is definitely enjoying his foolishness......
But remember, everything that has a beginning will surely end one day.

Yes, end in the prison or gallows sometimes

Ebubeslym:
But why will you lock up a man protesting that he doesn't want to remain in the same country with a particular nomadic region known for their blood lust and tendency to slaughter innocents when they fail to adhere to the tenets of their religion?
.
.
Are we really one in this 'One Nigeria'?

Noise makers. What about the killings that have been happem in Bayelsa and Rivers respectively. Those ones are allowed as it is not in the North. Useless hypocrites.

All the noise about releasing Nnamdi Kanu or should he be touched, till date nothing has happened. He was already a UK citizen, no one forced him to be a Nigerian, he was stupid enough to agitate using treasonable means, and he is enjoying his foolishness.

Vickyydera:
Why Are These Avengers Hiding Under The Umbrella Of Biafra?

They want to.do the usual na..use and dump the Igbos.

onexile:
The type of Political fraud APC and Buhari has introduced into this country is legendary!


No wonder all the archival criminals came together and assembled in APC.

Fraudulent Organization!

So with all your noise the other day. You could not use your latest dictionary to prove your nonsense words

Clowns full internet sha!

Mynd44:
if I want to lie (or make a joke) to deceive people, I might just make sure my friends are in on it to back me up wouldn't I?

Bro ur attention have been needed here
https://www.nairaland.com/3163311/ngiges-threat-banks-see-labour

lalasticlala:
https://en.m.wikipedia.org/wiki/Abdulsalami_Abubakar

Bro ur attention have been needed here

https://www.nairaland.com/3163311/ngiges-threat-banks-see-labour

modath:
Baba, I agree 100% that many of them don't know, but some of them do but they'd pretend not to so they don't tip their apple cart.. Do you think the intelligentsia among them don't know? They do, but they have to play the part their "unwritten script" calls for.


Obailala,

Truth be told, even if you had the link, the person would still have found another reason to "wail"... I have many many of them who insist on bellyaching to me over every government policy. No matter how valid or superior your argument is, the pre conceived notion won't let the person back down, the other party will slyly find another inanity to wear you down with...

It's the major reason I don't engage the trolls and crazies on this platform... it's tiring.

Typical example of the bolded is ngwakwe the disgraced mod now hiding under the moniker isrealiAirforce. Just take a look at this thread and see his comments

[s]

Achuwa1:
pls is it not individuals tht owns & run dis banks ?
how do u expect individuals tht own & run their business to continue retaining staff with this directionless govt with no economy blue print or policies tht will make banking business & other businesses to survive.
pmb came & muscled them off finances tht they use to do business with TSA,no power & they buy diesel to run their generator sets at high cozt thts if the diesel is available,the govt started collecting stamp duty on every #100 & above deposited indirectly scaring some customers from depositing their money i banks,banks use their finances to pay for structures & premises they use to do their businesss,bank provides security for themselves & pay security out fits like the police force which is the duty of the govt to protect lives & properties etc,,i can go on & on ,,but if the govt feel they dont want banks run by individuals not to sack then they should empower states to owan commercial banks aswel & not to sack if they are not making profits.
NO INDIVIDUAL OR PRIVATE BUSINESS OWNER GOES INTO BUSINESS WITHOUT THE SOLE AIM OF MAKING PROFIT.
dangote gets waivers ,imfact he was having enough import waivers during GEJ regime to bring in some material,& during when some of his businesses had isssues & he sacked some of his workers,why didnt govt reminds him of labour law.
Govt should not interfer on private business owners again coz those sacked employment letter didnt not come thru the govt & moreover,nobody willl see his business on the verge of colllapse & expect to keep quiet just like the govt has been having sleepless night over NIGER DELTA AVENGER activuties for months nw.
so banks has the right to higher when the need arises & to fire when they deem it proper to do so coz no business can survive under harsh economic condition like we have nw or do u expect them to close completely & go to Ghana like some other manufacturing companies did in time past.
abeg ooooo

[/s]

Did u read the article at all or u just decided to type this epistle of shit!

