50 Ex-Staff of Banks Die over Unpaid Benefits

At least 50 ex-staff of non-consolidated banks in the country have reportedly lost their lives following the alleged failure of the Central Bank of Nigeria (CBN); the Nigeria Deposit Insurance Corporation (NDIC); the Finance Ministry among others to facilitate payment of their terminal benefits 10 years after their disengagement.
The sad news was disclosed to journalists in Enugu by a member of the Registered Trustees of Association of ex-staff of non-consolidated banks in Nigeria, Moses Okorie.

This was just as the National Industrial Court sitting in Enugu , presided over by Justice A.K Ibrahim adjourned the suit brought before it by the about 14,000 of the ex-bank workers against the CBN, NDIC, Ministry of Finance, among others to January, 29th 2014 for adoption of written addresses.

Okorie noted the hardship experienced by his dead colleagues since they were asked to go home without their terminal benefits accounted for their death, noting that those alive still found it difficult to fend for their families.

Earlier during the court’s sitting, the counsel to the ex-bank workers, Emenike Azubuike, 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 branches 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 setback” by filling preliminary objection about six months since the matter commenced.

It could be recalled that more than 10,000 former staff members of non-consolidated banks in Nigeria had dragged the 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 aggrieved former bank workers 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.