Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Psalmspsalms: 10:01pm On May 02, 2020 |
A time will come when a single individual will be richer than a whole nation. Its never too late to turn to God. All these strong head world leaders are doing will only make them go on their knees and accept defeat. 3 Likes |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by HDT13(m): 10:01pm On May 02, 2020 |
The epistle began with annunciated |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by chisani(m): 10:01pm On May 02, 2020 |
Kiyosaki saw it coming and Fred Riggs knew what the consequences would be like for prismatic societies. Las las na conspiracy of the elites 1 Like |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by iswallker(m): 10:01pm On May 02, 2020 |
GamalNasser: Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition Correct to some extent - branch listed as oke ilewo abeokuta is a diamond access branch - however there is a diamond access branch in car wash abeokuta not listed.. |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by sallysalsa09: 10:02pm On May 02, 2020 |
sarrki: Nigerian financial power house, Access Bank, annunciated the closure of more than 300 of its branches nationwide in a bid cut down running costs as a result of the outbreak of the deadly virus, COVID-19.
This move comes in the wake of a statement made by the group managing director/CEO of Access Bank, Herbert Wigwe who explained the reasons behind a planned mass retrenchment of its workforce, stating that some of its branches will be closed up until December of this year.
Herald NG earlier reported that Wigwe made this disclosure via video conferencing in a town hall meeting with the bank’s staff that later leaked on social media platforms.
Wigwe noted that those to be affected by the mass retrenchment are mostly outsourced staff and workers offering nonessential services. This group makes for about 75% of the Organisation’s staff strength in its branches nationwide.
“We probably don’t need as much security as required; even to the fact that we are not gonna have all our branches open between now and December. We don’t need all the tellers.” Wigwe said in the video.
“The second has to do with our professional cost. Now that is one that is very tricky and it is tricky because I do understand and appreciate that its gonna, you know, bring its own pain to staff.
“We basically have to make the adjustments the same way you sounded when we spoke 10 days ago with respect to basically cutting down cost.
“I will be the first to take the hit and I’m gonna take the largest pay cut, which would be as much as 40 percent. The rest we would have to cascade right through the institution. Everybody may have to make some adjustments of some sort.”
Industry observers have the notion that Wigwe’s retrenchment strategy and closure of its branches affects the most vulnerable of his employees. They also believe the move will be counter-productive for many families; especially the poor if the financial records of the bank truly show it has the capacity to cushion the effect of the pandemic.
LIST OF BRANCHES TO BE SHUT DOWN
ACCESS BANK RET SHOP – OSISIOMA (001)
UMUAHIA BRANCH 15 AZIKWE ROAD FAULKS ROAD BRANCH ABA UMUDIKE BRANCH ACCESS BANK, UMUAHIA, IKOT – EKPENE ROAD) ABA, ASA ROAD RET SHOP – UMUAHIA (039) GIBBS STREET BRANCH ACCESS BANK, IKOT EKPENE BRANCH ABAK, IKOT – EKPENE ROAD 32 AKA ROAD BRANCH UYO, BANK LAYOUT ONITSHA BRANCH NNEWI BRANCH UP IWEKA and OGIDI BRANCHES ONITSHA, SOKOTO ROAD. ONITSHA, OGBARU ENAMEL WARE MARKET NNEWI, OLD NKWO MARKET ROAD ACCESS BANK, OBOSI, CITY BISCUIT ROAD OKIJA, OLD OKIJA IHIALA OGUTA RD BRIDGE HEAD BRANCH AWKA, AZIKIWE STREET AND ACESS BANK, UNIZIK BRANCHES RET SHOP-NIGER DELTA UNI. MINI(082) GBOKO BRANCH ZAKI IBIAM BRANCH MAKURDI, NEW BRIDGE ROAD RET SHOP – N/BANK MAKURDI (034) GBOKO BRANCH MAIDUGURI, BURGA ROAD RET SHOP – UNIV. OF MAIDUGURI (020) RET SHOP – SHEHU LAMINU WAY (020) IKOM, OKIMI OSABOR STREET CALABAR, NDIDEM USANG ISO ROAD CALABAR, MAYNE AVENUE ASABA, 163 NNEBISI ROAD DECO ROAD BRANCH UGHELLI, MARKET ROAD RET SHOP – WARRI (005) AGBOR BRANCH ASABA, NNEBISI ROAD OKPANAM ROAD BRANCH WARRI OKUMAGBA AVENUE ABAKALIKI, OGOJA ROAD RET SHOP – EBONYI STATE UNIV (035) EKENWA-BENIN BRANCH USELU BRANCH 23 AIRPORT ROAD BRANCH BENIN, SAPELE ROAD BENIN, UGBOWO ROAD BENIN, 123 BENIN-AGBOR ROAD TEXTILE MILL ROAD BRANCH OKADA BRANCH IHAMA BRANCH BENIN, MISSION ROAD BENIN BRANCH UNIBEN BRANCH IJERO EKITI CASH