….As First Bank recalls sacked workers

By Victor Ahiuma-Young
FEDERAL Ministry of Labour and Productivity has waded into the industrial face-off between the organised labour in the financial sector and the management of Wema Bank Plc, over the ongoing restructuring exercise in the bank which so far claimed unspecified numbers of workers.

This is coming even as indication emerged that First Bank Plc, has not only put on hold its own restructuring exercise, the bank is said to have recalled the staff who were issued sack letters about two weeks ago.

Vanguard gathered that Minister of Labour and Productivity, Prince  Adetokunbo Kayode, sensing that the face-off could lead to an industrial crisis, Friday summoned leaders of  Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and the management of the bank to a meeting in Abuja in an efforts to resolve their differences.

According to Vanguard’s investigation, both parties had earlier met on Wednesday at the bank’s head office in Lagos to iron things out.

Leaders of ASSBIFI and the management of the bank had been at each other throat over the bank’s ongoing restructuring exercise.

Following the Minister’s intervention, Vanguard gathered that both parties have now agreed to resolve their differences internally.

Confirming the developing, General Secretary of ASSBIFI, Comrade Jarvis Erhomosele said though the ministry acknowledged that employers have the right to downsize or rationalize its workforce but however maintained that when such need arises the law of collective bargaining and its provisions as indicated in section 20 of the labour act should be strictly adhered to.

According to him:  “At last Friday’s meeting both parties informed the labour ministry that a window of dialogue has already been initiated to look into the issues on ground. The labour ministry commended the initiative and advised us to report to the ministry as soon as the matters were resolved and whereby we are unable to settle amicably, we should not hesitate to let them know.

The ministry also advised employers to desist from entering into any form of agreement with in-house unions stating that it is a wrong procedure to do so, but rather advised that any issue relating to workers welfare should be discussed with the national secretariat of ASSBIFI in Ikeja as this will help reduce the conflicts in the industry.”

In a similar development, there are strong indications that First Bank Plc, has not only put on hold alleged planned to sack not less than 450 staff, but that the bank has recalled those already issued with termination letters.

Vanguard gathered that this development was the fall out of meetings between leaders of ASSBIFI and the Bank’s management

Comrade Erhomosele, while confirming the recall of the affected staff, said it was a good development in the industry.