By Charles Okonji
Deeply concerned about the current situation of its members, the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has called for an urgent review of the Trade Union Act and the renewal of its sector-wide Collective Bargaining Agreement, which it said has been due since 2007.
Speaking on Wednesday at the association’s 2026 commemoration of the World Day for Decent Work, held at the ASSBIFI Events Centre, Alausa-Ikeja, Lagos, the National President of ASSBIFI, Comrade Isaac Adesina, noted that the provision on voluntarism contained in Section 12(4) of the Trade Union Act had been abused by some employers to threaten, persuade and dissuade workers from joining trade unions.
He expressed the need for urgent review and renewal of the ASSBIFI Sector-Wide Collective Bargaining Agreement, adding that it had been due for renewal since 2007.
He emphasised that initial efforts to renew the agreement had been frustrated by management and employers in the banking, insurance and financial sectors.
The ASSBIFI Acting President urged the Federal Government to ratify International Labour Organisation Convention 158 on Termination of Employment, noting that Nigerian courts had recognised and applied its principles in resolving labour disputes.
He appealed to the Central Bank of Nigeria (CBN), National Insurance Commission (NAICOM) and other regulatory agencies to make compliance with decent work standards a corporate governance requirement for organisations.
He implored also employers to consider payment of gratuity to deserving employees, in line with the recent government directive, arguing that the withdrawal of gratuity schemes by some employers in the organised private sector was wrongful.
He noted that the demands were aimed at strengthening workers’ rights and ensuring decent work, stressing that “together we bargain, divided we beg” remained ASSBIFI’s guiding principle.
On his part, the Precision, Electrical and Related Equipment Senior Staff Association (PERESSA) demanded fair wages, improved working conditions and policies that guarantee decent work for Nigerian workers, particularly young people.
The National President of PERESSA, Comrade Rufus Olusesan, said the theme of the 2026 World Day for Decent Work, “Young Workers Organizing for the Future,” was timely, stressing that work must provide dignity and not merely income.
He averred that young Nigerian workers were confronted with precarious employment, low wages, the “Japa syndrome” and exploitation in the digital economy.
He pointed out that decent work must be productive, provide fair income, offer safe and secure working conditions and social protection, while allowing workers to organise and have a voice in decisions affecting them.
