Following reports that the Asset Management Corporation of Nigeria is transferring assets of three commercial banks namely Enterprise, Mainstreet and Keystone banks, to new operators, employees of the banks have started expressing fear that they might lose their jobs. They have therefore approached a Federal High Court in Lagos, asking that the sales or transfer of the banks be invalidated. In a suit marked FHC/L/CS/1552/14 filed through their lawyer, Fred Agbaje, the bank workers said the move by AMCON to sell the banks without carrying them along was done in breach of the law. According to them, AMCON ought to have involved them in the bidding process, since by the terms and virtue of their employment they were shareholders and were entitled to a maximum of 10 per cent of the banks’ total assets. Two workers from each of the three banks sued for themselves and on behalf of their colleagues. They are Ogunremi Francis and Aneke Emmanuel for Mainstreet Bank staff; Abimbola Alabi and Aderonke Aworemi for Keystone Bank staff; and Victor Nwankwo and Isokpan Efe-Martins for Enterprise Bank staff. The seventh plaintiff is the Association of Senior Staff of Banks, Insurance and other Financial Institutions. Joined as the first to sixth defendants are AMCON, the three banks, the Central Bank of Nigeria and the Security Exchange Commission. A 35-paragraph affidavit filed in support of their originating summons was deposed to by Ogunremi of Mainstreet Bank. Ogunremi explained that the suit was necessary, having realised that the recent acquisition and sales of the three banks were “in defiance to the CBN guidelines and other relevant laws governing commercialization and privatization matters and public procurement in Nigeria.” posted on November 02, 2014 at 07:58PM Send an email to Joseph T. Obagbemisoye 08140584469 or 08086797418 Like JTNNG on facebook facebook/jtnng91 View Joseph T. Obagbemisoyes profile on facebook facebook/jtob91 Follow @jtob91 and get followed also jtnng.blogspot/
Posted on: Sun, 02 Nov 2014 19:04:00 +0000
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