Investigations reveal that the bank has been heading southwards going by all industry standard performance indicators ever since the current Managing Director/Chief executive Officer - Mr Uzoma Dozie took over management of the lender about three years ago.
In a bid to reduce operational costs by all means due to the effects of the current economic recession, the bank adopted a new operational structure early last year (2016) resulting in the need for a reduced workforce. In implementing this, the bank opted for an unlawful means of retrenchment, deciding to yank off over 300 staff from various grades, even against the advise of the Honorable Minister of Labour.
In a bid to reduce operational costs by all means due to the effects of the current economic recession, the bank adopted a new operational structure early last year (2016) resulting in the need for a reduced workforce. In implementing this, the bank opted for an unlawful means of retrenchment, deciding to yank off over 300 staff from various grades, even against the advise of the Honorable Minister of Labour.
The affected staff were neither paid severance nor redundancy benefits, despite the fact that other banks who carried out similar exercises in the same year paid their affected staff severance/redundancy benefits. The affected staff have now decided and gone ahead to institute legal action against diamond bank at the National Industrial Court of Nigeria, Jos division.
Hearing of the case has been fixed for the 4th of April 2017. It is really worrisome seeing a bank that appears to hold integrity in high esteem flagrantly disregard labour laws in carrying out such exercise in a most wicked manner. Hopefully, the outcome of this case will make organizations operating in the country who hire and fire at will without recourse to the extant labour laws of the land to start acting responsibly.
Hearing of the case has been fixed for the 4th of April 2017. It is really worrisome seeing a bank that appears to hold integrity in high esteem flagrantly disregard labour laws in carrying out such exercise in a most wicked manner. Hopefully, the outcome of this case will make organizations operating in the country who hire and fire at will without recourse to the extant labour laws of the land to start acting responsibly.
This is frustrating, honestly
ReplyDeleteGood for them, me wey don praise Diamond bank like wetin before but they come disappoint me, withdrawing my money anyhow they like without any explanations. Anyways sha na their loss as I don empty the account now
ReplyDeleteGood on them for standing up for justice
DeleteHmmmm....
ReplyDeleteDiamond bank is a worthless bank full of thieves. that's how my 20k flew outta my account without trace since January 10th...they've been reviewing the complaint since 17th January,till today it's been one excuse after another...
ReplyDeletena me and una on Monday!
ikpa Abasi afiop mbufo!
Sue them na. For 5M or more. For stressing you lmao
DeleteGuess its time for banks to take a cue from this act
ReplyDeleteDiamond Bank, Your bank.
ReplyDeleteNa wa for this bank ooo. Why must they wait for this before doing something????.This is bad
ReplyDeleteDiamond bank, a distressed bank with stupid set of staffs...the fraudulent bank, the bank has the highest rate of fraud in the financial sector... Useless Bank..with zero profit
ReplyDeleteEver since Uzoma Dozie took over, things have changed for the worst. He lacked the maturity and discipline to handle such a position but he is a "Dozie". When he eventually runs it to the ground, they will take a cue. Someone in that kind of position should be selfless but Uzoma is proud and arrogant. May God intervene.
DeleteWhen d mgt of d bank think its there personal biz and the can run it anyhow, that is what u get. #Amatures can run a bank
ReplyDeleteIt is very saddening that a bank would sack staff members who have spent years even up to a decade with them and not provide cushioning for them.the management is really encouraging fraud as the present staff members now know that they can be discarded any moment. Diamond, please pay ur loyal staff who cant even feed their families now simply because they served u.
ReplyDeletea.k.a EDWIN CHINEDU AZUBUKO said...
ReplyDelete.
No bank like first bank shah...
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***CURRENTLY IN JUPITER***
Diamond mumu stupid useless bank. Una go soon fold. Thieves!!!
ReplyDeleteI gave my all to that bank. Under the sun and in the rain, I was there. At a point, even Saturdays and Sundays were not left out. They never paid me overtime.
ReplyDeleteThen I was disengaged simply because my BM disliked and donated me for sack meanwhile they know how to cover the asses of their favourites from sack.
And it's not like these favourites are the performers. Just favoritism.
Thank you, that's how they all are. Same thing with that Staco Insurance. Lay people of with no reason and without pay too. Rubbish bunch
DeleteThis is a bank that Zenith Bank set out to be like in the 90s. Look at where good governance and right vision has kept Zenith today and see where Diamond Bank has been degraded to. I blame the founder of the bank for allowing his son to rubbish all he and good team suffered to build. The Diamond bank staff of then used to be the toast of other bankers. They were envied, they were highly trained and knowledgeable, they were professionals. Absolute Monarchical tendencies of the mgt have killed all these in them currently.
ReplyDeleteAnother company that will soon be taken to industrial court is IGI insurance. They have also refused to pay laid off workers their severance benefits. Their days are numbered....
ReplyDeleteChai Daemon bank. Monkey dey work, Baboon dey chop! Nawa o
ReplyDeleteSomeone definitely hates Uzoma cos the finger is being pointed at him directly (see the reference to when he took over 3 yrs ago) but it looks to me that their problem even started before he took over. It also looks like the board is not performing well. It doesn't look like they are objective in their dealings.
ReplyDeleteThis is terribly bad. No job security in Nigeria.
ReplyDelete