FG Threatens To Revoke Licences of Banks Violating Its ‘No Sack’ Order

The Minister of labour and employment, Chris Ngige has threatened to sanction banks and telecommunication companies, that are defaulting its orders to suspend retrenchment exercise.

Ngige who was speaking at the 105th session of the International Labour Congress (ILC) yesterday June 7th in Geneva, Switzerland said:

“The federal government gave the licences to the banks to operate and if its directives are not adhered to the licences will be withdrawn if the need arises. We will go a step further if they continue. We know what to do. They need to comply. They need to come to the negotiation table. We halted the spate of sack in the oil industry and we succeeded. Even if you are going to lay off, there is a way to declare redundancy, there is a process. Section 20 of the labour act says it. You must call the unions and discuss with them. You don’t just treat them as slaves in their own country and you want us to keep quiet. We want them to maintain the status quo. As far as I am the minister of labour, I will protect the interest of workers; same to the telecommunication companies, they are also talking about compiling lists without discussing with anybody.”

Dr Ngige's reaction came following the news of the retrenchment of over 200 staff of Skye bank yesterday.