• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs, ICPC and the Audit of Conscience

      Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

      President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

      Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO…

      WTO Lauds Nigeria Customs for Embracing Global Trade Standards

  • National
    • Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

      DICON signs MoU with Saudi firm

      DICON, Saudi firm sign MoU to produce security drones, satellites in…

      Chief of Army Staff, Lt Gen Faruk Yahaya

      Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation…

      Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army…

      Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk…

    • Government
      • Corporate Affairs Commission

        CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

        Employment: ICPC Secures Conviction of FAAN Staff

        Staff of PRNigeria with federal lawmakers

        Federal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment

        G7 Countries

        Iran Must Never Possess Nuclear Weapons – G7 Declare

        Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi…

  • Security
    • Police Officer

      Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader…

      Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

      DICON signs MoU with Saudi firm

      DICON, Saudi firm sign MoU to produce security drones, satellites in…

      Chief of Army Staff, Lt Gen Faruk Yahaya

      Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation…

      Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army…

  • Features
    • Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk…

      NYSC Corps Members in Camp

      The Burden Too Many Nigerian Youths Bear Alone

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

      Domestic Violence

      Marriage and the Silent Wounds Within Homes By Hafsat Ibrahim

      FutureMap Foundation Sparks Innovation with Design Thinking in Nigeria

  • State
    • Police Officer

      Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader…

      Customs Hands Over N172m Worth of Cannabis to NDLEA in Ogun,…

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

      IEDs found at the bridge

      Military Foils Terrorists’ Bomb Attack, Discovers 56 IEDs on Marte–Dikwa Bridge…

      Suspected Gunrunner

      Plateau: Troops Nab Suspected Gunrunner, Recover AK-47, Ammunition in Plateau

  • Event
    • President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

      SCN NGO signs partnership with PRNIGERIA

      SCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects

      NELFUND

      NELFUND Warns Students Against Fake Loan Application Portal

      EFCC Witness: Yahaya Bello Had No Property Dealings With EFAB

      Hon. Rukayat Motunrayo Shittu (RMS), with PRNigeria Ladies in PR I'm Abuja

      Rukayat Shittu Set to Publish Inspirational Book “Cracking the Glass Ceiling”,…

    • PR Nigeria Award
  • E-Paper
Home Government Bank Retrenchment: Senate Commends Labour Minister, Throws Weight Behind Dialogue
  • Government

Bank Retrenchment: Senate Commends Labour Minister, Throws Weight Behind Dialogue

By
Samuel Olowookere
-
June 27, 2016
•Ngige-ChrisThe Senate has commended the Hon. Minister of Labour and Employment, Sen. Chris Ngige for his proactive intervention in the on-going retrenchment in the banks and other financial institutions and gave firm support to his decision on dialogue with all social partners as the only option to the peaceful resolution of the industrial disagreement in the sector.
 
“I sincerely commend the federal government for being willing to work with the banks to find a common solution to this issue of retrenchment, which affects almost every family in Nigeria. I am grateful that all of us have all agreed to dialogue and I implore you to do justice to all issues before the stakeholders’ summit is convened in July. I therefore appeal to everybody to be humble and to be open in our different positions at the talks,” says the Chairman of the Senate Committee on Banking and Finance, Sen. Rafiu Ibrahim at the Public hearing on the emerging issues in the financial sector over the weekend.
 
“I am happy with the explanation of the Hon. Minister on the issue of bank licenses, that he did not threaten that the Federal Government would withdraw their licenses; that it was a case of misrepresentation. That gives a convivial atmosphere for all the social partners to freely dialogue and peacefully resolve all issues,” Senator Ibrahim added.       
In his presentation, the Minister of Labour and Employment, Sen. Chris Ngige said that all the steps he has so far taken on the issue were in defence of the constitution and the labour laws as well as to safeguard the interests of all parties while ensuring peaceful industrial milieu for enhanced productivity in the sector.
 
“The constitution is the supreme law of the land. The constitution is aware that we are in a society where all of us will not be equal and that everybody must be protected – big and small. That is why in sections 14, 15 and 16 and even 17, it protects the employer, the economy and the workers.
 
“It is from these provisions that the National Assembly enacted the labour laws to guide all of us on how to deal with the issues of employment.  So, all that my ministry has done is to execute and protect these laws from infractions. I acted in good faith to protect the interest of all.”
 
Sen. Ngige cited petitions from the unions in the Financial sector which border on unwholesome practices, the height of which was mindless retrenchment as the immediate reason for his intervention, directing all the parties; the bank employers and the unions to maintain the statuesque ante-bellum through a press release on June 5, 2016, pending the resolution of the disputes.
  
“We intervened in the spirit of collective bargaining. We got petitions from NUBIFE on casualization, contract staffing, poor remunerations which is not in conformity with equal work, equal pay in our constitution, ill human conditions of service, rampant termination without due compensation and resistant to unionization contrary to section 40 of the constitution.  We investigated these and found them true in some banks. We invited the concerned banks; they gave excuses on why they won’t honour the invitation while they continued with retrenchments.     
 
