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BOA Fights Back over Alleged Unjust Sack of 325 Staff

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Management of Bank of Agriculture, (BOA), has debunked allegations of unjustly terminating appointments of 325 employees, stressing that the said employees were from the non-core sector of the organization who were disengaged in line with practice in the industry and were duly settled to the tune of N1.1billion as severance allowances.

 

Alhaji Kabir Mohammed Adamu, managing director/CEO of BOA, disclosed this to newsmen while reacting to the allegations by the disengaged staff in Kaduna.

 

The disengaged staff had alleged recently that their appointments were wrongly terminated by the Bank without settlement of their entitlements.

 

But Alhaji Adamu who spoke through Mr. James Wayo, Bank’s acting head of Corporate Communication, explained that the said disengaged 325 employees of the bank comprising of drivers, secretaries and auxiliaries were from the non-core sector of the organization due to age, length of service, decline in productivity, disciplinary cases in 2011 and in accordance with due process, and Collective Agreement in line with the practice in the industry.

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He confirmed that the former employees were duly paid all their entitlements in accordance with the salary structure as approved by the National Income Salaries and Wages Commission, (NISWC) and the Employee Handbook.

 

To further butress his point, documents showing payments to the said 325 disengaged staff of BOA, including 70 re-engaged were tendered before newsmen for clarity.

 

According to the Managing Director/CEO, a total of N1.1billion was paid to the disengaged staff as severance allowance amounting to: N520,644,339.14 to Junior staff; while N624,969,884.29 were paid to Senior staff of the bank. Speaking on the allegations of recruitment of relations by top Management of the Bank, he said it was not correct and should be disregarded.

 

According to him, all recruitment exercises in the Bank were carried out in accordance with due process, the principles of Federal Character and the approval of the Federal Character Commission.

 

“On receipt of the resolution of the National Asaembly (NASS) requesting the Bank to review their case and give them first right of refusal in case of vacancies for which they are qualified, the Bank carried out a review, reengaged about 70 of them as Drivers and Secretaries.

 

“The Clerk of the NASS, the Permanent Secretary and Hon. Minister, Federal Ministry of Agriculture and Rural Development, Complaint Commission and Legal Aid Council Kaduna were appropriately informed.

 

‘The Bank appeared before the House Committee on Legislative Compliance in December, 2016 on the matter where the committee confirmed that the Bank had complied with the resolution of the House.

 

“The Bank further appeared before the House Committee on Legislative compliance to show evidence of payment of their entitlements. Details of the Bank’s submission on compliance with the resolution of NASS and evidence of payment were made available to their representatives (solicitors) by the committee”

 

He said the current Management Team of the Bank came into office March, 2017, and although management is continuous, but they were not part of these allegations we are talking about,” he added.

 

It would be recalled that the disengaged staff had also alleged recruitment of relations by top management of the Bank.

 

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E-Financial

Bankers, Criminals Collaborate to Clone ATM Cards- Police

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Dan Okoro, commissioner of Police, Anti-Fraud Unit, Federal Criminal Investigation Intelligence Department (FCIID) Ikoyi- Lagos, has raised alarm over many cloned certificates and ATM cards in circulation.

 

Okoro raised the alarm while briefing journalists in Lagos on the discovery of some cloned certificates by a syndicate, which specialised in printing fake documents of banks, government and corporate organisations.

 

He said that the syndicate had been using the cloned documents to defraud banks, government, corporate organisations and individuals, stressing that some bank officials were collaborating with the suspects for the crime.

 

Among documents cloned by the syndicate included CBN, presidential clearance certificates, IMF and court documents.

 

“I advise members of the public against cloned certificates, ATM card and other important documents currently in circulation. I want members of the public to keep their pin numbers, passwords and ATM safe.

 

“We have some documents recovered from one suspect arrested. We are investigating the documents and some bank staffers allegedly collaborating the syndicate.

 

“It is only the bankers that have details of every deposit in the bank. Our investigation revealed that some bankers give information to the syndicate on how much customers have in every account.

“The syndicate cloned documents and transferred such money to another account, particularly, accounts with ATM cards are their easiest target.

 

“Many crimes are going on in different banks, unfortunately, the bank management will not allow the public to know about it because they want to keep their customers trust,” he said.

