Mainstreet Bank MD Faith Tuedor-Matthews, Management Run Helter Skelter, Lobby Over Arrest Threats & Reps Anger In Sack Of 670 Without Due Process

Mrs Faith Tuedor Matthews, the Managing Director of financial Institution, Mainstreet and the bank’s management are in a state of ‘unrest’.

They are said to be currently making panicky and spirited efforts to contain the backlash of a recent mass sack carried out by the bank.

Sources alleged the keeper of people’s money dis-engaged all of 670 workers without recourse to due process.

The Managing Director was allegedly deeply involved in the exercise, championing the carrying out of the process.

The sack was reportedly across board- and tagged ‘arbitrarily done’.

The affected workers were reportedly done away with without fulfilment of laid done agreements, and inherent packages.

Insiders insist the ‘illegal mass sack’ was done to reduce the bank’s overhead.

The aggrieved workers had petitioned relevant authorities, including the Federal House of Representatives to enforce their right.

The House Committee on Banking and Currency with Mr Jones Chukwudi Onyereri as Chairman had waded into the matter.

But according to findings, the Bank’s Management and the Managing Director are alleged to be frustrating the fact finding process that would pave way for reconciliation and proper recommendation at every corner.

Insiders insist, inadequate information were made available and inappropriate substitutes sent in place of requested officers.

Angry at Mainstreet’s hanky panky- the Committee had threatened a bench warrant on the M.D, Mrs Faith Turduo Martins, if she does not appear at the next sitting, Wednesday October 2 2013 with needed information.

The widespread celebration of the arrest threat, the House of Representatives anger and inherent danger, made the bank concerned and immediately employ strategies to down play the situation.

Sources disclosed a panicky but spirited lobby of the stakeholders is on, to provide the M.D and the Bank ‘a soft landing’ when she appears- and in the overall outcome.

The effectiveness of this move remains to be seen.

Here is a recap of the demands of the arbitrarily sacked 670 as disclosed by spokesperson and former management staff of the bank, Mr. Eyo Usanga

‘ the intervention of the law makers to force Mainstreet management to pay

… terminal benefits (redundancy) according to collective agreements, that is 16 weeks of total emoluments on terminal grade per year multiplied by number of years spent by staff.

…. payment of 2012 annual leave and passage allowance

… payment of outstanding housing allowance up to December 2012, since personal monies were committed in paying landlords in anticipation of the payment and commutation of all outstanding annual leave days to cash.

…. payment of July 2012 salary in full, including allowances, as the salary for 2012 leave period, that is terminal leave,
And the conversion of the termination letter to retirement/resignation letters.