Liquidated Banks’ Ex-Staff Protest over Benefits

02 Nov 2012

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CBN Governor , Sanusi Lamido

Some former workers of commercial banks that failed to meet the 2005 consolidation exercise by the Central Bank of Nigeria (CBN) have called on the Federal Government to prevail on the banking sector regulator to pay their benefits.
The ex-bank workers under the umbrella of Association of Ex-staff of Non-consolidated Banks, Nigeria (AESNBN) stated this during a protest in Lagos yesterday. According to them, the CBN had promised them that their severance benefits would be settled post-consolidation.

Chairman 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 defunct Hallmark Bank, Allstates Trust Bank, Trade Bank, Assurance Bank, Liberty Merchant Bank, Gulf Bank and six other banks.
According to him, the association had held several 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 till today, all we get has been promises upon promises.”

Tags: Business, Nigeria, Featured, Ex-Staff, PROTEST, Benefits

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