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National Union of Banks Insurance and Financial Institutions Employees, 19, Owodunni Street, Iwaya, Yaba, Lagos (2026)

17/08/2026

BEYOND NUMBERS. BEYOND TODAY.

Every figure tells a story. Every transaction carries responsibility. Every decision can shape a future.

For the men and women working across Nigeria’s banking, insurance and financial institutions, our work goes beyond the desk. It demands integrity, professionalism, resilience and purpose.

But no worker should stand alone.

NUBIFIE exists to give financial-sector workers a stronger collective voice. We stand for workers’ rights, welfare, fair representation, better working conditions, professional growth and the protection of members’ interests. We engage, represent and advocate for our members because when workers stand together, their voice becomes stronger.

Join NUBIFIE.
Be part of a union that understands your work, represents your interests and stands with you.

We don’t just work in finance. We drive the future.

📍 19, Owoduni Street, Iwaya, Yaba, Lagos
📧 [email protected]

NUBIFIE - One Voice. One Purpose. One Union.

10/08/2026

NUBIFIE ACKNOWLEDGES CALL FOR ₦500,000 MINIMUM WAGE, URGES CONSTRUCTIVE DIALOGUE

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has taken note of the reported call by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) for a new national minimum wage of ₦500,000 for Nigerian workers.

NUBIFIE acknowledges the position of organised labour and recognises the concerns underlying the demand, particularly the significant pressure that the rising cost of living continues to place on Nigerian workers and their families.

The question of an appropriate national minimum wage is an important national issue that requires serious and responsible consideration. While workers' welfare and purchasing power must remain central to the conversation, the determination of a new wage should also take into account the prevailing economic conditions, productivity, employment sustainability and the capacity of employers and governments to implement any agreement reached.

The position of NUBIFIE is consistent with the principles contained in Section 17(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), which provides that the State shall direct its policy towards ensuring that citizens have the opportunity to secure “adequate means of livelihood” and suitable employment under Section 17(3)(a).

Furthermore, Section 17(3)(b) provides for “conditions of work [that] are just and humane,” while Section 17(3)(c) provides that the health, safety and welfare of all persons in employment should be safeguarded.

The National Minimum Wage Act, 2019 (as amended) provides the statutory framework for the determination and periodic review of the national minimum wage. The 2024 amendment moved the review period from five years to three years, reflecting the importance of keeping the wage framework responsive to changing economic circumstances.

In view of these constitutional principles and the existing legal framework, NUBIFIE believes that the reported ₦500,000 demand should be given due consideration within the appropriate negotiation process.

The Union therefore calls for meaningful, constructive and inclusive dialogue among the Federal Government, state governments, organised labour, employers and other relevant stakeholders.

NUBIFIE believes that dialogue and collective bargaining remain important tools for addressing differences and achieving an outcome that protects the dignity and welfare of Nigerian workers while also considering the sustainability of the national economy.

The Union encourages all parties to approach the forthcoming discussions with good faith, mutual respect and a willingness to negotiate, with the ultimate objective of reaching a fair, realistic and sustainable wage arrangement.

NUBIFIE remains committed to the protection and promotion of workers' rights, welfare and dignity and believes that the welfare of workers and the sustainability of the economy should not be treated as competing objectives, but as matters that require a balanced and responsible approach.

NUBIFIE ASKS: WHAT IS YOUR VIEW?

The NLC and TUC have reportedly called for a ₦500,000 national minimum wage.

Share your views respectfully as the national conversation continues.

National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE)

03/08/2026

NUBIFIE Commends NLC's Position on Minimum Wage and Pension Reform, Appeals for Timely Government Action

The National President of the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), Comrade Anthony Abakpa, mni, has commended the President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, for his courageous and timely call for a comprehensive review of the national minimum wage and the establishment of a national minimum pension for retirees.

Speaking on behalf of NUBIFIE, Comrade Abakpa described the NLC's position as a patriotic and constitutional demand that reflects the core principles of trade unionism. He noted that the Trade Unions Act recognizes the responsibility of labour unions to protect and promote the economic and social welfare of workers, while Section 17(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) directs the State to ensure that citizens have adequate means of livelihood and that suitable and adequate welfare is provided for all.

According to him, workers and pensioners are inseparable parts of the nation's workforce. A nation that seeks sustainable development must not only reward active service with fair wages but must also guarantee retirees a life of dignity, security and respect after years of dedicated service.

