The Union of Industry, Commerce and Finance Workers (UNICOF) has expressed disappointment in the Bank of Ghana(BoG) for allowing the Managing Director and Board Chair of ARB Apex Bank to occupy their positions while under investigations.
The union, on Monday directed all workers of Apex Bank to tie red cloths around their wrists as a sign of protest against what they described as mismanagement of the bank, leading to loss of funds.
The Governor of the Bank of Ghana in reaction to the issue assured that investigations are ongoing.
But Speaking to Citi Business News, the General Secretary of UNICOF, John Senanu Amegashie was of the firm belief the investigations may be compromised if the two are made to still occupy their positions during the process.
According to him, the MD will still hold supervisory powers over all the workers in the bank hence could direct people to undertake actions that may compromise the findings.
“It is just fair that when one is being investigated, the person must be allowed to step aside. If after the investigations all the issues that we have raised, he is found culpable, fine, if not he can come back and enjoy his position,” he said.
“But being the Managing Director and being investigated while he still remains at post we thought it will not produce any fair hearing. That is why we ask that he be allowed to step aside while the investigations continue. All the subordinates in the bank work under the managing Director, how will you feel if your managing director directs you to do otherwise during the investigations?” he queried.
Red cloth around wrist
Workers of ARB Apex Bank expressed their disappointment at the dwindling fortunes of the bank, directing all workers across the country to display red piece of material around their wrist or hand.
According to the workers, “the red has become necessary to let stakeholders understand that the Union workers of the bank are not happy about the events at the bank.”
They pointed out that the bank’s performance has dwindled due to disrespect for the bank’s L.I in the extension of the MD’s term as well as disrespect for the Union and labour relationships.
In addition, the UNICOF accused the board of biased and unprofessional approach in the handling of the Union’s petition in solving the issues
“The autocratic nature of the board chairman and his personal relationship with the MD which are affecting the governance of the bank and a split board that appointed the MD will affect the progress of the bank,” the statement said.
The union further warned that “our red is sending a note of caution to all stakeholders that we will not to sit down for the worse thing to happen to our bank and the rural banks”.
“We therefore demand a speedy process that will see to it that the board corrects the constitutional flaw accompanying the second term appointment.
The Union is also demanding a fair and an independent investigation into the allegations made against the MD,” it said.
By: Lawrence Segbefia/citibusinessnews.com/Ghana