TheCable

The management of Ecobank Nigeria has denied claims that it disengaged a large number of its staff.

In a statement released on Wednesday, the bank said the people affected were contract staff adding that it decided not to renew the contract of its third party recruitment agencies.

Ecobank said it was not under any obligation to renew its contract with the service providers.

“The bank decided not to renew the contract of its third party recruitment agencies which expired recently and as such returned this category of personnel back to these agencies who are their employers,” it said.

“Palliative measures were put in place by the Bank to cushion the effect on them. These include payment of contract cessation packages of over half a billion naira already paid through their employers as well as an opportunity given to those with requisite qualification to apply to the bank for permanent employment.

“In addition, the bank has offered them the opportunity to become Xpress point agents of Ecobank as a way of further providing them entrepreneurial and financial empowerment.”

The bank said it has plans to absorb 300 graduates into its system as permanent staff.

These people, it said, are currently undergoing training at its academy which was recently accredited by the Chartered Institute of Bankers of Nigeria.