Tension has risen at Unity Bank Plc after more than 100 employees received termination letters on January 1, 2026, sparking concerns about labour practices and corporate governance. The dismissals came amid the bank’s ongoing merger with Providus Bank Plc.
Titansloaded reports that the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has issued an ultimatum to the bank, demanding immediate reinstatement of at least 42 affected workers. The union warned that failure to comply by January 8, 2026, could lead to industrial action.
The letters, reportedly signed by Managing Director Ebenezer Kolawole, denied staff access to internal systems without prior notice or consultation. Many employees expressed shock and emotional distress upon receiving the notices after the holiday break.
ASSBIFI condemned the action as a breach of due process and warned it violated a prior understanding that no staff would be dismissed during the merger without proper engagement. The union described the ultimatum as a last attempt to resolve the issue amicably.
Civil society advocates have also weighed in, highlighting that restructuring often disproportionately affects employees. They called for Unity Bank Plc management and regulators to handle the situation with fairness, transparency, and respect for workers’ rights.
The union emphasised that dialogue is critical to prevent escalation and maintain trust in the banking sector, urging management to consider the long-term impact of the dismissals on staff morale and public confidence.
Industry observers note that unresolved labour disputes in major banks can harm reputations and investor confidence, particularly during mergers and acquisitions. Stakeholders are closely monitoring developments ahead of the January 8 deadline.
Titansloaded will continue to track the Unity Bank staff crisis, providing verified updates on negotiations between the bank and ASSBIFI, as well as any developments regarding potential industrial action or reinstatements.
