The Senate, on Wednesday, summoned the Minister of Labour and Employment, Senator Chris Ngige, the Central Bank of Nigeria (CBN) governor, Dr Godwin Emefiele and other bank chiefs over current gale of retrenchment in the banking industry.
The summon, sequel to a motion moved by Senator Rafiu Ibrahim, on Wednesday, is to enable the minister and the CBN governor to explain the reasons behind the mass sack ongoing in the banks.
The summon, according to the motion, would also enable stakeholders clarify the threat issued by the government to withdraw the operational licence of the banks if the mass sack of their workers was not halted.
Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Ibrahim, told the Senate that the Minister of Labour made a statement on Tuesday, in Geneva, in which he threatened the banks to stop retrenchment of their staff, because they were not the only ones suffering the economic downturn in the country.
He also said the statement sounded misguided and needed to be clarified.
He said: “Banking is a very sensitive industry and any misguided statement can have a throwback on the industry; it can create a run on the banks.
“As the chairman of the Senate Committee on Banking and Finance, we want to invite the minister, the CBN and the banks to know if they are talking about retrenchment and what will happen.
“We want to know the basis of the directive and the basis of the threat.”
The Senate President, Dr Bukola Saraki, did not throw the matter to the floor for open debate since he stated that Senator Ibrahim came under order 43 which deals with personal explanation, directed that the Committee on Banking should summon the Labour Minister, CBN governor and other bank executives over the looming crisis.
He said: “Senator Rafiu Ibrahim brought this matter to me and he has come under personal explanation over which there would be no further debate.
“They will come and meet before your committee at anytime decided by the committee.”
In a related development, Director-General (DG) of the Nigeria Employers Consultative Association, (NECA), Mr Segun Oshinowo, has described the threat by the Federal Government to withdraw operating licence of banks which flout its directive to stop mass sack of their employees, as reckless.
Speaking to journalists covering the ongoing 105th Session of the International Labour Conference in Geneva, Switzerland, the NECA DG, said the Minister of Labour and Employment, Senator Chris Ngige, who issued the threat was arrogating to himself “the entire sovereign power of the Federal Government in giving directive.”
According to him, the minister cannot act beyond the power given to him by the law; and cannot force on himself the entire sovereign power of the Federal Government.
Oshinowo said: “The real issue for us is, are the parties following the law? Are the parties following structure for engagement that is on ground? When we are talking about parties, it includes the minister.
“The minister cannot act beyond the power that has been given to him by the law. The minister cannot force on himself the entire sovereign power of the Federal Government in giving directive. I really find it reckless for the minister, at this age and time, will be threatening employers with withdrawal of licence.
“The global community is looking at his language and his disposition. That is not the way to go. He is arrogating to himself the power of the Federal Government. He has to be careful in respect to some of these comments.”
By issuing the order, Oshinowo said the minister confirmed that he lacked basic knowledge regarding industrial relations.
He stated that NECA was not informed by the ideological consideration or an interest concentration because Nigerian employers are equally Nigerians and they are interested in the welfare of Nigerians.
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