Pulse.ng logo

Skye Bank 'Sacked staff failed 2015 appraisal exercise,' bank defends

The statement also noted that the affected staff were duly laid off in line with the bank’s staff exit policy.

  • Published:
A Skye Bank branch play

A Skye Bank branch


The management of Skye Bank have confirmed the retrenchment of staff barely 24 hours after a directive stopping it by the Federal Government.

In a statement made available to Punch Newspaper, the bank confirmed the dismissal but explained that the affected workers failed the year 2015 appraisal exercise.

The statement also noted that the affected staff were duly laid off in line with the bank’s staff exit policy.

Skye bank explained further that a combination of factors that ranges from low productivity to disciplinary issues were taken into consideration in the annual exercise before the staff's appointment were terminated.

ALSO READ: Skye Bank sacks 200 staff after FG's directive to suspend retrenchment

The staff disengagement exercise is coming a year after the bank’s successful integration with the erstwhile Mainstreet Bank, which it acquired in October 2014; the integration exercise described by analysts as a landmark in Nigeria’s banking industry has significantly improved Skye Bank’s ICT capacity and helped strengthen the bank’s service delivery," the statement read.

It further read, 'The bank extended its appreciation to the affected staff for serving the bank, describing them as members of the family who will always be accorded deserving respect in their future dealings with the bank.'

With over 400 branches and adjudged one of the systemically important banks by the Central Bank of Nigeria, Skye Bank has a balance sheet of over N1.3tn.

The current economic crisis has led to massive job loss, particularly in the banking sector.

According to a report by the Nigerian Bureau of Statistics (NBS), 1.5 million Nigerians became unemployed in the first quarter of 2016 making the country’s unemployment rate grow from 10.4 percent in the last quarter of 2015 to 12.1 percent.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.