Ex-Staff of Liquidated Banks’ Protest over Settlement

Labour Minister, Emeka Wogu

The Federal Government has been called upon by Some former workers of commercial banks that failed to meet the 2005 consolidation exercise by the Central Bank of Nigeria (CBN) to prevail on the banking sector regulator to pay their benefits.

The Ex Bankers came under the umbrella of Association of Ex-staff of Non-consolidated Banks, Nigeria (AESNBN), while protesting in Lagos said the CBN had promised them that their severance benefits would be settled post-consolidation.

Chair of the association, Mr. Magnus Maduka said, “Our members have individually and collectively made several moves and attempts to get our gratuities and severance packages paid without success. Initially, we thought the CBN will honour earlier promises within 90 days, but when they referred us to Nigeria Deposit Insurance Corporation (NDIC) we knew something was amiss.”

“NDIC, instead of paying us, classified our entitlements as “other creditors” meaning that they may never pay us in our life time. Now many of our members have died waiting for their entitlements.”

Maduka explained that members of AESNBN were drawn from the non-operational  All states Trust Bank, Trade Bank, Hallmark Bank , Assurance Bank, Gulf Bank, Liberty Merchant Bank, and six other banks.

He said, the group had held numerous meetings with CBN and NDIC on the matter and they “wrote a letter to the association dated 20th June 2008 promising to pay but within a short they reneged on this promise. Instead, we were asked to write a petition through the minister for labour, which the association did immediately, but until today, all we get has been promises upon promises.”

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One Comment

1. 

   Akinsola Manuel

   November 2, 2012 at 10:34 am

   Our labour shall never be in vain. I know deep within me that we worked hard then but Soludo Administration put us on the street with false promises which never see the light of the day.
   The wrath of God will visit those who are sitting on our entitlement and their generation upon generations will never know peace.
   Bara o ole both CBN and NDIC.