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CEO Weekends: Nigeria’s First Bank Temporarily Shuts Down Over N1.8B Debt

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A collaborative union of Public Corporations, Civil Service, Technical and Recreational Service Employees (AUPCTRE) in lagos, nigeria have temporarily shutdown banking operations at First Bank of Nigeria Plc headquarters over N1.8 billion outstanding arrears of emoluments the bank owed 1,100 AUPCTRE members.

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According to the News Agency of Nigeria (NAN), Biodun Bakare, Lagos State Secretary of AUPCTRE, an affiliate of Nigeria Labour Congress (NLC), said that the money had been paid by the Anambra Government for workers at the state’s Water Corporation and Environment Protection Agency for eight years which the bank refused to disburse.

“They have been owing our members working with Anambra State Government Water Corporation salaries and allowances for eight years. On this, our union took Anambra State Government and the bank to court and the government said they have paid the said money to First Bank for onward disbursement to the workers,” said Bakare.

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He added hat the cout had ruled on July 14th this year that the money would be disbursed to the account of these employees and nothing has ever been done since then.

Bakare said that all branches of First Bank in Nigeria were barricaded by the union following the expiration of the ultimatum on Aug. 12, adding that the workers had suffered enough for the past eight years and should be paid.

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The secretary said the union would not guarantee industrial peace in all the branches of the bank across the country until the workers were paid.

Reacting, Efeturi Doghudje, First Bank Corporate Communications Department, said that the management would issue a statement later to that effect.

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Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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