CENTRE AJILOSUN, ADO EKITI BRANCH EKITI STATE UNIVERSITY BRANCH ENUGU STATE UNIVERSITY BRANCH AGBANI ROAD BRANCH ENUGU,GARDEN AVENUE ENUGU, OKPARA AVENUE ENUGU, 9TH MILE ENUGU, NIKE LAKE ROAD UNN NSUKKA BRANCH UNIVERSITY OF NIGERIA ENUGU BRANCH OKPARA AVENUE BRANCH WUSE 2 BRANCH FEDERAL SECRETARIAT ABUJA BRANCH UTAKO BRANCH ABUJA NNPC TOWERS BRANCH DURUMI BRANCH DEI DEI ABUJA, BUILDING MATERIALS MARKET NYANYA ABUJA, OPP. NYANYA SHOPPING COMPLEX GWAGWALADA ABUJA, PARK LANE WUSE 2 ABUJA, AMINU KANO CRESCENT GWARINPA ABUJA,LADOKE AKINTOLA BOLVD LIFE CAMP ABUJA, JABI-KARMO ROAD ADETOKUNBO ADEMOLA, ABUJA BRANCH NATIONAL ASSEMBLY BRANCH GARKI BRANCH BANK OF INDUSTRY (BOI),ABUJA GARKI AREA 11 BRANCH NASDA BRANCH DEI DEI BRANCH FED MIN OF JUSTICE BRANCH FEDERAL MORTGAGE BANK BRANCH GARKI ABUJA, CENTRAL BUSINESS AREA HERBERT MACAULAY, ABUJA BRANCH RET SHOP -FED. SECRETARIAT ABJ(061) ZONE 5 ABUJA, MICHAEL OKPARA STREET RET SHOP- SAVANNAH SUITES, ABJ(013) RET SHOP -AREA 1 COMPLEX ABUJA(077) GOMBE, BIU RD. BANK ROAD OWERRI BRANCH NEKEDE BRANCH OWERRI, ORLU ROAD MBAISE, AHIARA JUNCTION MBAISE RET SHOP – FUTO (017) OWERRI, DOUGLAS ROAD OKIGWE, WESLEY QUARTERS OKIGWE RD RET SHOP – NAZE MARKET (090) RET SHOP – IMO STATE SECTARIAT(090) HADEJIA BRANCH KADUNA BRANCH A2 AHMADU BELLO WAY BRANCH UNGWAN RIMI BRANCH NNPC REFINERY KADUNA BRANCH GUMI MAIN MARKET JAJI, COMMAND AND STAFF COLLEGE ALI AKILU ROAD BRANCH ZARIA BRANCH KACHIA ROAD KADUNA KADUNA, ISA KAITA ROAD RET SHOP – ZARIA (127) ANCHAU BRANCH KANO BRANCH BELLO ROAD BRANCH KANO KATIN KWARI BRANCH BAYERO UNIVERSITY BRANCH RET SHOP – DAWANUA, KANO (058) BICHI BRANCH AMINU KANO TEACHING HOSPITAL BRANCH KANO, FRANCE ROAD, SABON GARI RET SHOP – BAYERO UNI. KANO (007) KATSINA, NAGODO ROAD KATSINA BRANCH KAFUR BRANCH DANJA BRANCH BIRNIN KEBBI, SANI ABACHA ROAD OBAJANA CASH CENTRE LOKOJA, MURTALA MUHAMMED WAY FOLAWIYO STREET BRANCH ILORIN, IBRAHIM TAIWO ROAD KWARA STATE POLYTECHNIC IBEJU LEKKI VICTORIA ISLAND BRANCH IDEJO BRANCH IKOTA BRANCH LEKKI CHEVRON BRANCH AJOSE ADEOGUN BRANCH IKOYI, AWOLOWO ROAD AJAH, LEKKI – EPE EXPRESSWAY AJAH, ADDO ROAD LEKKI PHASE I, ADMIRALTY WAY RET SHOP – IKOTA, VGC LAGOS (095) LAGOS ISLAND, KING GEORGE V BRANCH BROAD STREET 2 BRANCH BBA LAGOS, ATIKU ABUBAKAR PLAZA TRADE FAIR COMPLEX, ASPAMDA, HALL 2 ALABA, DENSINE PLAZA OLOJO DRIVE ALABA INTERNATIONAL, DOBBILL PLAZA AVENUE MAZA MAZA BRANCH ALABA INTERNATIONAL, OLD GARAGE OLD OJO BRANCH LIGALI AYORINDE ADEYEMO ALAKIJA BRANCH ADEOLA ODEKU BRANCH ADEOLA HOPEWELL BRANCH AWOLOWO ROAD 2 BRANCH SAKA TINUBU BRANCH RET SHOP – PALMS MALL, LAGOS (026) BURMA ROAD APAPA BRANCH BROAD STREET BRANCH CREEK ROAD APAPA BRANCH TINCAN ISLAND BRANCH APONGBON BRANCH IBAFON BRANCH POINT ROAD BRANCH MARINA BOI BRANCH 48 MARINA BRANCH LAGOS ISLAND, MARINA LAGOS ISLAND, BALOGUN STREET APAPA, LIVERPOOL ROAD APAPA, BURMA ROAD TRADE FAIR BRANCH ASPAMDA BRANCH FESTAC 2 BRANCH AGUDOSI BRANCH MAZA MAZA, OLD OJO ROAD RET SHOP – SATELLITE TOWN (028) OLD ALABA MOTOR PARK OJUELEGBA BRANCH GBAGADA, GBAGADA EXPRESSWAY IDI-ARABA BRANCH LAWANSON/ITIRE RD BRANCH RET SHOP – ALUMINUM VILLAGE (011) RET SHOP – IYANA IPAJA (110) TOYIN STREET BRANCH IKEJA, 60 OPEBI ROAD MARYLAND,MOBOLAJI BANK ANTHONY WAY RET SHOP – ISHERI, BERGER) IDDO BRANCH KOSOKO STREET BRCH NNAMDI AZIKWE STREET IDUMOTA BRANCH OYINGBO BRANCH LAGOS ISLAND, OKE ARIN YABA, HERBERT MACAULAY ROAD BRANCH SURULERE, ENITAN STREET AGUDA RET SHOP – JANKARA , LAGOS ISD(002) RET SHOP – OGUNLANA DRIVE (051) RET SHOP – BARIGA AKOKA (087) LASU CAMPUS BRANCH AMUWO ODOFIN BRANCH SEME BORDER, BADAGRY EXPRESS WAY FESTAC TOWN, SECOND AVENUE COKER, LAGOS/BADAGRY EXPRESSWAY TRADE FAIR COMPLEX, ASPAMDA OFFICE BLOCK 2 BBA LAGOS, BANK PLAZA PALM AVENUE BRANCH ILUPEJU BRANCH MATORI BRANCH IKORODU 2 BRANCH TEJUOSHO BRANCH ILUPEJU 2 BRANCH GBAGADA BRANCH OJOTA BRANCH ODOGUNYAN BRANCH OSHODI BRANCH MATORI, LADIPO STREET OJUELEGBA, SHIFAWU STREET OSHODI, OSHODI-APAPA EXPRESSWAY RET SHOP – TEJUOSHO MKT, LAG (050) RET SHOP – KETU (088) RET SHOP – DALEKO (099) RET SHOP – OJUWOYE MARKET (099) OSOLO WAY BRANCH NAHCO BRANCH EGBEDA BRANCH EJIGBO BRANCH IJU BRANCH DOPEMU BRANCH IYANA IPAJA, LAGOS ABEOKUTA EXPRESS WAY ISOLO, MUSHIN ROAD IDIMU, IDIMU ROAD IKOTUN OKOTA, 56 AGO PALACE WAY AKOWONJO, SHASHA ROAD MAFOLUKU, INTL AIRPORT ROAD RET SHOP – OKOTA, ISOLO LAGOS (004) ADENIYI JONES IKEJA BRANCH OJODU BERGER BRANCH OPEBI BRANCH IKEJA, AWOLOWO WAY OREGUN BRANCH IKEJA, LADIPO OLUWOLE STREET OGBA, IJAIYE ROAD ALAUSA BRANCH OREGUN, ZIATECH