Comrade Abakpa stated that NUBIFIE fully aligns with the NLC's demand for a realistic national minimum wage and a nationally guaranteed minimum pension that reflects current economic realities and protects retirees from hardship caused by inflation and the rising cost of living.

He appealed to the administration of President Bola Ahmed Tinubu, GCFR, to give the proposal the urgent attention it deserves through sincere dialogue and prompt policy implementation. He acknowledged the efforts of the Federal Government in pursuing economic reforms under challenging circumstances and expressed appreciation for its commitment to national development. He, however, emphasized that the true success of any economic reform must ultimately be measured by the improved welfare and living standards of ordinary Nigerians, especially workers and pensioners.

Comrade Abakpa reaffirmed that NUBIFIE remains committed to working closely with the Nigeria Labour Congress, the Federal Government and all relevant stakeholders in advancing policies that strengthen workers' welfare, protect retirees and promote social justice. He expressed confidence that through constructive engagement, collaboration and responsible leadership, Nigeria can build a more equitable society where every worker is fairly rewarded and every retiree lives in dignity and financial security.

Comrade Anthony Abakpa, mni
National President, NUBIFIE

29/07/2026

NUBIFIE INAUGURATES SCREENING AND CREDENTIALS COMMITTEE AHEAD OF NATIONAL DELEGATES CONFERENCE

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has officially inaugurated its Screening and Credentials Committee on Tuesday, 28th July, 2026 to oversee the screening of delegates and contestants, ensuring that only eligible members participate in the forthcoming National Delegates Conference in accordance with the provisions of the Union Constitution.

The committee is chaired by Comrade Taiwo Tawose, Domestic Committee Chairman, Goldlink Insurance. Other members are Comrade OpeOluwa Ogunfowote and Comrade Oyindamola Awonubi, who serves as the Committee Secretary.

The Terms of Reference were presented by Comrade Aboderin Phillip Olusola, Union SDGS, while the Union General Secretary administered the Oath of Office to the committee members.

The National President of NUBIFIE, Comrade Anthony Abakpa, mni, who presided over the inauguration, formally handed over the relevant documents to the Committee Chairman and charged the committee to discharge its duties with fairness, transparency, and absolute adherence to the Union Constitution.

The inauguration was graced by distinguished national officers of the Union, including Comrade Femi Makindipe, Union National Trustee; Comrade Emeka Onyekachi, National Treasurer; Comrade Akeem Balogun, National Auditor; Comrade Eunice Bassey, Senior Assistant General Secretary; Comrade Havilah Ofulue, Assistant General Secretary; alongside the Union General Secretary and the National President.

NUBIFIE remains committed to strengthening internal democracy by promoting credible, transparent, and constitutionally guided electoral processes that uphold the integrity of the Union.

27/07/2026

NUBIFIE PUBLIC FINANCIAL LITERACY SERIES

Many Nigerians will see the news that the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5% and simply scroll past it. Some people will say, "Another CBN announcement." Others will say, "It doesn't concern me." But at NUBIFIE (National Union of Banks, Insurance and Financial Institutions Employees), we believe every Nigerian deserves to understand how major economic decisions affect their daily lives. Whether you live in Lagos, Abuja, Kaduna, Ebonyi, or any other part of Nigeria, this decision can influence your business, your job, your savings, and even the prices you pay for everyday necessities.

Let us explain with a simple example. Imagine Musa in Kaduna wants to borrow ₦1 million to open a provision store. At the same time, Ada in Ebonyi plans to take a loan to expand her rice business. In Lagos, Tunde hopes to buy modern equipment to grow his printing business, while Grace in Abuja wants to secure funding to open a fashion boutique. They all walk into different banks with confidence, believing they can get affordable loans to pursue their dreams. However, each of them is told that borrowing remains expensive because lending rates are still high. Faced with this reality, some decide to borrow a smaller amount, while others postpone their business plans completely. This is one of the practical ways a high interest-rate environment affects ordinary Nigerians.

So, what exactly happened? The Central Bank of Nigeria has decided to maintain the Monetary Policy Rate (MPR) at 26.5%. In simple terms, the benchmark interest rate was neither increased nor reduced. Many people mistakenly believe that the MPR is the exact interest rate they will pay whenever they borrow money from a bank. That is not the case. The MPR is a policy tool used by the CBN to guide the banking system. When the MPR remains high, commercial banks generally keep their lending rates high as well, making loans more expensive for businesses and individuals across the country.

