Enterprise Bank commences payment of gratuity to ex-staff

Enterprise Bank said that it has commenced the payment of gratuity to the former employees of the defunct Spring Bank Plc.

A statement by the Head, Corporate Communications, Enterprise, Olusola Longe-Okenimkpe, said about 817 ex-workers would benefit from the exercise meant to seal issues related to staff welfare of the defunct bank that ceased to exist two years ago.

Longe-Okenimkpe said that already about 235 former employees of the defunct bank numbering about 235 had been fully paid.

The statement stated that, 'Under the defunct Spring Bank Staff Policy, as contained in the Staff Hand Book, the gratuity scheme states that any member of staff, who has served for five years and above and is retiring, or leaving service for reasons other than dismissal on account of fraud, miss-conduct or any criminal offence shall receive a gratuity based on total years of service.

'To uplift the morale of the 582 ex-workers of the defunct bank, who are still in the employment of Enterprise Bank but had stayed up to five years as stipulated in the policy, the management of Enterprise Bank has begun paying their calculated entitlements.'