In a bid to resolve the lingering retrenchment and other major labour issues in the banking and financial institutions, the Federal Government in a crucial meeting with the sector’s organised labour unions (ASBIFFE & NUBUIFE) declared that banks and their employees must be ready to operate within the provisions of the Nigerian laws.
Bring the first of the three-stage meetings with the sector’s stakeholders, the Minister of Labour and Employment, Sen Chris Ngige, said, “Our journey towards the resolution of the industrial disputes in the banking and financial sector begins today. You may recall the series of petitions from the organised unions in banks and financial institutions and individuals complaining of unfair labour practices which include illegal termination of appointments, forced resignations, unpaid exit emoluments and entitlements, non remittance of union check-off dues, prolonged casualisation, contract staffing and redundancy.”
Ngige explained that his experiences with the disputes in the financial sector compelled him to intervene and declare status quo ante-bellum on the 30th of May, 2016, where he directed banks to reverse all termination of the previous four months while the unions were restrained from picketing the banks, pending the outcome of negotiations.
He, however, noted that the misinterpretation of his directive to banks led to an invitation by the Senate Committee on Banking and Financial Institutions, which agreed that the ministerial directives were proper and legally guided after his appearance with the banks and the unions and commended his approach to the matter.