World Day for Decent Work: ASSBIFI urges FG to ease workers’ economic hardship
By Eberechi Obinagwam
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has urged the Federal Government to implement policies to alleviate workers’ economic hardship, particularly the rising costs of food, transportation, healthcare, housing , education and provide adequate security.
The Acting National President of ASSBIFI, Comrade Fanimokun Isaac Adesina, made the call at the commemoration of the 2026 World Day for Decent Work, held on Wednesday at the ASSBIFI Events Centre, Alausa, Ikeja, Lagos with the theme: “Young Workers Organizing for the Future.”
Adesina described as unacceptable a situation where the national minimum wage could not adequately meet workers’ basic needs, stressing that workers deserved to be treated with dignity.
He said: “A situation whereby the National Minimum wage cannot buy a bag of rice is absurd, a situation whereby the National Minimum wage cannot pay monthly house rent for an average family of six is absurd, a situation where the National Minimum wage cannot provide three square meals for an average Nigeria family of four for two weeks is nothing but slavery. Workers are not Slaves, we must be treated with the dignity that decent work reflects.”
He said the theme for the year is very apt as it tends to address the existential succession challenges facing trade union in Nigeria and the world of work. “The future of work is no longer in the future, it is here. It is defined by Artificial Intelligence (AI), digitalization, automation, platform economy, Algorithm Management, outsourcing amongst other evolving workplace technologies.”
He also called on banks, insurance companies and other employers to respect workers’ freedom of association and allow them to join trade unions of their choice without intimidation, threats or victimisation in line with the provisions of International Labour Organization (ILO) Conventions 87 on Freedom of Association, 98 on Collective Bargaining and ratification of ILO convention 158 on Termination of Employment.
He further called for renewal of ASSBIFI’s sector-wide collective bargaining agreement, overdue since 2007, decent-work compliance as a corporate governance requirement for regulated institutions and payment of gratuities to deserving employees.
Adesina, however, urged young workers to make themselves responsible by learning digital skills so that they would be in demand.
In her goodwill message, the Zonal Director, South-West and State Controller of the Federal Ministry of Labour and Employment, Mienye Badejo, said the post-recapitalisation era presents both opportunities and uncertainties for young workers in the banking and insurance sectors, stressing the need for their active participation in decision-making, workplace reforms and technological transitions.
She called for secure jobs, continuous skills development and decent work opportunities for young workers and called on stakeholders to work together to ensure that recapitalisation strengthens not only financial institutions but also workers’ careers, institutions and stronger futures for the next generation.
According to her, the Ministry will continue to liaise with all critical stakeholders and push for the review of relevant extant labour laws to make them more compatible with emerging hybrid and flexible working arrangement.
“Meanwhile the tripartite mantra of mutual trust, fairness and respect with focus on continuous consultation among social partners remain the basis for overcoming most of the challenges.
Also, the National President, Precision, Electrical and Related Equipment Senior Staff Association (PERESSA) , Rufus Olusesan called on government to invest in skills, not just certificates, make the economy work for the young and implement policies that create stable jobs, not just palliatives.
He urged young workers to organize and fight for today and their future. “The only job security you have is in your solidarity. Join a trade union, speak up, learn new skills, and demand your seat at the table where decisions about your future are made,” he said.
Adding, “The future will not be gifted to young workers; it must be fought for through sustainable struggle. The struggle for liberation for the working class should not be restricted to work place bread and butter demands alone, the struggle should also be political, in other words, geared towards changing the exploitative capitalist economy into socialist economy wherein the commanding heights of the economy are nationalized and placed under democratic control and management of workers.”
