The House of Representatives has urged the Central Bank of Nigeria (CBN) to penalize commercial banks that fail to convert all casual workers to permanent staff without delay.

The Green Chamber urged all commercial banks to convert all casual workers to permanent staff.

The resolutions followed the consideration of motion moved by Amobi Akintola (APC, Osun) during Wednesday’s plenary.

According to Akintola, most of the banks are raking in billions as profit but equally continue to casualize workers.

Akintola explained that “prior to the emergence of new generation banks in Nigeria, staff of banks were usually full time workers and entitled to series of benefits from the banks they worked for, including promotions, health packages, productivity, life insurance policies, housing allowances, wardrobe allowances, feeding allowances etc. which made banking jobs enviable work for all and sundry in the country;

“That with the advent of new generation banks in the country, so many things changed in the banking industry but despite all the challenges being faced by the new generation banks, the financial sector still remains one of the most viable sectors of the Nigerian economy with each of the banks having a minimum of twenty-five billion naira only (N25, 000,000,000) as its capital base.”

He stated further that “In 2017, Guaranty Trust Bank declared a profit before tax of one hundred and eighty-six billion naira only (N186,000,000,000) followed by Zenith Bank Plc, which in the same financial year declared a profit before tax of one hundred and seventy-three billion naira only (N173,000,000,000) while Access Bank Plc came third with a profit of eighty billion naira (N80,000,000,000) and by the end of that year, all the banks in Nigeria had declared jumbo profits, a situation that was repeated in 2018 when the banks made huge profits;

“Commissions and charges that banks had raked in as at September 30, 2019 were over seven hundred billion naira (N700,000,000,000), without considering money generated from loans, advances and other portfolio investments of the banks, evidencing the lucrative nature of banking business.”

The lawmaker linked uptick in fraud in the banking sector to the casualization of workers in the sector.

“Despite the huge profits being made by commercial banks, they still casualize most of their core operational staff, as (90) percent of bank workers are casual staff, a development that is an act of exploitation of the unemployed youths;

“Core operations of banks like tellering customer service, relationship management, marketing, business development, internal controls etc are being handled by contract staff who are not entitled to promotion, health care services, utility allowances, productivity etc, thus making them to be virtual slaves within the banking sector as six months ago, Eco Bank laid off over a thousand casual staff;

“The practice of casualization of staff is causing a rise in fraud rate perpetrated by staff and also psychological trauma among those set of staff to the extent that a contract staff committed suicide in 2010 when he was retrenched by WEMA Bank without any compensation and in another incidence few days ago, during a robbery attack in Ekiti State on Thursday November 21, 2019, the Police explained how a CCTV footage exposed a bank staff involved in the robbery operation.”

The House, therefore, mandated the Committee on Banking and Currency to interface with commercial banks on the need to stop casualization of their core operational staff and also mandated the Committee on Legislative Compliance to ensure compliance.

Source: https://dailypost.ng/2019/12/04/reps-want-cbn-to-sanction-banks-casualizing-staff/amp/

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Ok seen

Great

It is not by force to permanent a worker, we have casual workers all over the world, to permanent a worker is entirely the choice of the employee, they consider many things before doing that, like your dedication to work, ability to upsale, and even the amount of income generated by the establishment etc.

What about those already terminated

The govt is not serious

SarkinYarki:
The govt is not serious

Whichever way, this one has vowed to always wail.

From the time he used to even say something considerable to a point of typing completely gibberish. If not, what exactly is wrong with the directive that banks should convert casual workers to permanent as always being clamoured for by young men and women in the banking industry?

Do you know what makes your case very funny? There is ABSOLUTELY NOTHING you can do other than this endless wailing on nairaland and a tiny drop of water in the ocean is no less significant that.

Even wailers that never claim being wealthy are not this noisy. Meanwhile, whichever of the monikers you use, you still remain you. Either the salamrushdie or the farahaideed or this sarkinyarki.

Freestainworld:
It is not by force to permanent a worker, we have casual workers all over the world, to permanent a worker is entirely the choice of the employee, they consider many things before doing that, like your dedication to work, ability to upsale, and even the amount of income generated by the establishment etc.

Since the directive is coming from this administration, you can call it a retrogressive move. Infact, you can even say improvement of staff welfare in the private sector is a wicked policy if attempt is made by the fed govt to that effect since that will force UN to direct buhari to hand over to Atiku.

Very funny thinking this one is most likely counted among the youths making a lot of noise when some of these banks were using more of corp members for cheap labour. Smh.

The government should take solid action instead of issuing directives that would eventually be ignored by the executive, the CBN and the banks. Devilish lying idiots .

Nice one but should be extended to other sectors cos this contract staffs work like elephants and eat like ants. God is about to butter their bread

According to Akintola, most of the banks are raking in billions as profit but equally continue to casualize workers.

This is true.

But do not forget that some of the workers may lose their jobs, if the banks are forced to employ their casual staff as permanent. They sure know how to cut cost.

Even the government use casual staff to teach in schools, these days.

.................... a tall order and a dream that would not come to fruition so soon.
it seems those legislators fail to realize the head at CBN is a banker and a strong stake holder in one of the leading banks in Nigeria.
this is what happens when you have the wrong personnel manning post and positions.
this is meant to be the calling of the ministry of labour and productivity. like I earlier said, what would the minister do when knows nothing about the ministry he heads.
the workers union are so corrupt they look away from such things that matters but can bark and bite when it comes to fighting government over salaries.

700,000,000,000? so all this N65 no be small money o

Ok

Anytime you read "has urged" from this clueless reps, don't bother reading the entire story, just ignore.

g

Their bank their policy

Freestainworld:
It is not by force to permanent a worker, we have casual workers all over the world, to permanent a worker is entirely the choice of the employee, they consider many things before doing that, like your dedication to work, ability to upsale, and even the amount of income generated by the establishment etc.

Are you based in Nigeria? Have you ever been a casual staff?

Keep making policies that will make many lose their job. 9th Assembly has nothing to offer

They need to amend our labour laws to stipulate a maximum period of two years for contract employment after which the employee should be converted to full staff.

This one is very necessary... Imagine banks like GT, Access, Sterling and co, when you enter their branches almost 90% of their tellers are contract staff and their pay is not up to 90k/month.

Casualizing Bank Staff
simply means Abuse of Labor.

Thank you.

what about factory workers

What about multi national and construction companies doing same?

Always issuing directives, no action.