Breaking: Skye Bank announces sack of staff, tears families apart in Nigeria as economic crisis worsens

Skye Bank Plc has announced the sack of some staff members in the senior management cadre who failed in the performance appraisal exercise appraisal exercise on account of poor performance, National Daily reports.

Although it did not disclose the number of the exited staff members,the report says that about 55 persons were affected in the exercise.

In a statement released by the bank, it said the management has since approved payment of the entitlement and severance packages to the exited staff members as contained in their engagement letters and as agreed with the workers’ union.

The bank also announced that it compensated some staff members in the senior management cadre with monetary rewards for their diligence and productivity, while about 300 staff members were also promoted.

The promotion, National Daily gathered, cuts across several cadres up to the managerial level.

While announcing the outcome of the annual performance exercise, the Group Managing Director/Chief Executive Officer, Skye Bank, Mr. Tokunbo Abiru, congratulated all staff members of the bank for their hard work in the last financial year, especially given the challenging operating environment.

He said, “We will continue to reward our staff who display high level of commitment towards their responsibilities and the bank’s strategic objectives.

“A performance-driven organisation is critical to the achievement of the bank’s overarching objectives.”

Abiru urged the newly-elevated staff members to see their promotion as a call to re-dedicate themselves to excellence, adding that those who deliver consistently on the job would earn commensurate benefits that befit high performers.

Skye Bank had last week announced the voluntary resignation of some executive directors from its services. The directors, who had served in executive management capacity for nearly two years, were part of the old Board of Directors of the bank, some of who had earlier resigned voluntarily on July 4, 2016 following the intervention of the Central Bank of Nigeria, which consequently re-constituted the Board.