Tension grips workers as new generation bank reportedly begins mass sacking ~ Zeniths Blog

Tension grips workers as new generation bank reportedly begins mass sacking

– Heritage Bank has reportedly embarked on mass retrenchment of staff as a result of the economic recession, according to NAN.

– The mass sack has also been reportedly creating fears among the remaining staff

– The sack is also expected to affect more staff of former Enterprise Bank which was acquired by Heritage bank in 2014

Recession bites harder as another Nigerian bank sacks 400 workers

Emefiele

Heritage Bank, one of Nigeria’s new generation banks, has reportedly embarked on mass retrenchment with more workers penciled down for the sack following December 2016’s massive lay-offs that affected 400 staff, News Agency of Nigeria (NAN) reports.

Recall that the bank acquired Enterprise Bank with about N56 billion ($281 million) in October 2014.

READ ALSO: Naira stays low against dollar, pound in parallel market

The sack, according to a top management staff, cuts across the top, middle and low cadres.

According to him, the mass sack has been creating fears among the remaining staff.

Consequently, staff from the former Enterprise Bank fear they could be disengaged anytime as they are mostly affected in the ongoing restructuring exercise which has been designed to improve the bank’s

profitability.

However, the bank’s Head of Corporate Communications Fela Ibidapo told NAN that the figures were not correct.

According to Ibidapo, the development was not limited to the bank. He said it cut across the industry.

READ ALSO: How to complain against excess bank charges, fraud, unauthorised deductions

Meanwhile, a group called Nigerian Wailers has condemned what it termed, Nigerian Wailers has condemned what it termed, “conflicting and unclear monetary policies” by the Central Bank Of Nigeria, thereby unleashing severe hardship and misery on the people.

According to the group, the policy which involves sharp practices in Forex tradings sees the apex bank selling dollars at a cheaper rate to the federal government, some few politicians and some rich cabals who in turn sell at the black market at highly exorbitant rates of N500 to $1.

This development among others, the group said has led to inflation in the country.

360naze