Contrary to assurances given by the New MD/CEO of ailing Oceanic Bank, Mr JOhn Aboh at the press conference held some weeks ago that staff to be laid off have not been determined and number unknown, my source at the bank today can authoritatively confirm that over 1500 staff members were given their letters today both within lagos and upcountry without adequate compensation.

most of the victims included those not yet confirmed, which was actually a game plan to sack them because they have been overdue for confirmation but delayed by the new management. others are those who joined the bank in the last 2 years so they won't have to get any serious compensation and others with one issue or the other and those close to former management of Mrs Ibru.

the truth is that the CBN is yet to tell us what is exactly wrong with these banks as some of the happenings leading to lay offs, salary cuts and downsizing shows there are more to this than meets the eye. some of these banks are actually unhealthy and portends danger for likely investors.

these are clear signs of dangers for depositors of these ailing banks. the more they keep downsizing and cutting salaries the worst PR for them as people will definitely begin to know the truth.

on another vein, management of these banks in which CBN recently intervened has continued to spend millions of naira taking care of themselves instead of pursuing the loan recovery, establishment of good and sound risk management process and corporate governance. i hear the ones in oceanic bank are buying choice cars and giving waivers to friends and associate on loans. it is just a question of dog eat dog. whoever is there at any point in time will take of himself and his cronies until someone takes over from sanusi who can detect the rot in them too. na wao for this country.

oceanic is really loosing it so also other banks. i guess we just look elsewhere for depositors and our hard earned funds.

its so sad and unfortunate.we js got to the office n found out some of us couldnt login into our system,they waited for a very long time n still no word from any1 until those with similiar cases in lagos started gettin their letters,guess dey'l bring those 4 d staffs up north 2mrw, God save us o

O DI EGWU REALLY. ALU, ABOMINATION
FELLOW BANKERS, WE SHUD ALL LEARN A TRADE OR SOMEFING, where is d tym?

this is really scary but God dey