Subomi Balogun’s FCMB Sacks 300 Workers, Shuts Down Branches

“We only sacked 200” – spokesperson

Financial institution First City Monument Bank (FCMB) just carried out a disengagement exercise.

Informants claimed that about three hundred staffers were affected in the development.

Most of the affected employees reportedly got their sack letter on resumption from official leave.

According to a source ‘ I believe the affected staffers were purposely sent on leave and on resumption told to report to the Human Resource department where they were give sack letters’

Aside this, insiders divulged that the management of the bank with Ladi, son of the founder and chairman of the bank Otunba Subomi Balogun as Managing Director have also shut down some of the bank’s branches across the country.

One of those affected was located within the Lagos State University.

However spokes person for the Bank Mr Kenny Aliu explained the reason for the development.

He clarified that two hundred workers and not three hundred were sacked.

According to him this figure represents less than eight percent of the entire work force of the bank.
He further explained the sack and the closure of some of the bank’s branches are part of ongoing process of strategic growth of the bank.