Acquisition Mess Ecobank Sacks 4000 Oceanic Bank Staffers In A Day !!!

One of Nigeria’s financial institutions, Ecobank has bitten more than it can chew with the acquisition of Oceanic bank formerly owned by Mrs Cecilia Ibru.

 The bank is presently swimming in crisis with the sack of over 4000 staffers who are majorly that of Oceanic bank. Ecobank laid off the staffers on Friday, February 17, 2012..

Those who should know alleged that the management of Ecobank pays its original staffers handsomely and gives those it inherited from Oceanic bank less than half as salary. It was gathered that the sack of staffers on Friday, made staffers of Oceanic bank to protest both at its head office and that of Ecobank at Victoria Island.

Impeccable sources divulged that since the Human Resources Officer of Oceanic bank was sacked last year and Mrs. Ronke Wilson, Group Chief Human Resources Officer took charge, it's been another ball game as she is busy cleaning the bank of whoever is not in her good book, not minding the efficiency or years of service of the person. It was gathered that the elderly woman was mobbed by the irate staffs when protesting their sack on Friday.

An insider of the bank who preferred anonymity claimed that while the staffers of Oceanic bank are suffering, those of Ecobank are smiling. The source told First Weekly Magazine that while staffers of Oceanic bank were called in and handed their sack letters this morning, Ecobank staffers were being promoted to higher levels with more juicy offers in terms of salary and bonuses.

'I don't know why they acquired the bank, because the management has been punishing the staffs of Oceanic bank. First it was 1500 staffs, now it 4000 and they gave the remaining ones the options of resigning or settle for 50% cut in their salaries and allowances. While they are going through all these, we are being given salary increment with promotions,' our source who is one of the original staffers of Ecobank lamented.

February 20, 2012