₦airaland Forum

...Unions threaten to picket banks

by Kelvin Osa Okunbor


Office of the Nigeria’s Accountant General is at loggerheads with eight banks for unauthorised withholding of over N700million paid in error into the accounts of some former workers of the Nigeria Airways in their banks.

The unprofessional conduct of the banks in not returning the huge sum paid in error into accounts of ex – Airways workers is creating tension between the banks and the office of Accountant General.

The N700 million represented the extra money that was mistakenly paid into the account of some of the former workers who were paid twice by the government.

The payment came after a verification exercise on the former workers of the defunct national carrier.
A source hinted that the N700 million overpayment, was part of the N22 billion approved by government as the final N45 billion severance entitlements approved for former workers of liquidated Nigeria Airways Limited.

A source hinted that efforts made by the Accountant General and the National Union of Pensioners (NUP), representatives of the workers to make the banks refund the money to the Accountant General’s office has not yielded positive results.

Rather than return the N700 million into the accounts of the affected workers, the banks have failed and are allegedly trading with the money.

The eight banks affected include: the First Bank which is said to be in possession of the lion share of 80 per cent of the money in question.

Other banks include: Diamond, Fidelity, Polaris, Zenith, Stanbic and Ecobank.

While the eight banks failed to comply with the agreement to refund the money, few others are said to have voluntarily returned the money mistakenly paid into the accounts.

The banks that have fully refunded the money are: GTB, Keystone, Standard Chartered, Unity and UBA.

While the office of the accountant General was said to be unhappy with the banks, the union representatives of the former airline workers have given the banks one-week ultimatum which ends this week to return the money.

Former workers of Airways said should the banks fail to return the money this week, they will picket the banks first thing next Monday.

The refusal of the banks to refund the money is said to be slowing down the ongoing payment of the last batch of the former workers entitlements.

http://thenationonlineng.net/eight-banks-withhold-n700m-overpaid-ex-airways-workers/

Banks and stealing from the citizens, one day we will do them back O!

The N700 million represented the extra money that was mistakenly paid into the account of some of the former workers who were paid twice by the government.

Methinks there was no error.... The criminal elements that were in the business of double creditting on payment schedules & asking banks to pay the overage into a dedicated account to be "refunded" back to the MDA account later tried their hand but didnt work out this time.... corruption don chop the essence of our souls for obodo naija...

Maybe BVN deserves the credit or plain fear of what the thin tall Daura cowboy fit do dem...

A source hinted that efforts made by the Accountant General and the National Union of Pensioners (NUP), representatives of the workers to make the banks refund the money to the Accountant General’s office has not yielded positive results.

How powerful are the banks to decide not to refund the OGF? There are hands of Esau here in this situation.... Nothing about this situation spells normal..

This news is vague to me!
If money was paid twice to beneficiaries, the bank needs their consent before reversals can be done. Also, I don't see how banks will be 'trading' with excess money paid to beneficiaries as alleged here, as if the banks never had money to trade before these payments were made.

modath:
How powerful are the banks to decide not to refund the OGF? There are hands of Esau here in this situation.... Nothing about this situation spells normal..

The Banks should do the needful if they have integrity

The AG may be culpable....That overpayment may be deliberate. No agency makes mistake with such huge amount, hence the boldness of banks witholding.

Why happened to reporting them to CBN?

Even without reading the article I knew GTBank will be the first to comply, and First Bank will be the last.

234GT:
This news is vague to me!
If money was paid twice to beneficiaries, the bank needs their consent before reversals can be done. Also, I don't see how banks will be 'trading' with excess money paid to beneficiaries as alleged here, as if the banks never had money to trade before these payments were made.

Banks don't actually need your consent in reversals especially when its noticed on time.
The same way the money came in, it will be reversed.
You'll not get an alert on that reversal.

Machini:
Even without reading the article I knew GTBank will be the first to comply, and First Bank will be the last.

Abeg make First Bank no use dis matter do unnecessary deduction from my money oooooooo

The banks will soon deny this.

Waspy:
The AG may be culpable....That overpayment may be deliberate. No agency makes mistake with such huge amount, hence the boldness of banks witholding.

How come By bank and Standard chartered have fully complied?

Hmmm

That's why I love GTB.... The Ogbonge bank. Always trustworthy.

Some haven't even been paid at all, e.g my dad.

Imagine your colleagues collecting money and you looking on. Not cool

modath:
Methinks there was no error.... The criminal elements that were in the business of double creditting on payment schedules & asking banks to pay the overage into a dedicated account to be "refunded" back to the MDA account later tried their hand but didnt work out this time.... corruption don chop the essence of our souls for obodo naija...

Maybe BVN deserves the credit or plain fear of what the thin tall Daura cowboy fit do dem...

Walahi you no well

MizTyna:
Some haven't even been paid at all, e.g my dad.

Imagine your colleagues collecting money and you looking on. Not cool

awww! That's bad. I hope he gets paid very soon. My papi don spend some of hin own on his projects.

oloriLFC:
awww! That's bad. I hope he gets paid very soon. My papi don spend some of hin own on his projects.

I can imagine, same for his friends. We are just trying to console him, I hope something changes very soon