As the re-capitalisation exercise in the nation's Insurance sector approaches the terminal phase, organised Labour in the nation's financial industry, under the umbrella of Association of Senior Staff of Banks, Insurance, and other Financial Institutions (ASSIBIFI), has tasked the regulator in the sector, National Insurance Commission NAICOM) on the need for insurance companies to work within the ambit of both the International Labour Organisation (ILO) Standards and the nation's Labour and ensure that workers do not fall victims to the reform in the Insurance sector.

ASSBIFI in a presentation at Stakeholders forum on Insurance sector titled; "Employees Disposition and Welfare In the Post-Consolidation Era" noted the unions in the sector must also be carried as contained in NAICOM's Guidelines on Insurance Industry Re-capitalization which Article 6.9 states that "The employees, clients and shareholders in each organisation shall be carried along in the merger and consolidation process".

In a paper presentation signed by Comrades Adeshina Sanni and Javis Eromosele, President and General Secretary of ASSBIFI respectively, the association said as workers' body, it is basically formed to protect the interests of our members, we are naturally concerned about the fate of our members who have invested honest service into the various companies where they are working.

The association warned against de-unionisation of workers, hasty termination of employees as a result of mergers and when it becomes inevitable that some workers have to lose the jobs, due process must be followed to determine their severance benefits among other things.

The presentation read in part: Section 40 of the 1999 Constitution of the Federal Republic of Nigeria guarantees the freedom of association for all Nigerians. Trade Union Act Cap 437 (1990) also recognizes the right of workers to belong to a trade union of their choice. Section 9(6) of the Labour Act also protects workers from discrimination on account of union membership or activities. Convention 87 of the International Labour Organisation (ILO) on the Freedom of Association equally guarantees the right of workers to join or form unions. Part 1 of the Convention requires that "employees and employers must have the right to establish and join organisations of their own choosing without previous authorisation; they must have the right to draw up their constitutions and rules, elect their own representatives" among others. Convention 98 of the ILO further complements Convention 87.

It addresses the right (of workers) to organise and bargain collectively. We make bold to say the presence of unions and their engagement in the management process would have gone a long way in mitigating the mismanagement of some of the companies. Unions all over the world are known to have worked well with management to ensure organisational survival. There is no reason to think that the same result cannot be achieved here. In addition, recognizing unions would guard against arbitrariness and the emergence of an authoritarian, if not hostile, industrial relations' climate. Along this line we submit the inputs of unions representing workers in the industry should have critical inputs into the management of the workplace."

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By Victor Ahiuma-Young
Lagos

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