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Downsizing: FG threatens to revoke licences of banks which breach directive

By The Rainbow
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Minister  of Labour and Employment, Dr. Chris Ngige, has said the Federal Government would  no longer tolerate banks flouting its directive.

Ngige spoke  on Tuesday in Geneva, Switzerland  against the background of banks ignoring his directive to stay actions on workers retrenchment until some underlying lanbour issues before him were sorted out.

He spoke from the Europen country where where he attended an International Labour Congress, ILO, meeting.

The Nigeria Employers Consultative Association was quoted as saying that the  power to hire and fire does not rest with the government, but Ngige said if the banks failed to comply with the directive to maintain the status quo, the government knows what to do. “Afterall, the banks have licences that are issued by the government,” Nigige said, with an obvious tine of threat.

The Minister maintained that no worker should be treated like a slave in his own country and thrown out of job by employers of labour without following the due process.

He noted that apart from the banks, telecommunication companies were breaching the labour laws by denying their workers the opportunity to unionise.