SOStainabilityWeekly
Edited by Oke Epia, E-mail: sostainability01@gmail.com | WhatsApp: +234 8034000706
Washing and Hushing
Last week, the conscience of Nigeria’s banking and monetary companies sector was scoured by a shrill name to finish modern-day slavery. The Association of Senior Staff of Banks, Insurances and Financial Institutions (ASSBIFI) demanded an instantaneous finish to the casualisation and outsourcing of jobs. Acting National President of the apex union of staff in the sector, Mr. Fanimokun Adesina, used the 2026 World Day for Decent Work to restate what Nigeria already is aware of however shamelessly glosses over.
“Today in the banks, insurance and financial institutions, we have witnessed significant displacement of permanent decent work with casual, contract employees, and third-party outsourcing,” he mentioned, including: “Graduates with commanding degrees and professional qualifications are employed as contract and casual staff with no pension, no health cover, no job security, no collective bargaining rights, and sometimes the worker is compelled to sign-off his freedom of association entitlement before or during employment. This is not only indecent work, but modern-day slavery.”
Nigeria’s banking sector is one of the most boisterous and affluent on the continent. The banks like to showcase their ESG credentials and trumpet each laurel from nationwide and international assessments. However, the demand by ASSBIFI exposes the soiled underbelly of establishments that presumably thrive on belief and rectitude. Hopefully, related regulatory authorities, particularly the federal ministry of labour and employment, are woke up to do one thing about this unwholesome observe shortly. This web page will delve extra into this in subsequent editions.
