First Bank Bows Labour Union, Releases N1.8Bn Debt

Picketing of First Bank Headquarters in Lagos had yielded fruits with bank paying the N1.8 billion owed Amalgamated Union of Public Corporations, Civil Service, Technical and Recreational Service Employees (AUPCTRE),  according to Mr Biodun Bakare, Lagos State secretary of AUPCTRE .

AUPCTRE , an affiliate of the Nigeria Labour Congress (NLC), said the bank paid the debt late on Wednesday following the paralysing of activities at its headquarters for more than four hours by the union.

The News Agency of Nigeria (NAN) reported  that First Bank confirmed the payment in a statement by Folake Ani-Mumuney, head, Marketing & Corporate Communications and issued Wednesday night.

The statement said: “This morning, a group under the banner of the Nigerian Labour Congress (NLC) visited our Marina Head Office on a matter between the group and a State Government, where a court order had been granted in favour of the group.

“The judgment was to be satisfied from the account of the State Government held in various banks of which First Bank was one.

“First Bank followed due process and engaged all stakeholders in order to abide by the order which effectively put the matter to rest.

“As a law abiding organisation, First Bank is bound by judgment and orders from the courts of the land and will always carry out its duties in a responsible manner.”

NAN recalled  that AUPCTRE members had on August 13 shutdown banking operations of First Bank following the non-payment of N1.8 billion outstanding arrears of emoluments owed 1,100 of its members.

Bakare said that the money had been paid by the Anambra State Government for workers at the state’s Water Corporation and Environment Protection Agency for eight years which the bank refused to disburse.

“They have been owing our members working with Anambra State Government Water Corporation salaries and allowances for eight years,” said Bakare.