Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    CBN Targets N750bn in Upcoming Treasury Bills Auction

    July 14, 2026

    US Dollar Index Slides as Inflation Eases Fed Rate Hike Bets

    July 14, 2026

    XRP Jumps as Ripple Joins BlackRock, J.P. Morgan, Others to Tokenise UK Debt

    July 14, 2026
    Facebook X (Twitter) Instagram
    Trending
    • CBN Targets N750bn in Upcoming Treasury Bills Auction
    • US Dollar Index Slides as Inflation Eases Fed Rate Hike Bets
    • XRP Jumps as Ripple Joins BlackRock, J.P. Morgan, Others to Tokenise UK Debt
    • Import Duty Exemptions Hit N34trn in 2025 – Customs
    • South Africa Rand Firmer on Broad-Based US Dollar Weakness
    • Oil Prices Surge on Renewed Energy Crisis, Brent Nears $85
    • Nigerian Bonds Face Sell Pressure Ahead of Inflation Data
    • Fixed Income Investors Boost Treasury Bills Holdings, Yields Ease
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Tuesday, July 14
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » NUBIFE Pickets Polaris Bank for Unjust Disengagements, Violation of Labour Laws

    NUBIFE Pickets Polaris Bank for Unjust Disengagements, Violation of Labour Laws

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiJune 6, 2023Updated:June 6, 2023 News No Comments3 Mins Read
    NUBIFE Pickets Polaris Bank for Unjust Disengagements, Violation of Labour Laws
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    NUBIFE Pickets Polaris Bank for Unjust Disengagements, Violation of Labour Laws

    The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFE) on Tuesday staged a protest at the head office of Polaris Bank in Lagos over alleged violation of workers’ rights and disregard for labour laws.

    The leaders and members of the union, while chanting solidarity songs, expressed their grievances to the management of the bank for laying off over 40 of its workers nationwide without being paid their accrued entitlement and allowances.

    The General Secretary of NUBIFIE, Muhammed Sheikh, lamented that the unjust layoffs are a gross violation of workers’ right to a collectively bargained existing package which is also against labour laws.

    “The new management came on board barely six months ago and instead of settling down to look at how to move the bank forward, they started sacking workers.

    “You cannot have a worker dedicate the better part of his life having worked over 15 years for the progress of your company and then you wake up one morning and decide to terminate their employment giving them only one-month basic salary. That is completely wrong.”

    He stressed that any employer, company or organisation which thinks that it can break the law guiding workers or violate due process as it pertains to Labour, the union will wade in to protect its members.

    Sheikh revealed that the union got reliable information prior to the sacking and that it wrote severally to the management of the bank to desist from it or be mindful of due process if they are planning to sack, but they shunned the warning.

    He stress that as a labour union its members’ rights as workers deserve to be protected at all costs and that NUBIFIE would continue to picket the bank together with the national body of the Nigeria Labour Congress (NLC) until the issue is rectified.

    “NLC is aware of what is going on, members will be joining us if there is no headway. Our civil society coalition partners are also aware, they are waiting in the wings to join us.”

    Olusanmi Eiyitogbe one of the affected workers while expressing his disappointment said that the management gave no reason whatsoever for sacking them. He cried out that he could not even withdraw any money from the one-month salary in lieu of what the bank claimed to have paid.

    The management of Polaris Bank in its response said it was ready to resolve the issues as it presented a letter signed by the bank’s Talent and Culture officer, Olarenwaju Oyekunle, and General Counsel, Segun Tawoju to the leadership of the union inviting them for dialogue.

    The letter read: “Given the cordial relationship that had existed between the bank and the union over the years, we are of the opinion that any concern from either party can be resolved through the round table.

    In view of the above, we request a meeting between the management team of the bank and a delegation of NUBIFIE on June 7, 2023, by 10.00 a.m. at our office to discuss outstanding issues with the view to having a resolution while requesting you recall your members from our business locations.”

    Nigerian Treasury Bills Yield Rises to 7%

    NUBIFE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Ogochukwu Ndubuisi
    • Website
    • Facebook
    • X (Twitter)
    • LinkedIn

    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

    Keep Reading

    CBN Targets N750bn in Upcoming Treasury Bills Auction

    US Dollar Index Slides as Inflation Eases Fed Rate Hike Bets

    XRP Jumps as Ripple Joins BlackRock, J.P. Morgan, Others to Tokenise UK Debt

    Import Duty Exemptions Hit N34trn in 2025 – Customs

    South Africa Rand Firmer on Broad-Based US Dollar Weakness

    Oil Prices Surge on Renewed Energy Crisis, Brent Nears $85

    Add A Comment

    Comments are closed.

    Editors Picks

    CBN Targets N750bn in Upcoming Treasury Bills Auction

    July 14, 2026

    US Dollar Index Slides as Inflation Eases Fed Rate Hike Bets

    July 14, 2026

    XRP Jumps as Ripple Joins BlackRock, J.P. Morgan, Others to Tokenise UK Debt

    July 14, 2026

    Import Duty Exemptions Hit N34trn in 2025 – Customs

    July 14, 2026

    South Africa Rand Firmer on Broad-Based US Dollar Weakness

    July 14, 2026
    Latest Posts

    CBN Targets N750bn in Upcoming Treasury Bills Auction

    July 14, 2026

    US Dollar Index Slides as Inflation Eases Fed Rate Hike Bets

    July 14, 2026

    XRP Jumps as Ripple Joins BlackRock, J.P. Morgan, Others to Tokenise UK Debt

    July 14, 2026

    Import Duty Exemptions Hit N34trn in 2025 – Customs

    July 14, 2026

    South Africa Rand Firmer on Broad-Based US Dollar Weakness

    July 14, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.