Workers employed with 1st National Bank will receive a new regime of industrial benefits. That’s according to a release from the National Workers Union (NWU). Negotiated by the Management of the 1st National Bank and officials of the National Workers Union (NWU), this industrial accord is set to run for a three (3) year period and make provisions for a nine (9%) percent general wage increase. The negotiated increase will be distributed over the protracted period with an initial 2% followed by 3% and 4% respectively.
Workers employed throughout the company’s geographical operations will also receive improved adjustments in the following Allowances. Those allowances include Breakfast, Lunch and Dinner, On Call, and Relocation for Single and Married Officers. Travelling and Subsistence are among the negotiated allowances. The NWU says a new formula was devised for calculating the allowance for additional duties.
The NWU release highlighted that the NWU and the Bank will make every effort to ensure that Workers affected in this agreement will receive their entitlements and backpay in the shortest possible time.