News
Senator Accuses Banks of Turning Female Marketers to Sex Slaves
The Senate, on Thursday, considered a bill seeking to stop employers in the private and public sectors from engaging employable Nigerian graduates as casual workers.
The Prohibition of Casualization Bill 2020, is sponsored by Senator Ayo Akinyelure (PDP, Ondo Central).
Akinyelure while citing the banking industry as a hub for casualisation, blamed banks for turning female marketers into harlots and sexual slaves in a desperate attempt by them to keep their jobs and meet unrealistic deposit targets.
“Casualization of Nigerian graduates in the Nigerian labour market has become a subject of great concern as more workers continue to groan under this immoral strategy of cutting cost by employers rendering them inferior to their counterpart in other countries of the world.” He said
According to him, “Statistics from the Nigeria Labour Congress shows that many workers in the telecommunications, oil and gas sectors are engaged as casual labourers by employers of labours.
“Other sectors with thousands of casual labourers include mining, steel, banking and insurance.
“In all these sectors, staff outsourcing and casualization have become the order of the day as such workers no longer have regularised employment terms and, therefore, Nigerian graduates are treated as second class citizens in their own country of origin while foreigners from underdeveloped Countries from Asian, Indian, Pakistan, Lebanon with less qualification to Nigerian graduates are placed as managers above Nigerian graduates in many Private and even Government establishments in Nigeria.”
Akinyelure raised alarm that the scourge of casualization of employment in Nigeria is gaining grounds in an unprecedented proportion, intensity and scale.
“The increase in the spread and gradual acceptance of this labour practice in the Nigerian labour market has become an issue of great concern to stakeholders,” he lamented.
“Employers of labour is increasingly filling positions in their organizations that are supposed to be permanent skilled workers with casual employees.
“The trend has been largely attributed to the increasing desperation of employers to cut down organisational costs and thereby taking advantage of large numbers of unemployed graduates roaming the streets of our major cities in Nigeria.
“Mr President and Distinguished Colleagues, engagement of large attendants of the work force on the basis of visualization has become worrisome in the Nigeria labour market.
“Mr. President, let me re-emphasize that on daily basis, these workers are recruited at the gate and tired at will, in spite of the fact that these workers continue to generate enormous profits for the various establishment they work for, they remain classified as casuals and subjected to deplorable and inhumane working conditions.
“Apart from the fact that these categories of workers are working under spate of uncertainties, casualization also reveals a brutal work growth process similar to slave labour,” he said.
Akinyelure while citing the banking industry as a hub for casualization, blamed banks for turning female marketers into harlots and sexual slaves in a desperate attempt by them to keep their jobs and meet unrealistic deposit targets.
“Mr. President, in Banking and Insurance Industry for instance, many young graduates particularly female are employed as Marketers and given unrealistic Customer deposit ceiling targets running into millions. They are hired and fired at will when such unrealistic targets are not met.
“The female among them who are desperate in keeping their jobs turned to harlotry and sex slavery, moving from one office to the other looking for invisible customers who had staunch of fund to enable them meet their targets Mr. President, it is high time this evil and devilish act is stopped,” the lawmaker fumed.
Senator Biodun Olujimi (PDP, Ekiti South), while re-echoing Akinyelure’s observation said, “Our girls have been turned into what we cannot imagine. Most of them have been asked to look for funds, and when come us, I always tell them, I do not even have the funds to eat, how can I have funds to keep with you in the bank?
“And they will never be promoted if they don’t bring in such funds, and this is a banking industry that is privately owned, yes, but has made so much profit, and from the profit they could at least take the few that they can manage properly, rather than take a lot that they will be giving pittance.”
The lawmaker, therefore, harped on the need to have a legal framework to ensure that casualization does not exist.
“If you must take workers, take the number you can on proper emoluments,” she said.
On his part, Senator Ajibola Basiru (APC, Osun Central) while citing the position of the Supreme Court – which gives employers the power to hire and fire – called for caution in the way the bill is tweaked, adding that the National Assembly “must make a distinction in making the prohibition between employment in the public sector and employment in the private sector.”
Ovie Omo-Agege, deputy Senate President, on his part, while throwing his weight behind the bill, lamented the treatment of casual workers by oil companies operating in the country.
Another lawmaker, Mohammed Sani Musa (APC, Niger East), said, “I think we need to be a bit careful with this bill, reasons are not far fetched.
“Both in the public sector and the private sector, when we talk about casualization, there are certain organizations even in the public sector that require the services of casual workers.
“I give a simple example with the Independent National Electoral Commission. When election period comes, they engage close to about 700,00 to 900,000 people, who they engage all over Nigeria for the purpose and conduct of election.
“A lot of manufacturing firms today, if they say they are going to engage everybody as a permanent employee, even the graduates, because there are certain functions that just unskilled personnel cannot be able to handle, you need to have somebody that has requisite qualifications.”
The Senate President, Ahmad Lawan, in his remarks charged the Committee on Employment, Labour and Productivity to strike a balance in the bill to ensure that casual workers in the country are not made victims of layoffs.
“The fact remains that we need employment for our people, especially our teeming youth on one hand.
“On the other hand, we don’t want discrimination.
“If we say no casualization at all, some of our people could be victims of layoffs, and, of course, we know what casualization brings. You don’t have any entitlements outside of what you’re given immediately.
“So, we need to strike a balance to ensure that those who have to be employed on Adhoc basis – like one of our colleagues tried to show in INEC recruitments for example – and even in some of the sectors, don’t suffer too much, but that we emphasize getting permanent and pensionable appointments or employment opportunities for our people.
“I think government has a role. While government cannot employ everyone, we have the responsibility to create the environment or climate for employment opportunities to be available, either in government MDAs, or because the economy is good; private sector could engage even more than the government can do.
“So, we have the opportunity now to take this matter before the Nigerian public, and whatever we feel is the general view is what we should try to reflect when we finally pass the bill as we wish to, because this is a very important and indeed a sensitive bill because we need to have a balancing Act.
“If you say no casualization in Nigeria at all, there’ll be consequences definitely. And, if you don’t say anything about it, some people will just be suffering – in the words of the sponsors of this bill – from the very devilish and evil treatment of those who employed them.”
The bill after scaling second reading was referred by the Senate President to the Committee on Employment, Labour and Productivity to report back within four weeks.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
Nwokolo, Nollywood Actor Claims Internet Fraud is “Keeping Economy Afloat’
SEC Begins Full e-Registration for Capital Market Operators
Elon Musk Launches Invite-only X Money with Visa Debit Card
CBN Fines Banks N430m for Ignoring Customers’ Complaints
Kaspersky Uncovers New Mirage Kitten Malware Used in Cyber-espionage Campaign Across Africa, Others
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
News2 days agoHistory as Lagos Becomes First Nigerian State to Launch Greenhouse Gas Registry
E-Business2 days agoUNN to Partner Firm on AI, Smart Mobility Innovation Centre
Telecom2 days agoAI Investment Gap Threatens Africa’s Future Growth
Telecom2 days agoAMCON Puts ntel Up for Sale, Seeks Investors
E-Financial2 days agoRemita Raises Alarm Over Nigeria’s Digital Divide, Calls for More Investment
Telecom1 day agoFact-Check: Elon Musk’s “Tesla Pi Phone” is Internet Rumor
Telecom2 days agoCourt Affirms NDPC’s Powers to Register Major Data Controllers, Processors
General News2 days agoPan-Africanism: Why Integration is Non-Negotiable for Africa’s Future