The Industrial Training Fund (ITF) governing council and its Director General have dragged Commerzbank Representative Office Nigeria before a Federal High Court in Lagos over alleged failure to pay statutory contribution.
In a statement of claim filed before the court on behalf of the plaintiffs by a Lagos lawyer, Dr Clifford Okoye it was alleged that Commerzbank Representative office Nigeria Limited is an employer of labour, service provider carrying on business in Nigeria, with its head office situate at 5th Floor Wing A Banana Island, Ikoyi Lagos.
The company has an annual turnover of over 50 million naira and so is liable to contribute to the Industrial Training Fund for the year 2011 to 2016.
However, despite repeated demands made on the bank by the ITF and the fund’s external solicitors Dr Clifford Okoye to pay the outstanding balance of the ITF statutory contributions for the year 2011 to 2016 amounting to a total sum of N15, 074, 048, 36 due and owed by the bank to ITF, the defendant has neglected and has refused to do so, without any justification whatsoever.
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Wherefore, the plaintiffs claim against Commerzbank representative is as follows, a liquidated debt of N15,074,048.36.being the total outstanding balance of statutory contribution due and owed by the bank to the plaintiffs for year 2011 to 2016.
Interest at the rate of 5% per month on the outstanding debt, commencing from 7th of August, 2017 until judgement is delivered in the suit and thereafter at the same rate of interest until the entire sum is liquidated.
As well as cost of instituting this legal action.
The presiding judge, Saliu Saidu adjourned the matter till 21 May 2019.
