Move Aims to Promote Permanent Employment and Strengthen Labor Standards in Nigeria’s Banking SectorThe House of Representatives has initiated a bill seeking to prohibit banks from employing casual and contract staff, a move lawmakers say is designed to protect workers’ rights and promote permanent employment within Nigeria’s banking sector.
According to lawmakers sponsoring the legislation, the use of temporary staff in banks has raised concerns over job insecurity, inadequate benefits, and inconsistent labor practices. The proposed measure mandates that banks prioritize full-time employment for all staff, ensuring better social protection, job stability, and adherence to labor laws.
“The welfare of workers is critical to national development. This bill is a step towards ensuring that employees in our banking institutions enjoy fair treatment and job security,” a member of the House committee on banking and finance said.
If passed, the legislation will compel banks across the country to review their recruitment policies, phasing out casual and contract roles and converting eligible staff to permanent positions. Advocates of the bill argue that this reform will also enhance productivity and strengthen employee morale in the sector.
Industry stakeholders are expected to engage with lawmakers in the coming weeks to discuss the potential impact of the bill on operational costs and workforce management.
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