Ecobank Nigeria Plc has sacked 50 top managers of the bank. The rank of those sacked ranged from Assistant General Manager, Deputy General Manager and above whose monthly salaries range between N1 million and N2 million.
The affected top management staff of the bank were handed their sack letters from the bank’s head office in Victoria Island, Lagos on Tuesday.
A PM News source in the bank explained that the bank has been going through tough time as a result of crippling economy, occasioned by dwindling oil prices and the crumbling of the naira to dollar.
The source said the source of revenue to the bank had trimmed since the hardship began biting hard, noting that, it is afecting all Nigeria banks and that since Ecobank had not been making money, there was no way it could continue to pay the huge wage bill of top echelon staff which ranged from N1 million to N2 million.
“Ecobank is not the only bank facing the biting effect of the economy and the bank is only trying to trim its wages,” the sourcewas quoted as saying.