ASSBI seeks repeal of old labour laws

The Association of Senior Staff of Banks  Insurance and Financial Institutions (ASSBIFI) says it is sponsoring  bills  before the National Assembly that will  change labour  laws in the nation’s  banks and other institutions in the financial sector. The president of the union, Comrade Oyinkan Olasanoye, disclosed this to our correspondent on the sideline of ASSBIFI’s […]

The Association of Senior Staff of Banks  Insurance and Financial Institutions (ASSBIFI) says it is sponsoring  bills  before the National Assembly that will  change labour  laws in the nation’s  banks and other institutions in the financial sector.

The president of the union, Comrade Oyinkan Olasanoye, disclosed this to our correspondent on the sideline of ASSBIFI’s  national executive council meeting in Ijebu Ode, Ogun State at the  weekend. 

She said most of the laws regulating to the nation’s financial sector were old and needed repeal.

Comrade Olasanoye added: “Most of the labour laws we are using are those ones put in place prior to independence. There are modern ways of doing things now under the current age of globalization’’. 

She also said that the association is planning to inaugurate job loss insurance scheme in view of the mass sack in the nation’s financial sector.

She said the scheme was an avenue to compensate  members  in case  of  job losses.