How AKS Senator, Rep, Others Wrecked Akwa Savings and Loans Bank


- Workers storm the streets over non-payment of salaries
- Take case to Gov. Emmanuel

Posted by Admin

Workers at the State-owned primary mortgage institution; Akwa Savings and Loans Limited (ASLL) on Monday protested the non-payment of their salaries and arrears.

The angry workers, numbering at least 70, locked the main gate to the headquarters of the financial institution on Abak Road, chanting various solidarity songs.

Some of the inscriptions on their placards read: "Akwa Savings must not go down, Gov Udom act now",  "Gov. Udom, Please Come to our aid" among others.

The protesters called on the relevant government agencies to compel debtors of the bank to pay up and begged for government intervention in the payment of their salaries.

Earlier in 2016, the bank had published names of her major debtors including Hon. Michael Enyong - a two-time representative of Uyo Federal Constituency at the National Assembly, Emem and Sons Limited, Senator Emmanuel Ibokessien of Ritman University and several others.

It will be recalled that recently, the management of Akwa Savings and Loans Limited said it is on an intensive drive to recover over Eight Hundred Million Naira (N800m) from its debtor customers to enable the bank achieve profitability.

Her Managing Director; Mr Ebong Bassey, flanked by the Company Secretary, Abasiama Idiong Esq., and other management team members, disclosed during a parley with newsmen that the debt recovery constitutes a major challenge the bank was facing, adding that the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) has mandated ASLL to publish names of the debtors in the mass media, including radio and newspapers, so they can come and pay their debts.

According to him, 99 per cent of the debtor customers are Akwa Ibom indigenes, saying their names would be published soon.

"We are appealing to our sons and daughters; we have their names and we have been mandated by the CBN and NDIC to publish their names. At the appropriate time, we shall give the press these names to publish.

"We have written to them giving them final demand notices to ensure they pay back the loans. If they do not, we will publish their names," he stated.

The Managing Director intimated Akwa Ibom people that Akwa Savings belongs to them and that they should ensure the bank survives and not go under.

He particularly thanked the state governor, Mr Udom Emmanuel, for his timely intervention and full support which, he said, saved the bank from going under by reconstituting the Board of Directors and constituting a new management team in August 2016 to reposition the bank and provide affordable houses to Akwa Ibom people while also thanking the Board of Directors, headed by Mr Uduak Ewitat, for striving to ensure profitability of the bank.

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