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12yrs after disengagement: Court orders Ecobank to pay 1,742 ex-Oceanic bank unpaid gratuities, savings

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The National Industrial Court sitting in Lagos, has ordered Oceanic Bank to pay N1,086,611,589.11 to 1,742 ex-staff, who were denied thier entitlements by the banks.

Justice R. Gwandu gave the order while delivering judgment in suit Number NIC/LA /231/2012 filed by 1,742 ex-employees of defunct Oceanic Bank, which merged with Ecobank Bank Limited sometimes in 2012.

In the representative suits filed by Mr. Nwabu Okoye, counsel to 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 the following orders from the court:

“An order directing that they be paid the outstanding sum of N1,146,470,393,.62 being the sum total of thier savings in the Staff Savings Investment Trust Fund, SSITF, scheme contributed by 1742 ex-employees of Oceanic Bank made up of those transfered to Ecobank upon merger of the two banks through the merger of February 15, 2012, and those whose employment were determined before or upon the said merger which remain unpaid till date.”

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The claimants in thier statement of claim said the amount is outstanding as their contributions to the SSITF scheme which the defendant has refused to pay till date stands at N926,901,065.60.
Claimants also asked the court for an order directing the bank to pay the sum of N159,710,523.51 being the total sum due as gratuities to 48 of the claimants and another sum of N59, 858,804,.51 being the short payments of severance or redundancy paid by the defendant to 74 of them.
However, the bank through its lawyer, S. Arubike filed a statement of defense to the suit as well as counter- claim.

The bank claim demanded for the sum of N967,529,765.38 being the excess of severance and or redundance benefits paid to the ex- staff of Oceanic Bank, that is, the claimants at 24 percent interest from October 30, 2014, until any judgement is delivered in it’s favour and interest of 10 per cent untill the judgment sum is fully liquidated.

Justice Gwandu in his judgment held that upon the consummation of the merger, Ecobank has fully acquired all the assets and liabilities of Oceanic Bank and cannot repudiate or push some of the liabilities on its employees, moreso, when it was the bank that was in control of the SSITF scheme.

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Army acquires 43 drones, wings 46 Turkey-trained personnel

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The Federal Government has bolstered the Nigerian Army’s operational capacity with the acquisition of 43 Bayraktar TB2 drones, primarily for deployment in the North-West theatre of operations.

The Commander of the Nigerian Army Space Command, Brig. Gen. U.G. Ogeleka, disclosed this on Tuesday during the winging ceremony of 46 personnel trained in the operation and maintenance of the drones.

The initiative, codenamed Project Guardian, aims to strengthen military operations against insurgency and other security challenges in the region.

“Between May and September 2022, a team of 35 officers and 11 soldiers from the Nigerian Army’s routinely piloted aircraft system regiments underwent specialised training in Turkey on the operation and maintenance of the Bayraktar TB2 drones,” Ogeleka said. “The training crew included multi-piloted aircraft pilots, mission operators, avionics, and mechanical engineers and technicians.”

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Out of the 46 trained personnel, 14 are multi-piloted aircraft pilots, seven are mission operators, and 23 are engineers and technicians.

Ogeleka presented 22 of the trained personnel for the winging ceremony, noting that the others are actively engaged in operational duties.

The Chief of Army Staff, Lt. Gen. Olufemi Oluyede, praised the acquisition of the drones and the training of personnel as significant steps toward enhancing the army’s professionalism and combat readiness.

“The winging of these 22 officers and soldiers as pilots and certified maintenance engineers is a morale booster for others in service,” Oluyede said. “It confirms their readiness to operate and maintain the Turkish Bayraktar TB2 drones in our inventory.”

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Oluyede further revealed plans to procure additional unmanned aerial systems in the coming year to strengthen military operations across all theatres in the country.

The drones will play a critical role in addressing security challenges in the North-West, a region plagued by banditry and insurgency.

Their advanced surveillance and strike capabilities are expected to significantly enhance the Nigerian Army’s operational effectiveness.

This development underscores the government’s commitment to leveraging technology to improve national security and highlights the Nigerian Army’s drive to modernize its arsenal and build capacity within its ranks.

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With more unmanned aerial systems set for acquisition, the military’s ability to conduct precise, real-time surveillance and combat operations is poised for substantial improvement.

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Ondo Assembly mulls 10-year jail term for land grabbers

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The Ondo State House of Assembly is considering a bill that proposes harsh penalties for land grabbers, including up to 10 years imprisonment for forceful entry or illegal takeover of properties.

Governor Lucky Aiyedatiwa has further reinforced the fight against land grabbing by signing an Executive Order to prohibit such activities.

The order aims to end forceful entry, illegal occupation of landed properties, and fraudulent or violent conduct related to land in the state.

To strengthen enforcement, the governor has established a Task Force to protect property rights, uphold the rule of law, and ensure a secure environment for property owners and residents.

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The proposed bill also includes severe penalties of up to 21 years imprisonment for selling family land without the consent of the family head or secretary.

Hon Moyinolorun Ogunwumiju, the lawmaker representing Ondo West Constituency 1, who sponsored the bill, spoke during a public hearing on the bill

Hon Ogunwumiju assured stakeholders that the bill would improve land administration, protect landowners, attract investors, and foster peace and development in the state.

He explained that the bill sought to regulate land dealings, protect landowners and buyers, penalise encroachers, and criminalise unregistered agents.

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Ogunwumiju said the bill proposed penalties of up to 10 years’ imprisonment for forceful entry or takeover of properties and up to 21 years for selling family land without the consent of the family head or secretary.

Speaker of the Assembly, Hon Olamide Oladiji, urged committee members and stakeholders to ensure the bill served the interests of the people.

He said the bill would maintain order in the state and impose necessary sanctions on offenders.

“Land grabbers pose a significant threat to property acquisition. Their activities ranging from trespassing, forceful occupation, and illegal sales of properties to multiple buyers must be confronted decisively.”

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Majority Leader and Chairman of the House Committee on Rules and Business, Oluwole Ogunmolasuyi,  said the bill, would benefit the society at large

Ondo Commissioner for Justice and Attorney General, Kayode Ajulo said the bill would enhance land administration and complement the executive order signed by Governor Aiyedatiwa.

Stakeholders including traditional rulers  called for full implementation of the bill when signed into law.

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FG earmarks N250bn for Lagos-Abuja rail project in 2025 budget

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The federal government has made an allocation of N250 billion in the 2025 budget for the Lagos–Abuja mass transit rail project.

This budgetary investment is part of a broader plan to revitalize Nigeria’s infrastructure and stimulate economic growth.

The government’s focus on infrastructure development is rooted in the belief that it is a cornerstone of long-term economic planning.

By investing in critical infrastructure such as roads, railways, energy, healthcare, and education, the administration aims to create a conducive environment for both domestic and foreign investment.

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The Lagos-Abuja rail project, in particular, is expected to have a transformative impact on the Nigerian economy.

By improving transportation connectivity between two major economic hubs, the project will facilitate the movement of goods and people, reduce logistics costs, and stimulate economic activity.

Additionally, the project is expected to create numerous jobs, both directly and indirectly, contributing to the country’s overall employment rate.

The government’s infrastructure investments are also aimed at addressing regional disparities.

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By connecting different parts of the country through improved transportation networks, the administration hopes to stimulate economic growth in underserved regions, reduce poverty, and promote equitable development.

The 2025 budget signals the government’s commitment to transforming Nigeria’s infrastructure landscape.

By investing in critical projects like the Lagos-Abuja rail line, the administration aims to lay the foundation for a more prosperous and connected Nigeria.

However, the success of these initiatives will depend on effective planning, efficient implementation, and transparent governance.

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