Activities at the Akwa Savings and Loans Limited, a State-owned mortgage bank on Monday came to a standstill as the aggrieved staff under the aegis of National Union of Banks, Insurance and Other Financial

Institution Employees (NUBIFIE) protested nonpayment of over twenty-four months salaries owed them.

They also alleged mismanagement of three billion naira loans repayment fund by the management of the bank.

Addressing journalists at the premises of the bank along Olusegun Obasenjo Way by Esuene Street in Uyo, the Chairperson of Union, Comrade Bassey Mbede explained that the rationale behind said protest was as the result non-payment of staff salaries for over two years, noting that the staff of the bank are redundant as there is no activities and business

transaction at the bank for two years now.

She said they decided to embark on the protest to drive home their point to call on the State government to intervene on their behalf by paying them

the arrears of two years salaries and as well as redeploy them to other State ministries and departments as they were underemployed.

Comrade Mbede lamented that there is no business transaction in the bank and as such they can’t pay their customers who deposited money in the bank, while calling on the State Governor, Mr. Udom Emmanuel whom she described as financial expert to look into the situation.

”The staff here are protesting that they have not been paid for two years and no business transaction at the bank for two years now. We are here to let the whole world know what we are passing through”, she said.

She also complained the alleged mismanagement of three billion naira injected into bank the by the State Governor under loans repayment fund, emphasizing that the State Governor should intervene and assist them.

Also speaking on behalf of the staff the Secretary of the Union, Comrade Akwere Essien opined that after the State Governor, Mr. Udom Emmanuel has invested the sum of 1.5 billion naira, adding that the said money was mismanaged by the current management of the bank, while staff have been owed over twenty-four months salaries.

When contacted a top management of the bank who spoke to The NewVision under the condition of anonymity did not refute the company indebtedness to the staff.