A chartered accountant Mr Jaiyeola Fatungase has dragged Staco Insurance Plc before the National Industrial Court in Lagos over the refusal of the company to pay him the terminal benefits of the sum of N33,200,000 after he resigned from the company.

Fatungase, in his statement of claim, said that he was employed by the defendant as a controller of accounts in 2005 and rose to the position of assistant director of finance until he voluntarily resigned in March 2020.

The claimant also asked the company to pay him the sum of N99,000, it deducted from his salary.

He stated that sometime in February 2015, the former managing director and the founder of the insurance firm, Dr Sakiru Oyefeso, summoned him to his office and handed him a cash sum of N11m, for safekeeping in his capacity as the assistant director of finance of the defendant’s company.

According to him, Oyefeso told him that the money was collected from the then defendant’s company chairman, Mr Dere Otubu, and that he would expend the said sum gradually to facilitate business for the defendant during the normal course of work.

When the matter in suit number NICN/LA/96/2022 came up before Justice M.N. Esowe of the NIC sitting in Ikoyi, Lagos for hearing, the case could not proceed as the defendant was not in court.

However, the claimant’s counsel Ayodele Osanyinibi announced her appearance and informed the court that the case was for further mention and that they had served the defendant and acknowledged service but had not replied.

She asked the court to set down for hearing the substantive suit.

Consequently, Justice Esowe adjourned the case until February 21, 2023, for a hearing and ordered that the defendants be issued a hearing date.

The claimant said the money was utilised over time by Oyefeso in the following manner, and then stepped aside abruptly as the managing director of the firm and he has not denied giving approvals for the funds utilised as stated above.

He said, “I accounted for the utilised funds in September 2019 vide a memo dated 30th September, wherein I stated how the sum was utilised.

“Since I resigned in March 2020, I have made several demands to the defendant demanding my outstanding salary of six months but the defendant refused to respond to my demands. When I could no longer stand the defendant’s deliberate refusal to respond to my letters, I briefed my lawyers, Abayomi Disu &Co.

“The defendant however accused me of being culpable for the entire sum and maliciously charged the sum of N11m against me without my consent.

“I resigned from the office of the defendant in March 2020 and the defendant has refused to pay me my salary from October 2019 to March 2020, the defendant has paid other employees for those months but refused to pay me.”

The defendant through its lawyer TOLG Advisors, in their response to the letter dated October 5, 2021 stated that the claimant’s outstanding salaries and benefits have been used in offsetting part of the loan he already accounted for.