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.