Following the intervention of the Federal Government through the Ministry of Labour and Employment, the Association of Senior Staff of Banks, Insurance and Other Financial Institutions (ASSBIFI) has temporarily suspended its planned actions against Heritage Bank over the sack of workers without severance benefits.

The move, President of ASSBIFI, Olusoji Oluwole, said was for the bank’s management to resolve the matter amicably to avert industrial disharmony.

Olusoji, while addressing journalists, however, said the union gives the lender a 21-day ultimatum to settle the workers’ exit claims and comply with the laid down procedures or face industrial action.

He said the Minister of Labour and Employment, Simon Lalong, had last week scheduled a meeting between the union and the bank to resolve the matter but the bank failed to attend.

He alleged the bank requested a reschedule without justifiable reasons, alleging that the bank was known for neglecting workers’ concerns.

“ASSBIFI has granted a 21-day ultimatum to the management, believing that this time frame is sufficient for Heritage Bank to review its position and reach a mutually satisfactory resolution, as ASSBIFI is genuinely interested in the progress of the bank.

“In adherence to established rules and regulations and out of respect for the Ministry of Labour and Employment, the leadership of ASSBIFI has agreed to attend the rescheduled conciliation meeting.

“While we appreciate the intervention of the ministry, we hope that Heritage Bank will respect labour standards and adhere to due process to avoid any unnecessary workplace crisis,” he said.

However, efforts to reach the bank proved abortive as calls placed to the corporate communications units were not picked up at the time of filing the report.