Senator Chris Ngige, Minister of Labour and Employment, has explained the rationale for Federal Government’s recent directive to some commercial banks to halt the gale of retrenchment in the sector.
He said the directive was based on damming petitions against the commercial banks from the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFE).
According to Ngige,despite some observed shortcomings in the Treasury Single Account(TSA) policy of the government, many of the banks fell short of required standards on labour issues […]
The Nigeria Labour Congress (NLC) has issued a 16-day ultimatum to banks who were alleged to have retrenched workers without following due process.
The Deputy General Secretary of the NLC, Chris Uyot, said in Abuja yesterday that letters have been sent to the affected banks to either reverse the decision or be prepared for picketing of their branches by Labour nationwide after the expiration of the ultimatum.
The countdown to the ultimatum begins today, 16th June, 2016.
The letter to the banks reads […]