 

Okoro said the unit was able to detect some of the documents through the assistance of a foreign cyber security firm based in Lagos using forensic analysis equipment to unravel the identities of the syndicate members.

 

He noted that cyber crime was a global challenge, stressing that the unit was synergising with the foreign firm for capacity building for officers and men in the unit.

 

The commissioner said the suspect arrested was currently in the hospital after he collapsed during search of his house and many incriminating materials, including hard drugs were discovered.

 

“The suspect is a web site designer. He designed many of the cloned documents. We are on the trail of other members of the syndicate,” Mr Okoro said.

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NSE Wins Best Use of Technology for Efficiency Award

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The Nigerian Stock Exchange (NSE) has announced that it received the 2018 Best Use of Technology for Efficiency Award from Nigeria Tech Innovation & Telecom Awards 2018 (NTITA).

The NTITA is the most celebrated industry awards for the Technology and Telecom industries attracting top decision makers in the sectors. The annual event is held to showcase excellence and celebrate the continued growth of Nigeria’s Information, Communication and Technology industry with a focus on the exceptional and innovative performance within the industry.

The award was presented by Mr Olusola Teniola, President, Association of Telecommunications Companies of Nigeria (ATCON) to the Chief Executive Officer of The Exchange, represented by Mr Olumide Orojimi, Head, Corporate Communications, NSE at ​NTITA  Award ceremony.

According to Mr Akin Naphtal, Chairman, Organising Committee of the awards ceremony, stated that the award is in recognition of NSE’s outstanding service, innovation and tireless efforts in the industry.

“We are proud to promote success stories, technology advancement and disruption in one of the most dynamic business sectors in Nigeria. Not only do we look at businesses, but also those who have made a genuine impact on the market from within these companies”.

Commenting on the award, Mr Bola Adeeko, Head, Shared Services Division, NSE, stated that, “we are very honoured to receive this award.

This achievement is a testament to the efficiency of our service offering which is underpinned by cutting edge technology. This award will spur us to continue to provide investors and businesses with a reliable, efficient and adaptable exchange hub in Africa, to save and to access capital”.

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Senate Orders Suspension of ATM Fee, Summons Emefiele

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Central Bank of Nigeria (CBN) has been told to direct all Deposit Money Banks (DMBs) operating in the country to suspend the monthly N50 they charge their customers for the maintenance of Automated Teller Machine (ATM) cards.

 

This was the resolution of the Senate on Wednesday after a lawmaker in the red chamber moved a motion on the illicit and excessive bank charges on customers’ accounts.

 

The Senate also directed its Committee on Banking Insurance and other Financial Institutions and Finance to conduct an investigation into the propriety of Automated Teller Machine card maintenance charges in comparison with international best practices.

The Senate decision was sequel to a motion sponsored by Senator Gbenga Ashafa, who expressed dissatisfaction with excessive charges by Nigerian Banks.

 

Ashafa lamented that most banks have deliberately manipulated their ATM machines not to dispense more than N10,000 per withdrawal in some cases and in most cases not more than N20,000 per withdrawal, adding this is deliberate ploy to manipulate the ATM machine.

 

According to him: “ost banks deliberately manipulated their ATM machines not to dispense more than N10,000 per withdrawal in some cases and in most cases not more than N20,000 per withdrawal at the ATM.

 

“This is a deliberate ploy to manipulate the ATM machine, which are ordinarily manufactured to dispense as much as N40,000 per transaction, in order to attract more bank charges from customers, who are forced to carry out more transactions due to the manipulated machines.”

 

Other Senator who spoke like Emmanuel Bwacha and Adeola Olamilekan kicked against excessive charges by Nigerian banks on Customers account with particular focus on the ATM.

 

The Senate also Mandated the committee on Banking to invite the Governor of Central Bank of Nigeria, Godwin Emefiele to appear before the committee in order to explain why the official charges as approved by the CBN are skewed in favour of banking institutions against ordinary customers to the banks.

 

In addition, the lawmakers Urged the Customer Protection Council to be up and doing in taking up the plight of ordinary Nigerians by looking into the various complaints of excess and unnecessary charges by Nigerian Banks.

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