The Affiliation of Senior Employees of Banks, Insurance coverage and Monetary Establishments (ASSBIFI) has given the administration of Unity Financial institution Plc until eighth January, 2026, to recall the over 100 employees it terminated their appointments.
On January 1, 2026, Mr Ebenezer Kolawole, the managing director, Unity Financial institution Plc, directed the pinnacle of human sources to serve over 100 employees their termination letters and instantly deny them entry to all logins.
The New Yr ‘present’ which got here as a impolite shock to the affected employees, it was learnt, despatched a few of them to the hospitals, an motion which ASSBIFI termed “provocative and a deliberate violation of due course of”.
Sadly, Unity Financial institution had earlier reached an settlement with the bankers that no worker shall be sacked because of the merger between Unity Financial institution Plc and Providus Financial institution Plc with out due session and due course of.
Thus the victims accused the MD of wrongful termination with out session, legitimate causes and failure to adjust to due course of, thus contravening the Nigeria Labour Act in addition to the scheme of merger doc between Unity Financial institution Plc and Providus Financial institution Plc.
Nevertheless, on January 2nd 2026, sources confirmed a doc written and signed by Nike Joseph, performing president, ASSBIFI and addressed to the MD/CEO of Unity Financial institution, requested him to right away reverse the sack of 42 employees that they’re conscious of or face a present down and industrial actions.
The union has requested the MD to withdraw the termination letters instantly and be prepared for a gathering with them to resolve the matter amicably.
“An ultimatum of eighth January 2026 has been issued by the warring union to deal with the matter promptly to keep away from taking the required industrial actions.
“How can Nigerians be shouting ‘Completely satisfied New Yr’ to 1 one other in church buildings and in golf equipment throughout the nation, whereas some bankers begin the New Yr of their employees with unhappiness?” the supply questioned.
Equally, Comrade Basah Mohammed, Civil Society Practitioner and Public Affairs Analyst, stated what is going on at Unity Financial institution feels painfully acquainted. We now have seen this sample earlier than. A restructuring occurs, a merger is introduced, and employees find yourself carrying the heaviest burden.
“Nobody is pretending that mergers don’t include onerous choices. They do. However individuals matter, and the way these choices are taken issues much more. If there was an understanding that employees wouldn’t be disengaged with out session, then breaking that understanding is not only a procedural challenge. It’s a belief challenge.
“For a lot of of those employees, this isn’t only a job loss on paper. It’s hire, faculty charges, household tasks, and years of service abruptly lowered to a termination letter. That human value ought to by no means be an afterthought, particularly in a rescue merger that was meant to stabilise confidence, not deepen nervousness.
“That is additionally the place regulators should be agency. Saving a financial institution shouldn’t imply weakening labour protections or ignoring agreed processes. Transparency, dialogue, and equity will not be luxuries. They’re what preserve establishments credible.
“At this level, escalation helps nobody. The financial institution, the union, and regulators want to take a seat down, revisit what was agreed, and resolve this with empathy and honesty. Sturdy establishments are constructed when individuals really feel revered, not discarded” he said.
