***As skirmish takes shine off merger with Providus Bank
The merger between Unity Bank and Providus Bank is being overshadowed by a ongoing face-off between the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) and the management of Unity Bank, led by its Managing Director, Ebenezer Kolawole.
The dispute began on January 1, 2026, when Unity Bank terminated the appointments of over 100 members of staff, sparking outrage within the banking sector and beyond.
Ebenezer Kolawole, Managing Director/ Chief Executive Officer of Unity Bank
According to reports monitored online, the bank’s management instructed its Human Resources Department (HRD) to issue termination letters to the affected employees and immediately deactivate their access to official work systems.
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The affected staff have accused the bank’s management of wrongful termination, alleging that the action was taken without consultation, valid justification, or adherence to due process. They further claimed that the sackings contravened provisions of the Nigerian Labour Act as well as the merger agreement between Unity Bank Plc and Providus Bank Plc.
Civil servants in Ogun protesting at a Unity Bank branch over an alleged diversion of their N134million investment fund in 2021
Since news of the terminations broke, many Nigerians have questioned the rationale behind the New Year layoffs, particularly given earlier assurances that no staff would be disengaged as a result of the merger. The decision has drawn criticism, with observers describing it as ill-timed and insensitive.
The development has reportedly dented the bank’s public image, prompting ASSBIFI to issue an ultimatum to Unity Bank Plc, demanding the recall of the affected staff on or before January 8, 2026.
In a statement, ASSBIFI described the mass termination as a violation of due process, noting that it has caused widespread distress among the affected employees and their families.
On January 2, 2026, the union formally wrote to the Managing Director and Chief Executive Officer of Unity Bank in a letter signed by its Acting President, Nike Joseph. The letter demanded the immediate reversal of the termination of 42 staff members already identified by the union and warned that failure to comply could result in industrial action.
ASSBIFI also called for the withdrawal of all termination letters and requested an urgent meeting with the bank’s management to resolve the matter amicably.
As of the time of filing this report, Unity Bank had yet to issue an official response to the union’s allegations.
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