The ex-workers of defund Fund Management Companies who were retrenched in 2019 are demanding for their salary arrears, severance packages, Social Security and National Insurance Trust and Tier 2 contributions and other entitlements from the government.

They have therefore expressed shock at the government for not communicating any development in line with their Memorandum of Understanding signed six month ago.

In a press release dated Tuesday, December 14, 2021, the Coalition of Ex-Staff of collapsed FMCs demanded from the government when their entitlements will be settled.

“When would they pay us our salary arrears, severance packages, the SSNIT and Tier 2 contributions and other entitlements?”

They bemoaned why some of their colleagues from Black Shield Fund Management Company have not been invited for the negotiation and signing of the MoU.

“Why have they not invited our colleagues from Black Shield Fund Management Company into the negotiations and signing of the MoU?”

The ex-workers of FMCs also asked whether the government and the Securities and Exchange Commission (SEC) have plans to employ them into the newly established GCB Capital Limited formed out of the activities of the revocation and liquidation of their former employer’s businesses

“Do they have any plan to recruit some or all of us into the GCB Capital Limited or the new National Development Bank or other financial institutions?”

They claim they’ve endured lot of hardships since the revocation and liquidation processes and must have a clearer stance from the regulator and the government.