Stella Dimoko UnityBank Allegedly Sacks 215 Staff, Hires 200 in Fresh Restructuring


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Thursday, September 15, 2016

UnityBank Allegedly Sacks 215 Staff, Hires 200 in Fresh Restructuring

The management of Unity Bank Plc has allegedly sacked 215 staff, just as they also engaged additional 200 fresh staff in a fresh restructuring, sources said.
Most of those sacked were branch managers and senior staff....

The human capital department of the bank communicated the retrenchment of the affected ex-staff to the individuals, yesterday, advising the sacked workers to hand the bank’s belongings in their possession.

The source, who preferred anonymity, said: “There were no signs that such action was contemplated before we proceeded on the Salah break. But we came in this morning (yesterday) strategising on how to go about the remaining days of the working week, when the letters dropped on the email box of the affected persons.”

The source said the categories of workers affected comprised branch managers, staff in the debt recovery department, senior banking officers (SBOs) and Zonal legal officers.
Meanwhile a management source said the lender hires 200 new staff to drive the transformation initiative began by the Management in the last one year while about 100 other staff were said to have been promoted recently.

The management said some members of staff numbering about 215 have been allowed to go in an exercise that will enable the Bank realign its operation to pursue its long term growth strategy.

However the affected staff were said to have exercised the option to resign while Management has approved severance package in line with the Bank’s policy.
A source close to the Bank said the new focus of the Business has led to significant enhancement of human capital in its various business units.

This is with a view to injecting fresh ideas, initiatives and energies to strengthen the various departments of the bank with capabilities to pursue the attainment of strategic business focus in the Agricultural financing, retail/SMEs and development of rural economy.
The Unity Bank’s share price closed at N0.70 on the floor of the exchange, gaining 2.4 percent while recording about 14 trading transaction valued at N1.5m.

Culled: DailyTrust


  1. I'm sowi guys... Congrats guys

    The quickest way to double your money is to fold it over and put it back into your pocket ( control your desire and the money you'll save from that will be your prize which you can use to invest anywhere or get to make it double)

  2. In this hard times!!!
    I guess salary for d top officials ll be able to pay salaries for at least 5 of d new recruits.
    Na wayo sense they use here.

  3. Hmmmmmm Buhari na your brother bank be this. So you cannot help them. Afterall you have said that you will sack civil servants that Jona regime employed. Maybe this is one of them.

    What a pity. After salah break, and they must have spent money for this sallah oo.

    The 200 they employed their salaries might just be N150,000 per month.

    It is well

  4. They employed those they can pay stipends

  5. Too bad.. Not in this kind of economy one will lose his/her's so unfair.. 😕

  6. And, those that were laid off, how will dey cater for their household? Mehn, dis is serious

  7. That is how it should be, sack the old ones and recruit fresh young graduate. The civil servant should try dis method too

  8. So they can pay the new recruits peanuts.

  9. They should close the bank already. Ulo aku ndi aboki.

    1. Madam even u dat is a brand name???? U r passin dis tribalistic comment. Chai m so disappointed.

    2. Anonymous whoever so tell me what's wrong with my comment.. the bank is for the northerners. You can go hang on your disappointment. Because I am a brand name I shouldn't say the truth? Come out of your anon mode already. Keep monitoring my comments on the blog. You will get tired one of this days.

  10. To bad for one to be layoff job in this time of recession

  11. Time don reach to sack den na. Do you know how long many of them have been there sitting on young people's employment.

  12. They want to reduce salaries and hire desperate newbies who they can pay a paltry allowance.

  13. Bizzmane Interiors - 3D Panels for walls & ceiling, Wall Paper & 3D Floors - 08062642259 , 0708410882616 September 2016 at 01:57

    Even if its the only job on earth, I still won't indulge. I'd rather be a keke driver than a banker. 90% of them work like elephant and still eat like ant.

  14. PD Young Billionaire16 September 2016 at 02:30

    Perhaps the top was heavy.

  15. In this hard regime.

  16. Just spoke to a branch manager and he said there was no recruitment, they o my sacked


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