The Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSBIFI) has raised concerns about Heritage Bank’s alleged wrongful termination of over 30 former employees and their failure to settle severance benefits.
In a recent press conference, Olusoji Oluwole, the National President of ASSBIFI, issued a threat to mobilize affiliate trade unions and workers to picket Heritage Bank’s head office.
Oluwole expressed serious concerns regarding what he described as unfair labor practices towards the bank’s employees and the potential repercussions for the financial security of both affiliated union members and Nigerian citizens who hold accounts and savings with the bank.
He alleged that since the new management assumed control, Heritage Bank has been involved in numerous unfair labor practices against vulnerable workers, including the abrupt dismissal of 30 employees, one of whom was an ASSBIFI principal national officer.
These actions, Oluwole claims, are in direct violation of labor laws and agreements.
Despite efforts by the union to seek justice for the affected workers through negotiations and dialogue, Heritage Bank reportedly terminated their employment without adhering to due process and failed to provide documentation regarding the payment of severance benefits.
Oluwole emphasized that these employees had dedicated years of their lives to the bank, with service ranging from five to 25 years.
He harshly criticized the bank for leaving them without any compensation, characterizing it as “exploitation and injustice of the worst order.”
Oluwole pointed out that Heritage Bank’s actions constitute a clear violation of Section 20 of the Labor Act, Cap L1, LFN 2004, as well as the ASSBIFI industry-wide collective agreement and the ILO Convention 158 on Termination of Employment.
He stated, “ASSBIFI is prepared to utilize all available resources and networks to mobilize affiliate trade unions and Nigerian workers in defense of the rights and privileges of our members within this institution.”