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CBN to sanction banks over anti-labour laws

16 July 2014, 15:09

Lagos - Financial institutions under the Central Bank of Nigeria regulation have been ordered to recognise their employees’ rights to safe and fair labour conditions, reports ThisDay.

The apex bank in a letter to all banks, discount houses and development finance institutions noted that banks’ staff/employees are at liberty to freely associate in furtherance of their rights as enshrined in national regulations and laws and international conventions and treaties that Nigeria signed.

The letter signed by Tokunbo Martins, Director of Banking Supervision, CBN, said sanctions would be imposed on banks, discount house, or development finance institution that are found in any manner to hinder or prevent their staff/employees from exercising their rights to free association.

Read more at ThisDay.

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