23-07-2009 The Governemnt of the Federal republic of Nigeria in the last regime, under the leadership of President Olusegun Obasanjo through survey discovered that government's bill on public servants was much and so felt that the way out is to introduce a policy called the MONETIZATION OF FRINGE BENEFITS AND INCENTIVES to public officers. This was signed into law in 2004.
The policy brought about job losses and withdrawal of official vehicles to the polls. Civil Servants no longer enjoy government quarters and some other benefits were denied, all in the name of this MONETIZATION POLICY.
Entitlements that were monetized was then paid as cash to public servants. This money was supposed to be paid to all Federal Government's Ministries, Parastatals and Agencies.
However, in the course of this payment, all the parastatals were not paid. This lingered on until Labour in year 2007 confronted the government with a strike threat, the government then promised to input the amount involved in the year 2008 budget. This, they fail to do. Labour on a bargaining table strongly warned that if this money is not in 2009 budget, it will lead to a showdown by workers.
In year 2009, all the Twenty-Five (25) Labour Unions whose members two years Monetization Arrears were pending called out for strike. The strike commenced on the 7th of July, 2009 and ended after an agreement has been reached on the 14th of July, 2009.
However, it was agreed that 50% of the sum total will be paid between Monday 20th through 24th July, 2009. The other half will be included in the year 2010 budget and paid in the same year.
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