Nigerian financial power house, Access Bank, annunciated the closure of more than 300 of its branches nationwide in a bid cut down running costs as a result of the outbreak of the deadly virus, COVID-19.

This move comes in the wake of a statement made by the group managing director/CEO of Access Bank, Herbert Wigwe who explained the reasons behind a planned mass retrenchment of its workforce, stating that some of its branches will be closed up until December of this year.

Herald NG earlier reported that Wigwe made this disclosure via video conferencing in a town hall meeting with the bank’s staff that later leaked on social media platforms.

Wigwe noted that those to be affected by the mass retrenchment are mostly outsourced staff and workers offering nonessential services. This group makes for about 75% of the Organisation’s staff strength in its branches nationwide.


“We probably don’t need as much security as required; even to the fact that we are not gonna have all our branches open between now and December. We don’t need all the tellers.” Wigwe said in the video.

“The second has to do with our professional cost. Now that is one that is very tricky and it is tricky because I do understand and appreciate that its gonna, you know, bring its own pain to staff.

“We basically have to make the adjustments the same way you sounded when we spoke 10 days ago with respect to basically cutting down cost.

“I will be the first to take the hit and I’m gonna take the largest pay cut, which would be as much as 40 percent. The rest we would have to cascade right through the institution. Everybody may have to make some adjustments of some sort.”

Industry observers have the notion that Wigwe’s retrenchment strategy and closure of its branches affects the most vulnerable of his employees. They also believe the move will be counter-productive for many families; especially the poor if the financial records of the bank truly show it has the capacity to cushion the effect of the pandemic.

LIST OF BRANCHES TO BE SHUT DOWN

ACCESS BANK RET SHOP – OSISIOMA (001)

