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By Bimbola Oyesola, [email protected]
It will no longer be business as usual for employers in the financial sector who indulge in outsourcing and contract staffing as the two unions in the sector, the Assocation of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and National Union of Banks Insurance and Financial Employees (NUBIFIE) now have the backing of the Federal Government to organise these set of workers.
Speaking at the unveiling of the Federal Government-approved employment guidelines on labour administration issues in contract staffing and outsourcing of non-permanent workers in banks, insurance and financial institutions in Nigeria during this year’s celebration of Decent Work Day in Lagos, president of ASSBIFI, Oyinkansola Olasanoye, said, the Federal Ministry of Labour and Employment at a ceremony held 29th September, 2022, formally released for implementation the guidelines on Labour and Administration Issues in Contract Staffing/Outsourcing Non-Permanent Workers in Banks, Insurance and Financial Institutions.
The guidelines it was signed into law on 8th September, 2022 by the Minister of Labour and Employment, Dr. Chris Ngige, pursuant to the powers conferred on the Honourable Minister of Labour and Employment by Section 88 (i) (e) and (g) of the Labour Act, Cap L1, Laws of the Federation of Nigeria (LFN) 2004.
Olasanoye noted that the Employment Guidelines provides in clear terms good industrial relations principles and key terms and conditions of employment to be observed by stakeholders in the Banks, Insurance and Financial Institutions.
“The identified principles include entry requirement and minimum pay for non-permanent employees, career path and development, the right to unionize and to collective bargaining, trade dispute resolution procedures, disciplinary procedure, compliance with standards and labour requirement and exit procedure and benefits for the workers.
“The guideline will improve job satisfaction and staff performance, reduce incidences of frauds traceable to discontented casual workers in the financial sector and generally reduce exploitation and other unfair labour practices capable of escalating industrial conflicts and crises in the work place,” she stated.
The ASSBIFI boss reiterated that it will also regulate conditions of employment and standardize non-permanent employment, especially in the areas of career progression, salaries and wages, disciplinary measures, health and safety, corporate performance and productivity.
She explained that the request for a guideline to regulate conditions of employment of non-permanent employees in the financial sector started a decade ago and with the active participation of representatives of the Central Bank of Nigeria (CBN), the Nigeria Labour Congress (NLC), the Trade Union Congress of Nigeria (TUC), the Nigeria Employers Consultative Association (NECA), Federal Ministry of Labour and Employment, Association of Senior Staff of Banks, Insurance and Financial Association (ASSBIFI) and the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE).
She applauded the Minister of Labour and Employment, Dr. Chris Ngige, for accelerating the process which culminated into the unveiling.
She averred that with the signing and approval of this guidelines by government, relevant stakeholders, especially employers in the banks, Insurance and Financial sector, are implored to cooperate and collaborate with focal agencies of government and unions concerned to achieve the objectives of this guidelines and improve industrial relations practices and standards in Nigeria.
She lamented that information from reliable sources revealed that induced frauds, particularly in the banks are perpetuated by disgruntled casual employees, as these employees do not have the training and orientations usually given to the regular employee and also they do not have the sense of belonging because of their poor conditions of employment which opens them to temptation to commit fraud.
“But today, with this guideline, the non-permanent employee can pursue a career line, unionize and draw from benefits of collective bargained agreements,” she added.
She said without doubts, the guidelines will bring fresh breath of life to many in the sector, improve industrial relations, reduce incidence of fraud and increase productivity.
“For this guideline not to get missing or distorted after getting to the National Assembly for gazette informs the main reason for the unveiling “ she said.
