News
VENO NEWS: Sterling Bank Vs Ex-staff: Sterling Bank In Trouble As Mother of four Wins in Court
Date: 10-12-20
By Idowu Oladunni
The last may not have been heard about the issue of pension and entitlements raised by Madam Oyesola Ogunleye, mother of four and an Ex-staff against Sterling Bank of Nigeria. Here is the full information and exactly what transpired between the mother of four who felt cheated and the Bank.
From a reliable source, she was employed on August 1998 into the defunct Magnum Trust Bank Ltd and was given an appointment letter as a full staff of the bank. But due to the CBN rules and prescription for those banks that were financially weak, in January 2006, NAL Bank completed a merger with four other Nigerian Banks namely; Magnum Trust Bank, NBM, Trust Bank of Africa and Indo-Nigeria Merchant Bank (INMB). The merged entities have successfully integrated and started operating as a consolidated group with the name Sterling Bank. This led to the transferring of her employment to the Sterling Bank PLC without payment of any form of benefits. She was advised through a letter that her employment had been transferred to Sterling Bank PLC.
After some years, her employment was terminated in 2011 and the bank failed to pay her accurate benefit. This included the remmited pension deduted from her salary from 1998 to Dec 2005. Meanwhile, there was no records for the said pension deduction from 2006 till 2011. It is revealed that the bank traded with the pension remiitted after 10years,9yrs,5yrs etc which was stated in the statement of her account as an evidence.
When she realised plea could not resolve the issue, she took the case to court in 2014 in order to claim all the entitlement and judgement was first delivered in her favour on 24th May, 2018, and her claims was granted which the bank refused to pay.
The Bank refused to honour the court decision as instructed by the judge since 2018. Instead of paying, they filed motion for stay of execution which was strucked out by the judge and they still did not pay. And the judgement was also delivered in favour of Madam Oyesola Ogunleye on 23rd July, 2020 but still, the bank is yet to act inaccordance with the judicial instruction.
This prompted her to applied for execution process which was approved and granted by the judge. This supposed to take place on 14th of September 2020 but blocked by the Banks' lawyers. They claimed the case was in court but the case didn't exit in appeal court since 2018 till now, the bank is deliberately using delay tactic in other to frustrate all her efforts.
Presently, the mother of four has been given quit notice in her apartment, her children dropped out of school , and she is yet to receive all her entitlement after 14 years meritorious service with the bank who always declared dividend at the end of the year..What a wicked Bank!
As at the time of filling this report VENO management sent a letter and no response.. Investigation continues
Date: 10-12-20
By Idowu Oladunni
The last may not have been heard about the issue of pension and entitlements raised by Madam Oyesola Ogunleye, mother of four and an Ex-staff against Sterling Bank of Nigeria. Here is the full information and exactly what transpired between the mother of four who felt cheated and the Bank.
From a reliable source, she was employed on August 1998 into the defunct Magnum Trust Bank Ltd and was given an appointment letter as a full staff of the bank. But due to the CBN rules and prescription for those banks that were financially weak, in January 2006, NAL Bank completed a merger with four other Nigerian Banks namely; Magnum Trust Bank, NBM, Trust Bank of Africa and Indo-Nigeria Merchant Bank (INMB). The merged entities have successfully integrated and started operating as a consolidated group with the name Sterling Bank. This led to the transferring of her employment to the Sterling Bank PLC without payment of any form of benefits. She was advised through a letter that her employment had been transferred to Sterling Bank PLC.
After some years, her employment was terminated in 2011 and the bank failed to pay her accurate benefit. This included the remmited pension deduted from her salary from 1998 to Dec 2005. Meanwhile, there was no records for the said pension deduction from 2006 till 2011. It is revealed that the bank traded with the pension remiitted after 10years,9yrs,5yrs etc which was stated in the statement of her account as an evidence.
When she realised plea could not resolve the issue, she took the case to court in 2014 in order to claim all the entitlement and judgement was first delivered in her favour on 24th May, 2018, and her claims was granted which the bank refused to pay.
The Bank refused to honour the court decision as instructed by the judge since 2018. Instead of paying, they filed motion for stay of execution which was strucked out by the judge and they still did not pay. And the judgement was also delivered in favour of Madam Oyesola Ogunleye on 23rd July, 2020 but still, the bank is yet to act inaccordance with the judicial instruction.
This prompted her to applied for execution process which was approved and granted by the judge. This supposed to take place on 14th of September 2020 but blocked by the Banks' lawyers. They claimed the case was in court but the case didn't exit in appeal court since 2018 till now, the bank is deliberately using delay tactic in other to frustrate all her efforts.
Presently, the mother of four has been given quit notice in her apartment, her children dropped out of school , and she is yet to receive all her entitlement after 14 years meritorious service with the bank who always declared dividend at the end of the year..What a wicked Bank!
As at the time of filling this report VENO management sent a letter and no response.. Investigation continues
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