News
Court orders N1bn payment to Oceanic Bank’s ex-employees
The National Industrial Court, Lagos Division, has ordered Ecobank Nigeria Limited to pay the sum of N1,086,611,589.11 to 1,742 former employees of the defunct Oceanic Bank.
The ex-employees were allegedly denied their rightful entitlements following the merger of Oceanic Bank with Ecobank in 2012.
Justice R. A. Gwandu delivered the judgment in Suit No. NIC/LA/231/2012, filed by the ex-employees through their counsel, Mr Nwabu Okoye.
Some of the ex-employees are Mr Babajide Bayode, Yemisi Adesote, Adeboyejo Oladimeji, Seun Aina, Yusuf Kadiri, Segun Alasan, Adetayo Familugba and Lolade Olaribigbe, who sued for themselves and as representatives of 1,733 other ex-employees of Oceanic Bank now Ecobank Nigeria Limited.
The plaintiffs sought several orders, including the payment of their contributions to the Staff Savings Investment Trust Fund, unpaid gratuities, and short payments of severance benefits.
According to the claimants, the total outstanding contributions to the SSITF amounted to N926,901,065.60.
The plaintiffs also demanded N159,710,523.51 as gratuities for 48 claimants and N59,858,804.51 for short payments of severance or redundancy benefits to 74 others.
The court was further asked to grant an order directing Ecobank to pay 22 per cent interest per annum on the aforesaid sums of money being claimed from February 15, 2012 until judgment and thereafter at the rate of 12 per cent per annum until the liquidation of the judgment sum.
Ecobank, represented by its counsel, S.C. Arubike, had filed a counter-claim, seeking to recover N967,529,765.38, which it described as excess severance and redundancy payments, along with interest.
The bank also claimed that N225,724,076.78 was allegedly overpaid gratuities and N1,541,491,955.03 for outstanding credit facilities.
But Justice Gwandu entered judgment in favour of the ex-employees.
He held: “Upon the consummation of the merger, Ecobank assumed all assets and liabilities of Oceanic Bank. The bank cannot repudiate or push some of these liabilities, especially regarding the SSITF scheme, which it controlled.”
Dismissing Ecobank’s counter-claim, Justice Gwandu said, “The bank failed to present credible evidence to support its claims. Ecobank is liable for the sum of N926,901,065.60 as contributions to the SSITF by 1,742 ex-employees of Oceanic Bank.”
The judge further ruled in favour of the plaintiffs regarding unpaid gratuities, ordering Ecobank to pay N159,710,523.51.
However, the claim for N59,858,804.51 as short payments of severance benefits was denied.
Justice Gwandu explained, “It would be unfair to hold Ecobank responsible for lapses under the agreement brokered by ASSBIFI, as some ex-staff benefited from it.”
The court also granted a 10 per cent interest on the judgment sum, starting 30 days after the judgment until the amount is fully liquidated.
By Kayode Sanni-Arewa
The Nigerian Air Force (NAF) has began airlifting the sensitive election materials for the Independent National Electoral Commission (INEC) to Benin, Edo State, ahead of the upcoming governorship election scheduled for September 21, 2024.
This was disclosed on Wednesday by the Deputy Director, Public Relations and Information, Group Captain Kabiru Ali.
The operation is part of the NAF’s efforts to ensure the timely and secure delivery of materials necessary for a smooth electoral process.
This development reinforces the collaboration between NAF and INEC to facilitate logistics and ensure a peaceful election in Edo State.
The Chief of the Air Staff, Air Marshal Hasan Bala Abubakar, had previously reiterated NAF’s commitment to providing airlift support for the swift movement of electoral materials during a meeting with INEC Chairman, Professor Mahmood Yakubu.
This airlift operation is a crucial aspect of NAF’s constitutional responsibility to provide Military Aid to Civil Authority, underscoring the force’s dedication to supporting democratic processes in Nigeria. With the election just days away, the NAF’s timely intervention will help ensure the successful conduct of the governorship elections in Edo State.
