The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and its unit in Union Bank and UBA on Tuesday settled their 11-year-old intra-union crisis.

The President of ASSBIFI, Mr. Sunday Salako, made the announcement at a news conference in Lagos.

Salako said that all contending issues were finally resolved on Aug.1 and that all parties had decided to return to the national secretariat as one body.

The News Agency of Nigeria (NAN) reports that the dispute started in 2004 after ASSBIFI’s delegates’ conference in Benin.

The Union Bank and UBA units of the association felt aggrieved over some matters which could not be resolved over the years.

Salako said that the disposition of the current leadership of the two units made the reconciliation possible as they agreed that it was unwise to continue with litigation.

“The case has been in court and in 2007 both parties signed an agreement for out-of-court settlement. In spite of this move the dispute remains unresolved.

“But the current leaders in the two units discovered that the crisis is at the detriment of members who have been at the receiving end since 2004.”

The unionist said that as a united body, the workers would no longer allow the recklessness of the past in the financial system to continue to affect them.

“In the past, loans were given without collateral and later the workers will bear the burden.

“Corporate greed in the system has been the cause of problems in the sector and it has to stop.”

The president said that as a united body, the workers would no longer tolerate situations where they were given unrealistic targets by banks’ management.

Salako said that ASSBIFI had taken over the assets and liabilities of the units and that about 90 per cent of the banks were now unionised. (NAN)