Fresh crisis hits banking industry. as Access Bank sacks over 300 staff

Against the Central Bank of Nigeria (CBN) directive, Access Bank Plc, has sacked over 300 staff across its branches in Nigeria.

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Most of the affected workers were contract staff, who had put in a good number of years in the organisation.

A source, who craved anonymity, said the bank has been using electronic means of communication (e-mail) to notify the affected bankers.

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On the number of staff affected, the source said it was difficult to know, as the bank ensured the sack notices were not dispatched at the same time.

The moves by banks to disengage workers, experts say will further compound the nation’s unemployment woes.

A report published by the National Bureau of Statistics (NBS) in the first quarter of 2021, revealed that Nigeria’s unemployment rate has risen from 27.1 per cent in the second quarter of 2020, to 33 per cent.

Recall that the bank was recently enmeshed in financial fraud scandal involving Flutter wave.

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