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AB Microfinance Bank And Anti-labour Activities. - Career - Nairaland

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AB Microfinance Bank And Anti-labour Activities. by Mystical888: 3:21pm On Dec 28, 2017
Dear House,

My niece works with this microfinance bank.

It happens to be one of the best we have in the country now, rubbing shoulders with the likes of First bank MFB and the likes.
However, the policies of this institution are quite difficult to keep up with.
One wonders why these expatriates come into our territory and have a field day, trampling on the rights of our graduates all in the name of “there are no jobs out there”.

They conveniently set up sweat shops and put our fellow Nigerians at the helm of affairs, to ensure they carry out their bid to the letter i.e not conforming to the stipulations of the Labour laws of the host country.
1) For instance, she has been trying for a transfer to a branch close to her home for the past 6 months to no avail.
2) She currently leaves home as early as 5 am in the morning and arrives at 11pm sometimes (for a lady about to settle down in holy matrimony).
3) She has the usual monthly targets to think about too, failure to meet up will have her shown the way out.
4) Allowances are reduced at the slightest provocatio, to reduce running costs and stay in business.
5) Promotions don’t come as at when due unless you have a relative(s) in the system (Husbands or their colleagues are best bet). If you like, spend ten years in the system, you must have earned so much for the organisation either by “hook or crook” before you can move to the next level.
6) Monthly salary of a loan officer who has put in 7 years into the organisation and rakes in on the average, 5 Million naira monthly in disbursements or 18 numbers of loan seeking small business owners is less than 100k.

You may think my knowledge of this facts and figures are not entirely accurate so I hope nairalanders who have information can share on here, so we can be better informed about the situation or maybe members of staff of the organisation who can make a change can effect those changes.

The world is a global village now with internet and social media, Nigeria cannot be left out in benefitting from its rewards.

It is sad that an organisation can look so good on the outside but is actually a workshop of sorts, an anti-labour organisation where emotional turmoil is the order of the day.

Looking forward to comments and contributions.
Front page please!!!
Re: AB Microfinance Bank And Anti-labour Activities. by uboma(m): 5:33pm On Dec 28, 2017
It is a pity that the regulatory bodies are not living up to their names, hence the wanton disregard for labour laws by most organizations here in Nigeria.


It is good that you are exposing their ills in the open.


Let's hope that they see this and adjust accordingly and/or the Labour Unions call them to order.
Re: AB Microfinance Bank And Anti-labour Activities. by ultron12345: 10:59pm On Dec 28, 2017
Mystical888:
Dear House,

My niece works with this microfinance bank.

It happens to be one of the best we have in the country now, rubbing shoulders with the likes of First bank MFB and the likes.
However, the policies of this institution are quite difficult to keep up with.
One wonders why these expatriates come into our territory and have a field day, trampling on the rights of our graduates all in the name of “there are no jobs out there”.

They conveniently set up sweat shops and put our fellow Nigerians at the helm of affairs, to ensure they carry out their bid to the letter i.e not conforming to the stipulations of the Labour laws of the host country.
1) For instance, she has been trying for a transfer to a branch close to her home for the past 6 months to no avail.
2) She currently leaves home as early as 5 am in the morning and arrives at 11pm sometimes (for a lady about to settle down in holy matrimony).
3) She has the usual monthly targets to think about too, failure to meet up will have her shown the way out.
4) Allowances are reduced at the slightest provocatio, to reduce running costs and stay in business.
5) Promotions don’t come as at when due unless you have a relative(s) in the system (Husbands or their colleagues are best bet). If you like, spend ten years in the system, you must have earned so much for the organisation either by “hook or crook” before you can move to the next level.
6) Monthly salary of a loan officer who has put in 7 years into the organisation and rakes in on the average, 5 Million naira monthly in disbursements or 18 numbers of loan seeking small business owners is less than 100k.

You may think my knowledge of this facts and figures are not entirely accurate so I hope nairalanders who have information can share on here, so we can be better informed about the situation or maybe members of staff of the organisation who can make a change can effect those changes.

The world is a global village now with internet and social media, Nigeria cannot be left out in benefitting from its rewards.

WIt is sad that an organisation can look so good on the outside but is actually a workshop of sorts, an anti-labour organisation where emotional turmoil is the order of the day.

Looking forward to comments and contributions.
Front page please!!!



(1) What is wrong with monthly targets.

