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TSA: NUBIFIE appeals to FG to inject funds into financial system

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) on Friday appealed to the Federal Government to inject funds into the financial system.

Mr Musa Danjuma, NUBIFIE President, said this in Lagos at the 7th Quadrennial Delegates Conference of the union.

According to him, government should plough back some of the revenue saved through the Treasury Single Account Policy (TSA) to critical sectors of the economy.

He said that the union was in support of the TSA policy, but the financial sector had witnessed various interventions that had impacted on economic and social status of workers.

“The finance industry is the most monitored in recent years through various interventionary measures by regulatory authorities with implications on socio-economic development and work,” Danjuma said.

He said that the issue of merger and acquisition led to job losses due to re-alignment and restructuring in banks and insurance companies.

The union president said that money should be released to boost the banks since TSA policy created liquidity challenges for financial institutions.

Mr Joe Ajaero, the President of United Labour Congress (ULC), urged delegates to elect leaders that would move the union forward.

“A wasted today is a bleak future! I therefore urge you today to make the right choices, the one that will make NUBIFIE a great union, thus making you proud of yourself.

“ I commend your present leadership for their courage, vision and for listening to our demands that right processes be enthroned.” Ajaero said.

He advised members to conduct themselves peacefully as elected leaders that would continue the good works that were beginning to be seen in their union. (NAN)