Tag: Mainstreet Bank

  • Court restrains firm, others over school

    A Federal High Court, Lagos, has restrained Mainstreet Bank Estate Company Limited, Charles Njoku and Bako Ishaku from intimidating or harassing the occupants of Milhills Schools Limited, Lagos.

    The order, made on March 21, followed a motion ex-parte by the plaintiffs –Dr Valerie Samuel and the school, dated March 19.

    The court, presided over by Justice Rita Ofili-Ajumogobia, made an interim order directing the defendants to desist from assaulting or threatening the applicants through phone calls, letters and others means.

    It further directed the defendants to desist from instigating the police to arrest, harass or threaten any parent of the children of Milhills Schools Limited, “for instance, Pastor Ndukwe Chinaka.”

    The defendants were barred from disturbing the plaintiffs/applicants from operating the school’s accounts with Mainstreet Bank Limited, with account number 6500715180.

    The judge directed that the plaintiffs/applicants give an undertaking as to damages should it turn out that the order ought not to have been made.

    The plaintiffs, had, among others sought “an interim injunction directing the respondents herein, whether by themselves, their agents, servants, privies or otherwise howsoever to refrain from entering upon the premises of the applicants’ Milhills Schools and home at No. 3 Oduduwa Crescent, Ikeja GRA, Lagos State, for the purposes of assaulting, harassing, intimidating, molesting, embarrassing, threatening, trailing and/or in any other manner disturbing the peace and tranquility of the applicants and/or members of their family, staff and children of Milhills Schools.”

    They prayed that the interim injunctions subsist pending the hearing and determination of the case.

    Justice Ofili-Ajumogobia adjourned further proceedings till April 11.

    Meanwhile, trial will begin in a related suit before an Ikeja Magistrates’ Court Lagos, presided over by Magistrate A.A. Demi-Ajayi, on April 24.

  • Mainstreet Bank, ex-staff agree on 100% gratuity

    Mainstreet Bank, ex-staff agree on 100% gratuity

    Mainstreet Bank at the weekend demonstrated its commitment to corporate social responsibility (CSR) as the management of the bank undertook to pay 100 per cent gratuity to former staff of the defunct Afribank Nigeria Plc.

    The agreement between the management of Mainstreet Bank, Association of Senior Staff of Banks, Insurance and other Financial Institutions (ASSBIFI), National Union of Banks, Insurance and other Financial Institutions Employees (NUBIFIE) and the Federal Ministry of Labour and Productivity would see the staff of former Afribank Nigeria Plc who were in the employment of the defunct bank as at August 5, 2011 receiving 100 per cent of their gratuity, according to a statement from the management of the bank.

    The Purchase and Assumption Agreement that led to the emergence of Mainstreet Bank Limited did not move the staff gratuity liabilities of the defunct Afribank Nigeria Plc to Mainstreet Bank Limited. Therefore, Mainstreet Bank Limited was not legally obligated to pay the gratuity of the staff of the defunct Afribank.

    The management of Mainstreet Bank, however, said it decided to put human face to the whole bridge mechanism, which had seen National Deposit Insurance Corporation (NDIC) taken over the delinquent Afribank, following the revocation of its banking licence by the Central Bank of Nigeria (CBN).

     Mainstreet Bank commended the contributions of the Federal Ministry of Labour and Productivity and Asset Management Corporation of Nigeria (AMCON), noting that the agreement was reached after months of negotiation brokered by the Federal Ministry of Labour and Productivity between the bank and the labour unions. AMCON is the beneficial owner of Mainstreet Bank.

    “We wish to express our appreciation to the Federal Ministry, AMCON and the officials of the unions for their efforts in resolving the labour issue,” the bank stated.

    It reiterated its commitment to providing excellent services to its numerous customers, assuring that the bank has been repositioned to compete effectively in terms of technology and innovative products.