BY VICTOR AHIUMA-YOUNG
THERE are indications that the management of the Union Bank and organized labour have not resolved the lingering dispute over unpaid benefits to close to 2000 retired workers between 2006 and 2008, weeks after a core investor has taken over the bank.

Days before the September 30, 2011 deadline given to the rescued banks by the Central Bank of Nigeria, CBN, to recapitalize or face nationalization among others, the bank and Trade Union Congress of Nigeria, TUC claimed the matter was near resolution.

Pension and You gathered that since the core investor took over, the issue of the retired workers has been sidelined.

An official of TUC who spoke on condition of anonymity, said the bank was pushing labour to the wall by its latest antics.

Before the September 30, the bank was said to have agreed in principle to pay, but the details were not settled with the TUC, which took over the battle for the payment of the benefits from its affiliate; the Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFIE, and the bank.

It will be recalled that while addressing a cross section of the retirees who thronged TUC’s secretariat in Lagos to seek explanation, Secretary General of the body, Chief John Kolawole, assured that labour would do its best to ensure that ex-workers got mutually agreed benefits, while not doing anything to jeopardize the interest of workers currently in the bank.

According to the TUC Secretary General, “because of the method we are using, there have been a lot of insinuations that some people have been compromised, some people have been paid and things like that.  Though we go to discussions without regular team, but nobody has gone to any discussion alone. The least number that has gone to discussion is about three depending on the situation. We know you (ex-workers) are restive and many believe we are delaying. Some of you have said the management of bank is just playing on our intelligence and buying is time until it will leave the scene for the new owners. We are also worried and we are trying to do something about that. We are assuring you that we will do our best to ensure this matter is resolved once and for all without undue delay.

We are all being careful to avoid any negative publicity that might affect the process of recapitalizing the bank that could lead to nationalization or others. This could make the matter drag beyond what may be favourable to everybody. The matter could also be taken to court which will also prolong the matter. So, we are trying to find a way to resolve the matter amicably as soon as possible.”

“The bank has accepted that it will pay. The bone of contention is how does it pay? There is a position that the bank cannot pay everything at once. There is also a position that the bank wants to pay something and not to leave any liability behind for incoming investors. We are negotiating.

In negotiations as facts emerge, we will iron them out and we shall be taking mandate from you before it is finally resolved. We will not under any circumstance do anything that will negatively affect the present workers in the bank. We will do all that is needed to balance your interest and those that are still workers so that at the end, we do not burn our hands.”