Heritage Bank is on a mass retrenchment of its workers, 400 of whom lost their jobs in December.
NAN said it conducted an investigation that indicated that more workers were penciled for sack.
A top management source in the bank, who pleaded anonymity, said the sack cut across the top, middle and low cadres.
He said the mass sack was creating apprehension and fear among the remaining workers
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The source said workers from the former Enterprise Bank were afraid of being disengaged anytime.
The bank acquired Enterprise Bank with about N56 billion in October 2014.
It embarked on the massive sack in spite of the directive of Chris Ngige, minister of labour, to financial institutions to desist from the sacking spree.
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However, Fela Ibidapo, the bank’s head of corporate communications, said the figures were incorrect.
Ibidapo said the mass sack was not limited to the bank but it cut across all operators in the industry.
There have been reports of the bank’s financial instability, but the financial institution dismissed them.
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2 comments
The former CBN governor should be held responsible for the trouble in banking sector. Since the time he introduced his bad policies in 2009, the banking sector has never remained the same again. This man is either be called to apologise for the whole Nigerians or accept the responsibility for destroying the banking sector. I am expecting policies to fix problems but not to compound problems. Someone should tell him to apologise to Mr Akingbola, Cecelia Ibru and others for his harsh policies on them and which has never yielded any result. Rather what we hear or see is sacking! sacking!! sacking!!! or banks in liquidity problem.
Somebody may say TSA compounds it, prior to TSA introduction, banking sector has been in serous mess since the introduction of his policies in 2009. He destroyed banking sector and he should come and carry his corpse.
I totally agree with you, he claimed that the banking industry was ailing under Soludo and funny enough Nigerians agreed with him that the directors/chairmen were just enriching themselves with public money, public you say? He started by bringing unwholesome policies that led and are leading to the sack of bank workers and thus making bank work unpalatable and unattractive. He is the cause of bad banking and this Emefiele in an attempt to keep his job is gone tone deaf to realities. He is the true cause of neo unemployment in Nigeria.