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FCMB sacks 300 Subomi Balogun says we only sacked 200 ! Shuts down nationwide branches

Posted by cozzy webtatafo on February 16, 2011 at 9:08pm
12166303088?profile=original300 Workers, Shuts Down Branches

"We only sacked 200"
- spokesperson.
    Subomi Balogun

Financial institution First City Monument Bank (FCMB) just carried out a disengagement exercise.


Informants claimed that about three hundred staffers were affected in the development.

Most of the affected employees reportedly got their sack letter on resumption from official leave.

According to a source ‘ I believe the affected staffers were purposely sent on leave and on resumption told to report to the Human Resource department where they were give sack letters’

Aside this, insiders divulged that the management of the bank with Ladi, son of the founder and chairman of the bank Otunba Subomi Balogun as Managing Director have also shut down some of the bank’s branches across the country.
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Goodluck sacks football federation

Posted by Choochoo Sports Book on July 1, 2010 at 5:34am
Nigeria’s President, Goodluck Jonathan, took steps to clean up the country’s football yesterday by dissolving the board of the Nigeria Football Federation and withdrawing the national teams from international football competitions for two years...

The decision came against the backdrop of the Super Eagles’ poor performance at the ongoing FIFA World Cup in South Africa. The Eagles finished at the bottom of Group B with one point after three matches.

Presidential spokesman, Ima Niboro who broke the news to journalists in Abuja said the move by the government was to enable the country put its house in order:

“The most important thing is that the President has directed that Nigeria withdraws from all international competitions for the next two years. This will enable us put our house in order and enable us work out a more meaningful way to engage the global stage in terms of football so that this kind of rather embarrassing outcome we had in South Africa will not repeat itself,” he said.

The president’s directive did not just stop at the moratorium on Nigeria’s participation in international football events. He also ordered that NFF offices be sealed and employees of the body be sent home. At the time of filing this report, this directive had been fully complied with and armed policemen were seen barricading the entrance to the NFF building. Mr Niboro said President Goodluck had also directed that:

“Audit be undertaken of the finances of the World Cup project; that any perceived misapplication of fund should be investigated and relevant agencies of government involved in tracking down whoever has done wrong and bringing whoever found culpable to book.” He added:

“The President also approved that the FCT Minister should find a suitable piece of land for the building of the Nigeria Football House. This will also serve as Secretariat to the Nigeria Football Association. These are the Presidential directives that came out of the meeting this afternoon,” Mr Niboro said.

Task force report

Before the decision to move against the football federation was taken, Mr Jonathan was briefed by members of the President Task Force (PTF) set up by late President Umar Yar’Adua to ensure Nigeria’s qualification for and credible performance at the World Cup, on the Eagles outing in South Africa. Rotimi Amaechi, Chairman of the committee and Governor of Rivers State, who also spoke to journalists after the government’s decision said president Goodluck acted largely on the recommendation of the task force. He said:

“Our recommendations were based on what we saw and what we met on ground. You will observe that the history of our qualification was not as smooth as it used to be before. We struggled to qualify. We got to the World Cup, we got a new coach; PTF was paying the Coach.

We agreed to pay the Coach $1.3 million which we paid. We got to the World Cup and we had all sort of mal-administration; we also had all sorts of problems and we find out that the problem of Nigeria Football now is structural and there is the need for us to look inward, sit back and re-organise the structure to ensure that we don’t continue to have what we currently have now.” He continued:

“We recommended to Mr. President, which he has approved that we formally write FIFA to say that Nigeria will not engage in any international competition for the next two years so that when we re-organise Nigeria Football and train higher coaches and all that and come out to any competition it will be to the delight of the Nation.

“The Nation has been punished enough, people have had heart attack because of Nigerian football. We want to reorganise and get it back to what it used to be when it was the pride of the Nation and we are glad that Mr. President has approved all our recommendations and given directive to that effect.

To stave off a possible backlash from world football governing body, FIFA, which frowns at interference by government in the administration of football, a letter explaining Nigeria’s decision to reorganise its football for the next two years has already being sent via email to the football body. An aide of the sports minister, Ibrahim Bio, who wants to remain anonymous, said the decision to inform FIFA did not arise from fear of any possible sanction but was done as a matter of courtesy.

“We are a sovereign nation and have a right to run our affairs without anyone outsider dictating to us,” he said.

