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    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

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    Zenith Bank ceases trustee services in unit trust schemes in Ghana

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Stanchart and UNICOF rift deepens

bycitibusinessnews
July 14, 2015
in Banking And Finance, Business, Top Stories
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Standard Charted Bank has called the bluff of the Union of Industry Commerce and Finance Workers (UNICOF) over its move to strike following the bank’s move to lay off some of its workers.

[contextly_sidebar id=”kvL2W6x4nsS0AeSQcYFCQjJ8PBaC5Cr0″]According to Standard Charted Bank the National Labour Commission’s (NLC) ruling on the matter is binding on all parties in the case.

The NLC Wednesday 24th June  2015 heard the matter brought by Standard Chartered Bank Ghana Limited (complainants) against the (UNICOF) (respondents) over the deadlock on the determination of redundancy pay for the workers to be laid off.

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But UNICOF upon receipt of the ruling from the NLC filed for a review describing the decision of the NLC as ambiguous and has served notice to embark on strike.

But speaking to Citi Business News Regional Head Corporate Affairs of Standard Charted bank Nii Okai Nunoo said ‘you would appreciate that we are unable to comment on this case as it is the subject of legal proceedings, however we can say that the National Labour Commission has adjudicated on this matter and has delivered its decision which are binding on all parties.

Standard Chartered always seek to adhere to the highest standard of international compliance and country laws and regulations.” He said

He assured the bank’s commitment to the law in the pursue of the matter before the law court.

Meanwhile Lawyer for UNICOF in an interview with Citi Business News warned Standard Charted Bank to stop the redundancy process.

According to lawyer for UNICOF Charles Bawaduah Standard Charted Bank will have themselves to blame if the redundancy plans are not halted immediately.

“Let me say that once the bank has been served with an application for injunction …. an application for an injunction is as good as an injunction by itself. So for the bank to proceed, to be dolling out monies and others, calling it redundancy package to the worker, when in fact the injunction is still pending then the bank is acting in gross disregard of the application and that is bringing the administration of judicial service to disrepute.”

Lawyer for UNICOF Charles Bawaduah advised the bank not to risk any such move which will in turn hurt them badly.

–

By:  Norvan Acquah – Hayford/citifmonline.com/Ghana

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