About 2,000 textile workers of Nigerian Braiding Manufacturers (NBM) in Kano may soon lose their jobs as the Asset Management Corporation of Nigeria, AMCON, as begins sale of the Company over N1.5bn debt.
The Nations reports that the workers comprised 400 staff and over 1,500 casuals who were not paid December 2018 salaries and allowances. AMCON sealed off the company last November and appointed a Receiver, Dr Yakubu Fobur, following a federal Court order dated November 2018.
Since then the workers have been coming to office to no avail. Daily, they gather at the entrance gate till closing hour, praying for a quick resolution of the matter. One of the workers, who preferred anonymity, told the paper: “We came to work on that faithful day only for us to realise that the place had been sealed off. I am very sick, I have my drugs inside the company, no money to buy another one and they denied me access to pick the drugs,” she lamented.
“We were not paid ten kobo in December during Christmas, no bonus, no allowance, no overtime payment. Our accountant attempted to pick the list of those on the payroll to enable them pay us money, but to no avail. See me on slippers, we have been coming here daily and this will continue till the matter is resolved because we have no place to go,” she added.
Another worker, Mohammed Umar, said he can no longer perform his responsibility as a father, adding that his children were almost dying of starvation due to the impulsive closure. “As you can see, I’m frustrated, being starved, my children and I are hungry, we can only hope for something better,” Umar explained.
Although the National Union of Textile, Garment and Tailoring Workers of Nigeria through its Chairman, Comrade Ali Baba waded into the situation, he lamented that his efforts were frustrated by the receiver who had since gone into hiding. He threatened to mobilise workers to resist any move to value the company’s facilities as parts of the sale process being made by the Receiver.
Trouble reportedly started in 2000 when the company took a N100m overdraft from the defunct Oceanic Bank, but later acquired by Ecobank. The company claimed that the exorbitant interest charges contrary to the stipulated rate prompted the Company to seek legal redress at a Kano High Court.
While the case was still pending the Company was assigned to AMCON to take over its physical possession; hence the appointment of a receiver to enforce its statutory tasks as a body saddled with the responsibility of recovering non performing loan.
Dr Fobur claimed that AMCON was not a party to the pending case in the State High Court and he was only enforcing AMCON’s statutory responsibilities as a receiver. “I have the right to guide the AMCON’s appointed firm to value the Company’s worth and to sell it off if the parties fail to reach a compromise,” he said.
Fobur, however, urged aggrieved persons to channel their communication through AMCON in Abuja. He insisted the Company remains sealed till the parties either resolve the issue amicably or wait for the final Court verdict.