The Federal Ministry of Labour and Employment has released for implementation the Guidelines on Labour and Administration Issues in Contract Staffing/Outsourcing Non-Permanent Workers in Banks, Insurance and Financial Institutions.
The Guidelines was signed into law on September, 8 by the Honourable Minister of Labour and Employment, Dr. Chris N. Ngige, pursuant to the powers conferred on the Honourable Minister of Labour and Employment by Section 88 (i) (e) and (g) of the Labour Act, Cap L1, Laws of the Federation of Nigeria (LFN) 2004.
Speaking at a media briefing in Lagos yesterday, the President of Association of Senior Staff of Banks, Insurance and Financial Institutions, (ASSIBIFI), Oyinkan Olasanoye, said the employment guideline provides in clear forms good industrial relations principles and key terms and conditions of employment to be observed by stakeholders in the Banks, Insurance and Financial Institutions.
She further explained that the identified principles include entry requirement and minimum pay for non-permanent employees, career path and development, the right to unionise and to collective bargaining, trade dispute resolution procedures, and disciplinary procedure, compliance with standards and labour requirement and exit procedure and benefits for the workers.
Olasanoye remarked that the guideline would improve job satisfaction and staff performance, reduce incidences of frauds traceable to discontented casual workers in the financial sector and generally reduce exploitation and other unfair labour practices capable of escalating industrial conflicts and crises in the work place.
She added that the guideline would regulate conditions of employment and standardize non-permanent employment, especially in the areas of career progression, salaries and wages, disciplinary measures, health and safety, corporate performance and productivity.