ROAD OREGUN IKEJA GRA, JOEL OGUNNAIKE STREET MAGODO, CMD ROAD IKOSI RET SHOP – IFAKO AGEGE (080) RET SHOP – IFAKO GBAGADA (087) IDUMOTA BRANCH OGUNLANA DRIVE BRANCH 67 ST FINBARRS RD-BARIGA IJESHATEDO BRANCH UNIVERSITY OF LAGOS BRANCH SABO YABA BRANCH ADENIJI ADELE BRANCH EBUTE METTA BRANCH EBUTE METTA, MARKET STREET OYINGBO APONGBON, ISSA WILLIAMS/OFFIN RD RET SHOP – IDDO, EBUTE METTA) ARTICLE MARKET BRANCH RET SHOP-NASS. STATE UNI.KEFFI(073) LAFIA, DOMA ROAD KEFFI, ABUBAKAR BURGA STREET MINNA, PAIKO ROAD SULEJA DEPOT CASH CENTRE MINNA 2 BRANCH SULEJA, IBB MARKET OOU BRANCH ABEOKUTA, UACN COMPLEX IBARA SAGAMU, AKARIGBO STREET IJEBU ODE, 35 IBADAN ROAD COVENANT BRANCH RCCG CAMP BRANCH OKE ILEWO BRANCH ILARO BRANCH OTTA, OTTA INDUSTRIAL LAYOUT OWODE YEWA MARKET BRANCH IDI IROKO BORDER BRANCH OTTA, IDIROKO ROAD RET SHOP – BABCOCK UNIVERSITY (137) AKURE BRANCH ADEKUNLE AJASIN UNIVERSITY CAMPUS BRANCH AKURE, OYEMEKUN STREET ONDO, YABA ROAD ADEYEMI COLLEGE OF EDUCATION IREE BRANCH ILESHA, ITA BALOGUN STREET ILE IFE BRANCH IPETU IJESHA BRANCH OAU ILE IFE BRANCH REDEEMER UNIVERSITY EDE BRANCH SAKI BRANCH APOMU BRANCH LAUTECH BRANCH BODIJA BRANCH 2 IWO ROAD 2 BRANCH UCH IBADAN BRANCH IBADAN, OKE – ADO IBADAN, AGODI UCH SECOND GATE OYO BRANCH OJOO BRANCH OGBOMOSO BRANCH OGBOMOSHO, ILORIN ROAD BODIJA BRANCH 1 NEW COURT ROAD BRANCH EKOTEDO BRANCH IBADAN JOS BRANCH JOS, COMMERCIAL AREA JOS, CLUB ROAD RET SHOP – KATAKO (015) BUKURU BRANCH RET SHOP – UNIVERSITY OF JOS (055) IKOKWU BRANCH RET SHOP – OLD ABA ROAD, PH (086) BONNY CASH CENTRE ELEME BRANCH EASTERN BULKCEMENT BRANCH PH, TRANS AMADI PH, FOT ONNE OBIGBO PH, LOCATION ROAD RET SHOP – ODUA ROAD, PHC (003) BORI BRANCH UNIPORT BRANCH RSUST BRANCH PH, 50 IKWERRE ROAD PLOT105 OLU OBASANJO PH BRANCH GARRISON BRANCH GADA MARKET BRANCH USMAN DANFODIO UNIVERSITY BRANCH SOKOTO, MAIDUGURI ROAD GUSAU, CANTEEN ROAD
https://www.google.com/amp/s/www.herald.ng/access-bank-shuts-down-346-branches-nationwide-to-cut-down-cost-due-to-coronavirus/amp/
This is practically all their branches. We're is all the profit they said they made |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Sunisonflex39(m): 10:03pm On May 02, 2020 |
its like 70 percent of their branch has been closed in lagos...see as i just dey read lagos name dey go.. |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Yankee101: 10:03pm On May 02, 2020 |
More banks, industries and government to follow
Save, save, save!!!! |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by anslemarinze52(m): 10:04pm On May 02, 2020 |
Imagine!!!!!!! these a bad news for me that I was planning to come and complain about a failed airtime top up of 2k and I was debited without crediting my 9mobile account. I called the customer care she explained to me and said I'll get my money on Friday since on Wednesday oo |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Bbbwings: 10:04pm On May 02, 2020 |
GamalNasser: Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition Another angle. 1 Like |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by xreal: 10:04pm On May 02, 2020 |
They did not tell us how many branches remain.
These branches are just too many to be owned by one bank. Disadvantage on merging. They acquire branches unnecessarily. Difficult to maintain.
They should just sell those buildings.
Anyway, they have caused tension for themselves as customers will panic and close their account(s) with them. 7 Likes 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by boyjo: 10:04pm On May 02, 2020 |
seunmsg: Nigerian banks are too fragile. They can hardly survive any downturn in the economy without massively laying off staff.
Some of these banks also bite more than they can chew. What Access bank is going through now reminds me of my little stint with BankPHB.
BankPHB acquired spring bank late 2008 in a very hostile manner. Billions of depositors funds was committed into the acquition. By March 2009, the bank was already distressed and laying off staff. The hostile nature of the takeover also made it impossible for the quick integration of the operations of the banks. There was also the effect of the global meltdown and crash of the stock exchange market that year.
By the Sanusi came in as CBN Governor around June, the bank was already a mess. He did not bother to romance the problem, he simply killed the bank and other banks that were then struggling to survive the global meltdown and crash of the stock exchange market by late 2009.
