Lockdown: Don’t sack workers, MURIC urges banks

The Muslim Rights Concern (MURIC) has cautioned against retrenchment in the banking sector after the lockdown occasioned by COVID-19.

The MURIC Director, Prof. Ishaq Akintola, in a statement on Monday argued that Nigerian banks do not need to sack workers because they are making huge profits.

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“There has been palpable fear that Nigerian banks may soon embark on massive sack of workers due to the prolonged lockdown from March to June 2020.

“This fear is justified because of past experiences.

“Retrenchment is common among employers at the slightest excuse since Nigeria runs a capitalist laissez-faire economy.

“Although our message is directed mainly at the banking sector, it applies to all employers of labour as well, both public and private, federal and state.

“Banks particularly have no raison d’etre for retrenching workers this time around since they are making humongous returns,” Akintola said.

He listed some banks and their huge profits to justify his call against sacking of workers by the banks.

“So how can these banks contemplate sacking any worker in spite of these gargantuan earnings?

“How can banks make billions of naira in profits and still decide to retrench workers under the guise of a lockdown?

“Why must management cadre in banks and companies live like kings while other workers are laid off?

“But management cadre of these banks should remember that what goes round comes around.

“They should not embark on an exercise which is bound to bounce back on them and their families,” he said.

He therefore, urged the Ministry of Labour to up its employment game and also watch out for the capitalist gimmicks of the banks and other employers.

He said, “It is absolutely inhuman for those who are making huge profits to sack workers using the excuse of COVID-19-induced lockdown.

“This is the time the working class must put its feet down.”