Reports reaching Nairametrics suggest Ecobank may have sacked 1000 staff.
Media reports suggest 1,040 staff were affected but we believe it will be close to 1400 according to internal sources in the bank
The sack happened yesterday, affected staffs got to work today and could not login to their various duty posts.
Most of the staff are thought to be from the former Oceanic Bank which Ecobank bought a few years ago
Commercial banks around the country have been sacking employees in the last one year as the effect of the fall in oil prices hits hard on the economy.
The combination of unemployment and underemployment rate was reported as 31.2% by the National Bureau of Statistics with over 500,000 jobs lost in Q1 alone.
Ecobank spent about N591.5 million on staff cost in 2015 compared to N649m in 2014