Business Ecobank Sacks 50 Top Managers [PM NEWS]



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Ecobank Nigeria Plc has sacked 50 of its top managers.


PM NEWS reports that 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.

A Source within the bank who spoke to Ecobank 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” and that “since those at the top earned more, it decided to sack many at the top level”.