SuperS1Panther:
Lalasticlala Mynd44,

Kindly move the thread to FP. People need to be more aware of their right.

If this was a thread of fake FBI list it would have made FP without even verifying on FBI site or CNN site.

Lol. That list have been flying around the internet since. I was shocked to see it in FP without any form of verification.

shukuokukobambi:
Chai!! I laugh in kanuri

Is this not the same sheriff some idiotic ekpas and bitter wailing Zombies were prepping to unseat the daura mallam from aso rock?

When did he become an OSU?

Anything some people support becomes an outcast

They did it to GEJ, now they've ruined Sheriff's career

If no be say I no wan wounjure some mumus this morning, I for begin dig out all those threads they opened to masturbate over Sheriff their kanuri master

I don dey find this moniker since. Ur attention is needed here

https://www.nairaland.com/3163311/ngiges-threat-banks-see-labour

adaweezy:
Can I republish your article elsewhere?

Very well. Sure.!

obailala:
Just over the weekend, I was in an argument with a rabid buhari government hater who was so pissed and couldn't fathom what right the government had to ask private businesses not to sack workers they employed themselves; she tagged it pure foolishness on the part of Ngige and the entire FG apparatus. I tried hard to explain how a govt has the right to regulate certain things under labour laws, I even cited some examples from foreign countries and asked what side she was even on (the masses or the banks or just anti-govt). But she wouldn't take any of it, I was hardly even allowed to speak all through the argument and by all Nigerian argument standards, she won the argument based on the sheer volume of words she churned out per second.

Such arguments is typically what you get when people allow sentiments and emotions take over their objectivity.

Kindly copy and send her this link to factory reset her brains.
Thank you !

IsraeliAIRFORCE:
What kind of unenlightened reply is this?

I thought you had the interest of workers welfare at heart hence my solidarity but unfortunately you are after politics and vainglory.

Ngwakwe, i know your antecedents. You are never objective neither do u reason logically. From your response so far, you are the one after politics. I have always known you to support fraud. So because i am after worker's welfare, illegality should become legal? Those dismissed for fraudulent activities should be recalled? What a pathetic reasoning, you are one of the reasons Nigeria is Fantastically corrupt.

Where are the people who almost beheaded Ngige for doing the right thing, particularly the PDP minions, and the IPAD yoots, who have even disowned Ngige for fighting for their rights. Why are they shamelessly and mysteriously peeping in those this thread and quietly walking out.

Lalasticlala mynd44 we need more opinions

IsraeliAIRFORCE:
You are right. However, the Federal Government set the precedence when they disengaged thousands from custom to immigration to DSS and so many other agencies and parastatals without recourse to the same Labour laws you cited.
FG can't be lawless and at same time wants others to comply. Things don't work that way.

Which thousands were disengaged? The last time i checked, those disengaged where either disengaged for illegal recruitment, or for corruption or disciplinary purposes.When it comes to labour law, we have to give it to thr government, weather PDP or APC, they abide by it to a fault. The main problem is usually from the private sector.

modath:
99% of the ignoramuses castigating Ngige are only doing it out of deep seated bias and angst, deep in their hearts they know the right thing but unnecessary hate won't let them see clearly..

There are laid down procedures to things like this & they ought to be followed to the letter..

Most employers in the country have turned themselves to tin gods because they've been made to think themselves as being above the law or can't be questioned... NLC has shirked its duty and responsibilities to the masses..

Just this past week, Ngige had to wade into the crises at the Federal Ministry of Health and he resolved it to the delight of the staff who wanted the Perm Sec removed since she had turned herself into a tin goddess because of strong political backing....

The anoying thing his that his brothers now call him Huasa Slave for doing the right thing.

Can anything good ever come out from IPOD