Breaking: FG Order Banks Not To Sack Workers

The federal government has directed banks, insurance and financial
institutions to suspend plans to sack workers in the sector.
Minister of labour and employment, Chris Ngige in a statement said;


"Following spate of petitions and complaints from stakeholders in the
banking, insurance and financial institutions, I hereby direct the
suspension of the on-going retrenchment pending the outcome of the
conciliatory meetings in the industry,"

"This is as a result of the apprehension by my office of the various
disputes in the sector in accordance and in compliance with the
provisions of the labour laws of Nigeria.
"In this wise, all the retrenchments and redundancies done in the last
four months and all proposed ones should be put on hold pending the
outcome of the proposed stakeholders' summit for the banking,
insurance and financial institutions' employers and employees, slated for
July 2."

The statement added that the continued retrenchment and redundancy by
the sector were jeopardising the outcome of the reconciliatory and
mediatory processes undertaken by the ministry.