Sterling Bank Debunks Report on Sack of 650 Staff


Chika Amanze-Nwachuku

Sterling Bank Plc has debunked reports that it sacked 650 staff members. The lender explained that it only returned the affected workers to service providers that had earlier assigned them to work with the bank.

 The company made the clarification in a statement thursay.

 Although, the bank said it had initially refrained from issuing a statement to counter the mischievous claim, “the spread of the falsehood by online reporters has compelled us to come up with this statement to put the record straight.”

It said: “Specifically, the 650 staff being reported are not staff of Sterling Bank Plc. They were assigned to the bank by our service providers and as contained in the Service Level Agreements (SLA), they can be returned to the service providers for reassignment to any other institution by the service providers as they deem fit.

  “As an organisation, we have, over the years invested heavily in making Sterling Bank a great place to work for our staff and this has endeared them to the Bank.”

 Sterling Bank said the number of staff from other banks willing to join Sterling Bank has also remained high.

“Despite the poor economic situation with institutions laying off staff, Sterling Bank in the last 11 years of its corporate existence, has established itself as institution that is employee’s delight.

“Indeed, if you are looking for an institution that cares about its people, Sterling Bank is it. The bank has continued to build its staff into the best they could be and recognises their contributions to its success,” the bank said in the statement.

 It further stated that Sterling Bank is managed as a business “that cares about its people though operating in an industry that is known for empathy towards employees.”

Apart from paying what could be described as decent wages, Sterling Bank said it has an outstanding record of winning and growing while giving employees an incredible opportunity to grow and develop.

“Apart from having retirement plan; a good healthcare facility and the introduction of flexi time and place to enable staff chose the preferred time and place to discharge their responsibility.

“To build capacity for its people, the Bank has instituted excellent training and developmental programmes such as the Sterling Graduate Associate and the Sterling Management Associate programmes targeted at identifying, grooming and developing young talents for leadership positions in the bank,” the statement added.



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