Access Bank clarifies statement on sacking of staff

Access Bank Plc has denied plans to sack 75% of its workforce and close over 300 branches.

In a statement filed by the bank to the Nigerian Stock Exchange, the bank said those speculations and rumours were unfounded, baseless and fake.

It also added that it was a desire to distract its staff from discharging their functions.

Explaining how closing a bank branch works, the lender said it is an action that would require the approval of the Central Bank of Nigeria and the bank merely suspended operations as directed by the CBN.

“At the onset of the COVID-19 pandemic lockdown, we suspended in-branch operations at different locations as directed by the CBN and in line with business continuity plans at vulnerable spots; whilst we continued to provide services through our alternative digital platforms.

“In line with the phased re-opening of the economy effective May 4, following the Presidential directives, we will be resuming in-branch services in some of our affected branches in a programmed manner to ensure the health and safety of our employees and customers," the bank stated.

Meanwhile, the lender noted that due to the pandemic, not all of its branches would be open until later in the year, however, it was engaging with stakeholders to ensure that premium services were provided.

"We state that based on the impact of the COVID-19 pandemic, we do not expect that all our branches will be fully opened for in-branch services until later in the year. This has made it impossible for many of our outsourced workers to perform their duties as usual.

"Based on the above-mentioned circumstances, we have commenced engagement with various stakeholders with a view to ensuring that they provide the relevant services and optimum manpower as may be required by the Bank on an on-going basis," the bank added.

Just recently, a leaked video clearly showed CEO and Group Managing Director of Access Bank Plc, Herbert Wigwe issuing guidelines for laying off bulk of its staff and operating on a lean budget.

He even promised to take as low as a 40% pay cut in the video.

Access Bank recorded a profit of N40 billion for the first quarter of 2020, down from N41.1 billion recorded at the end of March 2019, representing a 0.5% reduction in profit after tax, as reported by MyNigeria.com earlier.