Lagos (WorldStage Newsonline)-- Association of Banks, Insurance and Financial Institutions (ASSBIFI) and National Union of Banks, Insurance and Financial Institutions (NUBIFIE) have directed all Principal National Officers and Units Presidents/Secretaries to embark on the national strike declared by the two labour centres- Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and civil society groups aimed to pressure the government to reverse the removal of fuel subsidy by the Federal Government.

Their major grouse against the Federal Government's withdrawal of subsidy was that government and labour were still negotiating when the policy was announced.

The labour leaders argued that if government had the interest of the masses at heart, it was supposed to implement the policy gradually.

At a press briefing on Friday, NUBIFIE's President, Comrade Peter Okafor said, ''if government was sincere about the policy, the ongoing negotiation between government and labour could have been allowed to reach a logical conclusion.''

According him, it was unfair on the part of government to at a time when the long negotiated national minimum wage had not been fully implemented, gave Nigerians over 150 per cent hike on petrol as a New Year gift.

His words: “This IMF/World Bank and cabal's policy has no human face as far as the Nigerian environment is concerned. It is a betrayal of our collective aspirations as a nation. From all indications, the government has appeared disinterested in the popular feelings of the majority of her people going by the obstinate resolve and the resources it deployed in trying to force the policy on Nigerians.''

Comrade Okafor reiterated that it was obvious that from the way Nigerians trooped out to protest the policy, it was not only labour that was against it, but the masses too.

NUBIFIE stated that over the years, government had initiated policies and set up committees mostly of eminent persons either to actualise or safeguard such policies but, the same corrupt system always undermined both the committees as well as policies.

The union expressed fear wondering why a clique should hijack the subsidy policy meant to benefit the poor masses of the country, and government failed to bring them to book for such a serious national economic crime.

“How are we sure they will not do same to this one? Nigerians have been taken for granted by previous administrations. That is why we no longer trust them,” he said.

Also speaking, NUBIFIE's General Secretary, Comrade Deji Kamson Olaniyan expressed worry, saying that no doubt the policy was going to further impoverish and deteriorate the living standard of living of Nigerians. “Businesses will suffer, charges on bank services will increase because power generation will cost more, and will create disincentive for lending to small scale businesses and discourage entrepreneurship etc.”

He lamented that the financial institutions had suffered so much no thanks to government policies, adding this would further worsen issues.

In the same vein, ASSBIFI's National President, Sunday Olusoji Salako said, following the resolution of the Joint National Executive Council meetings of NLC and TUC, the union reiterated that should government fail to reverse the pump price of fuel to N65.00 per litre before the midnight of 8th, January, 2012, it will join the strike.

It therefore charged members to commence mobilisation in readiness for the indefinite strike.

“During this mass action, our banks, insurance companies and other financial institutions will not open for business and all National as well as unit leaders are advised to be in touch with the National Secretariat for subsequent directives as may be necessary. Your total support and strict adherence to this directive is highly solicited due to the sensitive nature of our industry in the national economy,” said Salako.

While the unions enjoined members to join the strike action, it warned employers in the financial sector not to make attempt at sabotaging their effort as that would not be tolerated.

By Prince Okedinachi (pokedinachi@yahoo.com)