Business
Intercontinental Bank Sacks 1,500 Staff
The atmosphere within the premises of Intercontinental Bank Plc was charged last Friday following the handing of disengagement letters to 1,500 members of its staff nationwide The Tide learnt that the shock and disbelief pervaded the atmosphere of the bank’s branches in Port Harcourt as affected workers received the letters terminating their appointments with just three months basis terminal benefit salary. Reports said most of the affected staff were mangers, executive bankers and senior managers. The bank with about 5,000 work forces has over 300 branches nationwide. Intercontinental Bank has two weeks ago sacked some senior officers from the rank of General Manager, Assistant General Manager, and Deputy General Manager, three months after salaries of workers were slashed down by 30 per cent. An affected staff of the bank who spoke to The Tide in Port Harcourt said he received his letter of disengagement at 4 p.m. Friday, no explanation was given in the letter as to the reason for the sack”, he said. Last Wednesday, the United Bank for Africa (UBA) also sacked 2,000 of its staff. It has been speculated that the Central Bank of Nigeria (CBN) had directed banks in the country to downsize and slash down the salaries of workers, a claim the apex bank governor, Malam Sanusi Lamido had denied in several interviews with newsmen.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
