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First Bank denounce plans to lay-off staff

The management of First  Bank PLC has dismissed media reports about mass of employees in the bank.
In a statement issued Monday, the bank said, “The management of FirstBank would like to state emphatically that there are no plans for a “mass sacking” as has been erroneously reported in certain newspapers. On the contrary, as part of our staff replenishment strategy, the Bank has employed 506 fresh graduates in the last three months only.

In our multi-generational existence FirstBank will naturally have a number of staff that qualify for retirement each year.  Their scheduled exit from the institution has sometimes, and regrettably, been misconstrued by some labour unions as “sacking”, thus fuelling misinformation in the press.  In the financial year just ended, the number of staff due for retirement, by virtue of age and length of service, is less than 100, which is a far cry from the 450 reported in some newspapers.

As a major employer of labour in the country, FirstBank is mindful of the repercussions of staff lay-offs of the magnitude being misreported. There will of course always be a natural attrition, however the Bank will continue to seek and retain the best staff in order to actualize our vision and corporate objectives, thus providing the quality and standard of service that our customers demand and indeed desire.

FirstBank therefore remains committed to the development of not only the financial services industry but the economy at large, and would always act responsibly to preserve its heritage as the leading employer in the financial services sector and a key contributor to the wellbeing of the nation.

FirstBank remains Nigeria’s financial services icon providing over a century of dependable services.  With over 4.2million customers, over 8000 staff, nine (9) financial subsidiaries, 536 locations in Nigeria, and presence in the UK, France, South Africa and China, the bank is arguably the country’s most diversified financial services group.


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