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First Bank Withholds Dead Customer’s Balance Over Strange Loan—-A civil servant living in Iwo, Osun State, has shared how First Bank refused to release the money in her late husband’s account.

The civil servant, who does not want to be named, told FIJ that the state government under former governor Rauf Aregbesola owed workers, including her late husband, three years’ half salaries.

In 2023, Ademola Adeleke, the current governor, began paying part of the backlog of unpaid salaries. FIJ learned that when the widow tried to access the money at First Bank, where her husband’s account was domiciled, the bank told her that the money had been written off for a purported unpaid loan, and that she could not withdraw it.

This revelation was surprising because, according to the woman, her husband did not take any loans. Also, when she first went to the bank to confirm the payment in September 2023, the bank official who verified it didn’t mention any unpaid loan.

 

She noted that even after her husband’s passing in 2020, she still carried out some transactions on the account until the debit card issued to the deceased expired. “After I learned that the government had started paying part of the unpaid salaries, I went to his bank in Iwo in September 2023.

An official told me that about N108,000 had been paid into my husband’s account. However, I could not access it because it was not my account,” she told FIJ. “Then I made inquiries from my colleagues, and I gathered that I would have to notify the state government, who would then reach out to the bank so the money could be released to me.”

The deceased man’s wife told FIJ that she secured a letter of administration, dated November 23, 2023, from the state government through the state’s ministry of justice.

“I took the letter to First Bank in Iwo. I also wrote a letter of reactivation of the account, but I still could not access the money. I went to the bank again sometime in February 2024, and an official claimed the account had been written off due to loan balances.

But I know my husband had no unpaid loan. “When I asked them to provide his account statement, the official said I wouldn’t be able to get it. But he said he would email the headquarters about the whole issue.” In response to FIJ’s email sent in March, Thaddeus Ozioko, an official from First Bank, wrote:

“In consideration of the sensitive nature of your request, we regret to inform you that we are unable to provide assistance through this channel. Kindly note that your request will need to be addressed in person at one of our branches.”

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How Sterling Bank Uses Tiered Salary Structure to Hold Down Staff Without Promotion

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Sterling Bank

How Sterling Bank Uses Tiered Salary Structure to Hold Down Staff Without Promotion—-Sterling Bank’s recent 7% salary increase which was announced earlier this month has been met with widespread criticism and disappointment among its employees, who feel undervalued, overworked, and underappreciated.

According to sources, the bank’s Executive Trainees (ETs) will receive a monthly raise of ₦24,000, from ₦327,000 to ₦351,000, while Senior Executives will receive a monthly raise of ₦27,000, from ₦500,000 to ₦527,000.

Employees have expressed frustration and disappointment with the raise, citing the bank’s failure to keep up with Nigeria’s soaring inflation rate.

The tired salary structure of the bank has sparked a crisis of morale and motivation among Sterling Bank’s staff, with employee engagement and productivity hitting an all-time low. This has significant implications for the bank’s business, as customer satisfaction is likely to suffer.

In contrast, other banks in the industry have taken a more aggressive approach to salary increases. Union Bank and GTBank raised salaries by 40% in late 2024, in a bid to retain top talent in an industry plagued by high employee turnover and poaching.

Research shows that competitive salaries are key to reducing employee attrition in Nigeria’s banking industry. Sterling Bank’s failure to deliver on this front may have far-reaching consequences for its business.

All attempt to get Sterling Bank’s management to respond as at press time proves abortive, but insiders say that the bank’s leadership is aware of the growing discontent among its employees.

As the situation continues to unfold, one thing is clear: Sterling Bank’s employees will not be silenced, and they will continue to demand a fair and living wage.

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Arsenal Close Gap On League Leader Liverpool Following Hard Fought Victory Against Spurs

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Arsenal Close Gap On League Leader Liverpool

Arsenal Close Gap On League Leader Liverpool Following Hard Fought Victory Against Spurs—-Arteta men claimed a vital 2-1 win against Tottenham this evening, closing the gap on the Premier League leader Liverpool who drew to in-form Nottingham Forest.

The Gunners capitalised on Liverpool’s dropped points the night before, delivering a determined performance in front of a raucous Emirates crowd.

From the first whistle, Arsenal’s intent was clear. Leandro Trossard forced an early block from Spurs’ defence as the Gunners dominated possession and pinned their rivals back. Despite Arsenal’s control, Spurs managed to carve out a threat on the counter, with Dejan Kulusevski forcing a superb save from David Raya.

Tottenham silenced the Emirates temporarily when they opened the scoring against the run of play from a corner, showcasing their resilience despite being on the back foot for much of the first half.

Undeterred, Arsenal resumed their dominance after the break. Their persistence was rewarded when Dominic Solanke turned a dangerous Arsenal corner into his own net, levelling the scores. Just four minutes later, Trossard electrified the crowd with a stunning strike, completing the Gunners’ comeback.

Kai Havertz had a golden opportunity to extend Arsenal’s lead but sent his header wide. Meanwhile, Spurs pushed for an equaliser, with Ange Postecoglou introducing changes to inject life into his side. However, the visitors struggled to create clear-cut chances against a disciplined Arsenal defence.

Pedro Porro came closest to rescuing a point for Spurs when his effort struck the post, but the Gunners held firm to secure yet another memorable derby victory.

The result further solidifies Arsenal’s position in the title race and serves as a timely confidence boost after recent setbacks. For Spurs, the loss adds to a season of inconsistency, leaving them with much to ponder.

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