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BOA to close 126 branches

As part of efforts to improve its services to Nigerian farmers and ensure food security, the Bank of Agriculture (BOA) says it has concluded plans to scale down its branches from 201 to 75.

Documents made available to newsmen in Kaduna stated that the exercise became necessary because its financial position could no more accommodate all the branches.

Following this development, the Board of Directors of the bank directed the management to implement the decision between June and December. Consequently, more than 400 workers from the rank of General Manager to drivers would lose their jobs when the

exercise is completed. However, professionals would be recruited to man the bank’s specialised desks. The bank had last month sacked 76 staffers while more than 300 would lose their jobs before the end of the year.

“The bank will terminate the appointments of 51 drivers, 203 clerks and 63 secretaries between now and December,” an official of the bank who preferred anonymity said.

The source, however, said that the bank would recruit 16 experienced persons for Risk Management, Corporate Planning, Corporate Communications Units, MD’s office, Classified Asset management and IT.

But in its protest to the bank over the sacking, the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), complained about the management’s failure to abide by the agreement reached by the two bodies during a meeting on May 10.

The association said in a letter dated June 1, 2011 and signed by its Assistant Secretary-General (Industrial and International Relations), Mr F. A Inegbedion, that the bank had violated their agreement.

“We refer to our meeting of May 10, 2011, with your management on the above subject matter and wish to reiterate the number of the affected members that was disclosed at the meeting was 10. However, we have been reliably informed, as per the attached list, that the number of the affected members involved is 43.


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