20 November 2012

Nigeria: CBN Urged to Fulfill Promises Made to Ex-Bank Workers

The National Association of Ex-Staff of Non-consolidated Banks (NAENB) has called on the Central Bank of Nigeria (CBN) to fulfill its promise to pay their severance package when their banks were being liquidated for failing to meet the requirements for the 2005 recapitalisation exercise.

In a chat with newsmen in Lagos at the weekend, they vowed to join their members who had embarked on hunger strike since last week until their entitlements were paid.

President of the association, Mr. Magnus Maduka, told newsmen that several of their colleagues had either committed suicide or die of minor ailment as a result of their inability to pay for medical treatment.

According to him, "We lost our job January 2006 when our banks were sealed up for failing to meet recapitalisation the deadline. From that time till now contrary to promises made by the CBN to settle our claims, we have not seen anything. We have written letters to them without reply, we deserve justice because we served this country for over 25 years.

"When we signed to work for our former employers we had dreams to fulfill, but that dream has been truncated. Section 9.0 of the banking consolidation guideline provided for settling of staff of banks that may not be able to meet the recapitalisation deadline. One of our members, Mr. Olubiyi Odunaro, has since last week, embarked on a hunger strike so as to get the CBN to attend to us."

While calling on President Goodluck Jonathan to come to their aid, he said the future of their children was at stake adding that they were planning to sue the government if nothing was done to address their situation.

"Sanusi should please look at the promise made by the CBN and help us. This is an obligation of the CBN, we are not begging for arms. The CBN promised to settle us in line with industry standards. We are praying that this hunger strike will make them listen, if not we will seek legal redress, "he added.

Copyright © 2012 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.