Court orders Radix Pension to pay ex-MD N57m, $21m

The National Industrial Court has ordered the Radix Pension Managers Limited to pay Kunle Adeboye, a former Managing Director of the PFA, the sum of N57.12m and $21m as a backlog of owed salaries, allowances and other several packages.

In the Certified True Copy of the judgement seen by The PUNCH, the verdict was given by Justice R. Gwandu at the National Industrial Court sitting in Ikoyi, Lagos.

The suit was filed on October 18, 2021 by the claimant who prayed the court to declare that he was entitled to N86.26m as a backlog of salaries, allowances and other severance entitlements.

The court papers revealed that Adeboye was appointed the Managing Director/Chief Executive Officer of Radix PFA on December 29, 2017 and assumed duty on January 3, 2018. He resigned voluntarily on March 12, 2021 after serving for three years.

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).