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Union Homes Owing Us Terminal Benefits After Seven Years — Former Employees Lament

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Some former staff of the defunct Union Properties, Financial savings and Loans, a subsidiary of Union Financial institution Plc, have cried out over the refusal of the corporate to pay their terminal advantages for over seven years now.

One of many affected individuals informed SaharaReporters that as of 2012, 2013 and 2014, over 500 employees members of Union Properties have been retrenched with out being paid any terminal advantages.



He stated there had been a number of consultations and conferences over the fee plan however none of that had yielded optimistic outcomes.

In accordance with him, a minimum of 37 affected individuals have died because of the lack of ability to boost funds for healthcare as he referred to as on Union Financial institution to make sure a speedy look into the plights of affected individuals.

He stated, “From 2012 to 2014, the Union houses, financial savings and loans, a former subsidiary of Union Financial institution of Nigeria Plc retrenched lots of employees members. Union Financial institution appointed administration have been despatched to Union houses Plc to hold out large retrenchment of employees, they retrenched 500 employees with out paying us our terminal advantages.

”Union Financial institution acknowledged it within the transaction implementation settlement, TIA, they ready and endorsed that they are going to pay retrenched employees. Later, they bought Union houses PLC to Aso financial savings and loans PLC with out us.

“We received the nationwide management of the Commerce Union Congress to intervene, they wrote letters to Union Financial institution to pay us or they are going to picket them, Union Financial institution PLC referred to as for conferences which they agreed to pay us, they drafted a memorandum of settlement of the events to signal, all of us signed however Union houses Plc didn’t signal.

“The Union Properties claimed there have been some folks that aren’t presupposed to be on the listing, we reconciled the names; they eliminated 65 folks out of 500. A few of them didn’t spend as much as 5 years earlier than they have been laid off. We contested the difficulty of the 5 years additionally.”

One other former employee acknowledged that that they had written to the Central Financial institution of Nigeria’ Govenor, Godwin Emefiele, and likewise to President Muhammadu Buhari for his or her interventions.

“At first we contested the difficulty of 5 years however they introduced up one coverage pointers that our administrators wrote whereas we have been at Union Properties with out our discover. That anybody who’s less than 5 years will not be entitled to entitlement fee.

”Later, Union Financial institution stated no matter they’re going to pay us can be extra legal responsibility on Union houses Plc. Union Financial institution claimed Union Properties is owing them N1.5 billion that they are going to use our entitlement to settle the debt.

”Union Financial institution stated they received a courtroom judgement asking them to make use of our terminal advantages to the settle the debt Union houses Plc is owing with out trial. Union Financial institution did a memorandum of Understanding in April this yr to that impact, we signed, TUC signed however Union Properties didn’t signal.

“Union Properties went to the courtroom of Attraction that, no, you possibly can’t use employees cash to settle indebtedness.

“Union Properties stated the letter written to them is that the debt will expire 2024 and that employees cash can’t be used for it. There are pursuits. As we converse now, we’ve misplaced 37 of our former colleagues who died of illness and have been unable to get cash for remedy. One in all them died in July 25.

“We now have written to the Central Financial institution Governor; we’ve written to the President to intervene,” he stated.

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