For one of the newest entrants into the Nigeria’s banking industry, it has become a case of one trouble to many for Sterling Bank as the financial institution continues to swim in the sea of controversies amidst financial improprieties and workers remuneration. And as it stands, the bank is fast proving to be L’Enfant terrible in the Nigeria banking sector, as its name constantly props up in every underhand dealing featuring some Nigerian financial institutions.
Whoever believes that the bank is mightier than the storm should ask the management and staff of Sterling Bank. They probably know better. As you read, Sterling Bank is caught in the turbulence of steep and unforgiving commerce.
The hard times have indeed dawned on the commercial bank. Some members of staff of the bank have lost their jobs. The affected workers had their sack letters handed over to them precisely on Friday, April 21st April, 2017.
A visit to the bank’s new head office revealed a lot, as most staff walked about like they were under a cloud of doom with brows furrowed in deep worry. Who is next? That seems to be the question on the lips of everybody.
Some aggrieved staff of the financial institution that spoke to us threatens to reveal more skeletons in the banks closet.
Unless something drastic happens to salvage the situation, Sterling Bank may run into serious financial crises that may render it unable to meet its obligations as a deposit money bank.
This medium also learnt, large number of customers of the bank are in panic as they planning to storm various branches of the bank base on this worrying situation and withdraw their monies, as they believe is just a matter of days before CBN finally wave their axe.
However, in the last few months, many top banks have thrown thousands of their employees into the labour market for reasons ranging from insolvency and paucity of funds. Some of the banks laid the blame at the doorsteps of the employees citing lateness, dereliction of duties, absence and other workplace behaviours identified as unproductive to the course of the companies.

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