Minister of Labour and Employment, Dr. Chris Ngige has commended the leadership of the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) for its impressive drive to grow its Internally Generated Revenue (IGR).
He lauded the union for diversifying into agriculture and commissioning its multi-million ultra modern Suites and Event Center. The facility located in the high-brow Ikeja Business District, Alausa, Lagos, was commissioned yesterday (Thursday).
Ngige who was represented by the State Controller, Lagos State Federal Ministry of Labour and Employment, Mr. Nnamdi S. Enua, described the edifice as a product of sincere and honest leadership that is prudent in the management of resources.
” It is not just a mystery but a paradox how ASSBIFI is getting millions to embark on such a gigantic project. This is a legacy that will stand the test of time. We are happy that you are not limiting yourselves to check-off dues.
” It is heart-warming that ASSBIFI is diversifying its sources of revenue like agriculture. It is also heart-warming to hear that from the foundation to the present stage, ASSBIFI did not borrow a dime from anybody. You did not take a loan from any bank”, the Minister said.
Welcoming guests earlier to the occasion, the President of ASSBIFI, Comrade Oyinkansola Olasanoye explained that the construction of the Suites and Event Center commenced over a decade ago with levies and union dues of members in 2012, adding that no money was borrowed from either banks or individuals.
She said; “We have relied solely on members’ union dues and levies which we pay once every three years. Whatever sum we realized, was prudently invested in the building.
“The interior of the project is yet to be completed and put the center to commercial use.”.
Olasanoye revealed that when fully operational, it will create job opportunities for 50 workers.
“We thank companies that supported us in the past and welcome support from our employers”, she added.
The outgoing President praised the union’s past Presidents who initiated and sustained the idea of the project.
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