Financial institution sacks over 900 workers

Financial institution sacks over 900 workers

In what many have described as fallout of the prevailing harsh operating environment in the country, a financial institution in Nigeria has over the last week sacked over 900 of its employees across the country, thereby adding to the nation’s already bloated unemployment market.


Some of the affected ex-employees told the reporters that the bank allegedly sacked 800 tellers last Friday while another 100 were thrown out of job. This was even as the bank argued that the sacked workers were not its direct employees.

But the National Union of Banks Insurance and Financial Institutions (NUBIFIE) accused the bank management of being economical with the truth. NUBIFIE President, Comrade Anthony Abakpa, in an interview said the workers were sacked without following due process.

According to him, some of the workers sacked had been in the system for over ten years and were paid parting peanuts of between N50, 000 to N100, 000. He listed among other breaches committed by the bank against its members to include, non payment of pension up to date, denial of such employees of health facilities, and payment of N5, 000.00 per diem for drivers on official assignment out of their station. The union also accused the bank of victimisation of outsourcing of staff by the core staff, poor salaries amongst others.

Related Articles


The following 6 pages may interest you as well: