Jaiz Bank PLC has been slammed with a N500 Million law suit over, the Bank’s perceived unfair labour practices by the new management of the Bank. The suit No. NICN/ABJ/356/2016 is before the National Industrial Court and has been assigned to Court 2 of the Industrial Court, Abuja Division for speedy adjudication. The matter is coming up for mention on the 18th January 2017.

Relatively, there are already series of petitions forwarded to various regulatory agencies against the Bank, over corporate governance and credit in fracture issues involving the Bank’s management(which authorities are investigating vigorously). Two other similar suits for claims of damages running into millions have also been instituted at the Jos and Bauchi Divisions of the Industrial Court by aggrieved former staff, who strongly contend that they were unjustly victimized by the new management of the Bank.

More details will be made available shortly.