50 Ex-Bank Staff Die Over Unpaid Terminal Benefits

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No fewer than 50 ex-staff of Non-Consolidated Banks in Nigeria have   lost their lives following the failure of the Central Bank of Nigeria {CBN}, the Nigeria Deposit Insurance Corporation, (NDIC), the Ministry of Finance, among others to facilitate payment of their terminal benefits since they were disengaged in 2004.

Whatapp NewsTelegram News

A member of the Registered Trustees of Association of ex-staff of Non-Consolidated Banks in Nigeria, Moses Okorie disclosed this to reporters during an interview in Enugu.

He explained that the demise of his colleagues was caused by the hardship they have been passing through since they were asked to go home without their terminal benefits, adding that those of them who are still alive could no longer take care of their families.

He insisted that payment of their terminal benefits was long overdue, adding all of them have relocated to their villages because they could not longer  afford to stay in the township.

Meanwhile, the National Industrial Court sitting in Enugu ,  presided over by Justice A.K Ibrahim has adjourned the suit brought before it by the about 14,000 of the ex bank workers against the Central Bank of Nigeria {CBN} Nigeria Deposit Insurance Corporation, (NDIC), Ministers of Finance, among others to January, 29th  2014 for adoption of written addresses.

Earlier during the court’s sitting,  counsel to the ex-bank workers, Emenike Azubuike had applied for striking out of the 8th defendant in the suit due to the revelation that the terminal benefits of the lead bank staff have been paid through their accounts in braches of 8th defendant that acquired and assumed their liability(depositors) and Asset(branches}.

According to him, the 5th defendant {the attorney General of the Federal Republic of Nigeria} caused “us a big set back” by filling preliminary objection about 6 months since the matter commenced.

It could be recalled that more than ten thousand former staff members, of non-consolidated banks in Nigeria, dragged the Central Bank of Nigeria (CBN) to court, seeking from the court a declaration that they are entitled to amelioration and compensation in terms of their terminal benefits, salary arrears and allowances in accordance with the ‘Social Safety Net’ enshrined in the CBN Guidelines and Incentives on consolidation in the Nigeria Banking Industry of August, 5, 2004.

The ex-workers also joined the Nigeria Deposit Insurance Corporation,
(NDIC), Ministers of Finance, Labour and Productivity, and the
Attorney General of the Federation in the suit
The aggrieved ex-bank staff members who sued as the registered
trustees of Association of Non-Consolidated Banks, Nigeria, are also
praying the court to determine “whether having regards to the CBN
Guidelines and Incentives on Consolidation in the Nigerian Banking
Industry of 5th August 2004, particularly the ‘Social Safety Net”, the
claimants are not entitled to be ameliorated and compensated in terms
of their terminal benefits, salary arrears and allowances.


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