Why didn't the CBN reduce the rate? The main reason is inflation. Inflation means that the prices of goods and services continue to rise, reducing the purchasing power of your money. For example, the amount you used to spend on food, transportation, rent, or school fees a year ago may no longer be enough today because prices have gone up. Although inflation has slowed slightly in recent months, food prices and the general cost of living are still putting pressure on many households. By leaving the MPR unchanged, the CBN hopes to continue slowing inflation and create a more stable economic environment before considering a reduction in interest rates.

Who benefits? People who save money or invest in interest-bearing financial products may continue to enjoy relatively attractive returns while interest rates remain high. Some savings accounts, fixed-income investments, and money market products may offer better returns than they would in a low-interest-rate environment. However, every investment comes with its own level of risk, and returns are never guaranteed. This is why financial education is important—understanding where and how to invest can help individuals make informed financial decisions instead of relying on speculation or hearsay.

Who feels the pressure? Small businesses, entrepreneurs, manufacturers, farmers, traders, and even salary earners who depend on loans are often the most affected. When borrowing costs remain high, many businesses reduce their expansion plans, delay purchasing equipment, employ fewer workers, or increase the prices of their products to cover higher costs. In the long run, this can affect economic growth and reduce opportunities for job creation, making it more difficult for many Nigerians to improve their standard of living.

The lesson is simple. Whenever the Central Bank of Nigeria announces a monetary policy decision, don't just ask, "How does this affect people who want loans?" Also ask yourself, "What does this mean for my savings, my investments, my business, my job, and my financial future?" Understanding the answers to these questions will help you make wiser financial decisions and prepare for changes in the economy instead of being caught by surprise.

Financial literacy is no longer optional; it has become an essential life skill. The more you understand how money works, the better equipped you will be to protect your finances, seize opportunities, and make decisions that improve your future. At NUBIFIE, we remain committed to promoting financial literacy, economic awareness, and empowering Nigerian workers and citizens with the knowledge they need to thrive in an ever-changing economy.

National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE)

Promoting Financial Literacy • Empowering Workers • Building a Financially Informed Nigeria

Reference: This publication is based on the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) Communiqué following its July 2026 meeting, which retained the Monetary Policy Rate (MPR) at 26.5%, and publicly available reports from reputable financial news organizations, including Reuters.

Sources: Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) Communiqué; Reuters report on the CBN's July 2026 Monetary Policy Decision.

Disclaimer: This publication is intended solely for financial literacy and public awareness. It should not be construed as financial, investment, or legal advice.

21/07/2026

A Promise Delivered. A Legacy Remembered.

On December 11, 2024, NUBIFIE President Comrade Anthony Abakpa, mni, alongside General Secretary Sheikh Mohammed, joined national labour leaders at a landmark ceremony where Kano State Governor, Alh. Abba Kabir Yusuf, donated 14 Compressed Natural Gas (CNG) buses to the Nigeria Labour Congress (NLC) and pledged an additional 30 buses.

More than a donation, it was a bold investment in the welfare, dignity, and mobility of Nigerian workers. It reaffirmed the power of collaboration between government and organized labour in advancing the interests of the workforce.

As we look back on this memorable milestone, NUBIFIE remains committed to championing policies and partnerships that improve the lives of workers while strengthening the financial services sector and the Nigerian economy.

Together, we remain stronger. Together, we continue to make progress.

20/07/2026

Bank Workers Storm Abuja Summit: 'Good Governance Must Start With Workers' Welfare'

ABUJA - Members of the National Union of Banks, Insurance and Financial Institutions Employees, NUBIFIE, joined thousands of workers at the Working People United Good Governance Summit 2026 on June 25, demanding that Nigeria’s economic reforms translate to better pay, job security, and dignity for workers.

Held at the Shehu Musa Yar’Adua Centre, the summit brought together labour unions, traders, farmers, transporters, civil society and government officials to chart a path for inclusive governance under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Leading a 40-member NUBIFIE delegation, Comrade Sola Aboderin Phillips, Senior Deputy to the General Secretary, said financial sector workers cannot be left behind in national development.
"If we want a stable economy, we must protect the people powering bankers, insurers, and all working Nigerians,"_ Phillips told delegates.

Working People United, WPU, described itself as a grassroots movement uniting workers, artisans, professionals, traders, farmers and transporters to push for policies that improve welfare, encourage civic participation, and drive sustainable growth.

