The Association of Senior Staff of Banks, Insurance and Financial Institutions has called for reforms to Nigeria’s trade union legislation and the immediate renewal of its sector-wide Collective Bargaining Agreement, which it said has remained overdue since 2007.
Acting National President of ASSBIFI, Isaac Adesina, made the call during the association’s commemoration of the 2026 World Day for Decent Work in Alausa, Lagos.
Adesina said provisions of the Trade Union Act, particularly Section 12(4) on voluntarism, needed to be reviewed to prevent what he described as the misuse of the provision by some employers.
According to him, some employers have relied on the provision to discourage, persuade or pressure employees against joining trade unions.
He also expressed concern over the prolonged delay in renewing the ASSBIFI Sector-Wide Collective Bargaining Agreement, alleging that attempts to renegotiate the agreement had faced resistance from employers and management across the banking, insurance and financial services sectors.
ASSBIFI urged relevant stakeholders to resolve the issue and establish an updated framework capable of addressing the evolving conditions of workers in the sector.
The association further called on the Federal Government to ratify International Labour Organisation Convention 158, which deals with termination of employment.
Adesina noted that Nigerian courts had relied on principles contained in the convention when resolving labour-related disputes, arguing that formal ratification would strengthen workers’ protection.
He also appealed to the Central Bank of Nigeria, the National Insurance Commission and other regulatory bodies to incorporate compliance with decent-work standards into corporate governance requirements for regulated organisations.
On employee benefits, ASSBIFI urged employers to honour gratuity obligations to eligible workers, following recent government directives. The association criticised the withdrawal of gratuity arrangements by some employers in the organised private sector.
Adesina said the demands were driven by the need to strengthen workers’ rights and promote decent employment conditions, reiterating the association’s emphasis on collective bargaining as a means of securing better outcomes for employees.
Young workers face growing pressures
Also speaking on the occasion, the Precision, Electrical and Related Equipment Senior Staff Association called for improved wages, better working environments and policies that guarantee decent employment, particularly for young Nigerians.
Its National President, Comrade Rufus Olusesan, said the theme of the 2026 World Day for Decent Work, “Young Workers Organizing for the Future,” was particularly relevant to the Nigerian labour market.
Olusesan argued that employment should provide workers with dignity and security rather than merely serve as a source of income.
He identified precarious employment, inadequate wages, migration pressures associated with the “Japa syndrome” and exploitation within the digital economy as some of the challenges confronting young workers.
According to him, decent work should provide fair remuneration, safe and secure working conditions, social protection and the freedom for employees to organise and participate in decisions affecting their employment.
Both labour groups stressed the importance of stronger worker representation, effective collective bargaining and policies that can improve working conditions as Nigeria seeks to build a more resilient and inclusive workforce.