UMUAHIA BRANCH
15 AZIKWE ROAD
FAULKS ROAD BRANCH ABA
UMUDIKE BRANCH
ACCESS BANK, UMUAHIA, IKOT – EKPENE ROAD)
ABA, ASA ROAD
RET SHOP – UMUAHIA (039)
GIBBS STREET BRANCH
ACCESS BANK, IKOT EKPENE BRANCH
ABAK, IKOT – EKPENE ROAD
32 AKA ROAD BRANCH
UYO, BANK LAYOUT
ONITSHA BRANCH
NNEWI BRANCH
UP IWEKA and OGIDI BRANCHES
ONITSHA, SOKOTO ROAD.
ONITSHA, OGBARU ENAMEL WARE MARKET
NNEWI, OLD NKWO MARKET ROAD
ACCESS BANK, OBOSI, CITY BISCUIT ROAD
OKIJA, OLD OKIJA IHIALA OGUTA RD
BRIDGE HEAD BRANCH
AWKA, AZIKIWE STREET AND ACESS BANK, UNIZIK BRANCHES
RET SHOP-NIGER DELTA UNI. MINI(082)
GBOKO BRANCH
ZAKI IBIAM BRANCH
MAKURDI, NEW BRIDGE ROAD
RET SHOP – N/BANK MAKURDI (034)
GBOKO BRANCH
MAIDUGURI, BURGA ROAD
RET SHOP – UNIV. OF MAIDUGURI (020)
RET SHOP – SHEHU LAMINU WAY (020)
IKOM, OKIMI OSABOR STREET
CALABAR, NDIDEM USANG ISO ROAD
CALABAR, MAYNE AVENUE
ASABA, 163 NNEBISI ROAD
DECO ROAD BRANCH
UGHELLI, MARKET ROAD
RET SHOP – WARRI (005)
AGBOR BRANCH
ASABA, NNEBISI ROAD
OKPANAM ROAD BRANCH
WARRI OKUMAGBA AVENUE
ABAKALIKI, OGOJA ROAD
RET SHOP – EBONYI STATE UNIV (035)
EKENWA-BENIN BRANCH
USELU BRANCH
23 AIRPORT ROAD BRANCH
BENIN, SAPELE ROAD
BENIN, UGBOWO ROAD
BENIN, 123 BENIN-AGBOR ROAD
TEXTILE MILL ROAD BRANCH
OKADA BRANCH
IHAMA BRANCH
BENIN, MISSION ROAD
BENIN BRANCH
UNIBEN BRANCH
IJERO EKITI CASH CENTRE
AJILOSUN, ADO EKITI BRANCH
EKITI STATE UNIVERSITY BRANCH
ENUGU STATE UNIVERSITY BRANCH
AGBANI ROAD BRANCH
ENUGU,GARDEN AVENUE
ENUGU, OKPARA AVENUE
ENUGU, 9TH MILE
ENUGU, NIKE LAKE ROAD
UNN NSUKKA BRANCH
UNIVERSITY OF NIGERIA ENUGU BRANCH
OKPARA AVENUE BRANCH
WUSE 2 BRANCH
FEDERAL SECRETARIAT ABUJA BRANCH
UTAKO BRANCH
ABUJA NNPC TOWERS BRANCH
DURUMI BRANCH
DEI DEI ABUJA, BUILDING MATERIALS MARKET
NYANYA ABUJA, OPP. NYANYA SHOPPING COMPLEX
GWAGWALADA ABUJA, PARK LANE
WUSE 2 ABUJA, AMINU KANO CRESCENT
GWARINPA
ABUJA,LADOKE AKINTOLA BOLVD
LIFE CAMP ABUJA, JABI-KARMO ROAD
ADETOKUNBO ADEMOLA, ABUJA BRANCH
NATIONAL ASSEMBLY BRANCH
GARKI BRANCH
BANK OF INDUSTRY (BOI),ABUJA
GARKI AREA 11 BRANCH
NASDA BRANCH
DEI DEI BRANCH
FED MIN OF JUSTICE BRANCH
FEDERAL MORTGAGE BANK BRANCH
GARKI ABUJA, CENTRAL BUSINESS AREA
HERBERT MACAULAY, ABUJA BRANCH
RET SHOP -FED. SECRETARIAT ABJ(061)
ZONE 5 ABUJA, MICHAEL OKPARA STREET
RET SHOP- SAVANNAH SUITES, ABJ(013)
RET SHOP -AREA 1 COMPLEX ABUJA(077)
GOMBE, BIU RD.
BANK ROAD OWERRI BRANCH
NEKEDE BRANCH
OWERRI, ORLU ROAD
MBAISE, AHIARA JUNCTION MBAISE
RET SHOP – FUTO (017)
OWERRI, DOUGLAS ROAD
OKIGWE, WESLEY QUARTERS OKIGWE RD
RET SHOP – NAZE MARKET (090)
RET SHOP – IMO STATE SECTARIAT(090)
HADEJIA BRANCH
