BREAKING: Union Issues Stern Warning And Ultimatum As Unity Bank Sacks Over 100 Staff
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has issued an ultimatum to the management of Unity Bank Plc, requesting the recall of over 100 staff whose appointments were allegedly terminated few days ago.
Sources within the bank confirmed that the terminations were carried out on January 1, 2026, following a directive from the management, instructing the Human Resources Department to issue termination letters to the affected staff and deactivate their access to official work systems.
ASSBIFI described the action as a violation of due process, stating that it caused distress among the affected employees.
The union also recalled that the bank had previously reached an agreement with staff unions that no employee would be disengaged as a result of the merger between Unity Bank Plc and Providus Bank Plc without consultation and adherence to established procedures.
The affected employees have alleged wrongful termination, lack of consultation, and non-compliance with the Nigerian Labour Act and provisions of the merger agreement.
On January 2, 2026, ASSBIFI wrote to the Managing Director/Chief Executive Officer of bank in a letter signed by its Acting President, Nike Joseph, requesting the immediate reversal of the termination of 42 staff members already identified by the union.
The letter warned that failure to comply could result in industrial action.
According to ASSBIFI, an ultimatum has been issued for the matter to be resolved by January 8, 2026 to avoid further action.
Commenting on the development, Comrade Basah Mohammed, a civil society practitioner and public affairs analyst, said the situation reflected challenges that often accompany corporate restructuring and mergers, where workers are sometimes adversely affected.
Mohammed asserted: “No one is pretending that mergers do not come with hard decisions. They do. But people matter, and how those decisions are taken matter even more. If there was an understanding that staff would not be disengaged without consultation, then breaking that understanding is not just a procedural issue. It is a trust issue.
“For many of these workers, this is not just a job loss on paper. It is rent, school fees, family responsibilities, and years of service suddenly reduced to a termination letter. That human cost should never be an afterthought, especially in a rescue merger that was meant to stabilise confidence, not deepen anxiety.
“This is also where regulators must be firm. Saving a bank should not mean weakening labour protections or ignoring agreed processes. Transparency, dialogue, and fairness are not luxuries. They are what keep institutions credible.
“At this point, escalation helps no one. The bank, the union, and regulators need to sit down, revisit what was agreed, and resolve this with empathy and honesty. Strong institutions are built when people feel respected, not discarded.”
