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Demand for 10% stake in privatised firms, Falana urges workers

LAGOS lawyer and human rights activist, Mr. Femi Falana has called on Nigeria workers to demand and acquire a-10 per cent stake in any company being  privatised by government.

Mr. Falana who spoke at a forum  organised by Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), posited that the privatisation act recognises it.
He dismissed the argument that workers would not be able to raise the needed funds to acquire the stake and said organised labour should also go to the banks and raise money as private individuals and businessmen do.
The activist implored Nigerian workers especially those in the banking sector to join hands with the progressive forces in the country to checkmate the high level of capital flight perpetuated through the industry by those in Government.

According to him: “I call on workers in the financial institutions to bail out this country from high rate of capital flight that our leaders have through corrupt practices perpetuated through the banking industry.
“It is only when the workers take their destiny in their hands that those that fraudulently take public funds into foreign accounts could be checked.  It is sad that workers in the financial institutions have had enough of policies which have delivered vast wealth to a tiny few that  have profited from lax or non-existent regulation of financial markets, while those who actually produce the goods and services of the real economy have seen their wages stagnate or fall”.

Earlier, ASSBIFI’s acting President, Sunday Olusoji Salako declared that Nigeria’s government has no regard for decent work as the laws of the land does not recognise any working environment for decent work saying that the nation’s leaders must recognize the fact that the industrial crises in the country persist as a result of anti decent work polices.

Salako, who was represented by Edward Olobayo, said “ASSBIFI has used today’s decent work day  symposium to call for drastic change in the Nigeria economy, as unemployment and poverty crises threaten the livelihoods of millions of people and have brought the workers to the very edge of a catastrophic recession.

“Nigeria workers are living witnesses to the poor state of workplaces. We have a situation whereby most factories in the country are mere shadow of themselves as some are like slave-camps with very unfriendly atmosphere run by Lebanese, Chinese, Syrians and Japanese with no regard to Nigeria labour laws”.


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