Casualisation remains challenge in financial institutions

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), has identified casualisation as a major challenge in the nation’s financial institutions.

The association’s President, Mrs Oyinkansola Olasanoye, made the assertions at a forum in Lagos on Thursday, saying that casual workers in the institutions were inadequately compensated in terms of salaries and allowances.

According to Olasanoye, some of the fraudulent activities in the sector may be due to the fact that these workers are not professionals, well-trained and are embittered as a result of inadequate compensation.

“Our major problem has been casualisation, because in every bank, insurance company, financial institution in Nigeria as at today, almost 80 per cent of the workers there are casual workers.

“Presently, the Labour Law Act made provisions that there will be contract staff, but our battle is that those contract staff should be allowed to have dignity of labour and be adequately compensated.


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