(2)Allowances are reduced at slightest provocation? what do u mean by "slightest provocation". I don't know about the bank, but most firms have a policy where there are sanctions for various offences, such sanctions may include allowance deductions. So look up the bank policy on this, and if the deductions do not conform to d policy, then u can make complaints.

(3)The bank is under no obligation to transfer you whenever and wherever you like. They have the right and discretion to accept or decline ur transfer request. Have u thought if the bank needs extra staff at the branch u want to transfer to.

(4)What is wrong with monthly targets?

(5)What are the requirements for promotion. You said b4 u move up, u must have earned so much 4 d bank by hook or by crook. From this statement, I deduce that promotion is tied to performance. Do u want the bank to promote u when u haven't met the requirements which in this case is an outstanding performance, should the bank be promoting people who perform poorly, should they promote (or even retain u self) u when u earn nothing for the bank. You make it sound as if promotion is compulsory for everyone whether they perform well or not.

(6)There is nothing wrong with you earning 18k while bringing trillions of dollars to the bank for the past 25 years as long as you were preinformed of everything by the bank before taking the job. Before u took the job weren't u informed that u will be earning less than 100k. If it wasnt okay then why did u accept it in d first place.

3 Likes

Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 1:52pm On Dec 29, 2017
ultron12345:


(1) What is wrong with monthly targets.
Nothing is wrong with monthly targets, as a matter of fact targets or timelines are supposed to spur a professional into achieving deliverables in record time.
Sometimes, volume/amount to be achieved against a certain period of time.
Can be set by the individuals themselves, their supervisors or the organisation as a whole.
However, when the targets are set to stifle the abilities of the individual and kill their passion for the job what happens?
You may also want to ask if those unrealistic targets can be set by these foreign nationals in their own countries and for their own countrymen.
They are here and have the ability to do what they do because there are flaws in our system.
There’s poverty in the land and our people are willing to do whatever they can to earn a living at the detriment of their sanity.



(2)Allowances are reduced at slightest provocation? what do u mean by "slightest provocation". I don't know about the bank, but most firms have a policy where there are sanctions for various offences, such sanctions may include allowance deductions. So look up the bank policy on this, and if the deductions do not conform to d policy, then u can make complaints.
Allowances in general.
These are pre-agreed allowances that were embedded in the offer letter upon signing the contract of employment.
Except that the system has left the Nigerian employee at the mercy of the employers, we have the Labour and employment law which gives exclusive jurisdiction to the National Indutrial court (NIC) to try labour and employment disputes.
We have Employee compensation Act which is meant to protect the Nigerian from disputes as stated earlier.
A breach of agreement by law is illegal.



(3)The bank is under no obligation to transfer you whenever and wherever you like. They have the right and discretion to accept or decline ur transfer request. Have u thought if the bank needs extra staff at the branch u want to transfer to.
This is acceptable in organisations where it is preferred for employees to seek cheap accommodation far away from their branches to make ends meet.
This only happens in Shitty organisations where the customers are placed as priority far above the employees that do all the hardwork.
Where it is acceptable for defaulting customers to beat up/harass employees as far as the customer is ready to settle their outstanding repayments as previously agreed.
Yes, they have the right. But when there are 5 branches in your neighbourhood but you have to travel 40 kilometres to get to your assigned branch where a transfer cannot be approved.
And indeed there are other staff who also want to be transferred from where you’re seeking transfer to.



(4)What are the requirements for promotion. You said b4 u move up, u must have earned so much 4 d bank by hook or by crook. From this statement, I deduce that promotion is tied to performance. Do u want the bank to promote u when u haven't met the requirements which in this case is an outstanding performance, should the bank be promoting people who perform poorly, should they promote (or even retain u self) u when u earn nothing for the bank. You make it sound as if promotion is compulsory for everyone whether they perform well or not.

Do you have work experience Sir?
I mean from being an employee of a reputable organisation.
Then, you should know that promotions are a part of your career.
It is necessary for your organisation to promote you at least every two years or you’d be due to be shown the way out.
How would you resume in an office for years and not get promoted?
And of course you would have performed to be allowed to stay for that long.
So if you haven’t been promoted where you work Sir, please discuss with you line manager.
The fact that you have targets means you either meet them or leave, if you’ve stayed for seven years then you deserve to be promoted.
[/color]


[color=#000000](6)There is nothing wrong with you earning 18k while bringing trillions of dollars to the bank for the past 25 years as long as you were preinformed of everything by the bank before taking the job. Before u took the job weren't u informed that u will be earning less than 100k. If it wasn't okay then why did u accept it in d first place.


