Chris ngige orders banks to stop sacking staffs

The Minister of Labour and
Employment, Dr. Chris Ngige has
ordered banks to stop sacking their staff.
Ngige explained that there was an ongoing
conciliatory meeting, adding that all
retrenchments should stop, pending the
outcome of talks.
The minister said this on Friday, June 3,
2016, while speaking to newsmen.
Ngige said “Following the high spate of
petitions and complaints from stakeholders in
the Banking, Insurance and Financial
Institutions, I hereby direct the suspension of
the on-going retrenchment in the sector
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.
“This decision is further predicated on the
fact that the continued retrenchment and
redundancy by the banks and other financial
institutions are jeopardising the outcome of
the conciliatory and mediatory processes
being underten by the Ministry of Labour
and Employment.”