'It's evil!' MURIC warns banks against downsizing

The Muslim Rights Concern (MURIC), an Islamic group in Nigeria, has cautioned the various banks against lay-off in the banking sector after the lockdown due to Coronavirus.

In their view, it will be evil for these banks to sack their staff after they have made huge profits.

In a press release signed by it Director, Professor Ishaq Akintola, they said;

“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. Nobody seems to care about the welfare of the proletariat,” the Islamic human rights group noted.

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.

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?

You cannot shoot at rocks without getting ricochets. It will affect those bank chief executives one way or the other since no man is an island, entire of himself.

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