The Federal Government and the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSIBIFI) said that the recent mass sack by banks was unfair and that it must follow due process.

The Minister of Labour and Productivity  Prince Adetokunbo Kayode, who spoke while meeting with the representatives of the Central Bank of Nigeria (CBN), bank’s and Labour unions in  Abuja said that a committee would soon be set up to look into the impasse.

He said the federal government would frown at the actions of the banks  that are now sacking  their workers, if it discovered that due process was not followed in carrying out the exercise.

Kayode said: “Why are we sacking bankers in Nigeria? The whole newspapers have been full of stories of 1,500 sacked in banks, 2000 sacked in banks.

Whatever it is, we would like to get to the root and hear from the unions who are supposed to protect the interest of workers in that sector. It is good for us to hear from the banks themselves, and the regulators who guide the interests of the sector.

“There has to be pay cut because the environment  was smooth and sweet, none of you complained.  Government insists on due process.  Let us not take it from one side let the public also know that you are doing your best for the workers.  The impression given is that the unions have abandoned their people.  We have started the process of dialogue and we must continue with it”.

The General Secretary  of ASSIBIFI, Comrade Yacins Eremesele, decried a situation where some of the banks have refused to meet with the leadership of the union to discuss the issue.

“We take the banks on one-on-one basis now as they make their presentation. UBA, said they did not sack 2000 but they did not tell the public the number they sacked.

“We believe in what the press has said, they said 2000 and that is what is communicated.  They did it unilaterally, the national union of ASSIBIFI was never involved.

Up till today we have called for meeting severally and they never gave us any reply, as if to say anything you want to do, go ahead and do it.

“On Oceanic Bank, we are aware that within or shortly before the Yuldetide season they contemplated the sack, we quickly wrote them, saying let’s do it in a friendly manner.

“It dosen’t take a whole day to hold meeting and discuss terminal benefit of people.  Nobody says you must not sack if you must sack, but please follow due process.

“So a meeting was eventually held between them and the national union represented by me, and we signed an agreement in accordance with the Labour Act.  We agreed on the number, which is 1900 people. If anybody says it is 2000, it is wrong, 3000 it is wrong”.

The Governor of CBN who was represented by his deputy, Sule Labaran denied that it was the apex bank that directed the banks to lay off workers.

Labaran said: “It is the banks really that should speak.  The matter of sacking is for the bank not for the Central Bank. I will say the issues as we see it, just like the managing director of Intercontinental Bank has rightly said. It is not the business of the CBN to determine the management level of banks. They are in business to make money this determines their operational cost which includes staff cost.