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Business & Finance

Chris Ngige Warns Banks Against Job Losses

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The Minister of Labour and Employment, Dr. Chris Ngige, has warned commercial banks in the country against the violation of labour laws in the ongoing retrenchment of workers in the banking sector.

Ngige said the Federal Government would not tolerate flagrant disobedience of labour laws by any financial institution operating in the country.

The Deputy Director, Press, Ministry of Labour and Employment, Mr. Samuel Olowookere, quoted Ngige as having made the comment during a meeting with stakeholders in the banking and finance sector on labour laws.

He said that the meeting focussed on labour issues emanating from the recent retirement of workers in the banking sector.

Nigige was said to have reminded the representatives of the banks that the country was a signatory to the International Labour Organisation’s Conventions, which were against unfair labour practices.

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He was quoted as saying, “You must obey all laws of the land, including labour laws, such as the Trade Union Act, T14 law of the federation concerning redundancy , and the Trade Dispute Act, which deals with the management of trade disputes, including employee-employers’ relationship.

“The ILO takes very seriously the issue of workers’ maltreatment in various guises, be it in the industries, construction sites or public service. Workers should be treated with dignity and decency.”


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