Zenith Bank is ranked as
one of the most profitable Banks in Nigeria with profits of :
N99.27Billion in 2014, 105.66 Billion in 2015 and 6 months profit of
44.67Billion in 2016.
Given
the above robust profitability, handsome global rating and the Bank’s
international recognition, one would reasonably expect the best labour
practices and welfare package for the employees who are the key profit
drivers. However, Zenith Bank is the least paying Bank in Nigeria with
myriads of anti-labour practices ranging from intimidation of staff,
forceful resignation without pay and arbitrary dismissal of workers
without due regards to their fundamental human rights.
In
August 2016,Zenith Bank slashed worker’s salaries by 30% despite
declaring huge profit of 44.67 Billion as at June 30,2016 and also
stopped some staff allowances without due consultation as labour act
2004 stipulates.
There’s
currently an air of despair and awe among staff members and their
morale is low and this may consequently affect their productivity
because according to insiders '' they feel neglected and intimidated''
by the Bank they toil day and night to move forward.
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