Prime News Ghana

Workers of Apex Bank goes red in protest of MD’s retainment

By Michael Abayateye
Apex Bank
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The workers’ union (Apex Union) at ARB Apex Bank Limited has declared “two days of red,” in protest of among other things, the renewal of the tenure of office of the Managing Director(MD), Mr. Kwadwo Aye Kusi which will end in December.

The protest began today with embittered workers wearing red bands around their necks and wrists, demanding that stakeholders address their issues.

This according to the leaders of the union, follows a petition, sent to stakeholders in that regard and are yet to receive the appropriate response.

The petition signed by the Certificate Fraud Examiner(CFE) of the bank, George Essien addressed to the Board Chairman of the bank through the MD, which was copied to the Governor of the Bank of Ghana, Minister of Finance, President of ARB Apex Bank and the Chairman, PMSU/Union ARB Apex Bank, spotted by Primenewsghana, raised several issues and called on stakeholders not to renew the tenure of office of the MD.

It stated that, “under the current MD, the Bank appears to have been plague by corruption, Iowering image; frivolous expenditure, fallen standards, nepotism, cronyism, fraud, vilification of staff and total disregard for Bank's policies. It is the concern of most staff that the bank might crumple under the second term of the MD”.

Some other concerns include, the dwindling fortunes of the bank, disrespect for the bank’s L.I in the extension of the Managing Director's term of office, disrespect for the Union and labour relationships and biased and unprofessional approach in the handling of the Union's petition.

Other issues raised are autocratic nature of the board chairman and his personal relationship with the Managing Director which is affecting the governance of the bank adding that a split board that appointed the MD will affect the progress of the bank.

“The Union is therefore through our red is sending a note of caution to all stakeholders that we will not to sit down for the worse thing to happen to our bank and the rural banks,” he stated.

According to him, the union is demanding a speedy process that would see to it that the board corrects the constitutional flaw accompanying the second term appointment and also demanding a fair and an independent investigation into the allegations made against the MD.

Therefore, he added “members of the Union across the country are therefore directed to have a red piece of material hanged around their necks or wrist.”

Attempts however to reach the MD on the issue was however unsuccessful.