I agree that you can earn 18k for 25 years and not get a Salary review.
A salary review should take care of the incidence of inflation on an annual basis.
How do you cope as a professional if you don't at least get a salary review annually with the inflation rate of this country?
I am forced to believe that you need help from the shackles of bondage where you currently work or how can one explain your arguments?

Please be real and support the obvious.
It's 2017 not 1983 Sir.
You need to wake up to the realities of the millennium.
[color=#990000]
[/color][b][/b]

1 Like

Re: AB Microfinance Bank And Anti-labour Activities. by ultron12345: 2:36pm On Dec 29, 2017
[quote author=Mystical888 post=63713380][/quote]be there deceiving yourself, it is not ur fathers bank, if you are not okay with the salary, distance, targets, then leave or did they tie down your destiny there. When you leave, you can go and setup your microfinance bank and when u do, donn't set targets for ur marketers, allow ur workers to resume at any branch they like, allow them to come to work anytime, dress anyhow, behave anyhow, engage in fraud without sanctions, pay ur employees N10 million monthly for entry level and increase it by 300% annually and allow your staff to drive customers away because staff are more important than customers........as if
without the customers you be employed. mtcheeeew.

.
Dont give them job, they will complain, Give them, they will still complain.
.
Go and start ur bank and then you can start implementing ur friendly labour laws.....rubbish

1 Like

Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 2:53pm On Dec 29, 2017
ultron12345:
be there deceiving yourself, it is not ur fathers bank, if you are not okay with the salary, distance, targets, then leave or did they tie down your destiny there. When you leave, you can go and setup your microfinance bank and when u do, donn't set targets for ur marketers, allow ur workers to resume at any branch they like, allow them to come to work anytime, dress anyhow, behave anyhow, engage in fraud without sanctions, pay ur employees N10 million monthly for entry level and increase it by 300% annually and allow your staff to drive customers away because staff are more important than customers........as if
without the customers you be employed. mtcheeeew.

.
Dont give them job, they will complain, Give them, they will still complain.
.
Go and start ur bank and then you can start implementing ur friendly labour laws.....rubbish


There you go!
You've got it all wrong.
And it's not about me ultron, like i said earlier it's my niece who is involved.
Re: AB Microfinance Bank And Anti-labour Activities. by edoman2016: 9:42am On Dec 30, 2017
Mystical888:


There you go!
You've got it all wrong.
And it's not about me ultron, like i said earlier it's my niece who is involved.
I even believe AB microfinance bank has better working conditions compared to others. The fact is Nigerian graduates are lazy and have entitlement mentality. They don't want a job with monthly targets and that's why they hate marketing jobs. Nigerian graduates just want to sit in office, gossip and play around like civil servants.

3 Likes

Re: AB Microfinance Bank And Anti-labour Activities. by ultron12345: 12:31pm On Dec 30, 2017
edoman2016:

I even believe AB microfinance bank has better working conditions compared to others. The fact is Nigerian graduates are lazy and have entitlement mentality. They don't want a job with monthly targets and that's why they hate marketing jobs. Nigerian graduates just want to sit in office, gossip and play around like civil servants.
tell them, that's why they like government job

2 Likes

Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 9:27pm On Dec 30, 2017
edoman2016:

I even believe AB microfinance bank has better working conditions compared to others. The fact is Nigerian graduates are lazy and have entitlement mentality. They don't want a job with monthly targets and that's why they hate marketing jobs. Nigerian graduates just want to sit in office, gossip and play around like civil servants.
You seem to know alot about this institution.
Do kindly share let's compare notes.
Nigerian graduates compared to the graduates of which country?
You prefer they sit idle at home or earn a honest living with good working conditions and a regular take home?

ultron12345:
tell them, that's why they like government job
What's your point exactly Bro?
Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 8:51pm On Dec 31, 2017
ultron12345:
tell them, that's why they like government job

@ultron12345
Have you found a lasting solution to this your Microfinance bank challenge?
See link below?
https://www.nairaland.com/3889118/how-microfinance-banks-deal-debtors

Its a daily challenge for credit/loan officers that work in these institutions.
They face different risks on a daily basis wiith defaulting customers.
Sometimes, they have to "ensure payment" using their own meagre earnings when their clients fail to pay at month end.
Hope you see why their working conditions need to improve.
Re: AB Microfinance Bank And Anti-labour Activities. by ultron12345: 5:32pm On Jan 01, 2018
Mystical888:


