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.