The number of core staff in the banking industry has reportedly hit 35%, as causal and contract staffing in the industry currently stands at 65%. This is according to the Association of Senior Staff of Banks, Insurances and Financial Institutions (ASSBIFI).  

According to the President of ASSBIFIComrade Oyinkansola Olasanoye, a lot of bank workers are sliding into extreme poverty. She admonished the Nigerian government to build a decent working structure which is people-oriented for the industry in order to improve growth and build a new global economy.  

“In consideration of the statistics we have, at the moment, casual, contract and outsourced staff in the banking sector stands at about 65%. The implication is that, of the total workforce in the nation’s banking sector, only 35% 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,” Comrade Olasanoye.  

[READ MORE: Contract Staff across Nigerian Banks hit 46,263 in half-year 2019]

The association stated it believes strongly in good wages, good conditions of social amenities and service, and a decent work environment to encourage productivity in organizations. These are what the association has been calling for over the years.  

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“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 casualization 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,” Comrade Olasanoye.

However, to address this employment crisis and tentatively bring an end to this practice in the sector, the Association of Senior Staff of Banks, Insurances and Financial Institutions stated that it was taking up the issue with the Central Bank of Nigeria (CBN), Chartered Institute of Bankers of Nigeria (CIBN) and Nigeria Employers’ Consultative Association (NECA).

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Meanwhile, according to data obtained from Nigerian Bureau of Statistics as of June 2019 and as earlier published on Nairametrics, the number of contract staff stood at 46,263 or 44.3% across Nigerian banks.  

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