Hopefully, Access bank won’t go the way of BankPHB. Sorry I meant, "Na Sanusi crash stock exchange that year??" Your syntax made it seem like you were saying he crashed the stock market. I be wan say make you enlighten me 1 Like 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Stevyne: 10:04pm On May 02, 2020 |
Sofistcatdmoron: Let me go qnd transfer all my money from access bank to GTB Boss drop a token for me too |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by StoneColdBiceps(m): 10:05pm On May 02, 2020 |
seunmsg: Nigerian banks are too fragile. They can hardly survive any downturn in the economy without massively laying off staff.
Some of these banks also bite more than they can chew. What Access bank is going through now reminds me of my little stint with BankPHB.
BankPHB acquired spring bank late 2008 in a very hostile manner. Billions of depositors funds was committed into the acquition. By March 2009, the bank was already distressed and laying off staff. The hostile nature of the takeover also made it impossible for the quick integration of the operations of the banks. There was also the effect of the global meltdown and crash of the stock exchange market that year.
By the Sanusi came in as CBN Governor around June, the bank was already a mess. He did not bother to romance the problem, he simply killed the bank and other banks that were then struggling to survive the global meltdown and crash of the stock exchange market by late 2009.
Hopefully, Access bank won’t go the way of BankPHB. Lie lie lie . My facts: I was with Bank PHB also, then. I was with it's subsidiary; platinum capital, the stock broking arm of BankPHB. It was at platinum capital spring bank transaction was done. We moved the shares after the big purchase at platinum capital. It was the old aggrieved share holders of spring bank that killed the transaction. Stubborn rich old men. They pressed big buttons to stop the sale. Sanusi championed the death of the transaction as a result of his beef with Atuche (MD/CEO BankPHB). Atuche, BankPHB was moving in a jet speed clearing things in it's way as a result of the bank's innovation. This sent a big surprise all over the banking industry and beef started - "who is this small boy?" the big dogs started asking. Let me stop here. Table Tennis becomes the most popular game played in Lagos amid covid-19 https://naijanofilter./2020/05/02/�table-tennis-becomes-the-most-popular-game-played-in-lagos-amid-covid-19-lockdown 1 Like 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by MrMcJay(m): 10:05pm On May 02, 2020 |
Topmaike007: me I don port already I have fcmb time to open firstbank or Uba with my Fcmb... Imagine I went to do business and I was unable to get alert meanwhile the person already transferred my money.. Na fight I come carry go because I think say him dupe me...
I just dislike that bank Mc Tagwaye the comedian who is Buhari's doppelganger had a running battle with Access bank on social media because of this nonsense. I would move my money to other banks. Let Access bank keep demarketing and destroying itself. 1 Like |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Nobody: 10:05pm On May 02, 2020 |
pathetic! yet, this useless bank donated a whooping 1 billion naira to an irresponsible govt instead of it's loyal customers . |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Topmaike007(m): 10:06pm On May 02, 2020 |
chukwuibuipob: it is FINISHED.....lobatan . I bin wan call sumbody a thief before cos I Nor see the money he claimed he transferred to my Ecobank since Tuesday.i don waka go check my balance here and there thinking nah my phone network not gree beep for alert that bank is getting more useless as day goes by... Same thing happened to me with my client to the point that I shekpe with there customer care on twitter 1 Like 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Nobody: 10:06pm On May 02, 2020 |
Yesterday someone in the other thread was charged 460/1$ on access bank card, while others like GTB and stanbic ibtc still charged 400/$1. So buying 10 dollar things, u would have paid extra 600 naira, while 100dollars, extra 6000 naira. Now if u love your self, this is not the best time to do any major transactions with them, you will regret. Something is not right with that bank, covid 19 is just an excuse. Am moving my cash gradually away from them. Only bank u will do online transaction and will charge u twice days apart on same transactions and still double charge you for different SMS. 7 Likes 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by PANDA2: 10:07pm On May 02, 2020 |
This is serious. |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Topmaike007(m): 10:07pm On May 02, 2020 |
Seenyo: pathetic! yet, this useless bank donated a whooping 1 billion naira to an irresponsible govt instead of it's loyal customers . that's the most painful thing self 2 Likes |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Nobody: 10:07pm On May 02, 2020 |
[quote author=Kayharry post=89118076]Banking system in Nigeria need to be change Too much branch that is not necessary There should be away to transact without going to bank .
Banking hall should always be empty Cashless policy will do the trick [/quote What will now happen to unemployed people |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by edoairways: 10:07pm On May 02, 2020 |
This will backfired later |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by wumi2017(f): 10:07pm On May 02, 2020 |
Helper please locate me with 2k� may you never go broke |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Topmaike007(m): 10:09pm On May 02, 2020 |
MrMcJay:
Mc Tagwaye the comedian who is Buhari's doppelganger had a running battle with Access bank on social media because of this nonsense.
I would move my money to other banks. Let Access bank keep demarketing and destroying itself. I can't cope with them again |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by blowjohn(m): 10:10pm On May 02, 2020 |
Bank executives are one of the most useless, ruthless and wicked set of beings. Go and check the earnings of the managers and executives. They earn millions every year but just to accommodate staff that earn less than 1 million a year they wont. U always hear about bank retrenchment every year. Nonsense job. 2 Likes |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by densiks: 10:10pm On May 02, 2020 |
They can sell off the assets vested in those branches and make some additional income to support existing ones and expand their operations with leanness and efficiency in mind.
The global economy has shrinked and Nigeria is already tinkering on the threshold of another recession.
It makes no sense for any bank to continue with a bogus payroll with too much overhead as a result of too many branches.
I wish them all the best. 4 Likes 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by smasher1(m): 10:10pm On May 02, 2020 |
new2012: This is fake news.. The branches were shutdown because of the lockdown.
Other branches were working.. You need CBN approval to shut down even 1 branch.
People just carry baseless rumours since their MD village meeting with his staff om reduction of staff expense leaked. These branches are shut down from now to December, can you interpret the action? I believe you watched the video? |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by otokx(m): 10:10pm On May 02, 2020 |
smells like false news. |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Ellie01: 10:11pm On May 02, 2020 |
sarrki: Nigerian financial power house, Access Bank, annunciated the closure of more than 300 of its branches nationwide in a bid cut down running costs as a result of the outbreak of the deadly virus, COVID-19.