Governor Godwin Obaseki of Edo State had earlier accused the Inspector General of Police, Kayode Egbetokun, of working with the All Progressives Congress (APC) to hunt the Peoples Democratic Party (PDP) members and supporters in the state and force them into hiding ahead of September 21 governorship election.
Obaseki, who made the allegation when a delegation led by the former Head of State, Abdusalam Abubakar, met with him to get the governor and his party to sign peace accord, said that the IGP had made nonsense of his (Obaseki’s) role as the chief security officer of the state.
The governor had said that the police chief obtained a warrant to arrest 60 members and supporters of PDP in Edo and that the IGP sent an armed “gang” of policemen who invaded the state, attacked PDP members, shot at a local government chairman and arrested 10 persons who are currently being detained in Abuja without charges.
Asked by the former head of state if his party would sign the peace accord, Obaseki said, “The person who is supposed to enforce the peace accord is now an active participant in creating a destructive environment.
“We are now in a situation where from the Inspector General’s office, there are armed gang policemen who came into Edo State, invaded, arrested and took away PDP members.
By Kayode Sanni-Arewa
The Governor of Osun State, Ademola Adeleke, has given reasons why he loves dancing.
The ‘Dancing Governor’, as he is fondly called, revealed this on Wednesday while responding to a tweet on X.
An X user, @Iwogoke, while praising the governor, stated that Adeleke has been busy fulfilling his electoral promises to the people of Osun State, while his political opponents believe he is only good at dancing.
Iwogoke tweeted, “I’m not flattering you, Your Excellency, your opponents think you can only dance but while they are busy shouting and calling you ‘Dancing Governor’, you are busy fulfilling your electoral promises to the people.”
Responding to the tweet via his verified X account, Adeleke explained that he loves dancing because it brings him joy.
Speaking further on his love for dancing, Adeleke highlighted that while dancing brings him immense happiness, his greater fulfilment comes from delivering the dividends of democracy to the people of Osun.
Outlining his administration’s efforts to enhance the state’s infrastructure, he noted that primary health centre rehabilitation is underway in at least 200 out of the 332 wards across Osun State, adding that road construction projects are also progressing in every local government area.
He wrote, “Dancing gives me joy, but delivering on my electoral promises and providing the dividends of democracy to the good people of Osun gives me even greater joy. Rehabilitation of primary health centers is ongoing in at least 200 out of 332 wards, and road construction is progressing in every Local Government!”
Ecoparl: Speaker Ibrahima Reaffirms Parliament’s Dedication to Regional Unity
Air Force Begins Moving Electoral Materials For Edo Guber Election
“Dancing gives me abundant joy and peace of mind”-Gov Adeleke
Just in: Terrorists ambush military truck, kill all soldiers on board
Nigerian Dancer, Korra Obidi Attacked with acid, stabbed on stage In UK
Meet Rare Gem 16 Years Old Chiaza, CEO of ‘RUN MARKET PLACE’
-
News21 hours agoPHOTOS: Finally, FCT Minister, Wike settles with the Duke, Nduka Obaigbena, publisher of Thisday, Arise Tv
-
News20 hours agoOver 3000 Lagos Residents Rendered Homeless As Govt Officials, Policemen Demolish, Set Buildings On Fire
-
News17 hours agoPopular Ekiti Born Philanthropist, Funso Ayeni Bags PhD in US Varsity
-
Politics20 hours agoRivers PDP elders tackle Ada George over attack on Wike
-
Economy17 hours agoSEE Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today
-
News20 hours agoFG Issues Flood Alert As Cameroon Releases Water From Lagdo Dam
-
News15 hours agoJust in: Wanted ex-Kogi gov, Yahaya Bello honours EFCC invitation
-
News21 hours agoHire and fire Gov Fubara fires LG chairman, appoints caretaker immediately