The Association of Senior Staff of Banks. Insurance and Financial Institution (ASSBIFI) has implored the Central Bank of Nigeria (CBN), National Insurance Commission (NAICOM) and other supervisory bodies to conduct more extensive analysis on the consequential suffering and exploitation caused by unfair labour practices being perpetuated by new investors in the country.
Out-going President of the union. Comrade Oyinkanola Olasanoye, who said this at the 11th Triennial National Delegates Conference in Ogere Resort. Ogere Remo in Ogun State, said this has become worrisome considering the increasing number of jobs losses occasioned by the deliberate breaches and violation of national and international labour standard and best practices by the new investors.
She said the sector cannot afford to waste his best minds under the guise of cheap labour.
” We cannot continue sending our best hands into the labour market just because we want to replace them with cheap labour. We likewise request that at mergers, acquisitions or sale or bail out of institutions,extensive and comprehensive investigations and interrogation should be inducted, while the status and validity of such institutions be made public.
“Today. we all know that our best hands In the industry have relocated to Europe and America, while those left behind are either getting prepared to leave or are working under unfair labour conditions. Unempirical but reliable reports show that the financial sec-tor – and most particularly the insurance sector is being taken over by indigenous and foreign money bags that are not committed, lack the experience and skills to sustain develop and grow the sector in the way of evolving global trends. Brain drain has just begun”,she said.
She explained that part of the policy challenges faced in the country today has been how to protect and maintain essential economic activities and public services such as food production, health service and social care.
She added: Today we are living witnesses of the political.social and economic realities of our country. There is insecurity everywhere. poverty is on the increase. our naira is on a free fall. workers are the most hit. Yet. we expect workers to earn less than what is needed for a socially acceptable living standard. Wages should be adjusted according to the cost of living the workers face.We advise the frequency of social dialogue and collective bargaining be accelerated in an inflationary period as this.
“Workers have proved that they are a major factor that promotes and impede the resilience of the provision of the essential services during economic crisis and its anticipated shocks now and in future. We must be equipped enough to remain relevant in the sector and be able to prevent an outright collapse of the economy. that goes to explain the theme of the conference “Building a resilient economy: The role of the trade Union”.
She spoke on the lingering crisis in the Trade Union Congress,saying:” We want to clearly state that ASSBIFI did not factionalise the Trade Union Congress of Nigeria (TUC), and will not violate laid down rules and regulations binding members of the Congress.
“But it should be known and early too, that ASSBIFI will not by any stretch of imagination submit to injustice or subjugation of any form or shape. As we defend workers’ rights and privileges so also we are open to relationship but based on justice , equity, good conscience and integrity”.
