Godwin Emefiele, CBN Governor
Godwin Emefiele, CBN Governor

Irked by the ongoing mass sack in some banks in the country, the Senate yesterday summoned the Minister of Labour and Employment, Dr. Chris Ngige; Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele and other bank chief executives to explain reasons behind such action.
No less than 1, 500 workers in the banking industry were said to have lost their jobs in the last one week in the exercise reportedly carried out by three of the banks so far.
Our correspondent gathered that the affected workers are those of the Diamond Bank where 200 were laid off, Skye Bank -175 and Ecobank with 140 respectively.
Senate in particular summoned Ngige, who threatened possible withdrawal of the operational licences of the banks if the mass sack of their workers is not halted, while speaking at the International Laour Organisation, ILO meeting on Tuesday in Geneva, Switzerland.
This was sequel to a point of order raised to that effect by the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim (APC Kwara South).
Senator Ibrahim in the Point of Order informed the Senate that the minister of labour made a statement on Tuesday in Geneva threatening banks to stop retrenchment of their staff because they are not the only ones suffering the economic downturn in the country which however sounded misguided to the Senator.
“Banking being a very sensitive industry, 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 central bank 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”, he said.
Accordingly, the Senate President, Dr. Abubakar Bukola Saraki who did not throw the matter to the floor for open debate since Senator Ibrahim came under order 43 which deals with personal explanation, directed the committee to 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 of which there would be no further debate.
“They will come and meet before your committee at anytime decided by the committee”, he added.

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