Throughout the day, NUBIFIE members engaged in policy discussions, networking, and conversations focused on accountability, equity, and workers’ rights.

The summit drew labour leaders, policymakers, traditional rulers, and civil society groups who all agreed on one thing: governance must deliver results for ordinary Nigerians.

NUBIFIE reaffirmed its commitment to supporting initiatives that advance good governance and protect workers.

15/07/2026

Building Trust in a Digital Era: Protecting Workers, Securing the Future of Nigeria's Financial Institutions

The Nigerian financial sector stands at a defining moment. Rapid digital transformation, the rise of artificial intelligence, and evolving financial technologies have created new opportunities for growth, efficiency, and financial inclusion. At the same time, they have introduced increasing challenges, including cybercrime, sophisticated digital fraud, operational risks, and mounting workplace pressures on employees.

Behind every successful financial institution is a workforce whose dedication, expertise, and integrity sustain public confidence. As the industry continues to innovate, we must ensure that technology complements human capacity rather than replaces the values of professionalism, fairness, and decent work.

The future of our financial institutions depends on deliberate investments in cybersecurity, continuous employee training, improved staff welfare, mental well-being, and policies that promote safe and productive workplaces. Employees should be equipped with the knowledge and tools needed to identify emerging threats while remaining motivated to deliver exceptional service to the Nigerian public.

As a union, NUBIFIE remains steadfast in its commitment to protecting the rights and interests of workers while promoting a resilient, ethical, and globally competitive financial sector. We will continue to engage employers, regulators, policymakers, and industry stakeholders in constructive dialogue that prioritizes innovation, industrial harmony, and sustainable growth.

The challenges before us require collective responsibility. Government, employers, labour unions, and employees must work together to strengthen institutional resilience, safeguard customer trust, and create an environment where both businesses and workers can thrive.

Together, we strengthen our institutions. Together, we protect our workforce.

13/07/2026

Empowering Women, Strengthening NUBIFIE: A Collective Responsibility

Every strong union is built on unity, inclusion, and equal opportunity. At the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), we believe that empowering women strengthens our union, our workplaces, and the future of the labour movement.

As Assistant General Secretary (Gender Desk Officer), I remain committed to promoting an environment where women are encouraged to participate, lead, and make meaningful contributions at every level of our union.

NUBIFIE is more than a union. It is a family that protects workers' rights, promotes members' welfare, encourages professional growth, and gives every member a strong voice. Together, we are building a united, progressive, and respected organisation for employees in the banking, insurance, and financial institutions sector.

I encourage every female member across our branches and chapters to stay active, confident, and committed. Your passion, leadership, and dedication are essential to the continued growth and success of NUBIFIE.

My sincere appreciation goes to our visionary National President, Comrade Anthony Abakpa, fisn,mni, for his inclusive leadership and unwavering commitment to the advancement of our union. I also appreciate the members of the National Executive Council for their dedication and selfless service to our members.

Special appreciation goes to the Nigeria Labour Congress (NLC) for its continued support in promoting workers' welfare, equity, and social justice across Nigeria.

Together, let us continue to promote unity, fairness, inclusion, and excellence. Together, we will build a stronger NUBIFIE where every member has the opportunity to thrive.

NUBIFIE Protecting Workers Promoting Progress Building the Future

Together We Build. Together We Lead. Together We Succeed.

Comrade Havilah E. Ofulue
Assistant General Secretary (Gender Desk Officer), NUBIFIE

07/07/2026

🎉 HAPPY BIRTHDAY 🎉

COMRADE SOLA ABODERIN PHILLIPS

Senior Deputy General Secretary (SDGS), NUBIFIE

Today, the leadership, staff, and members of the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) proudly celebrate an exceptional leader, mentor, and committed trade unionist.

Your unwavering dedication, integrity, and selfless service have continued to inspire confidence, strengthen our union, and promote the welfare of workers. Your passion for excellence and commitment to the ideals of unity, justice, and progress remain a source of motivation to many.

As you celebrate another year of life, we pray that Almighty God blesses you with excellent health, divine protection, greater wisdom, renewed strength, and many more years of impactful leadership and remarkable achievements.

Happy Birthday, Comrade Sola Aboderin Phillips!
May this new chapter bring abundant joy, peace, prosperity, and continued success in all your endeavors.

With warm regards,
National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE)
"Unity • Strength • Peace • Progress"

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