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First Bank bows to Labour demands, releases N1.8b debt

14 August 2014, 22:03

Lagos - The Amalgamated Union of Public Corporations, Civil Service, Technical and Recreational Service Employees says their picketing of First Bank Headquarters in Lagos had yielded fruits with bank paying the N1.8 billion owed its members.

The Lagos State Secretary of AUPCTRE, Biodun Bakare, an affiliate of the Nigeria Labour Congress, 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.

Also read : Union shuts down FirstBank head office

First Bank also confirmed the payment in a statement by Folake Ani-Mumuney, its Head of Marketing and Corporate Communications, issued on Thursday.

She said the money has the released following a court order asking the bank to pay the workers.

She noted that  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.”

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.

-        NAN

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