Workers Shut Down Oceanic Bank Head Quarters In Lagos

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nametalkam (8431) On
3 years ago

Activities at Oceanic Bank Headquarters and all its branches in Lagos State, Southwest Nigeria were paralysed Friday following the decision of the new owner of the bank, Ecobank to pay the disengaged staff paltry sum of money as severance package.
The headquarters of Oceanic Bank on Ozumba Mbadiwe Street, Victoria Island, was shut following protest by disengaged staff rejecting the severance money offered them by the bank.

P.M.NEWS gathered that hundreds of staff of the former Oceanic Bank, which were recruited by Oceanic Security have been laid off.

Policemen took over the gate of the Oceanic Bank Headquarters as staff protested the proposed poor severance package Ecobank intends to pay them.

It was gathered that the bank wanted to pay the disengaged staff N40, 000 per annum across board to disengaged staff recruited by Oceanic Security, a subsidiary of Oceanic Bank.

What this means is that workers who have spent eight years working for the former Oceanic Bank will take home a paltry N320, 000 for all the years spent working for the bank.

The workers said they would only agree to be disengaged if adequate package was paid them, while rejecting what they called peanut offered by the bank to them.

Also, as at this morning, almost all Oceanic Bank branches were shut to workers and customers as customers could not withdraw or deposit any money as a result of the crisis rocking the bank.

The Oceanic Bank branches at Secretariat, Alausa; Amuwo-Odofin and others were shut, while security officers turned customers back.

A staff of the bank, who craved anonymity, said activities had been completely paralysed in all branches of the bank, including the headquarters taken over by policemen.

He said the management of the new bank offered to pay the workers a paltry amount of money as severance allowance, saying that it was completely unacceptable.

According to him, Oceanic Bank had about 300 branches and that staff recruited by Oceanic Security in most of the branches had been laid off, while the new owner had brought in its own staff to occupy the positions of the disengaged workers.

“Right now, in all the branches, things have collapsed. There is no network in all the branches right now and work is not going on,” he said.

Another staff of the bank, who also craved anonymity, told P.M.NEWS that the severance package proposed by the new owner of the bank was too small, saying that those laid off could be in thousands.

When contacted, the Corporate Affairs Manager of Ecobank, Michael Joseph said he could not speak for the Managing Director, saying that the bank would soon issue a press statement on the matter.

There are fears that more workers will lose their jobs in the wake of banking reforms and mergers.

17 Feb 12, 03:32 PM
silviabells (950)
3 years ago

no comment

17 Feb 12, 03:39 PM
rayOFsunshine (982)
3 years ago

Na wa oo

17 Feb 12, 03:44 PM
verah (5258)
3 years ago

datz tru......i witnessed it.......... i was shocked when i got dere but wat can one do

17 Feb 12, 04:02 PM
Diamond4u (341)
3 years ago


17 Feb 12, 04:25 PM
denmal (3225)
3 years ago

bad policies destroying the nation

17 Feb 12, 04:58 PM
3 years ago


17 Feb 12, 05:01 PM
benemeka2 (3)
3 years ago

If this is true,really unfortunate.

17 Feb 12, 05:32 PM
stephen153 (34514)
3 years ago

Rakelly at work  Grin

17 Feb 12, 05:56 PM
Tomnwakor (378)
3 years ago

here we go again

17 Feb 12, 05:58 PM
Idbabe (8109)
3 years ago

If dia union will not sell dem out, let dem hand ova 2 union

17 Feb 12, 06:03 PM
interpo77 (4638)
3 years ago

40 thousand naira is too poor for such vibrant banking entity to disengage workers, though what ever , they should move to court to address the issue instead of fighting and clossing work

17 Feb 12, 06:13 PM
Simon-Zeletus (1128)
3 years ago

Criminal banks

17 Feb 12, 06:15 PM
toibeli (4515)
3 years ago

New owner, new policy.

17 Feb 12, 07:22 PM
Barshkid (306)
3 years ago

No comment!!!!

17 Feb 12, 07:27 PM
ice2002 (2)
3 years ago

it is too bad

17 Feb 12, 08:00 PM
ice2002 (2)
3 years ago

then they pretend to promote and it was discovered they promoted 80% of their staff and 20%  of oceanic bank staff,that is what happens when a rat becomes the owner of an elephant.
I wonder what that man sanusi has to say about all this.BAD POLICIES.

17 Feb 12, 08:03 PM
sonjohn994 (1831)
3 years ago

 i waka with full speed

17 Feb 12, 08:18 PM
Senegal (10394)
3 years ago


17 Feb 12, 08:34 PM
agbonson (611)
3 years ago

wht d new owner did is not fair at all... why nt allowed the old workers to stay and give dem new law instead of paying dem off
this is frustratn, i just hope this  bank is nt sold to d Islamic

17 Feb 12, 08:36 PM

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