25 December 2012

Nigeria: First Bank Retirees Seek Better Package

First Bank of Nigeria (FBN) Retirees' Association has called on management of the bank to review their pension package, stating that what they get monthly is not commensurate with the fortune the bank is currently making.

The retirees, who made the call in Lagos, said the association has been mandated to dialogue with the bank's management on a better welfare and pension package for its members.

They noted that the disparity in their pension package, when compared with what their contemporaries in other banks get, was nothing to write home about. The association explained that while a retired AGM in First Bank gets N50,000.00 as his monthly package, a contemporary in Union Bank gets N350,000 monthly.

To this end, the meeting held on November 29 inaugurated a caretaker committee that will conduct a free and fair election in January 2013.

According to a communiqué issued at the briefing, the former executive council whose tenure expired on November 17, 2012 was dissolved at the meeting and consequently a seven-man caretaker committee was unanimously constituted by over 173 members from across the country that were present at the meeting.

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.