Nigerian Senate Summons Labour Minister and CBN Governor Over Retrenchments In Banks

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The Nigerian Senate has summoned Dr. Chris Ngige, the Minister of Labour and Productivity, and also Mr. Godwin Emefiele the Governor of the Central Bank of Nigeria and some other commercial bank executives, over the current retrenchments in banks.

 Chairman, Senate Committee on banking, Insurance and other Financial Instituition, Sen. rafiu Ibrahim said it was necessary for the Minister and other stakeholders to appear before the Senate to give explanations on the directive.

 What Is Retrenchment ?
 Retrenchment is an act of forcefully cutting down employees by a firm in order to cut down it's payroll and this is what some Nigerian bankers are facing currently.
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