Meanwhile, the minister had cited petitions and complaints as reasons all financial institutions should suspend intended retrenchment pending a stakeholders meeting on July 2, 2016.
Barely 24 hours after the minister of labour and employment, Chris Ngige asked banks to suspend retrenchment following petitions and complaints, Skye Bank Plc has fired at least 200 staff on Monday, June 6, 2016. According to a report by TheCable, the financial institution has laid off over a hundred staff with full benefits paid to affected staff. Meanwhile, the minister had cited petitions and complaints as reasons all financial institutions should suspend intended retrenchment pending a stakeholders meeting on July 2, 2016.
Minister of Labour, Chris Ngige
Stressing that any financial institution that flouts the directive will be severely dealt with by the Federal Government, Ngige said such actions would be seen as illegal. In his words, “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,” he had said in a statement late Friday. 'n 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 minister said. According to financial experts, the current economic meltdown had had a compelling effect on financial institutions to move into down-sizing.
I have been reporting for several years now and I am very interested in visual news reportage with strong inclusion of photos and video multimedia.
Posted: at 7-06-2016 07:12 AM (7 years ago) | Addicted Hero
ngfineface at 7-06-2016 07:56 AM (7 years ago) (f)
Its about time Labour union deal with this. There should be a law backing employees such that it will be difficult to lay them off cheaply and even when employers do, they pay employee heavily. That is what is obtainable oversee. That is how it should be done. This is so sad
Posted: at 7-06-2016 07:56 AM (7 years ago) | Hero
SKY bank is not a branch of crude / natural resources ( NNPC outlet) when the federal government suspend dollars transaction and ATM usage overseas affecting thousands of Nigerian students oversea that is not an in human action against the citizens of Nigeria madness.
Posted: at 7-06-2016 10:08 AM (7 years ago) | Upcoming
SweetDaddy1 at 8-06-2016 10:46 AM (7 years ago) (m)
It would had been better to keep the federal ministers in the GEJ administration to continue their good work, Instead of replacing them with people who know nothing about their job portfolios.
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Posted: at 8-06-2016 10:46 AM (7 years ago) | Gistmaniac
Its about time Labour union deal with this. There should be a law backing employees such that it will be difficult to lay them off cheaply and even when employers do, they pay employee heavily. That is what is obtainable oversee. That is how it should be done. This is so sad
honestly
Posted: at 25-06-2016 10:02 PM (7 years ago) | Hero
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