This move comes in the wake of a statement made by the group managing director/CEO of Access Bank, Herbert Wigwe who explained the reasons behind a planned mass retrenchment of its workforce, stating that some of its branches will be closed up until December of this year.
Herald NG earlier reported that Wigwe made this disclosure via video conferencing in a town hall meeting with the bank’s staff that later leaked on social media platforms.
Wigwe noted that those to be affected by the mass retrenchment are mostly outsourced staff and workers offering nonessential services. This group makes for about 75% of the Organisation’s staff strength in its branches nationwide.
“We probably don’t need as much security as required; even to the fact that we are not gonna have all our branches open between now and December. We don’t need all the tellers.” Wigwe said in the video.
“The second has to do with our professional cost. Now that is one that is very tricky and it is tricky because I do understand and appreciate that its gonna, you know, bring its own pain to staff.
“We basically have to make the adjustments the same way you sounded when we spoke 10 days ago with respect to basically cutting down cost.
“I will be the first to take the hit and I’m gonna take the largest pay cut, which would be as much as 40 percent. The rest we would have to cascade right through the institution. Everybody may have to make some adjustments of some sort.”
Industry observers have the notion that Wigwe’s retrenchment strategy and closure of its branches affects the most vulnerable of his employees. They also believe the move will be counter-productive for many families; especially the poor if the financial records of the bank truly show it has the capacity to cushion the effect of the pandemic.
LIST OF BRANCHES TO BE SHUT DOWN
ACCESS BANK RET SHOP – OSISIOMA (001)
UMUAHIA BRANCH 15 AZIKWE ROAD FAULKS ROAD BRANCH ABA UMUDIKE BRANCH ACCESS BANK, UMUAHIA, IKOT – EKPENE ROAD) ABA, ASA ROAD RET SHOP – UMUAHIA (039) GIBBS STREET BRANCH ACCESS BANK, IKOT EKPENE BRANCH ABAK, IKOT – EKPENE ROAD 32 AKA ROAD BRANCH UYO, BANK LAYOUT ONITSHA BRANCH NNEWI BRANCH UP IWEKA and OGIDI BRANCHES ONITSHA, SOKOTO ROAD. ONITSHA, OGBARU ENAMEL WARE MARKET NNEWI, OLD NKWO MARKET ROAD ACCESS BANK, OBOSI, CITY BISCUIT ROAD OKIJA, OLD OKIJA IHIALA OGUTA RD BRIDGE HEAD BRANCH AWKA, AZIKIWE STREET AND ACESS BANK, UNIZIK BRANCHES RET SHOP-NIGER DELTA UNI. MINI(082) GBOKO BRANCH ZAKI IBIAM BRANCH MAKURDI, NEW BRIDGE ROAD RET SHOP – N/BANK MAKURDI (034) GBOKO BRANCH MAIDUGURI, BURGA ROAD RET SHOP – UNIV. OF MAIDUGURI (020) RET SHOP – SHEHU LAMINU WAY (020) IKOM, OKIMI OSABOR STREET CALABAR, NDIDEM USANG ISO ROAD CALABAR, MAYNE AVENUE ASABA, 163 NNEBISI ROAD DECO ROAD BRANCH UGHELLI, MARKET ROAD RET SHOP – WARRI (005) AGBOR BRANCH ASABA, NNEBISI ROAD OKPANAM ROAD BRANCH WARRI OKUMAGBA AVENUE ABAKALIKI, OGOJA ROAD RET SHOP – EBONYI STATE UNIV (035) EKENWA-BENIN BRANCH USELU BRANCH 23 AIRPORT ROAD BRANCH BENIN, SAPELE ROAD BENIN, UGBOWO ROAD BENIN, 123 BENIN-AGBOR ROAD TEXTILE MILL ROAD BRANCH OKADA BRANCH IHAMA BRANCH BENIN, MISSION ROAD BENIN BRANCH UNIBEN BRANCH IJERO EKITI CASH CENTRE AJILOSUN, ADO EKITI BRANCH EKITI STATE UNIVERSITY BRANCH ENUGU STATE UNIVERSITY BRANCH AGBANI ROAD BRANCH ENUGU,GARDEN AVENUE ENUGU, OKPARA AVENUE ENUGU, 9TH MILE ENUGU, NIKE LAKE ROAD UNN NSUKKA BRANCH UNIVERSITY OF NIGERIA ENUGU BRANCH OKPARA AVENUE BRANCH WUSE 2 BRANCH FEDERAL SECRETARIAT ABUJA BRANCH UTAKO BRANCH ABUJA NNPC TOWERS BRANCH DURUMI BRANCH DEI DEI ABUJA, BUILDING MATERIALS MARKET NYANYA ABUJA, OPP. NYANYA SHOPPING COMPLEX GWAGWALADA ABUJA, PARK LANE WUSE 2 ABUJA, AMINU KANO CRESCENT GWARINPA ABUJA,LADOKE AKINTOLA BOLVD LIFE CAMP ABUJA, JABI-KARMO ROAD ADETOKUNBO