Ex-UT, Capital Banks Staff To Smile

Deputy Secretary-General of the Trade Union Congress (TUC) has assured ex-staff of the defunct Capital and UT Banks that they will soon receive their severance packages.

Joshua Ansah said the negotiations on the payment of the severance package are at the conclusion stage so those affected should be assured they would receive what is due them.

Ex-staff of the two banks have been appealing to President Akufo-Addo and Governor of the Bank of Ghana (BoG), Dr Ernest Addison, to intervene to ensure that their entitlements as former workers are paid.

“Before the UT and Capital Banks staff went home, majority of them were not unionised. If you are not unionised, when it comes to these issues, it’s a bit difficult for anyone to sit down with the employer to negotiate.

“So TUC directed Union of Industry, Commerce and Finance Workers (UNICOF) to go in after they had gotten the consent from the affected staff,” he said.

According to him, “All these were done and a stakeholder meeting was called and negotiations have been going on for some time now.

“What is remaining now is some few things and issues that need to be cleared about those who have not received their packages. And I can assure them that immediately the negotiations are over, which will be soon, they will be paid their exit packages.”

The Bank of Ghana, in August 2017, collapsed the two banks and directed state-owned GCB Bank to take over all their assets because they had become insolvent.

The staff were assured of entitlements, including severance packages.

However, they are yet to receive the entitlements a year after they lost their jobs.

The liabilities of the two banks, the BoG noted, overwhelmed their assets and the owners and managers of UT and Capital Banks were unable to increase the capital of the banks to address the insolvency.

The BoG subsequently appointed Messrs Vish Ashiagbor and Eric Nana Nipah from PricewaterhouseCoopers Ghana Limited as joint receivers for the purpose of winding down the affairs of the two banks.

Meanwhile, most of the sacked staff have argued that they have been ignored for a long time.

Per the Joint Receivers letter dated January 15, 2018, an agreement was reached with UNICOF and the representatives to pay all staff of the defunct banks exit packages.


– Myjoyfmonline