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ASSBIFI threatens to drag bank to court

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The Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, has threatened to drag Eco bank Limited to court following the bank’s recent sacking of its 147 staff members,  saying that if the severance fee of the affected staff are not paid in two weeks the bank may also be picketed.

In a statement, the bank was said to have on March 15, 2013 laid off 147 staff that cut across all cadres all over the country for what it termed as “non-performance”. Most of these staff were recently promoted for efficiency in their various departments.

Vanguard gathered that two months after the staff received their sack letters, the bank refused to pay them their emoluments thereby subjecting them to untold hardship.

One of the victims, Pastor Dipo Ojutiku, said: “For over two months, we were laid off for what the bank referred to as non-performance exit exercise, our one month salary in lieu of notice was incomplete and up till now, our severance package has not been paid thereby subjecting us and the members of our families to untold hardship.

According to another sacked staff member, Mrs Josephine Egbagbare, “a branch manager who supervised the construction of a branch from start to finish and grew the balance sheet to over N2bn within two years was redeployed and the branch closed and all the staff redeployed to other locations. A year after, the same set of staff were disengaged based on non-performance without paying them exit package after working for the bank for certain number of years with excellent performance.

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