September 29, 2023


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ASSIBIFI Commissions multimillion naira Hotel & Suites, as Labour Minister lauds the effort.

By Afolabi Oyekunle.

The Minister of Labour and Employment, Dr. Chris Ngige has lauded the diversification efforts of the Association of Senior Staff of Banks Insurance and Financial Institutions (ASSIBIFI) for diversifying into Agriculture, and Hotel Businesses.

ASSIBIFI President Olasanoye, the three former presidents and the Minister representative.

The Minister said this in Ikeja, Lagos, through his representative, Mr. Nnamdi Enuah, the Controller in Charge of Labour in Lagos state, at the commissioning of a multimillion naira Hotel and Suites built by ASSIBIFI.

He said it was gratifying to note that ASSIBIFI is into Agriculture and now Hotel business. He said it was laudable for ASSIBIFI to diversify to get more money to run its affairs and commended the leaders of the Association for their sincere leadership and prudent management of resources, calling on other unions to emulate ASSIBIFI.

In her address, the President of ASSIBIFI, Comrade Oyinkansola Olasanoye said the construction of the Hotel and events centre started over a decade ago with levies and union dues of members. According to her, about 300million naira has been spent on the construction without borrowing money from the banks or from individuals.

ASSIBIFI President Comrade Olasanoye at the extreme left ,Minister representative extreme right.
Minister Representative Mr Enuah observing the plaque at the commissioning.

She said all the levies and union dues of members were prudently invested in the building.

Comrade Olasanoye however said to put the building into use for commercial purposes there is still the need to furnish the interior. She was grateful to the past presidents who initiated and sustained the idea of the project.

The Suites is expected to employ about 50 people when functional.

She assured that the Suites will be run strictly according to business to generate


On the diversication initiatives of the Association, she said this is to enable it not to rely only on check-off dues, adding that already the agriculture business is doing well. Yam harvested in the farms are conspicuously displayed at the hotel for everyone to see.

The occasion was graced by three ASSIBIFI past presidents, Comrade Owomoyela who served between 1992 and 1994, Comrade Lasisi Sanni 2004-2010 and Comrade Sunday Salako 2010-2016.

Also present were members of the Central Working Committee and staff.