SKye Bank Defies FG, Sacks 200 Workers

Despite the warning by the Federal Government of  Nigeria that all commercial banks should stop laying off staffs, Skye Bank PLC on Monday fired about 200 of its permanent staffs.

The Bank said the staff were sacked for failing the 2015 appraisal exercise.

These facts were contained in a statement released by the Bank on Monday.

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Skye Bank sacks 175 workers

The statement said a combination of factors was taken into consideration in the annual exercise.

This ranged from low productivity to disciplinary issues, adding that the affected employees were duly exited in line with the bank’s staff exit policy.

The statement said: “The staff disengagement exercise is coming a year after the bank’s successful integration with the erstwhile Mainstreet Bank, which it acquired in October 2014; the integration exercise described by analysts as a landmark in Nigeria’s banking industry has significantly improved Skye Bank’s ICT capacity and helped strengthen the bank’s service delivery.

“The bank extended its appreciation to the affected staff for serving the bank, describing them as members of the family who will always be accorded deserving respect in their future dealings with the bank.”

The statement said the Bank is adjudged by the Central Bank of Nigeria as one of the systemically important banks, with over N1.3 trillion balance sheet over 400 branches.

Last week, Diamond Bank Plc and Ecobank Nigeria had sacked 200 and 1,040 staff each.

FBN Holdings, the parent company of First Bank of Nigeria Limited, is also contemplating the exit of 1,000 of its staff.

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Daniel Enisan is a content writer at With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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