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Skye Bank pays ex Co-operative Bank staff N350m

In line with its welfarist and employee-friendly disposition, Skye Bank Plc is to pay the disengaged staff members of the defunct Co-operative Bank Plc the sum of N350 million as their full and final emoluments.

Although the bank had paid-off the disengaged staff in the past, it took the decision to pay them the sum of N350 million because of its unabating interest in their welfare and continued wellbeing recently.

Addressing the press in Ibadan, the Chairman of the former staff of C-operative Bank Plc, Mr. Adesanya, said the association and Skye Bank had reached an agreement on the payment of the N350 million as the full and final payment in respect of their outstanding emoluments.

Adesanya said Skye Bank had paved the way for members of his association to meaningfully engage themselves in very legitimate and productive ventures with the money, saying they now have a new lease of life.

It was gathered that the money may be paid anytime from now as all arrangements had been concluded. It was further learnt that the cheque is ready for collection by officials of the association.

It would be recalled that Co-operative Bank and four other banks merged in 2005 to form Skye Bank during the consolidation exercise of 2004/2005 carried out by the Central Bank of Nigeria (CBN) under the leadership of Prof. Chukwuma Soludo.

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