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Fraud: Financial institutions’staff to adopt whistle blowing

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By Providence Emmanuel
FOLLOWING growing complaints by customers of financial institutions especially banks as well as fraud reports from the regulatory authorities, senior officers of the sector under the umbrella trade union, the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) may have begun the process of deploying whistle blowing windows in addressing the issues.

Disclosing this at an interactive session with stakeholders in the financial sector, National President, ASSIBIFI, Mrs. Oyinkan Olasanoye, said, “We will be entrenching sound corporate governance practice in our various institutions, as well as utilizing the window of whistle blowing in addressing issues of concern in the financial sector on fraudulent activities.”

She said the association would be pushing for industrial peace and harmony while creating a well developed, disciplined and responsive workforce that will increase individual productivity and that of the organization. Against the backdrop of retrenchments in the sector, Olasanoye said downsizing and retrenchment should not be the first port of call at a time when the country is experiencing harsh economic condition.

She stated: “We believe that there are ways employees and employers would not suffer during this critical period of economic crisis without burning each other. We believe that instead of lamenting over this present Nigeria macro economic crisis which has an adverse effect on our sector, we should use the opportunity to reinvent our strategic partnership. This ASSBIFI believes, will enhance relationship, attitudes and staff welfare for improved productivity and better deal for all stakeholders.”

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