ADEMOLA, ABUJA BRANCH NATIONAL ASSEMBLY BRANCH GARKI BRANCH BANK OF INDUSTRY (BOI),ABUJA GARKI AREA 11 BRANCH NASDA BRANCH DEI DEI BRANCH FED MIN OF JUSTICE BRANCH FEDERAL MORTGAGE BANK BRANCH GARKI ABUJA, CENTRAL BUSINESS AREA HERBERT MACAULAY, ABUJA BRANCH RET SHOP -FED. SECRETARIAT ABJ(061) ZONE 5 ABUJA, MICHAEL OKPARA STREET RET SHOP- SAVANNAH SUITES, ABJ(013) RET SHOP -AREA 1 COMPLEX ABUJA(077) GOMBE, BIU RD. BANK ROAD OWERRI BRANCH NEKEDE BRANCH OWERRI, ORLU ROAD MBAISE, AHIARA JUNCTION MBAISE RET SHOP – FUTO (017) OWERRI, DOUGLAS ROAD OKIGWE, WESLEY QUARTERS OKIGWE RD RET SHOP – NAZE MARKET (090) RET SHOP – IMO STATE SECTARIAT(090) HADEJIA BRANCH KADUNA BRANCH A2 AHMADU BELLO WAY BRANCH UNGWAN RIMI BRANCH NNPC REFINERY KADUNA BRANCH GUMI MAIN MARKET JAJI, COMMAND AND STAFF COLLEGE ALI AKILU ROAD BRANCH ZARIA BRANCH KACHIA ROAD KADUNA KADUNA, ISA KAITA ROAD RET SHOP – ZARIA (127) ANCHAU BRANCH KANO BRANCH BELLO ROAD BRANCH KANO KATIN KWARI BRANCH BAYERO UNIVERSITY BRANCH RET SHOP – DAWANUA, KANO (058) BICHI BRANCH AMINU KANO TEACHING HOSPITAL BRANCH KANO, FRANCE ROAD, SABON GARI RET SHOP – BAYERO UNI. KANO (007) KATSINA, NAGODO ROAD KATSINA BRANCH KAFUR BRANCH DANJA BRANCH BIRNIN KEBBI, SANI ABACHA ROAD OBAJANA CASH CENTRE LOKOJA, MURTALA MUHAMMED WAY FOLAWIYO STREET BRANCH ILORIN, IBRAHIM TAIWO ROAD KWARA STATE POLYTECHNIC IBEJU LEKKI VICTORIA ISLAND BRANCH IDEJO BRANCH IKOTA BRANCH LEKKI CHEVRON BRANCH AJOSE ADEOGUN BRANCH IKOYI, AWOLOWO ROAD AJAH, LEKKI – EPE EXPRESSWAY AJAH, ADDO ROAD LEKKI PHASE I, ADMIRALTY WAY RET SHOP – IKOTA, VGC LAGOS (095) LAGOS ISLAND, KING GEORGE V BRANCH BROAD STREET 2 BRANCH BBA LAGOS, ATIKU ABUBAKAR PLAZA TRADE FAIR COMPLEX, ASPAMDA, HALL 2 ALABA, DENSINE PLAZA OLOJO DRIVE ALABA INTERNATIONAL, DOBBILL PLAZA AVENUE MAZA MAZA BRANCH ALABA INTERNATIONAL, OLD GARAGE OLD OJO BRANCH LIGALI AYORINDE ADEYEMO ALAKIJA BRANCH ADEOLA ODEKU BRANCH ADEOLA HOPEWELL BRANCH AWOLOWO ROAD 2 BRANCH SAKA TINUBU BRANCH RET SHOP – PALMS MALL, LAGOS (026) BURMA ROAD APAPA BRANCH BROAD STREET BRANCH CREEK ROAD APAPA BRANCH TINCAN ISLAND BRANCH APONGBON BRANCH IBAFON BRANCH POINT ROAD BRANCH MARINA BOI BRANCH 48 MARINA BRANCH LAGOS ISLAND, MARINA LAGOS ISLAND, BALOGUN STREET APAPA, LIVERPOOL ROAD APAPA, BURMA ROAD TRADE FAIR BRANCH ASPAMDA BRANCH FESTAC 2 BRANCH AGUDOSI BRANCH MAZA MAZA, OLD OJO ROAD RET SHOP – SATELLITE TOWN (028) OLD ALABA MOTOR PARK OJUELEGBA BRANCH GBAGADA, GBAGADA EXPRESSWAY IDI-ARABA BRANCH LAWANSON/ITIRE RD BRANCH RET SHOP – ALUMINUM VILLAGE (011) RET SHOP – IYANA IPAJA (110) TOYIN STREET BRANCH IKEJA, 60 OPEBI ROAD MARYLAND,MOBOLAJI BANK ANTHONY WAY RET SHOP – ISHERI, BERGER) IDDO BRANCH KOSOKO STREET BRCH NNAMDI AZIKWE STREET IDUMOTA BRANCH OYINGBO BRANCH LAGOS ISLAND, OKE ARIN YABA, HERBERT MACAULAY ROAD BRANCH SURULERE, ENITAN STREET AGUDA RET SHOP – JANKARA , LAGOS ISD(002) RET SHOP – OGUNLANA DRIVE (051) RET SHOP – BARIGA AKOKA (087) LASU CAMPUS BRANCH AMUWO ODOFIN BRANCH SEME BORDER, BADAGRY EXPRESS WAY FESTAC TOWN, SECOND AVENUE COKER, LAGOS/BADAGRY EXPRESSWAY TRADE FAIR COMPLEX, ASPAMDA OFFICE BLOCK 2 BBA LAGOS, BANK PLAZA PALM AVENUE BRANCH ILUPEJU BRANCH MATORI BRANCH IKORODU 2 BRANCH TEJUOSHO BRANCH ILUPEJU 2 BRANCH GBAGADA BRANCH OJOTA BRANCH ODOGUNYAN BRANCH OSHODI BRANCH MATORI, LADIPO STREET OJUELEGBA, SHIFAWU STREET OSHODI, OSHODI-APAPA EXPRESSWAY RET SHOP – TEJUOSHO MKT, LAG (050) RET SHOP – KETU (088) RET SHOP – DALEKO (099) RET SHOP – OJUWOYE MARKET (099) OSOLO WAY BRANCH NAHCO BRANCH EGBEDA BRANCH EJIGBO BRANCH IJU BRANCH DOPEMU BRANCH IYANA IPAJA, LAGOS ABEOKUTA EXPRESS WAY ISOLO, MUSHIN ROAD IDIMU, IDIMU ROAD IKOTUN OKOTA, 56 AGO PALACE WAY AKOWONJO, SHASHA ROAD MAFOLUKU, INTL AIRPORT ROAD RET SHOP – OKOTA, ISOLO LAGOS (004) ADENIYI JONES IKEJA BRANCH