Over 10,000 ex-bankers to sue CBN, others over ₦9.8 billion entitlements
Barring any last minute hitch, over 10, 000 former bankers who filed a class action suit through the Registered Trustees of the Association of Ex-Staff of Non-Consolidated Banks of Nigeria at the National Industrial Court, Lagos Judicial Division have resolved to file individual suits.
Confirming this development at the weekend in a telephone interview with our correspondent was the counsel to the aggrieved ex-bankers, Bar. Daniel Omotilewa.
According to him, this move followed the striking out of the subsisting suit in court last Thursday by Justice Benedict Kanyip.
Expatiating, he said, “We’re just been tactical about the whole thing.
Definitely we’re withdrawing the case to file a fresh one. We came to this court under the umbrella of Registered Trustees of the Association of Ex-Staff of Non-Consolidated Banks of Nigeria and since we foresee a challenge that we may not be able to follow through with this action with our prayers in this court, the wisest thing do under the circumstances was to take a new path,” he said.
Thankfully, he said: “All the affected members of the group are all in agreement with the new line of action. What we want to do now is to compile the comprehensive list of those affected as we plan the next line of action at the court,” he said.
The lawyer who hinted that the fresh case will be filed later this week, was however quick to admit that the resumed date of hearing of the fresh is at the discretion of the court.
Echoing similar sentiments, the chairman of the group, Magnus Maduka, while addressing journalists said: “We decided to restrategise because there are certain development. There is no way we can continue the way we are going and succeed unless we factor in some of the things we know.”
“We were trying to explore the possibility of not going to court at all these past years believing that the CBN and NDIC and the banks concerned would do the needful. But it does appear that we may have to wait forever and that is why we decided to take the matter before the court to get justice for all the affected parties,” Maduka stressed.
It may be recalled that the consolidation exercise introduced by the then CBN governor, Prof. Chukwuma Soludo which swept through the banking sub-sector, left some banks defunct as a result of their inability to meet the new ₦25 billion capital benchmark.
Consequently, over 10, 000 ex-staff of banks have sued the Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) over non-payment of their N9.8billion gratuities 11 years after they were retrenched.
Also joined in the suit are Ecobank Nigeria Plc, UBA Plc, Skye Bank Plc and Zenith Bank Plc.
The claimants had instituted the action on behalf of the ex-staff of eight banks including: Allstates Trust Bank, Assurance Bank, Eagle Bank, Gulf Bank, Hallmark Bank, Liberty Bank, Metrolpolitan Bank and Trade Bank respectively.
A breakdown of the claimants’ gratuities showed that Allstates and Hallmark Bank both acquired by Ecobank were owed over ₦7 billion.
Besides, UBA which acquired Gulf Bank, Liberty Bank, Metropolitan Bank and Trade Bank owed ex-staff of the respective banks over ₦1.3bn just as Skye Bank and Zenith Banks were owing over ₦600m and ₦22million.
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