ASSBIFI Faults Mass Sack As Solution To Economic Recession

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has decried massive retrenchment of workers and closures of companies as a result of the economic recession in the country.

Speaking at an interactive session with other stakeholders in the financial sector, President of the union, Oyinkan Olasanoye said such measure would not nip recession in the bud but would rather stunt the economic development of the country.

She said: “ASSBIFI believes that these derivatives should not be seen as the solution to the present problems. “We believe that there are ways employees and employers would not suffer during these critical periods of an economic crisis without burning each other.”

Oyinkan, therefore urges government to, instead of lamenting over the present Nigeria macroeconomic crisis which has had an adverse effect on every sector, should use the opportunity to reinvent strategic partnership.

She said if partnerships are done in the right way, it will enhance relationship, attitudes and staff welfare for improved productivity and a better deal for all stakeholders.

Oyinkan said one of the strategies that will keep workers motivated towards the common goal is to acknowledge whatever idea they present and as well empower them to feel that their opinions and ideas are worthy of consideration.

“ASSFIBI has always and will always explore dialogue in resolving issues. We all are the owners of this sector and we want it to survive. Thus, we reiterate our commitment to the pursuit of continuous industrial peace and harmony for our collective good,” she added.

She then pledged that the association will not encourage indolence from members at their primary places of assignment or indulge in any issue that is not in the interest of the association.

She added: “I am optimistic that the outcome of this interactive session will birth the development of a blueprint for our economic recovery, growth and development in the financial sector and Nigeria at large.”