The Global Financial Crisis and the Future of Labour in the Nigerian Banking Sector

Abstract

The global financial crisis stems largely from the collapse of corporate governance. To arrest the trend various reforms were instituted by the state through the injection of capital into banks and change of management. The ruling class will continue to institute one reform after another. The objective of the instituted reforms will not be realized and the finance sector will remain deformed until it is recognized that adequate capital could be rendered inadequate by inadequate management. The existence of a working class organization with the ability to constrain the ability of management to act arbitrarily and impairing of good corporate governance will be an enabler of this process. In reforming the Finance Sector a working class organization with the ability to institute its institutional identity is imperative. The development of the human side of enterprise must also attract attention.