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 and 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.
He said;
“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.”
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