Polaris Bank: Union happy with state of workers

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) says it is satisfied with issues related to workers in the take-over of Skye Bank.

Our correspondent reports that the Central Bank of Nigeria (CBN), had on Sept. 21, announced the revocation of operating licence of Skye Bank and the injection of N786 billion into Polaris Bank.

The CBN announced that Polaris Bank would take over the assets and liabilities of the defunct Skye Bank.

Mrs Oyinkan Olasanoye, ASSBIFI President, told journalists at a news conference in Lagos on Wednesday that her union was comfortable with the state of the welfare of workers transfered from the defunct Skye Bank to Polaris Bank.

”As at today, there is no disparity in salary or position of any worker. Our members from Skye still maintain their salary level and position while in Polaris Bank.

”But we are prepared for any changes that could occure after the sale of Polaris Bank as the CBN has directed the Assets Management Corporation of Nigeria (AMCON) to begin the process of sale,” Olasanoye said.

She said that ASSBIFI would engage the management of the new bank in discussions to enable it realise its objectives, while commending the CBN for its efforts in ensuring soundness and efficiency of the banking system.

Olasanoye advised that the process of the sale by AMCON should be transparent and that only credible investors should be considered.

”AMCON must be allowed to undertake the sale without undue interference and ensure that the exercise does not go the way of Mainstreet Bank Plc,” the union president said.

She urged her members in Polaris Bank to continue to work hard to support the management in its efforts to make the bank a financial power house.