KADUNA BRANCH
A2 AHMADU BELLO WAY BRANCH
UNGWAN RIMI BRANCH
NNPC REFINERY KADUNA BRANCH
GUMI MAIN MARKET
JAJI, COMMAND AND STAFF COLLEGE
ALI AKILU ROAD BRANCH
ZARIA BRANCH
KACHIA ROAD KADUNA
KADUNA, ISA KAITA ROAD
RET SHOP – ZARIA (127)
ANCHAU BRANCH
KANO BRANCH
BELLO ROAD BRANCH KANO
KATIN KWARI BRANCH
BAYERO UNIVERSITY BRANCH
RET SHOP – DAWANUA, KANO (058)
BICHI BRANCH
AMINU KANO TEACHING HOSPITAL BRANCH
KANO, FRANCE ROAD, SABON GARI
RET SHOP – BAYERO UNI. KANO (007)
KATSINA, NAGODO ROAD
KATSINA BRANCH
KAFUR BRANCH
DANJA BRANCH
BIRNIN KEBBI, SANI ABACHA ROAD
OBAJANA CASH CENTRE
LOKOJA, MURTALA MUHAMMED WAY
FOLAWIYO STREET BRANCH
ILORIN, IBRAHIM TAIWO ROAD
KWARA STATE POLYTECHNIC
IBEJU LEKKI
VICTORIA ISLAND BRANCH
IDEJO BRANCH
IKOTA BRANCH
LEKKI CHEVRON BRANCH
AJOSE ADEOGUN BRANCH
IKOYI, AWOLOWO ROAD
AJAH, LEKKI – EPE EXPRESSWAY
AJAH, ADDO ROAD
LEKKI PHASE I, ADMIRALTY WAY
RET SHOP – IKOTA, VGC LAGOS (095)
LAGOS ISLAND, KING GEORGE V BRANCH
BROAD STREET 2 BRANCH
BBA LAGOS, ATIKU ABUBAKAR PLAZA
TRADE FAIR COMPLEX, ASPAMDA, HALL 2
ALABA, DENSINE PLAZA OLOJO DRIVE
ALABA INTERNATIONAL, DOBBILL PLAZA AVENUE
MAZA MAZA BRANCH
ALABA INTERNATIONAL, OLD GARAGE
OLD OJO BRANCH
LIGALI AYORINDE
ADEYEMO ALAKIJA BRANCH
ADEOLA ODEKU BRANCH
ADEOLA HOPEWELL BRANCH
AWOLOWO ROAD 2 BRANCH
SAKA TINUBU BRANCH
RET SHOP – PALMS MALL, LAGOS (026)
BURMA ROAD APAPA BRANCH
BROAD STREET BRANCH
CREEK ROAD APAPA BRANCH
TINCAN ISLAND BRANCH
APONGBON BRANCH
IBAFON BRANCH
POINT ROAD BRANCH
MARINA BOI BRANCH
48 MARINA BRANCH
LAGOS ISLAND, MARINA
LAGOS ISLAND, BALOGUN STREET
APAPA, LIVERPOOL ROAD
APAPA, BURMA ROAD
TRADE FAIR BRANCH
ASPAMDA BRANCH
FESTAC 2 BRANCH
AGUDOSI BRANCH
MAZA MAZA, OLD OJO ROAD
RET SHOP – SATELLITE TOWN (028)
OLD ALABA MOTOR PARK
OJUELEGBA BRANCH
GBAGADA, GBAGADA EXPRESSWAY
IDI-ARABA BRANCH
LAWANSON/ITIRE RD BRANCH
RET SHOP – ALUMINUM VILLAGE (011)
RET SHOP – IYANA IPAJA (110)
TOYIN STREET BRANCH
IKEJA, 60 OPEBI ROAD
MARYLAND,MOBOLAJI BANK ANTHONY WAY
RET SHOP – ISHERI, BERGER)
IDDO BRANCH
KOSOKO STREET BRCH
NNAMDI AZIKWE STREET IDUMOTA BRANCH
OYINGBO BRANCH
LAGOS ISLAND, OKE ARIN
YABA, HERBERT MACAULAY ROAD BRANCH
SURULERE, ENITAN STREET AGUDA
RET SHOP – JANKARA , LAGOS ISD(002)
RET SHOP – OGUNLANA DRIVE (051)
RET SHOP – BARIGA AKOKA (087)
LASU CAMPUS BRANCH
AMUWO ODOFIN BRANCH
SEME BORDER, BADAGRY EXPRESS WAY
FESTAC TOWN, SECOND AVENUE
COKER, LAGOS/BADAGRY EXPRESSWAY
TRADE FAIR COMPLEX, ASPAMDA OFFICE BLOCK 2
BBA LAGOS, BANK PLAZA
PALM AVENUE BRANCH
ILUPEJU BRANCH
MATORI BRANCH
IKORODU 2 BRANCH
TEJUOSHO BRANCH
ILUPEJU 2 BRANCH
GBAGADA BRANCH
