Contract staffing is a modern way of slavery. BANKS must Permanent all contract staff.

Contract staffing is a modern way of slavery. BANKS must Permanent all contract staff.

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Mohammed Kabiru Zakariya started this petition to Central Bank of Nigeria, and

The common practice by Deposit Money Banks (DMBs), to employ more of contract staff than permanent staff is unsafe and unethical, and we call on the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to rein in the deviants. While the practice unconscionably exploits the high level of unemployment in the country, it also exposes the banking industry to fraudulent practices, as the exploited workers vent their anger on the resources put in their care.

When banks employ two equally endowed graduates to do similar jobs, with the permanent staff adequately remunerated, and the contract staff paid peanuts, common sense dictates that those paid peanuts may seek ways to punish their oppressors by stealing what is put in their custody. According to a finding: “the NDIC has frequently noted that its bank examination reports indicate that the high incidences of fraud and forgeries in the banking industry are linked to contract staff.”

It is strange that the two regulatory agencies, the CBN and NDIC, have turned a blind eye to this grave unethical practice, over the years. A report sourced from the Nigeria Bureau of Statistics shows that in the first quarter of 2019, “the total number of contract staff working in commercial banks stood at 45,710, as against 39,822 junior staff, 17,767 senior staff and 170 executive staff.” While the report did not mention the earning of the permanent staff, it is common knowledge that the huge executive perks and packages they are paid are filtered from the blood of the contract staff.

This corporate exploitation must stop, and if the regulatory agencies are too timid to rein in the perfidious bank executives, social and legal pressure should be employed by non-governmental agencies to fight the scourge of exploitation in the banks. In the said report, in 2018, while the total number of contract staff hired by the DMBs increased to 45,238, that of junior staff fell to 41,111. Conversely in 2017 “the DMBs employed a total of 41,580 junior staff compared with 32,394 contract staff, 16,745 senior staff and 204 executive staff.”

While the level in 2017 is still unacceptable, it shows that even when the economy had improved from the recession period, the abuse by the banks increased. Strangely, while the banks have been declaring huge profits and paying huge remunerations to their executive staff, they are comfortable to employ graduate and post-graduate students as contract staff, and pay them peanuts. Yet, the banks are not just commercial enterprises, they are ethical institutions built on fiduciary relationships. So, how can an ethical based institution, run as an exploitation driven organisation?

When its major regulator, the CBN resorts to the status of a mere toothless bull dog by merely warning “DMBs to desist from giving sensitive responsibilities to contract staff, given that such workers often believe they do not have a real stake in the organisation”  instead of demanding responsible human resources standards, we ask, is there any unethical collaboration going on? If there is none, then the regulatory agencies must roll out minimum standards for the DMBs as regards contract employment.

After all, the CBN determines the quality of the management staff employed by banks, so why should it leave other categories of staff so open, when it knows that such category also affects the health of the banking sector. It is common knowledge that the employment of contract staff is outsourced to companies which are well remunerated, and these companies are usually owned by persons in the financial industry. If the regulators remain unconcerned, we urge the Economic and Financial Crimes commission (EFCC) to examine the modus operandi of contract staffing in the banks.

After all, What did the Bank need; Skilled, Experience, Professional and Knowledge of the system. I believed all the contract staff have.

This is pure act of capitalism who who practically exploit people.

Almost every quarterly a Bank declared Billions of Naira as profit, in Nigeria it's unfortunate to explained that they can not permanent a casual staff because they don't want to pay entitlement due for all core staff.

We must fight against this modern slavery.

We suggests this should be Band or take a serious necessary action.

A policy must have to be implemented to address this issues.

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