Attempts to get FIFA to respond to the new developments were unsuccessful at the time of filing in this report.
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Y'hello ! MTN Nigeria sacks 65 workers including managers

Posted by Jane Okinedo on November 19, 2009 at 9:05pm
Barely, two days after saying the job cuts, which started from South Africa will not affect Nigeria, the MTN Group on Thursday, announced the sack of 65 workers, including divisional managers in its Nigerian operations.In a press statement announcing the sack, MTN Nigeria said the move will help it embark "on an aggressive plan to refocus its customer service operations towards the next generation customer care."The affected 65 permanent staff from the customer relations unit, include "60 customer care representatives, two managers; two supervisors; and one manger on suspension."Staff performance reviewsIn an email response to NEXT on the matter, Funmilayo Omogbenigun, the general manager of corporate Communication of MTN Nigeria, said, "The disengagements followed a series of internal reviews in the Customer Relations Division, specifically related to performance, values and standards."As per my previous response, the Customer Relations Division is repositioning itself for a dramatic and tangible improvement in customer service delivery, and this necessitates an enhancement of the quality of its current resources. As a responsive and responsible corporate organisation, we are committed to providing a service that exceeds the expectations of our customers."According to a statement released by the company, MTN Nigeria has invested over N4.5 billion on technology that would support customer service delivery.The company also said it plans to spend about N25 billion to establish new call centres that will create about 1,500 new jobs.Ms. Omogbenigun said the jobs would be offered to he best quality staff, while our source revealed that the mobile telecoms giant, this month recruited 1,000 new temporary staff with 13 supervisors all in the customer care unit.MTN GroupThe MTN Group is one of the largest telecommunication operators in Africa with its major growth coming from South Africa, Nigeria and Ghana.The firm acknowledged that the current global recession is a major issue, as with other telecoms operators, as its subscribers' base has declined."With respect to MTN Nigeria, and the issue of an economic crunch, the company like every other business in Nigeria, has to a certain extent, experienced the generic fallout from a global recession," said Ms. Omogbenigun.Citing the global financial crunch as the major reason, MTN South Africa sacked about 403 permanent and over 2,100 temporary staff (70% of 3,000 temporary staff).Speaking on the latest job cuts in the industry, Emmanuel Ekuwem, the president, Association of Telecommunication Companies of Nigeria, said, "I am just hearing this from you; I need to know more details about the lay off because MTN Nigeria should be making profit here in Nigeria, because this would raise questions if MTN is no longer making profit. But if the layoff is based on staff productive issue, companies can lay off staff in order not to drain the company from making profit."
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StanbicIBTC sacks hundreds of workers

Posted by Jane Okinedo on September 14, 2009 at 9:38pm
By Oluwaseyi BanguduStanbicIBTC Bank is said to have sacked hundreds of its workers over the weekend, but the exact number of affected workers is still uncertain, as the bank has not said anything on the development.But sources at the bank said yesterday that the number ranges from 200 upwards, and cuts across various cadres and divisions within the group.One of the sources confirmed in a telephone interview, "Yes, the bank sacked about 300 people," adding "Our subsidiary is yet to be affected but people are now on edge," without giving further details.While another bank source said "We don't know if we would be affected, the whole bank branches, stock broking and different operational bits are affected, but so far, it was 300 people in an organisation of... not sure of the total. I am in the asset management session with a different human resource management team, so we may still be affected."The global crisis and the recent cleansing by the Central Bank of Nigeria (CBN), has seen many bank workers relieved of their duties, similar to the pre-consolidation era, when banks which could not shore up their capital base to n25 billion, or be acquired by another bank or merge with others, had to close shop rendering their workers jobless.Shocks industryThe news of the StanbicIBTC sack came as a shock to many industry watchers, especially as the bank, along with two others - because of their foreign ownership - will not be audited by the CBN, and therefore, had no cause to fear for its operations.Besides, analysts believe that the October 2007, $5.5 billion investment for 20 per cent stake in Standard Bank, South Africa's largest bank by assets and earnings, by China's largest bank, the Industrial and Commercial Bank of China, should have helped get the Nigerian unit, StanbicIBTC, out of the woods.But the recent sack tends to suggest that the Nigerian unit might be in deeper trouble than anticipated, and underscores queries on why the CBN should leave the foreign-affiliated banks out of the stress audits.Also, Friday's signing of a $1 billion loan facility between Standard Bank and four major Chinese banks, apparently did not impact on the fortunes of the Nigerian unit, reputed to be one of the strongest units of the bank group in Africa.Bank UnionObukese Orere, the Acting Sectary General of the Association of Senior Staff of Banks, Insurance and Financial Institutions, an affiliate of the Nigeria Labour Congress, noted that even though it wants to take up the issue of job losses in the banks with Sanusi Lamido Sanusi, the CBN governor, he admitted, "We cannot really stop these people from laying off their staff but they must be well packaged before they are laid off. That is where we come in; that those who are leaving do not suffer much. Nothing is permanent."IMF's RecommendationMeanwhile, Dominique Strauss-Kahn, the Managing Director International Monetary Fund, in an interview with a German magazine on Saturday, urged banks in various nations to do more to adopt financial market regulations and find exit strategies, as the global economic crisis will continue.
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