National Bank of Kenya to pay former MD Munir Sheikh Ahmed Sh26 mln for unlawful sackingDevdiscourse News Desk | Nairobi | Updated: 12-10-2020 10:26 IST | Created: 12-10-2020 10:26 IST
National Bank of Kenya has been ordered to pay the former managing director, Munir Sheikh Ahmed Sh26,520,000 as compensation for unlawful dismissing, according to a news report by The Star.
Munir was dismissed in 2016 over alleged gross misconduct occasioned by an alleged failure to take appropriate action to ensure that the bank's financial results reflected the correct position.
The bank said, "The bank's interim financial statements for June 2015 and September 2015 erroneously showed that the bank was making profits whereas the final reports indicated actual losses."
The judge of the Employment Court, Ongaya has said that it was unreasonable to dismiss Munir upon a general allegation that was never established at the time of his sacking.
According to him, the lack of establishment of the reason for termination amounted to unfair labor practice.
In court, Munir submitted that he was recruited to the position of MD at the bank in 2012 for a term of five years. He was fired 16 months to the end of his term.
In his view, his employer did not accord him a fair hearing before his dismissal.
He attributed the unfair hearing to the bank publishing a press statement in the print media about his compulsory leave on account of a pending internal audit process on the bank's financial performance before hearing him out.