Pensioners, First Bank square up over poor welfare

Retirees of First Bank of Nigeria are at daggers drawn with the Bank’s management over the nonpayment of their pension arrears, Ripples has learnt.

Consequently, the affected retirees have through their umbrella body, the Nigeria Union of Pensioners threatened to shut down the operations of the Bank if the management fails to heed their request within the next 21 days.

Confirming this development, the chairman of the Union, Alhaji Mohammed Bagundu in an interview with newsmen in Abuja on Wednesday said the Bank was guilty as charged.

Read also: Oduahgate: First bank compelled to disclose loan details

The Bank, Bagundu said, had been seriously indicted by their pensioners over the poor welfare package of the Bank.

According to him, it is on record that First Bank pensioners get as low as N10,000 only per month while their counterpart in other banks get 10 times higher.

Also worrisome, the NUP boss said, is the issue of nonpayment of medical allowance, illegal tax deduction as well as refund of contributions to the National Housing Scheme among others.

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