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Access Bank denies plan to lay off 75% staff, close over 300 branches

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Access Bank Plc has formally contradicted the claim that it is preparing to retrench 75% of its workforce and shut down over 300 of its branches across the country.

The bank in a statement on Monday, titled “Access Bank not Closing Branches nor Sacking Staff” and signed by Company Secretary, Sunday Ekwochi, said the news was malicious as it intended to distract the institution from “a genuine and compassionate plan to protect our staff and help keep jobs in the unfolding macroeconomic environment.”

Access Bank said the closure of a bank branch was an action that requires the approval of the Central Bank of Nigeria (CBN) and it had not applied for nor obtained the approval of the CBN for the closure of any of its branches as widely speculated.

It stated that it had only suspended operations in some branches following the directive of the CBN.

“At the onset of the COVID-19 pandemic lockdown, we suspended in-branch operations at different locations as directed by the CBN and in line with business continuity plans at vulnerable spots; whilst we continued to provide services through our alternative digital platforms.

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“In line with the phased re-opening of the economy effective May 4, following the Presidential directives, we will be resuming in-branch services in some of our affected branches in a programmed manner to ensure the health and safety of our employees and customers.

“This is also necessary to provide relevant contingency should there be any incident arising from the pandemic.

“We deny in its entirety the baseless and twisted speculation that the bank is sacking 75 per cent of its workforce,” the statement read in part.

According to the lender, all its branches would not be fully open for in-branch services until later in the year because of the pandemic, making it impossible for many of its outsourced staff to perform their duties as usual.

“As we navigate the new normal occasioned by the COVID-19 pandemic, we wish to assure all our esteemed stakeholders that in our traditional manner the bank will continue to ensure that its actions and decisions are guided by fairness justice equity and good conscience,” the bank further stated.

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