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It
was a day of mixed business operations for Union Bank. While its 41st
annual general meeting was on at Maiduguri, Borno State capital,
protesting staff shut down the bank’s operations nationwide.

The
workers said they have had enough of the mismanagement of the present
management staff, and in particular, the Managing Director and Chief
Executive Officer, Funke Osibodu. They are also complained about the
alleged termination of 200 staff without due process. “Enough is
enough,” said one of the protesters, who did not wish to be named.
“What is it? Since she came, we have not known peace. She has been
undermining workers solidarity and constantly deducting workers salary
for no specific reason. We need answers to her actions so far. We need
her to clarify certain thing we don’t understand. All the tax that are
being deducted from our salaries, there is no evidence that they are
being remitted to the tax office. She is looting our money. They were
told to come here and raise our share capital base. Nothing has
happened so far. It’s not really the layoff that is our problem now.”

Inquiries
revealed that all the branches of the bank nationwide were affected by
the protest as the central server which is supposed to link up the
systems for the online services were shut down as well. The protest is
one of the fallouts of the restructuring of the rescued banks by the
Central Bank which commenced last year with the takeover of nine banks.

Protest would continue

Denja
Yakub, the Assistant secretary Nigeria Labour Congress, said the
protest “would continue forever.” “We have succeeded in shutting down
all Union Bank branches nationwide,” he said. “They didn’t work
anywhere today and we will continue tomorrow. It will continue forever
until they decide to talk with us.” Mr Yakub alleged that the bank
management has ignored implementation of all collective agreements it
signed with the union, misappropriated shareholders’ funds, and sacked
over 200 workers without due process.

Among
the placards and hand bills held by the protesting workers were
inscriptions like ‘Madam Osibodu, stop undermining workers’
solidarity’. ‘Know that working men have no country’. ‘While the wages
of workers is under assault, the directors’ income is witnessing an
upward swing’. ‘Osibodu, why are you moving deposit to our competitors?
Tell the world why you ceded our US$500 million deposit to First Bank
of Nigeria’. ‘Madam Osibodu, you represent the Jezebel of our time. We
bind you, don’t disturb’.

However,
while her house was literarily on fire, Mrs Osibodu was assuring
shareholders that better days are ahead as a result of the changes
being implemented in the bank. “We are confident that the changes being
implemented in the bank will yield the desired results such that they
will begin to reap good returns from their investments in the bank in
the near future,” she said.

Francis Barde, the bank’s spokesperson, said he was unable to
comment on the picketing and promised to call back; which he did not do
as at the time of going to the press.