Heritage Bank In Crisis…Shut Down Over Mass Sack, Undue Process

Heritage Bank’s Head Office has been shut down over the sack of over 1,000 workers.

CityNews Nigeria reports that the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), has shut down Heritage Bank’s head office in Lagos following the sack of over 1000 personnel by the management of lender led by Mr. Akinola George-Taylor without following due process.

The union said it had resolved to continue with the picketing until the management of the bank decides to do the needful by ensuring the sacked workers get their legitimate severance package.

The aggrieved ex-staff of the bank has locked the gate and prevented anyone from going in or out of the bank’s head office located at 143 Ahmadu Bello Way, Victoria Island, Lagos.

Recall that in October 2023, less than one year after assuming office as Heritage Bank’s chief executive officer, Mr. Akinola George-Taylor forcefully booted out over 70 senior staff members of the bank, while a number of others were asked to resign plunging the bank in further crisis. More worrisome was the fact that the affected staff were disengaged without paying them their accrued entitlements and allowances.

CityNews Nigeria gathered that there has also been an internal crisis allegedly instigated by the bank chief in an attempt to rid the bank of those suspected to be loyalists of some board members and employ his own people. The move, sources disclosed, was unconnected with the new bank chief’s plan to oust some board members who are said to be at loggerheads with him, from the bank. The bank’s chief was said to be enjoying the support of a top shareholder of the bank whom sources say is allegedly determined to solely take over the bank and get rid of the owners.

When contacted by our reporter, Ozenna Utulu, the head of Corporate Communications of Heritage Bank promised to get back to our reporter but never did as at the time of filing this report.

More to come…