Access Bank, Nigeria’s biggest Bank by assets, has come under fire from Nigerians, after it revealed plans to dismiss 75 percent of its workforce, due to the economic disruption caused by the novel coronavirus pandemic.
Recall, that Access Bank had recently donated N1 billion to the Federal Government, to fight against the coronavirus.
Herbert Wigwe, the Chief Executive Officer, CEO, of Access Bank, had communicated the financial lender’s plans in a video conference call with staff, which was leaked out.
In the now-viral two-minute video, Wigwe said that the Bank will no longer require all its Security Personnel, Office Assistants, and Tellers, which he said constitutes 75 percent of staff, to resume operations when the lockdown is lifted on Monday, as the institution may still not be able to operate at full capacity, due to the crisis.
He also stated that the Bank will need to cut down its professional cost, in order to sustain its operations and remain in business.
The CEO indicated that he will take the biggest pay-cut, as much as 40 percent, and urged other employees to be prepared to get a slash in their salaries.
Wigwe insisted that although the decisions are difficult, they are to be taken for the good of the institution.
He maintained that Access Bank must remain standing, even if other financial lenders go down as a result of the pandemic.
