Unity Bank Faces Criticism Amid Massive Workforce Reductions

Unity Bank Faces Criticism Amid Massive Workforce Reductions

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) is raising a ruckus following the abrupt termination of over 100 employees at Unity Bank Plc. The union has drawn a line in the sand, giving the bank an ultimatum to reinstate the dismissed staff or brace for a storm of industrial action.

In what can only be described as an unwelcome New Year’s surprise, many staff members received their termination letters on January 1, 2026, a move that has sent shockwaves through the workforce.

ASSBIFI alleges that the directive came straight from the top, issued by Unity Bank’s managing director, Ebenezer Kolawole. The news was grim: access to official systems was yanked away on the spot.

With a deadline set for January 8, 2026, the union is adamant that the bank must reverse these terminations or prepare for serious consequences.

ASSBIFI has labeled the bank’s decision not just alarming but potentially damaging to the mental and physical health of those affected, with reports suggesting some staff needed medical attention post-termination.

Unity Bank Faces Criticism Amid Massive Workforce Reductions

ASSBIFI holds that these layoffs violate agreed labor practices and regulations, claiming that Unity Bank previously assured employees that no one would be let go due to the merger with Providus Bank without proper consultation. But here we are, with terminated employees left out in the cold—no dialogue, no justification, and certainly no adherence to due process.

The union’s acting president, Nike Joseph, has written to the bank demanding an immediate reversal of the dismissal of at least 42 identified staff members. The letter emphasized that if the bank ignores their plea, it could lead to major industrial unrest.

ASSBIFI is seeking an urgent meeting with management to sort things out, declaring that they prefer a peaceful resolution over a brewing conflict.

The timing of this fiasco couldn’t be more questionable, especially coming right after the New Year. ASSBIFI is urging Unity Bank to take a step back and reconsider its decision for the sake of employee welfare and to maintain workplace harmony.

Adding fuel to the fire, civil society practitioner Comrade Basah Mohammed criticized the layoffs as yet another example of workers paying the price for corporate restructuring.

He pointed out that while mergers are inherently challenging, the human aspect of such decisions must not be overlooked. Job losses ripple through families and communities and should not be reduced to mere numbers on a spreadsheet.

Mohammed also called on regulators to ensure that labor protections are upheld during these corporate shakeups. After all, a little transparency and fairness can go a long way in restoring confidence among employees and the public alike.

As the dust settles on this disturbing development, all eyes are on Unity Bank. Will they heed the call for dialogue, or are we set for a showdown? Only time will tell.