The Nigerian Labour Congress has faulted what it describes as the “stress and strain of outrageous deposit or investment targets” in Nigeria’s banking institutions.
Speaking during the 2022 Delegates Conference of Nigeria Union of Banks Insurance and Financial Institutions Employees, the NLC President, Ayuba Wabba, described the practice as “modern-day slavery” and as also against conditions precedent for banking operations’ license in Nigeria.
He said, “There is also the issue of subjecting bank workers to the stress and strain of outrageous deposit or investment targets. Such pressure has forced many bank workers into very unethical and immoral conduct just to satisfy the expectations of management. It is important to make the point loud and clear that this unfair, degrading, and dehumanizing culture that has become entrenched in our banking system is not only akin to “modern-day slavery” but are also against conditions precedent for banking operations license in Nigeria and certainly offensive to our culture and tradition and laws.”
