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Heritage Bank, one of the new epileptic generation banks in the country, has been forced to shut down its operations as a result of the mass sacking of 1000 staffers by the management led by Mr. Akinola George-Taylor without following due process.
The
decision has stirred widespread concern among both customers and the financial
community as the National Union of Banks, Insurance and Financial Institutions
Employees (NUBIFIE), has shut down Heritage Bank’s head office in
Lagos.
The
union said it had resolved to continue with the picketing until the management
of the bank decides to do the needful by ensuring the sacked workers get their
legitimate severance package.
The
aggrieved ex-staff of the bank have locked the gate and prevented anyone from
going in or out of the bank’s head office located Victoria Island of Lagos.
As
the news broke, concerned citizens have expressed their worries about the
future of the bank and the impact of the mass layoff on the affected employees.
Financial
authorities have swiftly stepped in and taken decisive action by shutting down
the bank’s operations, pending further investigation into the circumstances
that led to the sudden termination of such a large number of employees.
Analysts
and experts in the financial sector have raised questions about the
sustainability of Heritage Bank in the face of these unprecedented events.
The
closure has also prompted heated discussions on social media platforms, with
many expressing their discontent and urging the bank’s management to provide a
clear explanation for their actions.
Amidst
the uncertainty, stakeholders and customers are anxiously waiting for updates
from the financial authorities, hoping for a swift resolution to the crisis.
Recall,
an online publication THE WITNESS had exclusively reported in October 2023
that in less than one year after assuming office as Heritage Bank’s chief
executive officer, Mr. Akinola George-Taylor forcefully booted out over 70
senior staff members of the bank, while a number of others were asked to resign
plunging the bank in further crisis. More worrisome was the fact that the
affected staff were disengaged without paying them their accrued entitlements
and allowances.
THE
WITNESS had also reported that the internal crisis allegedly instigated by the
bank chief was in an attempt to rid the bank of those suspected to be loyalists
of some board members, and employ his own people.
The
move, sources disclosed, were unconnected with the new bank chief’s plan to
oust some board members who are said to be at loggerheads with him, from the
bank. The bank’s chief was said to be enjoying the support of a top shareholder
of the bank whom sources say is allegedly determined to solely take over the
bank and get rid of the owners.
When
contacted by our reporter, Ozenna Utulu, the head of Corporate Communications
of Heritage Bank promised to get back to our reporter but never did as at the
time of filing this report.
As
the situation continues to develop, all eyes remain on Heritage Bank as the
affected staff and the broader public seek answers and clarity during this
tumultuous period.
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