The Abuja Division of the National Industrial Court has ordered Aztec Microfinance Bank Limited to withdraw criminal allegations against its former staff, Mr. Kolawole, bordering on unlawful seizure before the Nigerian Police Force.
Hon. Justice Emmanuel Subilim, who presided over the case, also directed the Directors of the bank to jettison all defamatory claims against Mr. Kolawole.
The Court ordered Aztec Microfinance Bank to pay Mr. Kolawole the sum of N4,000,000 (four million naira) as a severance package.
Justice Subilim entered the judgment in accordance with the terms of the settlement consented by both parties, in substantial compliance with the rules of the court.
The ruling came after both parties reached an amicable settlement and filed Terms of Settlement in court to be adopted as a consent judgment of the Honourable Court on the 18th Day of April 2024.
Background
Mr. Kolawole, a former employee of Aztec Microfinance Bank, alleged that certain payments and allowances went unpaid by the bank during his employment. These included outstanding housing allowance, unpaid salary, annual leave pay, terminal leave pay, fuel allowance, and car depreciating allowance amounting to a total of N45,233,000.
After departing the bank, Mr. Kolawole demanded that Aztec Microfinance Bank pay him the money he believed were owed to him from his employment period.
Aztec Microfinance Bank then leveled criminal allegations of unlawful seizure against Mr. Kolawole before the Nigerian Police Force.
The bank’s directors also made defamatory claims against the former employee.
Facing criminal allegations and defamation from his former employer, Mr. Kolawole decided to take legal action.
He approached the National Industrial Court in Abuja seeking redress and a ruling in his favor regarding the outstanding payments as well as the withdrawal of the criminal allegations and defamatory claims made by the bank against him.
Court’s Decision
Justice Emmanuel Subilim ruled on the terms of the settlement as agreed by both parties and awarded no cost of action in the spirit of an amicable settlement.
Justice Subilim ordered Aztec Microfinance Bank to withdraw the criminal allegations of unlawful seizure against Mr. Kolawole before the Nigerian Police Force.
Additionally, the bank’s directors were directed to jettison all defamatory claims made against him .
The court ordered Aztec Microfinance Bank to pay Mr. Kolawole the sum of N4,000,000 (four million naira) as a severance package.
Furthermore, the terms of the settlement required Mr. Kolawole to immediately return the official vehicle in his custody to the acting Managing Director or the Company’s Secretary.
He was also mandated to retract and recant the defamatory memorandum sent to the Board of the Bank dated 27th February 2024, and undertake not to tarnish the image of the bank, its Directors, Shareholders, and staff.
As part of the settlement, Aztec Microfinance Bank agreed to write off the principal sum and interest on the loan advanced to Mr. Kolawole, amounting to N6,445,492.02.
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