Jobs/Appointments
The Contract Of Employment; Things To Know
By Benita Ayo
As I stated earlier, contracts are an essential part of a business relationship and, if handled by highly skilled legal professionals, will save a business and its owner from liabilities emanating from lawsuits.
This also applies to employment contracts which are agreements stating the terms and conditions of the employment offer.
Contents of Employment Contracts
An employment contract typically contains the terms and conditions of the offer, which include but are not limited to the following;
- The parties to the contract of employment.
- The date of commencement of work.
- Whether the contract is valid for the present or fixed-term.
- Probationary period and its duration.
- Place of work.
- Remuneration and its method of payment.
- Working hours.
- Annual Leave.
These are the basic contents. Depending on the Corporate Policy of the Employer, other terms such as Employee welfare package, sick pay, Pension, bonuses, HMO etc. are also included in the miscellaneous part of the contract.
The newly engaged staff is expected to signify acceptance of the offer of employment in the prescribed manner and within a set time frame.
Legal Implications
It is a trite and settled law that parties are bound by the terms of their contract. What this implies is that after the execution of an employment contract, neither party to it can alter the terms except in the manner prescribed under the contract.
Where there is a breach of the terms of the Employment Contract in any form, the party in breach will be liable for damages to the aggrieved party. For example, if the Employer fails to fulfil his obligations under the terms of the employment, the employee will rightly sue the employer for non-performance and also sue for damages suffered.
For further consultations, you may reach me at;
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Benita Ayo is a Seasoned Corporate Commercial Counsel with over 9 years post-call experience. She has handled myriads of briefs in Corporate/Commercial, Employment Law as well as Property Transactional Practice.
Jobs/Appointments
Lagos Assembly Names Four New Principal Officers After Obasa Ouster
By Adedapo Adesanya
The Lagos State House of Assembly on Friday named four new principal officers, following the impeachment of the former Speaker, Mr Mudashiru Obasa, on Monday.
Mr Obasa, who was ousted as Speaker in absentia, a position he has held for the last nine years, was replaced by Mrs Mojisola Meranda (APC-Apapa 1).
Mr Obasa was impeached on Monday over alleged gross misconduct by 32 out of the 40 members.
The Clerk of the House, Mr Lekan Onafeko, was also suspended over alleged gross financial impropriety.
The House also dissolved all the standing committees inaugurated by the former speaker.
On Friday, Mrs Meranda, while presiding over plenary as Speaker, said the appointment of new officers arose from the change in the leadership of the House.
“The House has named Mr Temitope Adewale (APC-Ifako-Ijaiye 1) as the new Majority Leader, while Mr Adedamola Kasunmu (APC- Ikeja 1) is the new Deputy Majority Leader.
“This House has also named the Chief Whip, Mr Setonjo David (APC-Badagry 2), while the Deputy Chief Whip is now Mr Babatunde Saani (APC-Kosofe 2),” she said.
Before Mr Obasa’s impeachment, Mr Mojeed Adams was the Majority Leader, while Adedamola Kasunmu was the Deputy Leader.
Mr Mojeed Adams, the new Deputy Speaker, was the former Chief Whip, while Mr Setonji David was the Deputy Chief Whip.
Business Post reports that three lawmakers, primarily Mr Obasa, Mr Adams and Mr Akinsanya, were absent at the first plenary presided over by the new leadership.
Jobs/Appointments
CBN Okays Inclusion of Three Directors to Fidelity Bank Board
By Aduragbemi Omiyale
Fidelity Bank Plc has received the authorisation of the Central Bank of Nigeria (CBN) to appoint three directors to its board, a statement from the lender has disclosed.
Business Post reports that the bank picked Mr Abdullahi Sarki Mohammed as an independent non-executive director, Ms Obiaku Augusta Okam as a non-executive director, and Mr Sufiyanu Ibrahim Garba as an executive director, all effective January 14, 2025.
The company disclosed that the three directors were chosen to strengthen its leadership in a strategic move to sustain its impressive performance, as Mr Isa Mohammed Inuwa and Mr Chidi Agbapu retired from the board as an independent non-executive director and a non-executive director, respectively.
The chairman of Fidelity Bank, Mr Mustafa Chike-Obi, in a notice to the Nigerian Exchange (NGX) Limited, welcomed the appointees to the board and looked “forward to leveraging their extensive experience to drive the bank’s strategic objectives and further its growth trajectory.”
Mr Mohammed brings over 36 years of experience in financial services, public administration, and human resources development, having held key leadership and executive roles at prestigious institutions including First Bank of Nigeria Plc and Polaris Bank Limited. His extensive expertise encompasses banking, public service, and business advisory.
On her part, Ms Okam boasts more than 30 years of impressive experience across the banking, financial services, real estate, and retail sectors. Currently the Managing Director/CEO of Skycurve Nigeria Limited, she has held leadership positions at Zenith Bank Plc and Nigeria International Bank Limited (Citibank).
As for Mr Garba, he has over 30 years of multifunctional and cross-border experience at leading financial institutions in Nigeria and the United Kingdom including executive and leadership roles at prestigious financial and non-financial institutions such as Access Bank Plc, Union Bank of Nigeria Plc and Keystone Bank Limited. His career background spans banking, financial services, public service, general management and business origination across a broad range of segments.
Jobs/Appointments
Institute Names Olam Agri as Top Employer in Nigeria, Switzerland, Eight Others
By Modupe Gbadeyanka
A leading player in the agribusiness sector, Olam Agri, has been recognised as a Top Employer in Nigeria, Switzerland and eight other countries.
This recognition was from the Top Employers Institute, which is a global authority that recognises excellence in people’s practices.
It is the fifth straight year the company is named as a Top Employer in the African continent, highlighting its status as a global employer of choice.
“At Olam Agri, we foster a purpose-driven workplace where employees thrive. We empower our team to create meaningful contributions to our company, customers, communities, and the environment.
“Guided by our entrepreneurial spirit, we encourage ownership, innovation, and excellence. We embrace diversity and create an inclusive environment where everyone feels valued, respected, and empowered to succeed,” the Chief Human Resources Officer at Olam Agri, Sriram Subramanian, stated.
The other eight nations Olam Agri was recognised as a Top Employer are Cameroon, Côte d’Ivoire, Ghana, Mozambique, Senegal, South Africa, Australia, and The Netherlands.
The Top Employers Institute recognises an organisation’s dedication to a better world of work through excellent HR policies and people practices.
The programme has certified and recognised over 2,400 Top Employers in 125 countries/regions across five continents. The survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more.
“Consistency in a not-so-consistent world? In a time of rapid change, where technological, economic, and social factors continually reshape our world, these extraordinary times bring out the best in people and organisations.
“This year’s Top Employers Certification Programme showcases the resilience of the certified Top Employers 2025, who consistently prioritise the growth and wellbeing of their people, as they enrich the world of work. We are proud to celebrate these people-first leaders and teams as the Top Employers for 2025!” the chief executive of Top Employers Institute, Mr David Plink stated.
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