The National Industrial Court has ruled that Radix Pension Managers Limited must pay Kunle Adeboye, the former Managing Director, a total of N57.12 million and $21 million.
This payment is for unpaid salaries, allowances, and other packages owed to Adeboye.
In the Certified True Copy of the judgement, the judgment was given by Justice R. Gwandu at the National Industrial Court sitting in Ikoyi, Lagos, according to The PUNCH.
Adeboye filed the suit on October 18, 2021, seeking N86.26 million for unpaid salaries, allowances, and severance entitlements.
The court documents show that Adeboye was appointed the Managing Director/CEO of Radix Pension Managers Limited on December 29, 2017, and began his role on January 3, 2018. After serving for three years, he voluntarily resigned on March 12, 2021.
In delivering the verdict, the judge said, “The claimant relief for an Order of this Honourable Court awarding interest 10 per cent per month on the total judgment sum from the day judgment is delivered in this case until the judgment debt is finally liquidated by the defendant, I grant relief to the extent that where the defendant fails to pay the Judgment sum one month after this Judgment is delivered, the Judgment sum shall attract an interest of 10 per cent per annum until fully liquidated.
“I make decline to grant any monies as cost of filing this suit. For clarity, the defendant will pay the claimant the following- Status Car prorated over three years-N15,000,000, Severance Pay-N25,811,330.00, two economy class tickets to the UK for three years -N3,000,000, vacation estacode- $21,000, club membership-N813,543.00, 2017 Medical-N200,599.89, 2020 Leave- 412,166.60, 2020 Medical-618,249, 2020 passage, 618,249.”
Other prayers that the court acceded to were a quarterly allowance Q1 2021 (N1m), three months base salary in lieu of given notice, (N1,030,416.51), deducted salary for five months (April-August 2020), N2,734,392.80, unused annual vacation, (N5,462,784.63) and three months prorated allowance in 2021 (N417,812.72).
