FBN Retirees Demand Increase in Pension Allowance

28 Nov 2012

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First Bank PLC

FBN Retirees Association, Lagos State Chapter has called on management of First Bank Plc to review upwards the pension allowances paid to ex-staff of the bank in line with the present standard of living.

The retirees said the review became necessary following the increased fortune of the bank in recent years.
They explained that the last increment was done in 2011 when management increased the allowances paid to pensioners of the bank by N2,000 across board, noting that the least paid pensioner earns about N15,000 per month.

The association also directed its National Executive committee to immediately call for election of new officers, as their terms in office have terminated since November 17, 2012.

It warned that should the National executive fail to organise election during the scheduled national meeting by November 29, 2012 in Lagos, members shall cease to recognise the executive as currently constituted.

The group, in a communiqué issued at the end of its general meeting Monday, said it remains in the resolve for change in the national leadership of the association stating that the present executive has spent two terms of three years each in office in line with the constitution.
The communiqué reads in part “The last minute adoption of an un-constitutional and unconventional approach to the election was a desperate move by some of the national leaders to perpetuate themselves in office beyond the constitutional mandate of two terms only. The impromptu termination of the Ibadan Delegates Conference in session by the National President rendered the conference inconclusive.

“Therefore all decisions taken at the conference including the constitutional amendments are regarded as null and void. The next conference and election when scheduled must hold in Lagos in line with the provisions of Article “V” (a) of the constitution as amended in 2009. We want a standard and credible means of accreditation to be adopted in the coming election as has always been the case in previous elections of this association.

“The rumour making the rounds that the management of First Bank plc paid some people to disrupt the triennial delegates conference is a calculated misrepresentation of the truth and cheap blackmail designed to call disaffection among our members and therefore should be ignored. The financial report of the association for the past three years was missing from the agenda of the inconclusive conference and must be made available at the next date for the election as provided in the constitution,” the communiqué added.

Tags: Nigeria, Featured, Business, Pension Allowance, First Bank

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