Nigeria Federal government suspends sacking of workers in the Banking sector

The federal government of Nigeria has given directives to  banks, insurance and financial institutions to suspend their actions  in the sacking of workers in the sector.

Minister of labour and employment, Chris Ngige in a statement said; "Following spate of petitions and complaints from stakeholders in the banking, insurance and financial institutions, I hereby direct the suspension of the on- going retrenchment pending the outcome of the conciliatory meetings in the industry," "This is as a result of the apprehension by my office of the various disputes in the sector in accordance and in compliance with the provisions of the labour laws of Nigeria. "In this wise, all the retrenchments and redundancies done in the last four months and all proposed ones should be put on hold pending the outcome of the proposed stakeholders' summit for the banking, insurance and financial institutions' employers and employees, slated for July 2."