The banks are in trouble – and that is the gospel truth.
Yesterday, Diamond Bank sent over 200 members of staff packing. And today, Ecobank Nigeria has added over 1000 staffers to the number!
More banks will also do same in the next few months, one insider told us.
Diamond Bank tagged their action ‘rightsizing’. Ecobank, according to the MD, Mr. Charles Kie, said they took the decision in the bank’s ‘renewed drive for optimal performance’. Adding, however, that all those affected ‘were adequately compensated’.
Ecobank Nigeria is part of the Ecobank Group with presence in about 36 countries in Africa. Their 2015 profit declined by over N40 billion, and until recently the financial institution had been embroiled in different crisis.
YES INTERNATIONAL! Magazine investigations uncovered that most of the banks started having issues soon after the coming of President Muhammadu Buhari, especially with his introduction of the Treasury Single Account (TSA).
The intense searchlight now beamed on them, particularly by the EFCC and CBN, has equally made all of them to sit up. Already, some of the bank CEOs who soiled their hands with certain shady deals have started answering for them. And while one or two of them are still in detention awaiting arraignment, the others are on bail and only enjoying temporary freedom.
‘In fact, the case of one of them is so bad that the Board will fire him any moment from now,’ volunteered our reliable source.
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