OJOTA BRANCH
ODOGUNYAN BRANCH
OSHODI BRANCH
MATORI, LADIPO STREET
OJUELEGBA, SHIFAWU STREET
OSHODI, OSHODI-APAPA EXPRESSWAY
RET SHOP – TEJUOSHO MKT, LAG (050)
RET SHOP – KETU (088)
RET SHOP – DALEKO (099)
RET SHOP – OJUWOYE MARKET (099)
OSOLO WAY BRANCH
NAHCO BRANCH
EGBEDA BRANCH
EJIGBO BRANCH
IJU BRANCH
DOPEMU BRANCH
IYANA IPAJA, LAGOS ABEOKUTA EXPRESS WAY
ISOLO, MUSHIN ROAD
IDIMU, IDIMU ROAD IKOTUN
OKOTA, 56 AGO PALACE WAY
AKOWONJO, SHASHA ROAD
MAFOLUKU, INTL AIRPORT ROAD
RET SHOP – OKOTA, ISOLO LAGOS (004)
ADENIYI JONES IKEJA BRANCH
OJODU BERGER BRANCH
OPEBI BRANCH
IKEJA, AWOLOWO WAY
OREGUN BRANCH
IKEJA, LADIPO OLUWOLE STREET
OGBA, IJAIYE ROAD
ALAUSA BRANCH
OREGUN, ZIATECH ROAD OREGUN
IKEJA GRA, JOEL OGUNNAIKE STREET
MAGODO, CMD ROAD IKOSI
RET SHOP – IFAKO AGEGE (080)
RET SHOP – IFAKO GBAGADA (087)
IDUMOTA BRANCH
OGUNLANA DRIVE BRANCH
67 ST FINBARRS RD-BARIGA
IJESHATEDO BRANCH
UNIVERSITY OF LAGOS BRANCH
SABO YABA BRANCH
ADENIJI ADELE BRANCH
EBUTE METTA BRANCH
EBUTE METTA, MARKET STREET OYINGBO
APONGBON, ISSA WILLIAMS/OFFIN RD
RET SHOP – IDDO, EBUTE METTA)
ARTICLE MARKET BRANCH
RET SHOP-NASS. STATE UNI.KEFFI(073)
LAFIA, DOMA ROAD
KEFFI, ABUBAKAR BURGA STREET
MINNA, PAIKO ROAD
SULEJA DEPOT CASH CENTRE
MINNA 2 BRANCH
SULEJA, IBB MARKET
OOU BRANCH
ABEOKUTA, UACN COMPLEX IBARA
SAGAMU, AKARIGBO STREET
IJEBU ODE, 35 IBADAN ROAD
COVENANT BRANCH
RCCG CAMP BRANCH
OKE ILEWO BRANCH
ILARO BRANCH
OTTA, OTTA INDUSTRIAL LAYOUT
OWODE YEWA MARKET BRANCH
IDI IROKO BORDER BRANCH
OTTA, IDIROKO ROAD
RET SHOP – BABCOCK UNIVERSITY (137)
AKURE BRANCH
ADEKUNLE AJASIN UNIVERSITY CAMPUS BRANCH
AKURE, OYEMEKUN STREET
ONDO, YABA ROAD
ADEYEMI COLLEGE OF EDUCATION
IREE BRANCH
ILESHA, ITA BALOGUN STREET
ILE IFE BRANCH
IPETU IJESHA BRANCH
OAU ILE IFE BRANCH
REDEEMER UNIVERSITY EDE BRANCH
SAKI BRANCH
APOMU BRANCH
LAUTECH BRANCH
BODIJA BRANCH 2
IWO ROAD 2 BRANCH
UCH IBADAN BRANCH
IBADAN, OKE – ADO
IBADAN, AGODI UCH SECOND GATE
OYO BRANCH
OJOO BRANCH
OGBOMOSO BRANCH
OGBOMOSHO, ILORIN ROAD
BODIJA BRANCH 1
NEW COURT ROAD BRANCH
EKOTEDO BRANCH IBADAN
JOS BRANCH
JOS, COMMERCIAL AREA
JOS, CLUB ROAD
RET SHOP – KATAKO (015)
BUKURU BRANCH
RET SHOP – UNIVERSITY OF JOS (055)
IKOKWU BRANCH
RET SHOP – OLD ABA ROAD, PH (086)
BONNY CASH CENTRE
ELEME BRANCH
EASTERN BULKCEMENT BRANCH
PH, TRANS AMADI
PH, FOT ONNE
OBIGBO PH, LOCATION ROAD
RET SHOP – ODUA ROAD, PHC (003)
BORI BRANCH
UNIPORT BRANCH
RSUST BRANCH
PH, 50 IKWERRE ROAD
PLOT105 OLU OBASANJO PH BRANCH
GARRISON BRANCH
GADA MARKET BRANCH
USMAN DANFODIO UNIVERSITY BRANCH
SOKOTO, MAIDUGURI ROAD
GUSAU, CANTEEN ROAD

