More banks are sacking their workers as they struggle to adapt to the new corporate governance instituted by the Central Bank of Nigeria in its move to clean up the industry.
Yesterday, Wema Bank Plc sacked about 500 workers nationwide, including 25 top management staff, while First Bank of Nigeria Plc is also involved in a dispute with a labour union for allegedly forcing workers to resign.
Tunde Olofintila, a spokesperson for Wema Bank, who confirmed that the bank had sacked some workers, said the number was less than 500. He however refuse to disclose the number of workers affected. "Some people have been disengaged already, and as I speak, some are still receiving their letters," he said. "I cannot tell you how many people would be affected.
This is because letters are still being distributed to various people and I won't want to give you a figure that would later be incorrect. The whole process would have to be completed before an accurate number can be gotten, but I can assure you that it is not up to that number that you are talking about" he said.
New management
Mr. Olofintila also said that the development followed efforts by the new management that resumed in June 2009, to sanitise the bank.
"When the new management took over, all the staff members were called together and addressed at the management's inaugural gathering. There, we were told that processes would be streamlined, and roles will be matched to ensure effective production," he sai.
"Apparently, there are roles that overlap, but we were assured that the streamlining process would lead to a more effective operation and service delivery."
On June 10, a new management team led by Segun Oloketuyi, who is a former Executive Director, Skye Bank Plc, took over to be assisted by Ademola Adebise (formerly of Accenture) and Taiwo Adeniji (of Africa Finance Corporation) as executive directors.
While emphasising that the immediate challenge facing the new management is the institution of corporate governance in the bank, Mr. Oloketuyi also said that the new team intends to pursue a strategic and sustained transformation plan, which will reverse the fortunes of the bank.
He said these would be accomplished in three phases - stabilising the bank, preparing it for growth and finally growing the bank to take its rightful place at the fore of the financial services industry.
First Bank denies allegation
First Bank, however, denied forcing its workers to resign under the guise of voluntary resignation. A top official of the bank who spoke under anonymity said, "nothing strange has taken place, only the usual movement because, some people just came in and some people have left; there's nothing extraordinary in staff movement so far."
The Union comes calling
In reaction to the development,bank unions have indicated their readiness to challenge any bank that indulges in indiscriminate sacking of its workers.
Peter Esele , the president of the Trade Union Congress said that the union had already issued a statement on the layoff, after hearing that First Bank was planning a huge staff lay off.
"What we addressed in the statement was on the basis that they were planning to. The management of the bank has, however, replied that there is nothing like that in their agenda," he said.
"One of the things that give us the leverage to challenge bank actions pertaining to their staff is that the bank staff must have an extension of this union in their bank. Bank officials must be members of the union before we can talk on their behalf."
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