A Leading Microfinance Bank in Lagos, Renmoney Microfinance Bank has sacked half of its staff.

The Bank made the announcement on Wednesday 25th March 2020 informing its customers that they will be going fully digital and will be disengaging the services of all their direct sales agents who make up half of the Bank's workforce.

Kindly see the mail from the CEO below.

It is sad that in these hard times with the current coronavirus the bank ch4ose now to lay off its staff said one of the affected staff. Renmoney is known to give loans of up to 6 million naira with an average monthly interest of 4% and an annual interest rate if over 45%

Hard times.

I just hope they saved some money

Really a sad news

When there loan repayment plan and interest rate is crazy. Where did they want there staffs to see people to collect loans.


You all should also run away from Citygate . They will lie to you about there loan interest rate. But alas ,by the time they start the deduction ,You go wish say coronavirus catch those agents wey come lie to you. They are heartless.

Expect more job cuts as most companies re going digital

Show me one good news under APC governance..

Lol, the bank has gotten the customers needed in that area, no need to have huge number of DSAs on their pay roll anymore...

The bank will still employ new DSAs for new branch in another area, then the bank will sack them after some times, and the cycle continues.

Use, Rinse, and Repeat...

Criminals, collected 60k paid 89k for 5 months

Speechless

Lakeshizu:
Criminals, collected 60k paid 89k for 5 months

U mean.your pay off.is 89k

Generaloluseye:


U mean.your pay off.is 89k

I supposed he collected 60k as loan from the bank and paid a whooping 89k as loan collected + interest in 5 months time!

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Lakeshizu:
Criminals, collected 60k paid 89k for 5 months

You paid back less than 10% interest per month.
That's quite fair man.

Please I am in a debt of about 300k which I have to pay by ending of april and have 100k with me . Feed up , still thinking of that they asked us to clear our school fee before mid April. don't know where to get it. Any business, advice , or help please nairalanders

Nickymezor:
Really a sad news

This doesn’t look like an Email.

This is a Marketing Gimmick.


The wordings doesn’t appear to be addressed to Staff. It appears to be addressed to the general public.

Do you write an email to the general public? This is a Letter to the general public!

It’s either the OP got it wrong and made a honest mistake or the OP made a deliberate mistake to stylishly market their products to the public.

Modify:

Haven gone through a separate publication on their Twitter handle: I confirm some of their employees and sales agents were laid off. That’s too bad - especially in difficult times like this. I guess they discovered they cant keep up with salaries for the foreseeable couple of months.

It is well.

Venerable612:


This doesn’t look like an Email.

This doesn’t look like anyone was Sacked.

This is a Marketing Gimmick.


The wordings doesn’t appear to be addressed to Staff. It appears to be addressed to the general public.

Do you write an email to the general public? This is a Letter to the general public!

It’s either the OP got it wrong and made a honest mistake or the OP made a deliberate mistake to stylishly market their products to the public.

Yeah , ur right

Venerable612:


This doesn’t look like an Email.

This doesn’t look like anyone was Sacked.

This is a Marketing Gimmick.


The wordings doesn’t appear to be addressed to Staff. It appears to be addressed to the general public.

Do you write an email to the general public? This is a Letter to the general public!

It’s either the OP got it wrong and made a honest mistake or the OP made a deliberate mistake to stylishly market their products to the public.

It is very true. Over 300 lost their jobs yesterday. There Twitter handle speaks more

Masking:


You paid back less than 10% interest per month.
That's quite fair man.

10% interest per month is fair? He just paid 50% per annum interest for 5 months, average interest rate per annum in Nigeria is 21% and even repayment for that would be for an entire year.

All this money lenders with exorbitant interest rate are the most weaked set of people on earth... they will suffocate you with request to come and take a loan any mistake of taking the loan is like halve way to the grave