Don't Miss


Home   >   Market - Finance   >   Finance   >   Mainstreet bank in trouble over sacked workers gratuity

Mainstreet bank in trouble over sacked workers gratuity

By on March 27, 2013

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), has given the management of Mainstreet Bank one month ultimatum to pay the gratuity of sacked workers of the bank.

This is contained in a statement, signed by the association’s Assistant General Secretary, Mr Friday Inegbedion, and the First National Deputy President, Mrs Oyinkan Olasanoye, in Lagos on Monday.
Daily Times is with a copy of the letter.

The unionists said that payment of the gratuities was part of the agreement the bank signed with the association on March 22. They explained that Mainstreet Bank inherited the workers from the defunct Afribank and later sacked them, adding that the bank agreed to pay 100 per cent of the workers’ gratuity for their years of service.

After the workers were sacked in June 2012, the Minister of Labour and Productivity, Mr Emeka Nwogu, inaugurated a committee to work out modalities to settle the workers.

The statement said that the sacked workers would also be paid some other entitlements that were not disclosed to cushion the effect of the dismissal and enable them invest in other businesses.

[Daily Times]