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Labour Minister decries sack in banks

By Victor Ahiuma-Young

ABUJA—MINISTER of Labour and Productivity, Prince Adetokunbo Kayode (SAN), has expressed concern over reported increases in retrenchment, casualisation and unrealistic target settings in the Banking sector of the nation’s economy.

Prince Kayode called on the Central Bank of Nigeria (CBN) to ensure that these issues are addressed as the government would not compromise minimum labour standard and best practice in all sectors of the Nigerian Economy.

There were reports that Nigerian banks in a bid to raise money had been subjecting young ladies to very dehumanizing conditions which is popularly refereed to as ‘official prostitution’.

In most cases, the ladies were given unrealistic targets and were asked to meet them by all means possible.

A statement by Mr. Samuel Olowookere, Assistant Director (Press), said the Minister barred his  mind on these issues while meeting with members of the Association of Senior Staff of Banks, Insurance and Financial Institutions ( ASSIBIFI).

The Minister called  on members of the Association to remain calm as his Ministry would do everything possible within the ambit of the laws to ensure that the situation is arrested.


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