BY VICTOR AHIUMA-YOUNG

AHEAD of September 30, 2011 deadline given to the rescued banks by the Central Bank of Nigeria, CBN, to recapitalize or face nationalization among others, the management of Union Bank Plc and organized labour has been been meeting to resolve the lingering dispute over benefits to about 2000 former workers especially those retired between 2006 and 2008.

Although the bank is said to have agreed in principle to pay, but the details have not been worked out by the by the bank and Trade Union Congress of Nigeria, TUC, which has taken over the battle for the payment of the benefits from its affiliate; the Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI.

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

Chief Kolawale told the anxious retirees that “we have been talking with the management. We have taken over the matter from ASSBIFI. The discussions have been going on informally and formerly. The bank said it has no complete list of those affected. It agreed to compile list of affected staff and has done that.

It sent the list to us through its lawyer who is facilitating the meeting. The bank brought a list of about 900. We have a list of almost 2000 and we have sent our list to the bank. In the list given to us, the bank also specified how much each affected worker is supposed to earn.

We are waiting for the bank to tell us through its lawyer whether it has accepted the additional names we sent to them. We have also not concluded on how much the retirees are being owed. We have given our figure and the bank has given its.

The question we have asked is, if the bank has arrived at a specific figure, how did it arrive at the figure? We have agreed to a particular condition of service to be used in determining what each worker is entitled to and the agreed condition of service is the subsisting condition of service for Union Bank workers. We want explanation whether what the bank has done conformed to the condition of service.”

Our concerns – TUC

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 with the bank is about three. We know you (ex-workers) are restive and many believe we are delaying.

“Some of you have said the bank is just playing on our intelligence and buying time until the new owners take over. 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 that 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. This could make the matter drag beyond what may be favourable to everybody. So, we are trying to find a way to resolve the matter amicably as soon as possible.

“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.

Time frame for discussion

On how long will discussions, Chief Kolawole said, “TUC can only guarantee one week and after that it will be difficult to hold back the aggrieved retirees from taking up industrial action and others actions deem necessary to get their benefits. We expect a fast tracked reaction from the bank.

The retirees issue is the simplest of the issues comforting the bank’s management. The bank owes the retirees, just pay them and the matter is over. The bank told us it has an investor in-place and that all our demands will be taken to the new investor and the board.

The management said it wanted the issue be resolved before the investor came in but because of unforeseen circumstances like the Minimum wage issue, the International labour Organisation, ILO, conference and so on, it was not resolved.

Now an investor has come in and the management is saying it wants to take the matter to the investor for consideration. But we are insisting that the investor has no other choice than to the issue up because the investor has to take both the asset and liability of the bank.”