Monday, 04 November 2019 06:01

ASSBIFI lament as Banking sector’s casual, contract staffing hits 65 per cent

THE Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has lamented that casual, contract and outsourced staffing in the banking sector  has hit about 65 per cent.

This, according to the union, implies that only 35 per cent are engaged as core employees.


Its President, Comrade Oyinkansola Olasanoye, urged the Federal Government to use decent work as an action to bring about  growth and build a new global economy that puts people first without struggling for a living minimum wage and a pay rise for all workers.

She said this was necessary because more workers are slipping into extreme poverty.

“In consideration of the statistics we have, at the moment, casual, contract and outsourced staff in the banking sector stands at about 65 per cent. The implication is that, of the total workforce in the nation’s banking sector, only 35 per cent are engaged as core staff. There are currently about 32 banks in Nigeria.

“The statistics is not only frightening, but it has a grave implication for the sector, especially given that this category of workers are denied basic rights and treated shabbily. We are really pushing for the exploitative trend to be addressed in the interest of banking,”  she said.

Olasanoye said with global economic crisis hitting workers hard in the country, a work can only be decent when it has fair income that enhances workers standard of living, adding that it is safe and secured, with social protection for the family without greedy corporation setting the rule of the economy.

“This is why we had for the umpteenth time implored all workers to come together as one in solidarity to condemn precarious work, condemn slave labour, condemn insecurity, and condemn unfair wages and all forms of salary indirect reduction by whatever names and all unfair labour practices. Let us all say no to corporate greed, let’s all demand for living minimum wages, and a pay rise to all workers.

“We have never tolerated casualisation of workers and contract staff which are prevalent in the finance sector. We are by each passing day frowning against the situation where employers shortchange and exploit workers,” she said.


She said ASSBIFI has over the years been involved in calling for decent work conditions and environment for workers.

She said the union believes that when there is a decent work environment, good wage, good conditions of service and social amenities, workers will be at peace and produce more and keep the organisation going.

She said: “Looking at it from the viewpoint of the prevalence of casualisation and contract staffing, I can assure you that we aim at calling on the Central Bank of Nigeria (CBN), Chartered Institute of Bankers of Nigeria (CIBN) and Nigeria Employer’s Consultative Association (NECA) to intervene in the growing incidence of casualisation and contract staffing in the nation’s financial sector, especially in banking the banking sector.




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