Ex staff of failed banks drags CBN, NDIC to court

Enugu -  The former members of staff of the non-consolidated banks in Nigeria have sued the Central Bank of Nigeria (CBN) and eight others over the nonpayment of their terminal benefits.
The former bank workers, under the aegis of the Association of Ex-Staff of Non-Consolidated Banks, Nigeria, also joined the Nigerian Deposit Insurance Corporation (NDIC), and the Ministers of Finance and Labour and Productivity in the suit.
The action was filed at the National Industrial Court (NIC) sitting in Enugu.
The claimants’ counsel, Mr Emenike Azubuike in his submission at the court on Friday said his clients were entitled to their terminal benefits, salary arrears and allowances.
He said that this was in accordance with the CBN Guidelines and Incentives on Consolidation in the Nigeria Banking Industry of Aug. 5, 2004.
According to him, “the CBN has not complied with and in fact has not implemented and discharged its obligation under the Social Safety Net in favour of the claimants.
“The amelioration and compensation of the claimants by the defendants on the job losses and redundancies as enshrined under the Social Safety Net provided for in the CBN guidelines and incentives is an actionable right recognisable by law.’’
The counsel said that the delay and refusal of the defendants to pay his clients comprising 14,000 persons was a denial of their rights.
He said that the association was registered with the Corporate Affairs Commission (CAC) to fight for their welfare and rights.
Azubuike urged the court to give a 30-day mandatory injunction directing the CBN and the NDIC to pay the claimants their entitlements.
In his submission, the Counsel to CBN and NDIC, Mr Ogechi Ogbonna challenged the competence and ‘locus standi’ of the claimants to make such demands.
The News Agency of Nigeria (NAN) recalls that the non consolidated banks include Hallmark; All States Trust Bank; Metropolitan Bank; AfriBank; Assurance Bank; Liberty Bank; Golf Bank; City Express and Fortune Bank.
The presiding judge, Mr Justice Auwal Ibrahim adjourned the case to Nov. 6 for further hearing. (NAN)
- See more at: http://www.vanguardngr.com/2013/09/ex-staff-of-failed-banks-drags-cbn-ndic-to-court/?utm_source=dlvr.it&utm_medium=twitter#sthash.CxHc5VZ4.dpuf
Enugu -  The former members of staff of the non-consolidated banks in Nigeria have sued the Central Bank of Nigeria (CBN) and eight others over the nonpayment of their terminal benefits.
The former bank workers, under the aegis of the Association of Ex-Staff of Non-Consolidated Banks, Nigeria, also joined the Nigerian Deposit Insurance Corporation (NDIC), and the Ministers of Finance and Labour and Productivity in the suit.
The action was filed at the National Industrial Court (NIC) sitting in Enugu.
The claimants’ counsel, Mr Emenike Azubuike in his submission at the court on Friday said his clients were entitled to their terminal benefits, salary arrears and allowances.
He said that this was in accordance with the CBN Guidelines and Incentives on Consolidation in the Nigeria Banking Industry of Aug. 5, 2004.
According to him, “the CBN has not complied with and in fact has not implemented and discharged its obligation under the Social Safety Net in favour of the claimants.
“The amelioration and compensation of the claimants by the defendants on the job losses and redundancies as enshrined under the Social Safety Net provided for in the CBN guidelines and incentives is an actionable right recognisable by law.’’
The counsel said that the delay and refusal of the defendants to pay his clients comprising 14,000 persons was a denial of their rights.
He said that the association was registered with the Corporate Affairs Commission (CAC) to fight for their welfare and rights.
Azubuike urged the court to give a 30-day mandatory injunction directing the CBN and the NDIC to pay the claimants their entitlements.
In his submission, the Counsel to CBN and NDIC, Mr Ogechi Ogbonna challenged the competence and ‘locus standi’ of the claimants to make such demands.
The News Agency of Nigeria (NAN) recalls that the non consolidated banks include Hallmark; All States Trust Bank; Metropolitan Bank; AfriBank; Assurance Bank; Liberty Bank; Golf Bank; City Express and Fortune Bank.
The presiding judge, Mr Justice Auwal Ibrahim adjourned the case to Nov. 6 for further hearing. (NAN)