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FG warn banks against laying off staff despite economic struggles

11 August 2016, 07:18

Abuja - The Federal Government has warned banks and other organisations against laying off workers despite the current economic climate, in an attempt to save the Nigerian economy, Naij reports.

Banks and companies across the country have been laying off workers in a reaction to Nigeria's dwindling economy, which has seen it been overtaken by South Africa as the continent's largest economy.

Also read: Senate summons Labour Minister over threat to banks

Minister of Labour and Employment, Chris Ngige has warned banks and organisations for the second time that they would need to operate within the provisions of the Nigerian law and sacking employees without recourse to due process was unacceptable.

This came after Ngige received a number of petitions from aggrieved Nigerians who had been laid off which, he says prompted him to take action.

News24 Nigeria reported the Chief Executives of banks in Nigeria agreed to suspend the planned mass sacking of workers, however they said they will continue to sack those workers that are found wanting in the system.

For more on this story, visit Naij.

- News 24


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