In a significant development, the House of Representatives Committee on Public Petitions has absolved Ecobank of any liability towards the 167 members of staff laid off in 2023.
The committee, chaired by Mike Etaba (APC-Cross River), ruled that the petition filed by the claimants lacked merit.
The petitioners had approached the committee to compel Ecobank to pay all their entitlements, citing a proposed agreement between the bank and the workers’ union.
However, counsel to the bank, Kenneth Okere, presented evidence that the bank had discharged all its obligations to the affected former staff members.
According to Okere, the bank provided the sacked staff with a range of benefits, including: One year medical insurance coverage, One month’s salary in lieu of notice.
Others are; Four months’ salary as severance pay, Gratuities, 10% of their basic salary, housing, and transport allowances paid into their respective Retirement Savings Accounts (RSAs).
Okere emphasized that the bank had gone above and beyond to support the affected employees, providing them with benefits they were not ordinarily entitled to.
The committee chairman, Etaba, confirmed with the petitioners that the payments had indeed been made by the bank.
Following this confirmation, Etaba dismissed the petition, commending Ecobank management for their gestures towards the sacked staff members.
He stated that the House of Representatives, as the ‘people’s house’, would not allow any Nigerian to suffer, irrespective of status.
This ruling brings closure to the matter, affirming that Ecobank has fulfilled its obligations to the affected staff members.
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