FG to sanction banks, oil companies over sack of workers

The Federal Government (FG) has warned Deposit Money Banks, other financial institutions and oil companies against unjust termination of their workers’ contracts.

Speaking on behalf of President Buhari’s administration, Chris Ngige, the Minister of Labour and Employment, said it was discovered that some banks and companies usually dismiss their staff in order to create employment opportunities for their relatives or friends.

Ngige said banks involved in such manipulation of employment process would be sanctioned by the government henceforth. He said the sack of employees in the financial market didn’t follow due process as expected.

The Minister of Labour and Employment made this known shortly after he resumed office for a second term. He was one of the Ministers retained by President Buhari who kept their portfolios. He will be assisted by the Minister of State for Labour and Employment, Tayo Alausadura.

Ngige revealed that timeframe as regards agreement had been initiated by the Ministry and agreed upon with the Trade Unions in Nigeria to protect workers.

“We also have to monitor job losses. We also must stem the tide of job losses through a proactive action from this ministry.

“We were all here when the bank started, we had to stop them because we looked into the matter and discovered they didn’t actually declare redundancy, which is in labour sections.

“They must observe the article of redundancy. We discovered that those banks, having used earlier people, want to dispose of them and bring relatives and other friends, the same thing is happening in the oil industry.

“We have created an enabling environment for them and we can do better. We can consolidate on our gains; we can also conciliate in a better way. We have introduced timeframe of running agreements that have been reached with trade unions in order to make an insurable industrial climate.

“We have done it before, we can do it again. I urge all of you to wear your cap as an issue of unemployment rest on the government to stem it,” the Minister said.