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Nairaland Forum / Nairaland / General / Career / Appointment Terminated Unjustly And The Staff Asked To Refund Salaries (22410 Views)
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Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by elampiro(m): 10:01am On Oct 08, 2017 |
When I joined banking many years back, loans were written off upon termination of staff employment. Then a severance package would be given to the staff as an appreciation for serving the institution. But over the years, with new CEOs, everything has changed for the worse. Those days if you put in five years, you would be qualified for an exit package. You can say you are tired, you resign and collect your exit package. The profit now is far far higher, yet the staff welfare has become poorer. There has to be a new orientation in the corporate world. 3 Likes |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by ipobarecriminals: 10:01am On Oct 08, 2017 |
ERICOPLC: ERICOPLC:she will not pay back the money she chop alone abi?Banks aren't doing charity when it com to load/recovery.Trust me,she go pay the last kobo and nothing go hapun |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Jubril4194: 10:10am On Oct 08, 2017 |
She does not owe the bank a dine, get a good lawyer. Or check her employment agreement. Loan is a tool bankers use for their long term stay in banks |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Desyner: 10:32am On Oct 08, 2017 |
ultron12345:Is he really wicked ? i don't think so. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Beowulf(m): 10:49am On Oct 08, 2017 |
ziddy: Dude, what section of the BoFIA says that? Not enough to throw BoFiA about. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by GratefulHeart23(f): 11:07am On Oct 08, 2017 |
ipobarecriminals: Did you bother reading what I responded to? They have no right to defame her on credit bureau. She was paying instalmentally while employed, what make them think she has enough fund to clear the loan now that she's been dismissed. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by GoldNiagara(m): 12:07pm On Oct 08, 2017 |
ddestiny145: Tell her to DM me asap. Free legal advice |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by SweetJoystick(m): 12:20pm On Oct 08, 2017 |
GratefulHeart23:Not all banks request for guarantors, I know of banks that just require referee information i.e name, address, employer, number of years he/she knows the applicant. And such person doesn't need sign any form, just provide information. During call verification, the referee is not even told that his/her contact is about getting a loan Also, as long as the loan has been disbursed, it becomes live automatically on CB. You don't expect the bank to report the ex staff is paying as at when due, when reporting such would surely come back to hunt them. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by santicruz: 12:52pm On Oct 08, 2017 |
That's the way it is with the banking industry, d will ask u to resign and you will pay back yout allowances and reimbursement. Let get pay back when she gets a Job. After a year the will start charging her interest and report her to credit bureau. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 12:53pm On Oct 08, 2017 |
She does not have to pay back any remaining balance. The job is gone. She didn't resign. She was sacked so they are the ones who terminated their agreement on repayment means. A bank employee took out a car loan. She was laid off later. She went away with her car and didn't finish paying back. She went to have her baby and didn't go back to look for work. Where did they expect her to get money to repay them? That was how this woman got a free ride. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by GoldNiagara(m): 1:03pm On Oct 08, 2017 |
ddestiny145: DM me for free legal advice. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by mapist(m): 1:21pm On Oct 08, 2017 |
AceVentura: I never expected to read a VERY ACCURATE POST...kudos as you have mirrored it all. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by IgedeBushBoy(m): 1:45pm On Oct 08, 2017 |
Tell her to negotiate with the bank, or even beg to see a way of making it easier on her. They could be kind enough. Because for her employer to ask, it simply means it's in their terms and conditions. I wish her good luck with that. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by eluquenson(m): 1:45pm On Oct 08, 2017 |
They can't force her to pay the loan in full at once, there are different types of loan and staff is entitled to, some loans attracts a guarantor whom will also be a member of staff, any failure to repay back by the beneficiary or disengagement from the bank, the guarantors will be notified for indemnity. If there isn't any collateral like guarantor, hence the account of the staff will be debited not by mounting pressure to repay once. The person involved should tell the bank to meet her at court, am very sure they won't Dare it. We need to know our right cos some employers are just exploiting their staff 1 Like |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 1:54pm On Oct 08, 2017 |
Beowulf: Go read it up! What's wrong with you lot? You can't be ignorant & lazy at the same time that's just all shades of wrong! 1 Like |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by StoneColdBiceps(m): 1:56pm On Oct 08, 2017 |
ddestiny145: That no be problem. They sack her. They would pay her severance package. Severance package will be used to offset her loan. If the loan still has outstanding after offsetting then they 'll have to stop interest on dropping in her accout. If She gets another job and she needs reference from her former employer, they 'll report that she has loan to settle or they will tell her to pay up the loan befor they can give her reference letter. Also she'll let her new employer know she has loan. This is normal in corporate employment. They will takeover her loan and pay her previouse employer while it runs as a loan for her in the new company. She must be employed again to be able to pay back her loan. 1 Like |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Businessman1986(m): 2:25pm On Oct 08, 2017 |
Guitarlife: Informative stuff you put up. Nice one |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Unionised(m): 3:00pm On Oct 08, 2017 |
