According to Punch, several deposit banks in the country are set to shut down of
some of their branches across the country even as the federal government
tries to increase its workforce.

The banks say that they will shut down ‘unprofitable branches’ before
the end of the year.

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“We have laid off some
of our staff members but that it still not enough. Many branches are
just existing for the sake of being there. They are not generating
enough income. What they are bringing in is far less than what the bank
is incurring as costs on them.



“We may have to close
such branches before the year ends. I know a number of other banks that
are planning something similar,” Punch quoted an executive director in
one of the banks as saying.

It also reported that most of the banks would lay off hundreds of
workers between now and December.

This is coming barely a day after Unity Bank Plc laid off about 300
workers. Earlier in the year, other banks like Diamond Bank, Ecobank and
Skye Bank had sacked over 3,000 members of their workforce, prompting
minister of labour, Chris Ngige to threaten them with sanctions.


Source: Palmchat,Punch

lol i heard so too