Trouble At Union Bank As MD Emeka Emuwa Lays Off Vital Staffers With Huge Compensation, Replaces Them With Loyalists From Former Place Of Work, Citi Bank

There is a quiet but strongly growing agitation at financial institution, Union Bank.

And there are fears that if let unchecked, this development may stifle operations at the notable bank.

Managing Director Emeka Emuwa is accused of strategically doing away with vital staffers at the establishment- and filling the vacuum with loyalists from his former place of employment, Citi Bank.

Emuwa worked at Citi Bank for all of 25years and was helmsman at the place from 2005 till 2012 when he left to take up position as Managing Director at Union Bank.

Informants claim on assumption of office, he had played along as willing and ready to make use of the personel and structure on ground. But recent actions indicate otherwise. He is however said not be facing major and strident outcry as result of the huge ‘compensation’ tied to the job loss.

Sources claim the lay offs are being done in the mould of retrenchment with major take home package, along with non disclosure agreement.

Insiders however claim filling vacant posts with Citi Bank staffers, instead of promoting in house staffers, along with rapidly increasing influence and clout of the M.D Emuwa with his lieutenants in strategic positions have started giving certain public cause for concern. And a growing campaign against this development is on.

Disclosed a privy source ‘the movement against this scenerio is hinged on analysis that a situation in which major operational decision makers within the bank are beholden to the M.D as provider of their employment certainly doesn’t brood well objectivity of purpose….and there is also the aspect of demoralising staff morale by bringing outsiders to fill senior post, instead of promoting’

More revelations revealed, the interests against the management tactics of Mr Emuwa have started coming together- with talks of board room action, to curb perceived mounting unhealthy influence at the fore front of upcoming joint strategy.

And industry watchers keen on how the growing conflict play out.