OJODU BERGER BRANCH OPEBI BRANCH IKEJA, AWOLOWO WAY OREGUN BRANCH IKEJA, LADIPO OLUWOLE STREET OGBA, IJAIYE ROAD ALAUSA BRANCH OREGUN, ZIATECH ROAD OREGUN IKEJA GRA, JOEL OGUNNAIKE STREET MAGODO, CMD ROAD IKOSI RET SHOP – IFAKO AGEGE (080) RET SHOP – IFAKO GBAGADA (087) IDUMOTA BRANCH OGUNLANA DRIVE BRANCH 67 ST FINBARRS RD-BARIGA IJESHATEDO BRANCH UNIVERSITY OF LAGOS BRANCH SABO YABA BRANCH ADENIJI ADELE BRANCH EBUTE METTA BRANCH EBUTE METTA, MARKET STREET OYINGBO APONGBON, ISSA WILLIAMS/OFFIN RD RET SHOP – IDDO, EBUTE METTA) ARTICLE MARKET BRANCH RET SHOP-NASS. STATE UNI.KEFFI(073) LAFIA, DOMA ROAD KEFFI, ABUBAKAR BURGA STREET MINNA, PAIKO ROAD SULEJA DEPOT CASH CENTRE MINNA 2 BRANCH SULEJA, IBB MARKET OOU BRANCH ABEOKUTA, UACN COMPLEX IBARA SAGAMU, AKARIGBO STREET IJEBU ODE, 35 IBADAN ROAD COVENANT BRANCH RCCG CAMP BRANCH OKE ILEWO BRANCH ILARO BRANCH OTTA, OTTA INDUSTRIAL LAYOUT OWODE YEWA MARKET BRANCH IDI IROKO BORDER BRANCH OTTA, IDIROKO ROAD RET SHOP – BABCOCK UNIVERSITY (137) AKURE BRANCH ADEKUNLE AJASIN UNIVERSITY CAMPUS BRANCH AKURE, OYEMEKUN STREET ONDO, YABA ROAD ADEYEMI COLLEGE OF EDUCATION IREE BRANCH ILESHA, ITA BALOGUN STREET ILE IFE BRANCH IPETU IJESHA BRANCH OAU ILE IFE BRANCH REDEEMER UNIVERSITY EDE BRANCH SAKI BRANCH APOMU BRANCH LAUTECH BRANCH BODIJA BRANCH 2 IWO ROAD 2 BRANCH UCH IBADAN BRANCH IBADAN, OKE – ADO IBADAN, AGODI UCH SECOND GATE OYO BRANCH OJOO BRANCH OGBOMOSO BRANCH OGBOMOSHO, ILORIN ROAD BODIJA BRANCH 1 NEW COURT ROAD BRANCH EKOTEDO BRANCH IBADAN JOS BRANCH JOS, COMMERCIAL AREA JOS, CLUB ROAD RET SHOP – KATAKO (015) BUKURU BRANCH RET SHOP – UNIVERSITY OF JOS (055) IKOKWU BRANCH RET SHOP – OLD ABA ROAD, PH (086) BONNY CASH CENTRE ELEME BRANCH EASTERN BULKCEMENT BRANCH PH, TRANS AMADI PH, FOT ONNE OBIGBO PH, LOCATION ROAD RET SHOP – ODUA ROAD, PHC (003) BORI BRANCH UNIPORT BRANCH RSUST BRANCH PH, 50 IKWERRE ROAD PLOT105 OLU OBASANJO PH BRANCH GARRISON BRANCH GADA MARKET BRANCH USMAN DANFODIO UNIVERSITY BRANCH SOKOTO, MAIDUGURI ROAD GUSAU, CANTEEN ROAD
https://www.google.com/amp/s/www.herald.ng/access-bank-shuts-down-346-branches-nationwide-to-cut-down-cost-due-to-coronavirus/amp/
Its like after swallowing diamond bank the thing no gree digest ooo 2 Likes |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by chigoizie7(m): 10:11pm On May 02, 2020 |
Some of the closures are understandable.
For example. There is an AccessBank next to diamond band inside unizik awka.
Also. There is AccessBank next to diamond bank in Regina awka.
There is also an AccessBank next to diamond bank in main market. Same in building materials ogidi.
I do not think that both branches will operating at the same time in the same location when it actually is one entity. That is a pure waste of running cost.
It is very understandable that half of the AccessBank branches be closed after the merger with diamond bank. No need for the waste.
And since those branches are closed, the staff will also be retrenched. 2 Likes 1 Share |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by aremso(m): 10:13pm On May 02, 2020 |
xcabczyxabczzzz: This bank is just useless.
They just want our cash to continue losing value in their deposit. ofcourse, the depositors will be loosing while investors will still smile to the bank at the end of the yr |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by Stewart883(m): 10:13pm On May 02, 2020 |
Closed Financial Institutions
Below is the list of 45 failed banks which were closed, having had their licences revoked by the Central Bank of Nigeria, between 1994 and 2006. The Federal High Court issued orders for them to be wound up and appointed the Nigeria Deposit Insurance Corporation (NDIC) as Liquidator of the banks.
The Corporation is currently winding up the banks.
