Ecobank Shuts Down 74 Branches

Ecobank Nigeria has announced that 74 of its branches have been merged. It said staff from the merged branches would be deployed to other projects. Managing Director of the bank, Charles Kie, said the bank hoped to shift its activities to digital channels and improve customers’ experience at reduced cost.

This, he said, also supports the bank’s financial inclusion strategy and the cashless policy of the Central Bank of Nigeria.

Kie said, “After a detailed analysis of the physical network of branches needed to serve our customers, the decision was made by the Ecobank Nigeria board, and approved by the Central Bank of Nigeria, to optimise 74 out of its 479 branches.”

The statement failed to touch on Thursday’s reports that the bank had terminated the appointment of about 50 top personnel staff.



“We are deploying staff and other resources from the merged branches to other ongoing projects, while also strengthening the existing branches to make them more resourceful and up to speed in their daily activities,” he added.