Why they must protest to win: Group protest sack by Mainstreet Bank, former Afribank Plc.

Filed under: Economic Issues,National Issues |

The rate at which organisations lay-off there staff members in todays Nigeria is disturbing, disgusting and appalling. The worst part is majority of them terminates staff employment without any form of payment whatsoever. Few months ago Ecobank Plc sacked a very large number of there staff after acquiring Oceanic Bank Plc, some weeks back it was NIMC, the National Identity Management Commission who moved on 4,029 of there staff members, and today the newly rescued Afribank Plc turned Mainstreet Bank has just sacked over 700 of there staff.

While accusing the bank’s management of unfairness, injustice and disregard for the nation’s labour law, the ex-staffers gave the management a seven-day ultimatum to pay their redundancy benefits or have more serious issues to battle with. Many of these sacked staff have contributed immensely to the success and stability of the bank, only to be pushed out when they expect something good in return for their service.

It is very wrong to terminate appointments with no reason or terminal benefits of staff who has served meritoriously for over 25 years. It is my believe that the management of Mainstreet Bank wants it to look like these people hasn’t been working for them but for former Afribank Plc. I am not saying they should not be layed-off (no one is suggesting so) if thats what Bank managements want, but let due process and observance of every law be followed.

It is there right to be payed of all benefits irrespective of whether or not Mainstreet Bank has a new stock of management. It is also advisable that they go to court if there demands are not met with on expiration of the seven-day ultimatum.

As termination of employment increases, so also is the unemployment rate and crime. It will be in the best interest of the Nigerian government to find an ending solution to this arising problems.

Let us know what you think of the sack!