Labor Groups Urge Government to Ratify ILO Convention 158
What happened
The Association of Senior Staff of Banks, Insurance and Financial Institutions called for the Federal Government to ratify International Labour Organisation Convention 158 on Termination of Employment. The group also demanded an urgent review of the Trade Union Act and the renewal of its sector-wide Collective Bargaining Agreement, which has been pending since 2007.
Why it matters
The demands pressure regulatory agencies, including the Central Bank of Nigeria and the National Insurance Commission, to incorporate decent work standards into corporate governance requirements. This relates directly to labor standards and the operational environment of the financial sector in Nigeria.
Who's involved
- federal governmentThe government urged to ratify ILO Convention 158 and review labor laws.
- NigeriaThe sovereign state where the labor demands and legislative review are being called for.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- federal governmentSpeculative
The Federal Government could face increased legislative costs or changes to labor regulations if it ratifies the convention or reviews the Trade Union Act.
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The entities involved
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federal government
highest, central, level of government in a federation