Skye Bank Plc Fires 55 Managers

Sources within the bank said these managers were asked to go after they failed in the performance appraisal exercise.

It was said that these manager who were sacked on account of poor performance were adequately compensated by the bank management who has since approved payment of their entitlement and severance packages as contained in their engagement letters and as agreed with the workers’ union.

As the bank was weeding out these managers, it was learnt that almost 300 staff cutting across several cadres up to the managerial level have been promoted.

In his report of the outcome of the annual performance exercise, Mr. Tokunbo Ashiru, Skye Bank’s Group Managing Director/Chief Executive Officer, congratulated all staff of the bank for their hard work in the last financial year, especially given the challenging operating environment.

Abiru urged the newly-elevated staff to see their promotion as a call to re-dedicate themselves to excellence, adding that those who deliver consistently on the job would earn commensurate benefits that befit high performers.

The four directors, who resigned last week, had served in executive management capacity for nearly two years, and were part of the old Board of Directors of the bank, with some earlier had resigned voluntarily on 4 July, 2016 following the intervention of the Central Bank of Nigeria, which consequently re-constituted the Board.