Over 200 staff of Enterprise Bank and Keystone Bank have lost their jobs due to the rationalization exercise that was recently carried out by both banks. On the 2nd of December Enterprise bank rolled out a list comprising of a 150 staff members that were affected by the rationalization excersie which according to the bank's management was done in order to achieve effective service. Worst hit by the retrenchment exercise are the Lagos Island branches of the bank. Spokesman for the bank, Olusola Longe-Okenimkpe says the rationalization exercise was carried out to identify resource optimization.

Keystone bank in November also carried out their own rationalization excercise which saw 52 Senior staff members losing their jobs.