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Former National Bank managing director Munir Sheikh Ahmed is seeking a Ksh453 million compensation for what he calls unlawful termination and malicious prosecution.

The amount entails  the salary for remainder of the contract for the period of 76 months, pension, utilities, domestic servant allowance, entertainment allowance and medical allowance among other allowances.

The former executive says that the Bank decided to terminate his contract, even without allowing him to defend self on allegations of gross misconduct.

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“The letter notified me that the bank was considering to terminate my contract of employment on grounds of gross misconduct for failure to take appropriate action to ensure that the bank’s financial results reflected the correct position,” says Ahmed in court documents.

A part from the compensation, Ahmed is seeking to be reinstated as the managing director of the bank, and a public apology issued, which he will approve prior to publication.

“I am seeking an order for reinstatement to the position of managing director and payment of the accrued salary and benefits since April 2016 until the date of reinstatement,” says Munir in his application.

Ahmed was fired from the bank in April 2016, and his place taken by Wilfred Musau who had joined the bank seven months earlier.

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