The Federal Government has approved the disputed fringe benefits for Central Bank workers thereby averting strike action that had loomed for days.
According to a reliable CBN source, the secretary to the federal government sent a message, on Monday to the Joint Consultative Committee assuring them that the fringe benefits in dispute had been approved by the president-in-council.
With this assurance the Joint Consultative Committee was said to have successfully appealed to the workers who were already poised for a showdown with the management.
Throughout Monday, the Joint Consultative Committee held a close door meeting with the CBN governor.
The workers are demanding the immediate implementation of the agreement reached by the Joint Consultative Committee and CBN management on their new fringe benefits which sources said other banks workers are already enjoying.
The Central Bank Joint Consultative Committee, The Republic gathered had negotiated with CBN authority for the fringe benefits.
The fringe benefit was then sent to the Ministry of Employment, Labour and Productivity for approval. The ministry is said to have passed the proposal to the president-in-council for final approval.
The source said that the document had been in government circles for months and all attempts to get the approval were to no avail.
The Central Bank is one of the several institutions performing essential and highly sensitive services in the country which decree 31 promulgated in 1973 prohibited trade unionism.
The source said that the decree however provided for the establishment of staff-management joint consultative committees.
Through it, the CBN management interprets its policies on staff matters and entertains representatives from staff on matters affecting them.
The sources further told The Republic that in a case of deadlock, the Joint Consultative Committee decisions may be referred to the board of directors of CBN.
According to the CBN source, the Joint Consultative Committee had recorded tremendous success in handling industrial relation matters.
So far the body has achieved the establishment of a training school, introduction of staff bus service which today constitute significant fringe benefits for junior staff, the staff canteen, improved medical scheme, enhanced overtime payment for junior staff and the extension of official housing scheme to cover intermediate and junior management staff.
What hampers JCC is that it lacks the power to declare trade dispute.