“I know my rights as Minister of labour and I will exercise those rights for the benefits of Nigerians, high and low. It is within my power to declare a truce in any industrial crisis. That was why I asked the banks; don’t retrench further and the unions; don’t picket the banks so we can sit down to resolve the issues.  The labour law on redundancy says in article 20 that if you negotiate redundancy and a party is dissatisfied, the Minister has the right to intervene.
 
“The law makes provision for the employer is to disengage a worker if he cannot actually run his enterprise efficiently and effectively with a big load of staff in which case, he will declare redundancy but it states clearly the process for doing this. It says you must engage the labour unions in that industry and if it gets out of hand, the local unions will report to their national union. If they can’t resolve this, the parties, unions or the banks will refer it to the Minister of labour for conciliation.”
  
The Minister further dispelled the impression that the Federal Government was interfering in the running of private businesses.
 
“We are not interfering in their business. They are there to make money and protect their investments and nobody is against this. But don’t forget that individual Nigerians are also investors in these banks. So they are not the only investors. I have my own shares in these banks and they pay me dividends, which I am pleased with. However, I will not be party to drawing dividends on the blood of helpless Nigerians. The banks can save some of these low cadre jobs by re-adjusting the heavy perks at its top management cadre. We pleaded same with the major oil companies and it worked.”  
 
Speaking on unionization in the banks, the Minister added that the only institution in the Financial sector where staff members are exempted from unionization is the Central Bank and that no other bank in the country had the right to prevent its staff from forming a union.
 
“Unionization according to the constitution and labour laws is the right of workers. There are exemptions and the institutions that are exempted are clearly listed. Here, it is only Central Bank that is exempted in the banking sector. And the law says again that the Minister of labour in his wisdom can grant a waiver to any institution. I have not granted waver to any bank and I will not grant such,” Ngige concluded.
 
 
 
Samuel Olowookere
Deputy Director (Press)
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Hon. Minister of Labour and Employment
  • Sen. Chris Ngige
  • Sen. Rafiu Ibrahim
Previous articleIGR: 36 States Generates N682bn… 15 Appear to be going bankrupt…
Next articleNIS Seeks Access to Interpol Database
Samuel Olowookere
Samuel Olowookere
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

Corporate Affairs Commission

CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

Employment: ICPC Secures Conviction of FAAN Staff

Staff of PRNigeria with federal lawmakers

Federal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment

G7 Countries

Iran Must Never Possess Nuclear Weapons – G7 Declare

Nigerian Dignitaries, Business Leaders Attend Aminu Dantata’s Burial in Madinah Saudi Arabia

Dantata laid to rest at Medina Cemetery

Legendary Business Mogul Aminu Dantata Laid to Rest in Madinah Cemetery

Tinubu Seeks Visa Waivers, Scholarships as Nigeria Establishes Diplomatic Ties with Saint Lucia, OECS

Malam Yusuf Abubakar Dingyadi

Dingyadi, PDP Chair’s Vocal Spokesperson, Resigns

Ambassador Yusuf Maitama Tuggar

Ambassador Tuggar’s Doctrine of Calm in a World on Fire By Umar Farouk Bala

A brief travelogue by Fredrick Nwabufo

Mrs. Didi Esther Walson-Jack

18 Workers, Two MDAs Honoured as Federal Civil Service Week Ends

The Chair WCO Bashir Adewale Adeniyi having a conversation with fellow colleagues.

Nigerian Customs Boss Elected Head of World Customs Body

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader Abducted
  • Ribadu Proposes Reintegration of Military Veterans to Bolster National Security
  • DICON, Saudi firm sign MoU to produce security drones, satellites in Nigeria
  • Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ Welfare
  • Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army Commanders
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader AbductedRibadu Proposes Reintegration of Military Veterans to Bolster National SecurityDICON, Saudi firm sign MoU to produce security drones, satellites in NigeriaEx-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ WelfarePrioritise Troops’ Welfare, Mission Over Personal Gain - COAS Charges Army CommandersNigeria's Growth Numbers Tell Only Half the Story By Umar Farouk BalaThe Burden Too Many Nigerian Youths Bear AloneCAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in NigeriaEmployment: ICPC Secures Conviction of FAAN StaffCustoms Hands Over N172m Worth of Cannabis to NDLEA in Ogun, Commissions 13 New Patrol VehiclesCombating Deepfake Videos: A Fight for Nigeria's Soul By Mukhtar Ya'u MadobiMilitary Foils Terrorists' Bomb Attack, Discovers 56 IEDs on Marte–Dikwa Bridge in BornoNIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE Africa AwardsDHQ: How Troops Nabbed Mastermind of NDLEA Commander’s Kidnap in AnambraFederal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment
X whatsapp