List of Closed Financial Institutions under Liquidation
S/NO NAME OF BANK UNDER LIQUIDATION DATE OF CLOSURE 1 Abacus Merchant Bank Ltd Jan. 16, 1998 2 ABC Merchant Bank Ltd Jan. 16, 1998 3 African Express Bank Ltd Jan. 16, 2006 4 Allied Bank of Nigeria Plc Jan. 16, 1998 5 Allstates Trust Bank Plc Jan. 16, 1998 6 Alpha Merchant Bank Plc Sept. 08, 1994 7 Amicable Bank of Nigeria Plc. Jan. 16, 1998 8 Assurance Bank of Nigeria Plc Jan. 16, 2006 9 Century Merchant Bank Ltd. Jan. 16, 1998 10 City Express Bank Plc Jan. 16, 2006 11 Commerce Bank Plc Jan. 16, 1998 12 Commercial Trust Bank Ltd Jan. 16, 1998 13 Continental Merchant Bank Plc Jan. 16, 1998 14 Coop. & Commerce Bank Plc Jan. 16, 1998 15 Credite Bank Nig. Ltd Jan. 16, 1998 16 Crown Merchant Bank Ltd. Jan. 16, 1998 17 Financial Merchant Bank Ltd. Jan. 21, 1994 18 Great Merchant Bank Ltd. Jan. 16, 1998 19 Group Merchant Bank Ltd. Jan. 16, 1998 20 Gulf Bank Ltd Jan. 16, 2006 21 Hallmark Bank Plc Jan. 16, 2006 22 Highland Bank of Nig Plc Jan. 16, 1998 23 ICON Ltd. (Merchant Bankers) Jan. 16, 1998 24 Ivory Merchant Bank Ltd. Dec. 22, 2000 25 Kapital Merchant Bank Ltd. Jan. 21, 1994 26 Lead Bank Plc Jan. 16, 2006 27 Lobi Bank of Nig. Ltd. Jan. 16, 1998 28 Mercantile Bank of Nig. Plc. Jan. 16, 1998 29 Merchant Bank of Africa Ltd. Jan. 16, 1998 30 Metropolitan Bank Ltd. Jan. 16, 2006 31 Nigeria Merchant Bank Ltd. Jan. 16, 1998 32 North-South Bank Nig. Plc. Jan. 16, 1998 33 Pan African Bank Ltd. Jan. 16, 1998 34 Pinacle Commercial Bank Ltd. Jan. 16, 1998 35 Premier Commercial Bank Ltd Dec. 22, 2000 36 Prime Merchant Bank Ltd. Jan. 16, 1998 37 Progress Bank Ltd. Jan. 16, 1998 38 Republic Bank Ltd June 29, 1995 39 Rims Merchant Bank Ltd. Dec. 22, 2000 40 Royal Merchant Bank Ltd. Jan. 16, 1998 41 Trade Bank Plc Jan. 16, 2006 42 United Commercial Bank Ltd. Sept. 8, 1994 43 Victory Merchant Bank Ltd. Jan. 16, 1998 44 Eagle Bank Plc. Jan. 16, 2006 45 Liberty Bank Plc. Jan. 16, 2006 The above list of closed financial institutions does not contain the names of these banks whose licences were revoked by the Central Bank of Nigeria but the Federal High Court is yet to issue winding up orders and appoint the Corporation as Liquidator for the banks. Due to court actions instituted by some of the closed banks’ shareholders challenging the revocation of their banks’ licences, the Corporation was unable to conclude the closing exercise and initiate the payment of deposits to depositors of the banks.
To view the record of Court Proceedings for such closed banks, go to Litigation under Legal Matters/Regulations
A1. Savannah Bank of Nigeria Plc, licence revoked Feb. 16, 2002, click sbn-court-proceedings A2. Peak Merchant Bank Limited, licence revoked Feb. 28, 2003,click pmb-court-proceedings B1. Eagle Bank Plc, licence revoked Jan. 16, 2006, (NDIC appointed Provisional Liquidator) click eb-court-proceedings B2. Fortune Bank Plc, licence revoked Jan. 16, 2006, (NDIC appointed Provisional Liquidator) click fb-court-proceedings B3. Liberty Bank Plc, licence revoked Jan. 16, 2006, click lb-court-proceedings B4. Societe Generale Bank of Nigeria Plc, licence revoked Jan. 16, 2006, click sgbn-court-proceedings B5. Triumph Bank Plc, licence revoked Jan. 16, 2006, click tb-court-proceedings
UPDATE ON THE LIQUIDATION OF FOURTEEN (14) BANKS AS AT JANUARY 2007
The banking licences of fourteen (14) banks were revoked on 16th January, 2006 by the Central Bank of Nigeria (CBN). The Corporation has so far been appointed the liquidator for nine (9) banks namely; All States Trust Bank Plc, Lead Bank Plc, Assurance Bank Nigeria Limited, Trade Bank Plc, Metropolitan Bank Limited, City Express Bank Limited, Hallmark Bank Plc., African Express Bank Plc. and Gulf Bank of Nigeria Plc. ; and the provisional Liquidator for Fortune Bank and Eagle Bank Plc.
The regulatory authorities decided that Purchase and Assumption Transaction should be adopted to resolve the failure of the 14 banks. Under this arrangement the 9 banks have been or are in the process of being offered to the 25 existing banks to assume their private sector deposits and acquire their assets. The outcome of the bidding processes are as follows:
1. Ecobank Plc emerged the successful bidder for All States Trust Bank Plc (in-liquidation). Ecobank has reopened all the 65 branches from where the failed All States Trust Bank operated. As the depositors of All States Trust Bank turn up, their deposits are verified and new accounts opened for them as Ecobank customers. Over 32,000 depositors have verified their deposit claims. 2. Afribank Plc, likewise, emerged the successful bidder for Assurance Bank of Nigeria Plc (in-liquidation) and Lead Bank Plc (in-liquidation). New accounts were opened for depositors of these banks as Afribank customers. 3. UBA Plc emerged the successful bidder for Trade Bank Ltd (in-liquidation). Verification of depositors commenced on 31st January, 2007 Liquidation activities are at various stages of completion in the rest of the banks where the action of the Corporation is not facing any challenge in court. |
Re: Access Bank To Shut Down 346 Banks Nationwide (List) by chigoizie7(m): 10:13pm On May 02, 2020 |
seunmsg: Nigerian banks are too fragile. They can hardly survive any downturn in the economy without massively laying off staff.
Some of these banks also bite more than they can chew. What Access bank is going through now reminds me of my little stint with BankPHB.
BankPHB acquired spring bank late 2008 in a very hostile manner. Billions of depositors funds was committed into the acquition. By March 2009, the bank was already distressed and laying off staff. The hostile nature of the takeover also made it impossible for the quick integration of the operations of the banks. There was also the effect of the global meltdown and crash of the stock exchange market that year.
By the Sanusi came in as CBN Governor around June, the bank was already a mess. He did not bother to romance the problem, he simply killed the bank and other banks that were then struggling to survive the global meltdown and crash of the stock exchange market by late 2009.
Hopefully, Access bank won’t go the way of BankPHB. Some of the closures are understandable. For example. There is an AccessBank next to diamond band inside unizik awka. Also. There is AccessBank next to diamond bank in Regina awka. There is also an AccessBank next to diamond bank in main market. Same in building materials ogidi. I do not think that both branches will operating at the same time in the same location when it actually is one entity. That is a pure waste of running cost. It is very understandable that half of the AccessBank branches be closed after the merger with diamond bank. No need for the waste. And since those branches are closed, the staff will also be retrenched. 1 Like |