@ultron12345
Have you found a lasting solution to this your Microfinance bank challenge?
See link below?
https://www.nairaland.com/3889118/how-microfinance-banks-deal-debtors

Its a daily challenge for credit/loan officers that work in these institutions.
They face different risks on a daily basis wiith defaulting customers.
Sometimes, they have to "ensure payment" using their own meagre earnings when their clients fail to pay at month end.
Hope you see why their working conditions need to improve.
what do u mean by "ensure payment using their earnings when clients fail to pay at month end".......pls, could u explain more
Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 11:39am On Jan 02, 2018
ultron12345:
what do u mean by "ensure payment using their earnings when clients fail to pay at month end".......pls, could u explain more

Gladly my dear!
If you have 10 customers for instance and one of them is suppposed to pay a sum of 30k at the end of January.

If for one reason or the other, the customer doesn't show up to make that payment it will affect your portfolio.

Your par goes up, your appraisal goes bad and you could get a warning letter if it continues.
To avoid such embarrassment or the risk of losing your job, you ensure payment by settling the client's monthly repayment on his behalf with your own personal funds.
When you rush at getting many clients for the company you also risk having many defaulters among them.
You also risk having bad loans and clients whose repayments pile up at your detriment.

So, what you regard as income is actually a means to recycle loans and pursue unscrupulous Nigerians around town trying ernestly to avoid repaying a loan.
Re: AB Microfinance Bank And Anti-labour Activities. by edoman2016: 3:23pm On Jan 02, 2018
Mystical888:


Gladly my dear!
If you have 10 customers for instance and one of them is suppposed to pay a sum of 30k at the end of January.

If for one reason or the other, the customer doesn't show up to make that payment it will affect your portfolio.

Your par goes up, your appraisal goes bad and you could get a warning letter if it continues.
To avoid such embarrassment or the risk of losing your job, you ensure payment by settling the client's monthly repayment on his behalf with your own personal funds.
When you rush at getting many clients for the company you also risk having many defaulters among them.
You also risk having bad loans and clients whose repayments pike up at your detriment.

So, what you regard as income is actually a means to recycle loans and pursue unscrupulous Nigerians around town trying ernestly to avoid repaying a loan.
What about the collateral security the borrower submitted to the bank? Won't the bank seize and sell the property the borrower submitted should he/she defaults in payment of loans as at when due?
Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 8:12pm On Jan 02, 2018
edoman2016:

What about the collateral security the borrower submitted to the bank? Won't the bank seize and sell the property the borrower submitted should he/she defaults in payment of loans as at when due?

Well, yes!
There's collateral security in case of default.
However, the situation is managed before it gets out of hand.
You won't know the client won't make payment until the date he's expected to make payment and he defaults.
It also costs money to mobilize a team to a client's shop or residence to confiscate his collateral.
Besides, a letter needs to be served the client first notifying him of your coming.
Most times, this is the last resort.
The Nigeria factor comes to play here.
Some will come with their Lawyer, others will involve the police.
Surprisingly, the agreement is re-written and payment terms change...a bad loan in your hands.
Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 7:41pm On Jan 04, 2018
Well, yes!
There's collateral security in case of default.
However, the situation is managed before it gets out of hand.
You won't know the client won't make payment until the date he's expected to make payment and he defaults.
It also costs money to mobilize a team to a client's shop or residence to confiscate his collateral.
Besides, a letter needs to be served the client first notifying him of your coming.
Most times, this is the last resort.
The Nigeria factor comes to play here.
Some will come with their Lawyer, others will involve the police.
Surprisingly, the agreement is re-written and payment terms change...a bad loan in your hands.
Re: AB Microfinance Bank And Anti-labour Activities. by gbokukueba(m): 9:15am On Jan 07, 2018
This is from someone that works there:

No...it not true. The bank has it's policies, just like every other bank.

-Resumption is 8am
- Close by 5pm
-What the person called 'sweat shops' are branches. AB is the only MFB in Nigeria that has offices as building of their own...not attachments.
- The promotion rate at branches is better than employees in the head office.
- The bank does not subject it's employees to anti labour exercise at all!
-The health package is higher than those provided for commercial bank employees.
- You can go on leave as it pleases you.
- The 'you need to have family b4 promotion' is totally wrong. You don't need to know anyone to get in or get promoted. Merit is the keyword.

- The major challeng AB has today started when Nigerians were pulled into the Management Team which was solely composed of expatriates. Now we have atleast 4 Nigerians in the Senior Management Team.

