Mass Sack: FG Threatens To Withdraw License Of Recalcitrant Banks, Others

Withdrawal of licenses would lead to more job
losses...or am I missing something?

GENEVA – The Federal Government, Tuesday
expressed shock that employers in the financial
sector, especially banks were breaching its
directives to stop further retrenchment, threatening
to withdraw the operating license of any bank or
telecommunication company that breached its
directive to stop mass sack of workers.

Speaking to Nigerian journalists at the ongoing
105th session of the International Labour Congress,
ILC, in Geneva, Switzerland, Minister of Labour and
Employment, Senator Chris Ngige, warned that
government would sanction erring companies
because government had a duty to protect jobs in
this harsh economy. Ngige was responding to
questions on alleged breach of his earlier directive
to banks and other financial institutions to stop
further retrenchment of workers pending the
stakeholders meeting scheduled for next month.

The minister, who spoke after his speech to the ILO
National Assembly, said: “We will go a step further
if they continue. We know what to do. After all, the
banks have the licenses giving by the government.

We know what to do. They need to comply. They
need to come to the negotiation table. We did
(halted the spate of sack to hold a stakeholders
meeting) that 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 statusquo. 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.