Ecobank Nigeria Denies Retrenchment of Staff

Ecobank

Ecobank Nigeria has denied reports on social media that it recently retrenched over a thousand workers from its branches across the country.

In statement entitled: “Cessation of Contract Engagement of Vendor Managed Personnel,” made available to New Telegraph, the lender stated: “Ecobank Nigeria did not disengage its staff. The bank decided not to renew the contract of its third party recruitment agencies, which expired recently and as such returned this category of personnel back to these agencies who are their employers.”

Besides, it stated: “As a demonstration of the bank’s concern and compassion for the affected personnel of our contractors, palliative measures were put in place by the bank to cushion the effect on them. These include payment of contract cessation packages of over half a billion Naira already paid through their employers as well as opportunity given to those with requisite qualification to apply to the Bank for permanent employment.”

In addition, the bank said it has offered the affected personnel of its contractors the “opportunity to become Xpress point agents of Ecobank as a way of further providing them entrepreneurial and financial empowerment.”

It emphasised  that  it was not obligated to renew its contract with the service providers involved.

The lender noted that as part of its business strategy, it is: “ investing in the employment of full time graduates and as such over 300 graduates are currently undergoing training at the bank’s state of the art Academy, which was recently accredited by the Chartered Institute of Bankers of Nigeria. They are to be absorbed into the system at the end their training as permanent staff.”
Source: New Telegraph

LEAVE A REPLY

Please enter your comment!
Please enter your name here