Assessing the Impact of Macroeconomic Policies on the Economy
European Scientific Journal
May edition vol. 8, No.9
ISSN: 1857 – 7881 (Print)
e - ISSN 1857- 7431
LABOR AND BANKING SECTOR REFORMS IN NIGERIA
Idowu Oluwatoyin Frederick
Department of industrial relations and public administration Lagos state university, Ojo, Nigeria..
Abstract The regime of banking sector reforms leading to recapitalization and consolidation in Nigeria and the consequent merger and or acquisition of existing banks into twenty five (25) by 2005, and later eighteen (18) by 2012 brought along their trails attendant labor problems in terms of educational diversity, job security and productivity, decent employment questions. The study review post consolidation performance of the banking sector to assess the extent to which the sector meets consolidation objective using post development approach. It was found that while the alliance and marriage of seemingly compatible partners are settling down, the society is at the receiving end of the severance of labor and the enlargement of the pool of reserved army of the unemployed. The fall-out therefore is double-edge for the economy and the society.
Keywords: Labor reforms, recapitalization, consolidation and post development
1.0
Introduction Private and public businesses are continually being challenged by performance.
Performance success is very minimal measured on the indices of what Alos (2006) catalogued as: what the customer needs and values, response to environmental changes and impact on the quality of the people. The issue of performance effectiveness or reengineering organisation has preoccupied the minds of organization practitioners, researchers and watchers since 1990s. Therefore, all over the world, many economies had carried out various reforms to ensure effectiveness of the
166
European Scientific Journal
May edition vol. 8, No.9
ISSN: 1857 – 7881 (Print)
e - ISSN 1857- 7431
real sectors. The performance revolution started in the private sector. Its effects spread to the public
May edition vol. 8, No.9
ISSN: 1857 – 7881 (Print)
e - ISSN 1857- 7431
LABOR AND BANKING SECTOR REFORMS IN NIGERIA
Idowu Oluwatoyin Frederick
Department of industrial relations and public administration Lagos state university, Ojo, Nigeria..
Abstract The regime of banking sector reforms leading to recapitalization and consolidation in Nigeria and the consequent merger and or acquisition of existing banks into twenty five (25) by 2005, and later eighteen (18) by 2012 brought along their trails attendant labor problems in terms of educational diversity, job security and productivity, decent employment questions. The study review post consolidation performance of the banking sector to assess the extent to which the sector meets consolidation objective using post development approach. It was found that while the alliance and marriage of seemingly compatible partners are settling down, the society is at the receiving end of the severance of labor and the enlargement of the pool of reserved army of the unemployed. The fall-out therefore is double-edge for the economy and the society.
Keywords: Labor reforms, recapitalization, consolidation and post development
1.0
Introduction Private and public businesses are continually being challenged by performance.
Performance success is very minimal measured on the indices of what Alos (2006) catalogued as: what the customer needs and values, response to environmental changes and impact on the quality of the people. The issue of performance effectiveness or reengineering organisation has preoccupied the minds of organization practitioners, researchers and watchers since 1990s. Therefore, all over the world, many economies had carried out various reforms to ensure effectiveness of the
166
European Scientific Journal
May edition vol. 8, No.9
ISSN: 1857 – 7881 (Print)
e - ISSN 1857- 7431
real sectors. The performance revolution started in the private sector. Its effects spread to the public
References: e - ISSN 1857- 7431 NEW AGE June 16, 2005, Vol