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Chris Ngige

FG may withdraw licenses of banks, telecom companies for sacking workers

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By Victor Ahiuma-Young, reporting from Geneva, Switzerland.

GENEVA – The Federal Government, Tuesday expressed shock that employers in the financial sector, especially banks were breaching its directives to stop further retrenchment, threatening to withdraw the operating license of any bank or telecommunication company that breached its directive to stop mass sack of workers.

Speaking to Nigerian journalists at the ongoing 105th session of the International Labour Congress, ILC, in Geneva, Switzerland, Minister of Labour and Employment, Senator Chris Ngige, warned that government would sanction erring companies because government had a duty to protect jobs in this harsh economy.

Ngige was responding to questions on alleged breach of his earlier directive to banks and other financial institutions to stop further retrenchment of workers pending the stakeholders meeting scheduled for next month.

The minister, who spoke after his speech to the ILO National Assembly, said: “We will go a step further if they continue. We know what to do. After all, the banks have the licenses given by the government.

We know what to do. They need to comply. They need to come to the negotiation table. We did (halted the
spate of sack to hold a stakeholders meeting) that in the oil industry and we succeeded. Even if you are going to lay off, there is a way to declare redundancy, there is a process.

Section 20 of the Labour Act says it. You must call the unions and discuss with them. You don’t just treat them as slaves in their own country and you want us to keep quiet.

“We want them to maintain the status quo. As far as I am the minister of labour, I will protect the interest of workers; same to the telecommunication companies, they are also talking about compiling lists without discussing with anybody.”

Mass sack: FG threatens to withdraw license of recalcitrant banks, telecom companies

About Charles Igbinidu

Charles Igbinidu is a Public Relations practitioner in Lagos, Nigeria

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51 comments

  1. They should first deal with El Rufa’i.

  2. They can’t . Dictatorship is rearing its head

  3. You people never see anything.

  4. This man na wa for you o, very soon you will start telling people not to meet their wives… No wonder this Government is failing, none of the minister has administrative brain.

  5. Due to bad government we are into.

  6. Give them bail out and relapse your wrong policies hurting them simple

  7. These people self, when u failed to provide favourable business environment for d banks to strives

  8. Bcos F.G pay bank salaries. When u brought in TSA where do u expects bank 2get money 2finance daily activities. I they laugh oooo.

  9. Its the right decision by the government. Why should they be sacking workers that have helped they (the banks) to aquire wealth? They should swim and sink together

    • Adewole,what is right?what right do Government hv on ur or my private bzns,than to collect their tax

    • Is the federal govt helping them to pay salary, giving to the economic situation they have put this country???

    • Una they mind am? If d bank owe salary now, na same pple go carry them go court

    • We Nigerians we hv problems in reasoning that’s the major reasons politicians toy with us as they like. That fool who said his is a minister knew the reasons and he will not mention it and a full Nigeria citizen who knew the situation at hand is supporting him. Again that thing he said is impossible

    • Adewole! U have to add logic to ur reasoning. The government asking companies not to sack workers, if its easy, Y are they (states) owing? Y didn’t they make it easy for these companies by asking them to forfeit tax payment so they won’t sack workers & if they must sack they won’t sack much. Another thing U should knw is, if these companies sack, they’ll sack not up to or more than 70% and there’s still hope of bouncing back and they will re-employ! Even to remain 30% can help few others. But asking them 2 sink means 100% of the workers will be out of job and their will be no chance of bouncing back! Let’s Think, talk & decide wisely!

    • its a crazy talk from the minister. its purely a business decision. to hire or to fire is purely management’s responsibility. the minister need to consult to understand that they private entities

  10. Didn’t FG know what the outcome will be when they fully implemented TSA and stifled forex? There is need for a policy rethink.

  11. This is madness! What exactly do you mean, will you be paying the staffs?

  12. U make policies that make things impossible to grow nd here u are asking them nt to reduce their burden. Not just banks oooo even private men nd women are also doing the same.

