Senator Adams Oshiomhole has accused Nigerian banks of exploiting their workers by employing the majority on short-term contracts, thereby denying them job security and basic benefits. Speaking as a federal lawmaker representing Edo North Senatorial District, Oshiomhole revealed that about 60% of bank employees operate under contract arrangements rather than being direct employees of the banks.
Oshiomhole condemned the practice as illegal and immoral, describing it as the banks’ creation of secondary employment agencies that recruit staff for lesser wages without offering gratuity or social protections. “These employees dress well like bankers but receive no gratuity when dismissed,” he stated, urging a halt to such exploitative labor practices.
He further criticized labor unions for being compromised, alleging that some unions receive “protection fees” from employers and fail to genuinely represent contract workers. Oshiomhole called on labor authorities and government agencies to investigate and regulate these practices to safeguard workers' rights.
The senator also weighed in on broader labor issues in Nigeria’s private sector, warning that such contract employment undermines workers' welfare and economic stability. His comments come amid ongoing debates over labor rights and reforms aimed at improving workers’ conditions in the country.