Do you need the Central Bank alone to do that? If yes, can they force UMB to merge with UT Bank or any other bank?
What about if UMB agrees with UT and writes to BoG?
Please, do not just get up and say anything because you ... read full comment
Do you need the Central Bank alone to do that? If yes, can they force UMB to merge with UT Bank or any other bank?
What about if UMB agrees with UT and writes to BoG?
Please, do not just get up and say anything because you have to say something on the day of your 1 year.
TRUTH AND INTEGRITY 7 years ago
This is brilliant idea!
This is brilliant idea!
lol 7 years ago
UMB, please be humble, you started small embroiled in unfair takeover allegations .. Even with all the attempts for government to channel monies through your bank , you still envy smaller banks.. Lose the name UMB and join GC ... read full comment
UMB, please be humble, you started small embroiled in unfair takeover allegations .. Even with all the attempts for government to channel monies through your bank , you still envy smaller banks.. Lose the name UMB and join GCB, others will follow
MICHAEL AGYEKUM 7 years ago
FBNBank Ghana has adopted scheme to cheat on a section of the staff. As much as these people cannot hit the street to make their case, some of us will resort to the media to do that.And I hope there will; series of such discu ... read full comment
FBNBank Ghana has adopted scheme to cheat on a section of the staff. As much as these people cannot hit the street to make their case, some of us will resort to the media to do that.And I hope there will; series of such discussions in the media from now until the right things are done.Below is a perspective on one of such thing.
MICHAEL TETTEH VOETAGBE IS DEVIL INCARNATE
Any person who can plot such a heinous crime against his own staffs perfectly qualifies as a devil incarnate.Group of staffs who have not done anything wrong except to say that they have advanced in age which is a natural phenomenon awaiting everybody will be thrown out as done by FBNBank Ghana is sheer wickedness. The previous CEO and the Head of Human Resource were architects of this act.
The whole process of disengagement of staffs in FBNBank Ghana in 2014 and 2015 beats the imagination of any right thinking person. The exercise was hatched by management with evil intentions so its execution did not follow any law of the country.
From start it must be understood that per the Companies Code of 1963 (Act 179), the authority wielded by management is derived from the Board of Directors. Management on their own cannot implement any decision unless granted the authority by the board. It was obvious that the exercise carried out by management did not follow the terms of approval by the Board. This act by management from start was void and has no effect in as much as it was not according to the terms approved.
Then moving on from here, assuming the action was voidable, management could not locate the appropriate law under which the exercise was carried out. The Labour Act of Ghana has provided the various relationships between the employer and employee and the ways this relationships can be terminated.The description of the exercise as communicated to the affected staffs is not recognized by our laws.
Now the process of carrying out the disengagement was fraught of breaches. Management prior to carrying out the exercise had some staffs in mind so they imposed on those staffs. The staffs were not made to apply for the dispensation but were suddenly served with letters specifying their benefits. Then was another group of staffs who applied for the dispensation and was approved. This was also paid some dispensation. The third group of staffs applied but was denied even though it qualified generally under the terms approved by the Board. For this group in particular no compensation was paid to them. The compensations paid to the staffs were not done according to what the Labour Act recommends. So one notes that the whole exercise has been fraught with illegalities, from the start to the end. The first two groups are in court, asking the court of some remedies. It is our hope that the court will expedite actions for the affected staff to continue their lives and to save them the little money paid to them, in legal fees. For the third group, the Board of the Bank has been petitioned to reverse the decision of management and to order it to do the right thing before that also ends up in court.
It is important to lift the corporate veil to find out the particular management members behind these unprofessional and wicked actions against a section of staffs. It is an open secret that some officials of the mother union were given money to sleep over these illegalities. There will be denials but it is known money exchanged hands.
The ex CEO of FBNBank Ghana who has been recalled to Nigeria was behind these actions supported by our own Ghanaian Head of HR, Michael TettehVoetagbe. This HR man was with Access Bank and joined the bank as ICB for barely two years before FBNBank took over. His unprofessional conduct at Access Bank made it convenient for him to be sidelined. He is not only unprofessional but seriously wicked and selfish. He did not see the resettlement package to employees whose age of 50 years as compensation for the difficulty they will face to get employed by any organization in the formal sector after several years of dedicated service. He was actively in complicity with the CEO to carry out this heinous act to people who worked their lives out for the bank before he joined from Access. From hind sight it is worthy that Access Bank sidelined him and did not allow him to mess up the bank.
The effects of their actions are in certain cases devastating to some families. A former employee has gotten divorced by the wife. One of the children has gotten herself impregnated by a Nigerian guy because of the inability of this man to take care of her daughter. The siblings of this lady have their education terminated because their school fees cannot be paid. Also is the case of ejection from the house where the employee lives. He cannot regularize the payment of his rent advance. All these have been caused by a devil incarnate in the person of Michael TettehVoetagbe in particular
I don’t know how he will feel after reading this writing. Will he be happy or sad? Can he now see the harm he has caused to some families by his wicked and unprofessional conduct? He allowed himself to be used as a pawn by the Nigerian CEO who has left him behind to live with his own folk people.
This development also tells quite about the sort of foreign investors we invite into this country in the name of providing jobs. They are principally here to make money to repatriate to their home countries. The conduct of some officials from our West African countries is worrying. Many people have had the opportunity to complain about their treatments of their Ghanaian counterparts especially in the banking industry. It is not a good commentary to make about them. They must understand we in Ghana have a different culture and it is important they note that when they go to Rome they do what Romans do.
The business ethics practiced by some banks should be examined properly by the Regulators of the banking industry. If FBNBank Ghana can treat their own staffs who have helped to create value for the shareholders in this manner, what then cannot be done to unsuspecting customers? If they can look into the faces of their employees and cheat them, cant they cheat customers? Operating barely a year in a country and the bank is in court because of illegalities should be a concern. The Board and management should do much to purge the wrong image the Bank has taken upon itself in this short period. Staff disengagements have been done by other banks in the past and none has been settled through the legal system.
Do you need the Central Bank alone to do that? If yes, can they force UMB to merge with UT Bank or any other bank?
What about if UMB agrees with UT and writes to BoG?
Please, do not just get up and say anything because you ...
read full comment
This is brilliant idea!
UMB, please be humble, you started small embroiled in unfair takeover allegations .. Even with all the attempts for government to channel monies through your bank , you still envy smaller banks.. Lose the name UMB and join GC ...
read full comment
FBNBank Ghana has adopted scheme to cheat on a section of the staff. As much as these people cannot hit the street to make their case, some of us will resort to the media to do that.And I hope there will; series of such discu ...
read full comment