Court Orders Odu’a Investment To Pay N83 Million To Sacked General Manager Yinka Tunji-Ojo In 30 days

Eko Hot Blog reports that the National Industrial Court, NICN sitting in Ibadan, Oyo State today ordered Odu’a Investment Company to pay Mrs. Yinka Tunji-Ojo, her former General Manager Finance and Investment, a total sum of 83,032,827.16 being her remuneration for 40 months within 30 days.

The court, presided over by Justice J.D. Peters ordered and directed the defendant to pay the entire Judgement sum with 15% interest per annum from today until the liquidation of the whole Judgement sum.

Justice J. D Peters gave his judgement in Suit No: NICN/IB/59/201 between Mrs. Yinka Tunji-Ojo, represented by Kelly Ogbe and Oyindamola Fabinu(Claimant) and Odu’a Investment Company Ltd, represented by J.M. Alade(Defendant).

The judge turned down request by Yinka Tunji-Ojo for reinstatement as General Manager Finance and Investment after her premature retirement without reaching the mandatory age of 60.

This news medium gathered that Yinka Tunji-Ojo was employed by Odu’a Investment Limited in March 15, 2001 as Manager Audit on the group salary scale of ML5 and rose through the ranks and file to the position of General Manager, Finance and Investment before she was forced out of the establishment.

The Judge held that having regards to the terms and conditions of the Claimant’s employment, the Claimant was not properly retired.

“I declare that the Claimant by the Odu’a Investment Company Limited Employee Handbook, 2012 has not attained the mandatory retirement age of sixty (60) years as at the time she was retired. I declare that Exh. C8 was written mala fide, unlawful and a contravention of the Exh. C6. I refuse an order for reinstatement”, Justice J.D Peter held.

While emphasizing that parties are to bear cost, he directed the claimant to pay to the Defendant/Counter claimant the sum of =N=3,165,576.00 being repayment of outstanding loan obtained from the Cooperative Society of the Defendant.

“The Claimant/Defendant to counter claim is ordered and directed to pay to the Defendant/Counter-claimant the sum of =N=649,218.75 being the 75% of carrying cost as per Company’s Policy on the status car assigned to her while in the employment of the Defendant.

“All the sums due under this counter claim shall be paid with interest at the rate of 10% per annum from today till the Judgment debt is fully liquidated”, the judge held.

His lordship also restrained the Claimant by an order of perpetual injunction from parading herself as an employee of the Defendant/Counter claimant.

“Each party shall bear the cost of this action. All the terms of this Judgement shall be complied with within 30 days from today”, he held.

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