As you would expect....this has lead to favouritism and unequal distribution of annual salary increments and promotion....the promotion aspect mainly affect us in the head office.

Rhe truth now is, just a few are enriching themselves and this became the case when these Nigerians were empowered. They get benefits for jobs done by lower members of staff. While promotion is now given based on your oga's closeness to the M.D. (white) especially when the last one was around. We are expecting a new M.D. this month.

We blacks don't like evenness in wealth distribution...thats why we are where we are today.

The bank's employee turnover was high last year bekus the bank is facing competition from other banks....who entice employees with sweet salaries and reduced targets. The bank has failed in this regard bekus it maintains it annual yearly increments and targets.

If you get to the benchmark for promotion, it is enacted immediately. ( at the branch)

What I believe is that since the bank has refused to improve in the areas that interest employees the most which are salaries and bonuses....you can't force them...you pray you get a better offer elsewhere and move.

1 Like

Re: AB Microfinance Bank And Anti-labour Activities. by Mystical888: 8:47am On Jan 08, 2018
gbokukueba:
This is from someone that works there:

No...it not true. The bank has it's policies, just like every other bank.

-Resumption is 8am
- Close by 5pm
-What the person called 'sweat shops' are branches. AB is the only MFB in Nigeria that has offices as building of their own...not attachments.
- The promotion rate at branches is better than employees in the head office.
- The bank does not subject it's employees to anti labour exercise at all!
-The health package is higher than those provided for commercial bank employees.
- You can go on leave as it pleases you.
- The 'you need to have family b4 promotion' is totally wrong. You don't need to know anyone to get in or get promoted. Merit is the keyword.

- The major challeng AB has today started when Nigerians were pulled into the Management Team which was solely composed of expatriates. Now we have atleast 4 Nigerians in the Senior Management Team.

As you would expect....this has lead to favouritism and unequal distribution of annual salary increments and promotion....the promotion aspect mainly affect us in the head office.

Rhe truth now is, just a few are enriching themselves and this became the case when these Nigerians were empowered. They get benefits for jobs done by lower members of staff. While promotion is now given based on your oga's closeness to the M.D. (white) especially when the last one was around. We are expecting a new M.D. this month.

We blacks don't like evenness in wealth distribution...thats why we are where we are today.

The bank's employee turnover was high last year bekus the bank is facing competition from other banks....who entice employees with sweet salaries and reduced targets. The bank has failed in this regard bekus it maintains it annual yearly increments and targets.

If you get to the benchmark for promotion, it is enacted immediately. ( at the branch)

What I believe is that since the bank has refused to improve in the areas that interest employees the most which are salaries and bonuses....you can't force them...you pray you get a better offer elsewhere and move.

Hmmmn!
Nice hearing from a member of staff.
You denied the fact that promotion is based on merit and later contradicted your claim by saying the failure is due to the "black people" who have found their way up the ladder.

However, it's good that you agreed to most or all of the allegations.

Meanwhile, i never mentioned health plan.
But saying the health package is better than those of commercial banks is a discussion for another day.

- What are the benchmarks you mentioned for promotion at the branch level?
- What determines merit for a Senior Loan officer?
- Transfers don't come as required or on a need-to basis.
- Going on leave as one desires is different from getting transfers as required.
- Letters/Payslips are not issued to give a clear account of remuneration.

You've got mail Bro!
Re: AB Microfinance Bank And Anti-labour Activities. by ultron12345: 9:18am On Jan 08, 2018
Mystical888:


Gladly my dear!
If you have 10 customers for instance and one of them is suppposed to pay a sum of 30k at the end of January.

If for one reason or the other, the customer doesn't show up to make that payment it will affect your portfolio.

Your par goes up, your appraisal goes bad and you could get a warning letter if it continues.
To avoid such embarrassment or the risk of losing your job, you ensure payment by settling the client's monthly repayment on his behalf with your own personal funds.
When you rush at getting many clients for the company you also risk having many defaulters among them.
You also risk having bad loans and clients whose repayments pile up at your detriment.

So, what you regard as income is actually a means to recycle loans and pursue unscrupulous Nigerians around town trying ernestly to avoid repaying a loan.
loan officers are under no obligation by the bank to pay loans for customers from their salary. It was the loan offices that took that personal decision, after weighing the disadvantages of doing so and not doing so, and in their personal view, the disadvantages of not doing so, far outweighed the disadvantage of doing so. So they decided to use their salary to pay the loan by themselves, and it was not an obligation by d bank.

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