Union Kicks as Unity Bank Terminates Over 100 Employees After Merger
- The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has protested the sack of over 100 staff by Unity Bank Plc
- The union gave Unity Bank an ultimatum to recall the dismissed staff or risk large-scale, emphasising that the sack violates labour laws and the Unity–Providus merger agreement
- Stakeholders have called for dialogue, fairness, and regulatory oversight to address the dispute that arose from the dismissal
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has issued an ultimatum to the management of Unity Bank Plc, demanding the recall of staff whose employments were recently terminated.
According to the union, Unity Bank sacked over 100 staff, many of whom received their termination letters on January 1, 2026.
Source: UGC
ASSBIFI alleged that the directive to fire the staff was issued by Unity Bank’s managing director, Ebenezer Kolawole. The letters reportedly instructed that the employees’ access to official systems be immediately withdrawn.
ASSBIFI issues ultimatum
The union said the bank has until January 8, 2026, to reverse the termination or face possible industrial action.
It described the action as shocking and distressing to the affected staff, noting that some reportedly required medical attention. ASSBIFI said the move violated agreed procedures and existing labour regulations.
ASSBIFI further claimed that Unity Bank had earlier reached an understanding with employees that no staff would be disengaged as a result of the merger between Unity Bank Plc and Providus Bank Plc without proper consultation and adherence to due process.
Indiscriminate termination breaches Nigerian law
According to the union, the terminations breached the Nigeria Labour Act and the merger agreement, as affected employees were dismissed without consultation, valid justification, or compliance with agreed procedures.
ASSBIFI, through a letter signed by its acting president, Nike Joseph, reportedly asked the bank’s management to immediately reverse the dismissal of at least 42 staff members already identified by the union.
The letter warned that failure to do so could lead to a showdown and industrial actions.
The union also requested an urgent meeting with the bank’s management to resolve the matter amicably, stressing that dialogue remains its preferred option.
ASSBIFI questioned the timing of the sack, describing it as inappropriate given the New Year period, and urged the bank to reconsider its decision in the interest of staff welfare and industrial harmony.
Civil society commentator reacts
Reacting to the development, civil society practitioner and public affairs analyst, Comrade Basah Mohammed, said the situation reflects a recurring pattern where workers bear the brunt of corporate restructuring.
He said while mergers often involve difficult decisions, agreed processes and human considerations must not be ignored.
Mohammed added that job losses have real consequences for families and livelihoods, and should not be treated as mere administrative actions.
He also called on regulators to ensure that labour protections are upheld during bank mergers, stressing the need for transparency, dialogue, and fairness.
According to him, resolving the issue through engagement would help prevent further escalation and restore confidence.
Source: UGC
Providus Bank takes over Unity Bank PLC
Legit.ng earlier reported that Providus Bank, which holds a regional banking licence, took over the corporate identity and structure of Unity Bank PLC.
Under the merger arrangement, Providus Bank’s certificate will serve as the enlarged institution.
According to reports, the arrangement entails that Unity Bank’s share capital will be cancelled, which will lead to dissolution.
Source: Legit.ng