  13. FG has failed in Business/Economy sector.
    No one has the power to enforce workforce on any private organization.

  14. We knew that. Ngige hs nothing to offer,bcs he is a thief,he stole Governor Peter Obi’s mandate,so he should be in prison

  15. Mumu talk from minister serving mumu government.

  16. The solution hangs on giving them enabling environment to survive not revoking their licence,maybe u have not come to realise how difficult things are with them because govt pays all ur bills.

  17. Ur crossing u boundaries nobody has d jurisdiction to stop them .Go and do d needful

  18. Our mad government talking…

  19. APC government is the more u look the less u understand, state government is owning workers and the bank’s cannot afford to pay it staffs because of the situation of the economy and the have no choice than sack and reduce cost to enable them manage the way the country are. Oga minister point out our problems and stop empty talks

  20. so you want them to run on lost?

  21. Banks should not rely on government deposits to earn money, they are suppose to build and monitor small scale business with soft loans , all see in Nigeria is marketers looking for funds in various government agencies, government should balance up with banks to make policy of giving out soft loans with little interest effective, agricultural sector is their, small scale business, their are verse business they can boost to earn from interest

  22. Dey can’t pay dem anymore cuz of DE economical melt down which De president confirm to wat is dis man talking about? OK y do u people scrap de nysc?

  23. Don’t give the Devil a chance. 28 If you used to rob, you must stop robbing and start working, in order to earn an honest living for yourself and to be able to help the poor. 29 Do not use harmful words, but only helpful words, the kind that build up and provide what is needed, so that what you say will do good to those who hear you.

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  25. When they can’t pay workers ?

  26. I never knew ngige smokes gwana(weed), SAD!

  27. Hw when they themselves are planning to drop some workers. Dis is wt we are saying when they started throwing d economy into danger by their horrible policy, they never know d consequent. This just d beginning.

  28. Oga NGIGE please stop acting like an illiterate and don’t let apc mentality destroy your political career.
    How on earth will a reasonable government issue such warning to nongovernmental/ independent companies.
    Presently the condition of our economy is down below 33% and still going down to zero as a result of unplanned economic administrative system from this change government, the economy is very bad as we all know.
    So will this change government give them money to run their bills? ( payment of salaries and allowances).
    When you picture into the future of your total income and discover that you can no longer accommodate a particular size of workers financially dismissing become the solution.
    So I will advice you to inform this change government to do something better than warning.

  29. Hmmm u no fit ,why are u the one running the business confused people …if they can’t make profit how can they pay the workers ,no foundation u want to buikd sky scrapers at first decking tha build have fallen on u now u are looking for who to blame ,u can’t withdraw any license

  30. Apc has failed,and failed they hv nothing to offer.

  31. Apart from being the dullest among the ministers, Ngige is an impossible man, now we know why the economy is not working, so these are the kind of advice they give to the president, common elementary economic, like demand &supple our dear honorable minister do not know, what a shame.

  32. Mr Ngaji, y dont u withdraw urself. U r becoming an embsrassment. Ewu awusa.

  33. Its a shame on bank directors and bank officials, not to have been innovative and creative all this years, despite their academic qualifications, banks CEO should go and meet the chairman of lapo micro finance, the largest micro finance in Nigeria, if not Africa how he is able to manage the organization, even employ staffs everytime, they don’t get deposit from government, but petty traders, this is what is obtainable in develop countries

  34. Oya foot their bills and there will be no retrenchment

  35. How would banks survive when most of them depended largely on government deposits before the TSA regime. Besides, the way the private sector operates is different from that of the public sector. Ministeries and parastatals are funded by the government and in times of crisis they get bail outs. Unlike, the private sector eg banks that depends on savings from the public. With the down turn in the economy and the resultant effects on savings, how would banks survive? There is just no way they can survive.

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