ASSBIFI issues ultimatum to Unity Bank over termination of over 100 staff

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has demanded that Unity Bank Plc immediately reinstate more than 100 employees whose appointments were reportedly terminated earlier this month, giving the bank until January 8, 2026, to resolve the matter.

Sources within Unity Bank confirmed that the terminations were executed on January 1, 2026, following a directive from management instructing the Human Resources Department to issue termination letters and deactivate the affected employees’ access to official systems.

ASSBIFI described the move as a violation of due process and a source of distress for the impacted staff.

The union noted that the bank had previously reached an agreement with employee representatives that no staff would be disengaged as a result of the merger between Unity Bank Plc and Providus Bank Plc without proper 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.

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On January 2, 2026, ASSBIFI wrote to the Managing Director/CEO of Unity Bank in a letter signed by its Acting President, Nike Joseph, demanding the immediate reinstatement of 42 staff members specifically identified by the union. The letter warned that failure to comply could trigger industrial action.

Commenting on the situation, civil society practitioner and public affairs analyst Comrade Basah Mohammed described the incident as indicative of the challenges that often accompany corporate restructuring and mergers, which can adversely affect workers.

“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.

Breaking an understanding that staff would not be disengaged without consultation is not just a procedural issue—it is a trust issue,” Mohammed said.

He further noted the human impact of such terminations, adding: “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 meant to stabilise confidence, not deepen anxiety.”

Mohammed urged regulators, the bank, and the union to engage in transparent dialogue to resolve the matter, stressing that “strong institutions are built when people feel respected, not discarded.”

As the January 8 deadline approaches, attention is now on whether Unity Bank will reverse the terminations or face potential industrial action from its senior staff.