ddestiny145: What i have seen from those around me in this scenario is that the loan is commercialised (higher interest rate) The sacked staff is asked to pay back the loan Most resist paying because its the bank that laid them off. The bank usually cannot do anything about it. They simply wait for your next employer to ask for a LETTER OF REFERENCE, which they (the bank) will refuse to give you unless you pay back the loan. The new employer now has two choices; To not confirm your appointment and lay you off too Or, accept you that way without the reference. But remember, every bad loan is a killer. Aside from the default rate which accumulates over time, You really cannot borrow from any mainstream finance house again for life, unless you clear the loan. And when you decide to travel out, another matter..... 20 years down the line nko? A political appointment or prestigious award somewhere turns sour when monitoring spirits decide to dig up your past. Moral of the story? PAY YOUR DEBTS There is no justice in this world. Sorry... 1 Like |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Beowulf(m): 3:24pm On Oct 08, 2017 |
ziddy: Dude stop blowing your gasket. Do you know how many sections BoFiA has got? Let me tell you, BoFiA says no such thing hence your inability to cite the relevant section. If I say anything based on any section of the law, I will point out the provision to you straight up. Don't send me on a wild goose chase when you know there is nothing there. You people come on social media spouting ignorance and when you are challenged you get upset. 2 Likes |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 3:48pm On Oct 08, 2017 |
Unionised:Bro, you are very informed. Can you shed more light on the circumstance surrounding repayment of housing and salary upfront ? You know the bank gives its staff their full housing allowance at the beginning of the year and most also pays quarterly upfront. Since these allowances are not outright loan requests but a form of salary advance, will the bank be right to demand a repayment especially of pro rated housing allownace since the staff is expected to have rented a house and paid for a year in full ? Experienced inputs please. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by vexing(m): 4:33pm On Oct 08, 2017 |
She has nothing to fear if she want to go into private practice, unless she wants to work again and she need the bank reference. When some one collects loans or advances from an organization there are always guarantors who are also supposed to be staff of the organization. Also at point of termination or retirement, the staff liabilities are supposed to be subtracted from any of his/her benefits and the balanced paid to such staff. So any loan or advance taken would have been deducted from such amount and I am sure that no organization will give you loan that is more than your accrued benefits. If it is a case of dismissal she would not be entitled to any benefit unless pension ( that is if the pension is been paid by another independent pension company) so the company can not deduct her loan from her benefits since there would be no benefits and she does not need to disturb her self about paying back because whether she pays back or not the bank can not do her anything and even if she pays back the bank will not be a good referee for her if she was dismissed. So I will advised her too just lockup. That's all. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Unionised(m): 5:09pm On Oct 08, 2017 |
Guitarlife: Believe me when I say it's an argument an employee cannot win. Housing and education are a form of advance for you to be comfortable enough to concentrate on the job. While they are not loans in the real sense, you are supposd to work for it in the course of the year. So, if you leave within the calendar year in question, repayment will be prorated and dropped into your account. The banks have good legal advice on this. It's a lost cause fighting it. My opinion though. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 5:37pm On Oct 08, 2017 |
Unionised:Lets put this in perspective. The staff employment was terminated. The staff did not resign. Secondly a proper loan must be collaterized and also an offer letter is supposed to be signed by the debtor. Without these offer letter a loan is not valid therefore Credit Bureau cannot be involved. Therefore in the case of upfront and housing allownace the only issue will be bad reference from the organisation in future. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 5:55pm On Oct 08, 2017 |
Beowulf: If you were only half as informed as you pretend to be, you would know how to locate specific information without reading an entire document. It's there spelt out in black & white but I'm not going to point you to it because you're arrogant as well as ignorant. 1 Like |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Tinyemeka(m): 6:23pm On Oct 08, 2017 |
Xyzee: What type of loan is that please? Was it voluntarily applied for? Thanks. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Tinyemeka(m): 6:28pm On Oct 08, 2017 |
elampiro: Hmmm. It has even gotten worse sir. In some places, you waive your right to a severance package, if you resign of your own volition. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by elampiro(m): 7:34pm On Oct 08, 2017 |
Tinyemeka: I know. There is a limit to which I can say. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Tinyemeka(m): 9:47pm On Oct 08, 2017 |
ziddy: I had to download a PDF of the BoFIA and go through it in its entirety. Could you kindly point out the section that applies to OP's case. Said sacked staff is not a Management staff or Director. Thanks. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Tinyemeka(m): 9:47pm On Oct 08, 2017 |
elampiro: Kk. Understood. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by lonelydora: 7:38am On Oct 09, 2017 |
praise010: Please can i send you a mail too. I'm facing same issue, although I'm not a banker. I resigned from my job in September to start a new one in October. I took loan from a bank which they deduct monthly. Now they are saying they can't continue the loan with my new job because they don't have any contract with the new coy. They want me to pay everything once. They have started accruing interest already. My payoff from my former employer will also come in that account They even ceased my September salary. Remember my first pay with the new coy is October ending. What do i do? |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by lonelydora: 7:40am On Oct 09, 2017 |
doyouknowjohnny: Please can we talk? Send a pm pls. |
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by lonelydora: 7:41am On Oct 09, 2017 |
Xyzee: For my own. YES |
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