TheCable

Despite the embargo which the federal government placed on dismissal of staff in the banking sector, Skye Bank Plc fired 175 staff on Monday.

Though some of those affected put the figure at 200, saying the bank reduced the actual number of those dismissed.

Citing petitions and complaints, Chris Ngige, minister of labour and employment, asked the banks to suspend retrenchment pending a stakeholders meeting on July 2.

Ngige said any action taken in that regard would be seen as illegal, saying a meeting on the way forward would be held on July 2.

“Following spate of petitions and complaints from stakeholders in the banking, insurance and financial institutions, I hereby direct the suspension of the on-going retrenchment pending the outcome of the conciliatory meetings in the industry,” he had said in a statement late Friday.

“In this wise, all the retrenchments and redundancies done in the last four months and all proposed ones should be put on hold pending the outcome of the proposed stakeholders’ summit for the banking, insurance and financial institutions’ employers and employees, slated for July 2.”

But the commercial bank went ahead with its action on the next working day after the directive was given.

One of those affected by the sack told TheCable that he picked up his own disengagement letter at the Victoria Island, Lagos headquarters of the bank.

The staff, who worked in one the bank’s branches in Ikeja, joined the organisation at its inception in 2006, and rose to the position of a senior banking officer (SBO).

The banker blamed the situation on the economic crisis, saying his former employers paid him off.

Skye Bank later confirmed the retrenchment of staff, but said those affected failed in the bank’s appraisal exercise held in 2015.

The bank also explained that those laid off were duly exited in line with the bank’s staff exit policy.

The current economic crisis has led to massive job loss, particularly in the banking sector.

Last week, Eco Bank relieved over 1,000 staff of their duties. The dismissal came a few months after 50 senior managers were sacked.

In its latest report, the Nigerian Bureau of Statistics (NBS) said 1.5 million Nigerians became unemployed in the first quarter of 2016.

The report said the country’s unemployment rate grew from 10.4 percent in the last quarter in 2015 to 12.1 percent.