(L-R) Reginald Ihejiahi, MD/CEO, Fidelity Bank Plc, welcoming Peter Knodt; MD, Deutsche Bank, Germany, during a courtesy call on the bank in Lagos.

The workers union of some of the nationalised banks have said that they will insist on full payment of all their entitlements that accrued to them while working for the rescued banks. These entitlements include gratuity and pension. The position of the workers may result in serious labour crisis in these banks as their management may not accede to their request.
In an exclusive interview over the weekend with key executives of the Association of Senior Staff of Banks Insurance and Other Financial Institutions (ASSBIFI), they maintained that the workers will insist on an arrangement where they will get the benefit of their many years of service to their former banks based on existing proposals by the Nigeria Deposit Insurance Corporation (NIDC) which favoured full settlements for workers.
ASSBIFI executives who spoke to BusinessWorld said since the benefits of the workers were safe in some Pension Funds Administrators and the nationalised banks are liquid, the situation will not arise where workers may be forced to begin to ask for their rights.
ASSBIFI sources revealed that the union believes that both workers who have elected to remain and those who have decided to go will get all their benefits after which those who will remain will seek new conditions with their new employers. They noted that there is no going back on this as it is the resolve of the union to interface with the new banks’ management when they settle down fully for work early September.
There are indications that there may be a face-off or labour crisis in those banks if the position of the banks do not favour those of ASSBIFI. The senior management of the banks have kept mum over all the labour issues since the workers were asked to elect to remain or go.
Our investigations revealed that all the staff may have accepted to continue with the banks until they see the contents of their letters of new appointment. The terse invitation did not say what will happen to those who want to opt out. Staff of Mainstreet Bank Plc (Afribank Nigeria Plc) were believed to have been served this notice last Wednesday like their counterparts in the other nationalised banks.
The mood in the three banks last week was pensive as workers kept long face, apparently bemoaning their faith as the apex bank may not have offered them full protection before handing them over to NDIC and then to Amcon. The staff raised so many questions which are awaiting clarification as they had believed that the absorption of their banks would have offered them the guarantee to continue to serve the nationalised banks in the full content of their contract with the former banks.
Top Amcon officials have been keeping quiet over the issue of the terminal benefits of the affected workers, but BusinessWorld can reveal that Amcon has no plans of making any commitments over staff liability as it may have directed its CEOs to offer fresh appointments to those who are willing to continue until the new buyers come on board.