Apex Bank Workers Angry

Irate workers of ARB Apex Bank Ghana Limited have indicated that the bank might collapse if care is not taken.

“Under the current MD, the bank appears to have been plagued by corruption, frivolous expenditure, fallen standards, nepotism, cronyism, fraud, vilification of staff and total disregard for bank's policies,” the workers said in a petition to the Board Chairman of the bank.

In the petition dated July 25^th 2016, which was sighted by BUSINESS GUIDE, the workers explained that “it's the concern of most staff that the bank might crumple under the second term of the MD.”

According to the petition, a number of issues have affected the bank within the last four years.

“There is lack of transparency in procurement procedures leading to high prices of goods and services to Apex and the RCBs; there is lack of transparency in human resource management practice, particularly in recruitment and internal filling of vacancies.”

“In acquiring ATM switch procurement procedures were not followed. Purchase of the switch did not pass through the Procurement Committee. The MD single-handedly transacted the business,” according to the petition.

 Protest
Workers wore red arm bands at the headquarters of ARB Apex Bank located at Ridge in Accra yesterday to express their anger.

Other workers of the bank across the country have reportedly been directed to wear red arm bands.

Some of the workers, who spoke to BUSINESS GUIDE under condition of anonymity, explained that “the red arm bands have become necessary to let stakeholders understand that the union workers of the bank are not happy about the events at the bank.”

They added that “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.”

In a statement issued to BUSINESS GUIDE, the ARB Apex Bank Workers Union, indicated that the fortunes of the bank have dwindled significantly due to what they termed disregard for the bank's L.I. in the extension of its Managing Director's tenure, as well as disrespect for the union and labour relationships.

In addition, the union accused the board of bias and unprofessional handling issues highlighted in the union's petition.

The first term of the MD, BUSINESS GUIDE gathered, is expected to come to an end in December 2016.

The statement noted that “the autocratic nature of the board chairman and his personal relationship with the MD which is affecting the governance of the bank and a split board that appointed the MD will affect the progress of the bank.”

“We therefore demand a speedy process that will see to it that the board corrects the constitutional flaw in the second term appointment,” the workers said in the statement.

The union also demanded fair and independent investigation into the allegations leveled against the MD.

By Melvin Tarlue