https://www.google.com/amp/s/www.herald.ng/access-bank-shuts-down-346-branches-nationwide-to-cut-down-cost-due-to-coronavirus/amp/

Ehem!! Ladies and Gents. What can I say, we Live in really uncertain and unprecedented times.

Stay Tuned as more companies Begin to Downsize in the coming Days/Weeks. As usual contract staffs are usually the Scape goats.



#THEREVOLUTIONWILLNOTBETELEVISED!

Real madness the money contributed to convid would have used to cushion the people that will lost their jobs


What happened to the profits made in year in year out

Nigerias economy is spiralling down so quickly

Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

This bank is just useless.

They just want our cash to continue losing value in their deposit.

This is the result, when a small bank acquired a bigger and one of the most capitalized banks in Africa due to Devilish Sanusi 's policy. Intercontinental bank comes to the picture.

Nigerian banks are too fragile. They can hardly survive any downturn in the economy without massively laying off staff.

Some of these banks also bite more than they can chew. What Access bank is going through now reminds me of my little stint with BankPHB.

BankPHB acquired spring bank late 2008 in a very hostile manner. Billions of depositors funds was committed into the acquition. By March 2009, the bank was already distressed and laying off staff. The hostile nature of the takeover also made it impossible for the quick integration of the operations of the banks. There was also the effect of the global meltdown and crash of the stock exchange market that year.

By the Sanusi came in as CBN Governor around June, the bank was already a mess. He did not bother to romance the problem, he simply killed the bank and other banks that were then struggling to survive the global meltdown and crash of the stock exchange market by late 2009.

Hopefully, Access bank won’t go the way of BankPHB.

This is serious and saddening.

There has to be something else behind this aside Covid-19.

I sympathize with the bread winners whose sources of livelihood is about to be taken away.

Uhmmm it's expected. Things can't be like it used to be before Covid-19 not until maybe a vaccine is found...we have to adjust to the new life fast...God will see us through.

GamalNasser:
Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

U av a valid point

It's too much... May God save the workers, and all of us

I can imagine what will be running through the minds of those affected.

After staying home for almost 5 weeks, then you start a new month with being fired.

I wish them all the best and hope better things come their way

How many branches would still be open if they close down this number of branches? Would have to transfer the small change I have there before stories that touches happen

Shutting down most of the branches in Alaba international means you will loose more customers.

The plot thickens...

Sarrki who you want make im read all those branches

softset:
I can imagine what will be running through the minds of those affected.

After staying home for almost 5 weeks, then you start a new month with being fired.

I wish them all the best and hope better things come their way

Deep

On point

Heaven will open doors no man can shut for everyone passing through economic hardship now

What more can I say? Lol

The way people go take move their money from this bank ehn, e go be like say dem less caterpillar tyre.

All had not been well for sure.

Na Covid wan carry the blame now.

I wonder why dem come dey form Covid 19 terminator for CNN advertorial plus the huge donations wey dem give.

Confusing shit.

This suffer is not limited to Nigerian banks. Europe's banks are suffering too and the only thing saving American bank is plastering by the Fed, though that can't last forever.

These are mostly Intercontinental Bank branches and few Diamond Banks ...

This is bad

GamalNasser:
Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

Exactly my thought as well!

Is this indirect shut down of Diamond branches?
What will happen to the workers?

One thing I admired about Diamond bank was their staff strength, the bank fed a lot of families

Its a pity they have been left to the mercy of Herbert Wigwe. I guess they should have been more prudent.

GamalNasser:
Hmmm just yesterday I was saying to a friend that I suspect they will close a diamond bank in my estate and I was right , looks they are closing diamond bank branches in areas where they already had Access branches , Methinks Herbert Wigwe is just using COVID crunch as an excuse to ditch Diamond bank staff he inherited in the acquisition

This is not entirely true .
I could see an Ibadan branch in the list that was never Diamond .

Naso

This moment go affect many things..

Eateries and restaurant would need to start home delivery ASAP if they no wan go solo!

Let me go qnd transfer all my money from access bank to GTB

Chai.....in dx life...no dey do pass urself.

Others donated ....so they followed suit and at the end of the day...Their workers are to be whipped out from the office.

All dx donations wey Dem give FG...e be like say all of Dem don enter voicemail ooh

e don shele