Friday, 27 September 2013

Reps To Sanction Mainstreet Bank

The House of Representatives' Committee on Banking and Currency has threatened to issue a bench warrant against the Managing Director and Chief Executive Officer of the Mainstreet Bank, Mrs. Faith Tuedor-Matthews, for her failure to honour the invitation of the Committee .

The Committee is probing last year sack of Six Hundred and Seventy staff of the Bank and the refusal to pay terminal benefits.

The MD did not appear in person but delegated the Executive Director in charge of Operations, Mr. Anogwi Anyanwu, to stand in for her and on behalf of the company.

Chairman of the committee, Jones Onyereri, who did not hide his anger over the development insisted that the committee would not accept anybody else to speak for the bank apart from the MD.

The bank reportedly terminated the appointments of 670 of its staff, most of who were of management cadre, last year and also allegedly refused to pay them their terminal benefits in accordance with the rules of engagement.

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