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DMBs agree to halt mass reduction of workforce


Deposit money banks (DMBs) in the country have agreed to halt the spate of recent mass sack in the industry over the threat by Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to picket banks that indulge in further mass sack of their employees. According to Bola Adesola, Managing Director of Standard Chartered Bank who said that, banks understand the implication of people not being in employment especially with what the situation is like in the country.” And we are looking at ways we will ensure that we minimize exits from institutions” he added. Adesola of Standard Chartered while speaking to journalists recently,  noted that there will always be exits. People will exit the institutions.

He added that as a matter of fact, it is something the banks MDs have discussed in the past with the CBN Governor prevailing on the banks to minimize any exits from the institutions. In his words: “We have noted the market sentiments and am sure that going forward, it will be different but as I said, we must recognize also that there would be reasons why people would leave and it is not just in the banking industry- telecoms and other sectors have had this type of situation before but it is something that we would manage.” The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), had previously threatened to picket banks that indulge in further mass sack of their employees, saying that the Federal Government was right to have warned the erring banks with withdrawal of their licenses if they refused to halt the gale of mass retrenchment of workers. |The two Labour groups stated that just like the banks disobeyed the laws of this country, when it comes to retrenching their (unions) members, “we will picket them to show them that they do not have monopoly of law of disobedience.”

Both the NLC President, AyubaWabba and the TUC President, Bobboi Kaigama, who frowned at the refusal of the banks to allow their workers to unionize, said the pronouncement of the Minister of Labour and Employment, Senator Chris Ngige was expected. Also, the Comrade Ajaero faction led of the NLC has given a 21-day ultimatum to the banks that have engaged in mass sack against the rules of engagement to reverse the decision or face the wrath of the workers. His words: “On the basis of this, Nigerian workers demand that the Ministry goes beyond thecall and seek a reversal of the illegality. This is to avoid a dangerous precedence from being set where an employer can just wake up and sack hundreds of its workforce without recourse to the laws of the land.”

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