Skye Bank Fires Another 50 Workers

Skye Bank Plc has retrenched about 50 members of staff, including those in outsourced and auxiliary functions. This comes about four months after it disengaged about 200 of its workers.

Reasons for their exit reportedly includes non-performance, disciplinary issues as well as rightsizing by the lender. However, the number of the affected non-core employees could not be ascertained since they were not direct workers of the bank.

Furthermore, most of the affected personnel are reportedly in outsourced functions like tellers, drivers and internal security guards.

Skye Bank Official Confirms Sack

Meanwhile, Head, Corporate and Brand Communication, Skye Bank, Mr. Nduneche Ezurike, confirmed the exit of the affected workers. He said the management of the bank approved the payment of generous entitlements and severance packages to them. This, as contained in their engagement letters and as agreed with the workers’ union.

The Central Bank of Nigeria had on July 4 sacked the board of the bank. It also announced a new board withAlhaji Muhammad Ahmad as the new chairman. This was in a bid to meet minimum thresholds in critical prudential and adequacy ratios.

The bank’s reconstituted Board was mandated to run a lean and efficient organisation; control costs. Also, aggressively recover debts owed it; grow deposits; and shore up its liquidity position.


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With over a decade experience in publishing (print and online), Lordson is the Editor of Concise News. His favourite pastimes are reading, writing, football and chess.


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