The Organised labour has threatened to shut down banking operations nationwide by March 31, 2020 if employers in banking sector did not review the Collective Bargaining Agreement (CBA) in line with extant law. Labour unions, under the aegis of the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) and Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), have put plans together to ground the sector in April if employers fail to agree to the bargaining terms. She noted that several letters had been written to the Central Bank of Nigeria (CBN) quoting the banking principle guidelines and sections of the International Labour Organisation (ILO) law where every sector is entitled to a collective agreement. But with the Coronavirus disease and other many viral diseases that were not put into consideration, the need for collective agreement, Olasanoye said, was pertinent. But if nothing is done till March 31, there will be a world press conference organised by NLC, TUC, NUBIFIE and ASSBIFI, after that we will shut down financial institutions in the country in April.”

Source: The Guardian March 19, 2020 03:45 UTC