Casual or “contract” workers with the five banks whose managements we recently sacked by the CBN have appealed to the new managements to regularize their employment status by converting then from contract to regular staff.

Staffers from the affected banks say at least one executive director in each of those banks own the firm which engaged them on contract terms and pay them for less then what the regular staff get, a salary they describe as “a salve wage”.

A substantial percentage of the bankers noted that they were unnecessarily exposed to huge cash against low pay. In their opinion, the managements deliberately keep their employment status as such for their selfish benefits.

Speaking on condition of anonymity, one of them who work for a first – generation bank said, “The contract staff are allowed to work everywhere like regular staff. There is no control.

We handle big transactions daily that some one of our standing is not supposed to have access to.”

The Tide learnt that some of the contract staff work at the treasury as well as carry out some other sensitive duties in these banks. They are equally allowed to transact business worth billions of naira in some instances.

We also learnt that the contract staff phenomenon is prominent with Oceanic Bank, Union Bank, and Intercontinental bank.

Others with huge percentage of contract staff are United Bank for Africa, Skye Bank and Access Bank. Many of these contract staff are as qualified or better qualified than their regular counterparts yet the banks refused to regularise their employment status, preferring to exploit them. Skye bank, it was discovered that it is notorious for this practice. Some of its contract staff have spent six or more years in one position with no hope of promotion or conversion. They are regularly looked for when a regular position needed to be filled, even when they are qualified for the post. A contract worker with B.Sc degree, who had spent over six years in Skye Bank, is paid less than N1 million per annum while the start off package for an entry level employee is about N3 million.

The source said he had made several attempts to be converted to a regular staff or worker to no avail.

“We are only here to fill the gap for some candidates the executive directors are bringing,” stated the contract staff. “At least, I know that one of the executive directors that was sacked owned the recruiting firm that recruited me,” another casual worker said. Others contented that the situation was almost similar in all the banks in the industry where the managing director or one of the directors owns the recruiting firm that overseees their employment.

They complained that their appointments get terminated once the directors bring their own people, who they have retained the openings for, as regulars.

The contract staff also alleged that the remuneration is low and that is why they prefer to keep most staff on the contract list. A source at the treasury of one of these banks said.

They once made the same mistake with one dispatch rider who falsified an account to deceive CBN officials and immediately went to cash the money as soon as it was paid into his account and disappeared. The man has not been found since then”.

They appealed for a review of their employment with the banks in accordance with the CBN stand on contract staff in banks.