Mass Sack: Labour Minister, Chris Ngige Makes 'First Move' in Bank License Withdrawal (Photos)
The honourable Minister of Labour and Employment, Dr. Chris Nwanbueze Ngige seems defiant in his stand to withdraw the licenses of commercial banks and other telecommunication companies should the mass disengagement of members of staff continue.
Chris Ngige with the lawmakers
The minister of Labour and Employment, Chris Ngige met with Senator Rafiu Ibrahim who is the Chairman Senate Committee on Banking, Insurance & Other Financial Institutions alongside other senators in Abuja on Thursday to deliberate over banks' license withdrawal.
The minister had threatened to withdraw the operating license of any bank and telecommunication company that failed to yield to stop mass sack of workers in their employ.
“We did that in the oil industry and we succeeded. Even if you are going to layoff, 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.”
So far, Ngige has successfully halted the spate of firing of workers in the private sector due to claims of economic downturn and alleged redundancy.