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Business & Finance

Dwindling Economy: First City Monument Bank Shuts Down Some Branches And Sacks Staff

FCMB
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First City Monument Bank Limited (FCMB) has closed down some of its branches and sacked staff of those branches, an exclusive report has revealed.
According to an exclusive report on The Tribune, popular full service banking group, headquartered in Lagos, the First City Monument Bank Limited (FCMB), has closed down some of its branches and sacked staff of those branches, adding that the branches affected were those formerly owned by FinBank, which was acquired by the bank.
It was gathered that the management of the bank resolved to rationalize some redundant and unviable branches of the acquired bank, especially where there were two or three branches in the same area because of the current state of the economy.
 A source who disclosed to the publication, said while some staff members of those branches were seconded to other branches, majority were relieved of their duties, adding that many of those who got the sack were those with issues.
All calls to officials of the bank were not responded to as at the time of filing this report.
This is a developing story, we’ll be bringing you more updates as soon as its made available.

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