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Home » Trending » Business » Diamond Bank In Multiple Scandal-Liquidity Squeeze, MDs’ Messy Loans, 400 For Sack, Panic Withrawal Looms.

Diamond Bank In Multiple Scandal-Liquidity Squeeze, MDs’ Messy Loans, 400 For Sack, Panic Withrawal Looms.

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As N818,000 fraudulently vanished from a customer’s account in a day at Diamond Bank with attendant trouble, the banks’ head office at Adeola Hopewell, Lagos was picketed by Labour…. And more messy details have been uncovered.

Indications emerged on recently that Diamond Bank Plc had embarked on an aggressive downsizing of its workforce.

Our correspondent gathered from some of the affected workers that not less than 400 members of the workforce from all the branches across the country were directed to resign their appointments with the bank.

Diamond Bank was among the five banks adjudged healthy by the Central Bank of Nigeria in its examination carried out in August.

According to the source, the top management of the bank directed the branch managers to forward the names of at least three people they could no longer work with to the headquarters of the bank for the exercise.

The source added that the management who refused to forward the names within the stipulated period.

The source said, “The thing came to me as a shock. We were actually asked to resign. I am a marketer, I usually go out for marketing. I came back on Thursday last week around and saw a mail in my box that I should get in touch with the human resources department. It was there they asked me to resign. I was shocked. Three of us were affected in my branch.

“The exercise started on Wednesday 10th July, 2013. They started with the Apapa region, we did not know that it would get to Victoria Island region.”

Reacting to the development, a spokeperson for the bank who did not wish to be identified said he was not aware of such development as the bank was neither downsizing nor rightsizing.

He said, ”I am just leaving the head office now, and there is nothing like that to my knowledge. Diamond Bank is not downsizing and it is not rightsizing as well. I do not believe it is true because I am just leaving the office.”

At least nine out of the 24 Nigerian banks have been under pressure in recent time following the CBN’s reforms.

A recent examination carried out by the CBN revealed a high level of poor corporate governance on the part of some of the CEOs who granted loans indiscriminately leading to liquidity squeeze in the banks.

When contacted, Friday Atufe of TPT an Agency  representing Diamond Bank said, “Third party support personnel posted to Diamond Bank have recently had challenges with their Employer –C & M Exchange. As these issues are yet to be resolved, the third party personnel would like Diamond to intercede to resolve the differences.

Diamond Bank remains concerned about the working conditions and welfare of its entire staff, both contractual and full time.
As such, we are currently discussing intensely with C & M Exchange to ensure they resolve the issues with their employees in a swift and amicable manner.
Please be assured that normal banking operations continue at our locations nationwide.”
In defence of 400 Staff to be sacked and labours piketting of the bank, an officer said:

Diamond Bank has recently concluded its Annual Performance Review exercise. This is in line with global best practices where companies or institutions intermittently review their human resource talent as a means of achieving their corporate growth agenda.

According to Mrs. Ayona Trimnell, Head, Corporate Communications, Diamond Bank PLC, “The recent performance review is an annual exercise for us in Diamond as we seek to continuously recognize and reward members of staff who have excelled. We believe that a Bank’s performance is linked to the quality of the staff it retains. As such, we have promoted over 650 staff members who have excelled in their performance as well as disengage 61 members of staff who performed poorly in the last financial year.”

The statement also indicated that the performance review exercise is hinged on the Bank’s Enterprise Assessment Framework called the Balanced Score Card. The framework spells out carefully itemized parameters with which members of staff are measured and these parameters are communicated to staff at various points in the year under review. The framework equally stipulates the parameters for disengagement for underperforming staff.

Diamond Bank boasts of a robust personnel engagement strategy that helps it to continually attract and retain the best talents in the Nigerian Banking industry. This is in fulfillment of its corporate vision of becoming a leading financial institution, with the best people, providing unequalled customer experience and delivering superior shareholder value.




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