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Skye Bank violates Labour Minister’s order, sacks 55 but promotes 300

Contrary to a prevailing order and understanding reached between Nigerian banks and the Minister of labour and productivity, Dr. Chris Ngige before the end of last year, the management of Skye Bank Plc has disengaged about 55 staff.

This was however, diluted with the promotion of over 300 of its employees under the 2016 annual staff performance review exercise.

The promotion cuts across several cadres up to the managerial level and seems to be in line with its effort to reward staff members who performed creditably in their various roles during the past financial year.

Details gathered from the bank Wednesday showed that sacked workers were workers that failed in the performance appraisal exercise.

In a statement, Skye Bank said “The management of the bank has since approved payment of the entitlement and severance packages to the exited staff as contained in their engagement letters and as agreed with the workers’ union”.

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.

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