Workers' interest not thrown overboard - Liquidator
Call off intended strike - ICU told
Workers' interest not thrown overboard - Liquidator
Accra (Greater Accra), 31st January 2000
The liquidator of the two distressed banks said at the weekend that it has made significant progress in negotiations with workers of the Bank for Housing and Construction (BHC) over their offer to acquire assets of the bank.
Briefing the press in Accra, Mr. Felix Addo, a Consultant to the Official Liquidator, said a revised offer by the workers is seriously being considered, adding: "It has not been thrown overboard".
He said they have also made honest efforts to protect depositors' interests and urged all parties to exercise restraint and offer their maximum co-operation to ensure a smooth transition.
The liquidation process, especially the sale of assets, will be fair, transparent and open to all interested bidders.
Following the liquidation of the BHC and the Ghana Co-operative Bank by the shareholders, the management and workers of the BHC demanded to take over assets of the bank including the 15-branch network.
Mr. Addo admitted that there were hiccups in the initial talks due to what he described as 'certain untenable proposals' in the BHC workers' demand, but said there has been substantial progress after they were revised, significantly focusing on only selected assets.
In their initial proposal, the BHC workers requested, among other things, that the liquidator hand over the bank's entire asset portfolio estimated at over 100 billion cedis for 13 billion Cedis and that the government should take responsibility for all liabilities.
Mr. Addo said the revised proposal is now for only selected branches and at a higher price offer, making it a competitive offer.
He said government is mindful of the plight of the 900 staff of the two banks, including 500 from the BHC and would not do anything to make them worse off.
He said all arrears due the workers have been fully paid, adding that the government topped up their salaries and paid them a full month's arrears instead of the two weeks' payment legally due them.
It was also the concern of government to proceed cautiously with the exercise so as not to create panic withdrawals, which could jeopardise the entire banking system.
Mr. Addo said fortunately, the process has so far been "fairly successful" as the government has made available 90 billion cedis to pay depositors and salaries as well as other claims of workers.
He asked the staff of the BHC who have not yet received their January salaries to do so at the designated branches, adding that the Co-operative Bank staff have already been paid.
Payment on foreign accounts and maturing treasury bills will begin by mid-week at the recipient banks.
He explained that the selection of Ghana Commercial Bank (GCB) and the Agricultural Development Bank (ADB) as recipient banks was based on some critical factors, including their geographical spread, convenience and customers' profile.
In all, about 180,000 accounts belonging to both BHC and the Co-op Bank have been moved to the recipient banks.
Mr. Addo said the150 billion cedis liabilities of the BHC included 88 billion Cedis depositors' money and 20 billion cedis owed the central bank.
The Co-op Bank owed about 70 billion Cedis with 24 billion due the central bank.
The valuation of assets of the banks is anticipated for this week, Mr. Addo said, promising a "fair and transparent" exercise.
Based on the valuation, a Sale Memorandum will be issued, describing items on sale and inviting bids and proposals from interested buyers.
"All legitimate and responsive proposals including those from the workers and management of the BHC will be considered."
He said a creditors' meeting is anticipated for late February to assess liabilities of the two banks and distribute dividends based on proceeds from the sales.
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SSNIT increases pension
Tamale (Northern Region), 31st January 2000
The Social Security and National Insurance Trust (SSNIT), has announced a 20 per cent increase in its pension levels with effect from January this year.
The increase is in line with SSNIT's policy to adjust pension levels upward every year to make life more bearable for its pensioners.
Nana Barima Ansu-Adjei, Northern Regional Manager of the Trust, announced this at an end-of-year get-together for members of the National Pensioners Association (NPA), at Tamale on Saturday.
He said since the Social Security Scheme is indispensable, administrators of the scheme have to ensure strict compliance of employer-worker obligations under it.
Nana Ansu-Adjei, who is also the Krontihene of Dormaa Traditional Area, stressed the need to extend pension to the informal sector.
Alhaji Salifu Issifu, Regional Chairman of NPA, called on pensioners to endeavour to acquire identity cards to enable them to enjoy the free old age medical assistance scheme.
The Acting Regional Secretary, Mr. Salifu Mahama, called for a solution to the plight of pensioners especially those who were in the low-income group.
Mr. Mahama appealed to SSNIT either to raise the monthly pension allowance from 10,000 to 50,000 cedis or to give the government a minimum pension allowance.
Alhaji Mohammed Haroon, Executive Member of the Northern Foundation for the Aged, called on government to consider putting up suitable structures and wards for pensioners at health institutions.
He also called on SSNIT to support efforts to enable pensioners to get free medical care.
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Call off intended strike - ICU told
Accra (Greater Accra), 31st January 2000
The Ministry of Employment and social Welfare has called on the leadership of the Trades Union Congress (TUC), to advise the General Secretary of the Industrial and Commercial Union (ICU), Mr. Napoleon Kpoh to call off the one-week nation-wide industrial action scheduled to start from today, Monday, January 31.
A statement in Accra signed by the Minister of Employment and Social Welfare, Alhaji Muhammad Mumuni, called on ICU to stop the intended action and to pursue any legitimate grievance through the laid down procedures.
The statement said the attention of the Ministry, has been drawn to a statement by Mr Napoleon Kpoh, announcing the intended nation-wide industrial action.
The Ministry said it is surprised by the stand of Mr. Kpoh, especially, because the issues raised in his statement are before the Tripartite Committee comprising the Ghana Employers Association, TUC and the government.
It said the last meeting of the Tripartite Committee was on Wednesday, January 26, 2000, which was attended by Mr. Kpoh.
The Ministry therefore considers the intended strike "not only as a stab in the back of the Tripartite Committee but also a deliberate attempt to create unnecessary tension on the labour front".
It said the Ministry has taken note of the directive by the Ghana Employers' Association that any employee who refuses to report for work would be considered as having vacated his/her post and would face the appropriate sanctions.
The Ministry urged all employees concerned to be mindful of their contractual obligations under the respective collective bargaining agreements signed with their employers.
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