PROTEST: Union Bank workers during a peaceful protest over an alleged plan by the management to sell the bank, at the bank's headquaters in Marina, Lagos, yesterday. Photo: Joe Akintola, Photo Editor.

By Victor Ahiuma-Young
LAGOS—OFFICIALS of Nigeria Labour Congress, NLC, and National Union of Banks, Insurance and Financial Institutions Employees, NUBIFIE, yesterday picketed and disrupted activitives at the Marina Lagos, Head office of  Union Bank Nigeria Plc  over alleged breach of Collective Bargaining Agreement, CBA and alleged falsification of financial reports.

However, the management of the bank said it has always ensured that  agreements reached with workers’ in-house unions are respected.

The bank in a statement by its Head of Corporate affairs, Mr. Francis Barde noted that the Board and management of the  had always ensured “that information provided by the Bank to the regulatory authorities and shareholders is accurate and factual and also ensures where possible that professional third parties validate the information.”

The organised labour action  paralyses activities of the bank while it lasted.

Explaining the reasons for the picketing, NUBIFIE’s General Secretary, Comrade Elijah Ola, said “Union bank management has breached the provisions of the collective bargaining agreement reached with the workers’ in_house unions in areas of like staff disciplinary procedures and recruitment/transfers, hence the action to pressurize management to obey the agreement”

Similarly,  Assistant General Secretary of  NLC, Comrade Denja Yaqub,  said “The issue of staff promotion that has remained a mirage as management has been foot dragging inspite of the agreement reached with the in_house union necessitated the strike action”

Comrade Yaqub said the picketing would continue today and that the NLC President, Comrade Abdulwaheed Omar would personally lead today’s action.

On the allegations by the factional Association of Senior Staff of Banks, Insurance and Financial Institution, ASSBIFI’s Secretary, Comrade Obukere Orere said that the bank deliberately falsified information.

Barde said: “The allegation that the position of the bank is being deliberately falsified is categorically untrue.  The accounts of the Bank have been audited by reputable audit firms.”

According to him, the Management and Board of the Bank has always been willing to make available the Banks audited accounts to shareholders and the public at large for scrutiny.

“The last two AGMs have not been held due to a court process that was instituted by some shareholders. As you are aware there has been a ruling on this in favor of the bank to proceed with the AGM.  The AGM taking place is purely to approve routine statutorily issues”, he said.

He noted that the process for identifying and selecting a Core Investor was the responsibility of the Board of Directors and its Recapitalization Committee which was chaired by non_executive Director.

He however said “The steps taken have been transparent and all inclusive.  All the bidders for the Bank including the Core Investor do not have any relationship with the Management nor Board and that any shareholder who wishes to know more about the capitalization process is free to come for the AGM and ask questions or seek clarification as the board will clarify as appropriate as now resolution relating to the capitalization will take place”.