On September 8 2022, the Minister of Labour and Employment, Senator Chris Ngige, signed the Guidelines for New Employment on Labour Administration, into law. This was done according to the Law for his office by Section 88 (i) (e) and (g) of the Labour Act, Cap L1, Law of the Federation of Nigeria (LFN) 2004. These Guidelines, were released on Labour and Administration Issues in Contract Staffing/Outsourcing Non-Permanent Workers in Banks, Insurance, and Financial Institutions.
The President, Association of Staff of Banks, Insurance, and Financial Institutions (ASSIBIFI), Oyinkan Olasanoye, spoke at a media briefing in Lagos yesterday. She stated that the released employment guideline promotes good industrial relations principle, and vital conditions of employment to be observed by stakeholders in the Financial Institutions.
The aim of the guideline is to boost job satisfaction and productivity of staff members, eliminate fraudulent acts that come as a result of low income rates, amongst others. There would be regulated conditions of employment, and no permanent employment positions, to avoid issues that could affect the productivity of any organization.
Constant reviews in the areas of wages and salaries, disciplinary measures, health and safety, corporate performance and productivity, will be measured within time frames.