National Investment Bank terminates the appointment of all contract staff

In a letter of termination addressed to the affected staff, a part read that the “management has decided to terminate your contract on June 30, 2019.”

The letter also indicated that the affected staff must hand over “their Staff ID, Friday wear and other corporate accessories” to management and proceed on a terminal Seven days leave on or before June 21, 2019.

According to the contract staff, this is contrary to what they had been told earlier by the management.

The contract staff had been informed that their contracts will not be renewed when it expires. Most of the affected staff were expected to leave in October and November 2019.

However, one of the affected workers who spoke to Accra-based Starr FM said that they were suddenly informed on Monday (June 10, 2019) that management has decided to terminate their contracts at the end of June.

Confirming the news, a senior management member who spoke to Starr FM on condition of anonymity, said the decision is to help restructure the operations of the bank and make it more profitable.

This is coming few months after the Bank of Ghana named the immediate past Country Senior Partner of PricewaterhouseCoopers, Ghana, Mr. Felix E. Addo as Advisor for National Investment Bank (NIB).

In May 2019, the Bank of Ghana also appointed Mr. Samuel Sarpong as Managing Director of the Bank.