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Workers of 5 defunct Bank put on probation despite BoG’s no job loss assurance


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The employment status of workers in the recently collapsed banks by the Bank of Ghana is in limbo as all workers have been put on probation.

This move by the Managing Director of the of 5 collapsed banks, now Consolidated Bank Ghana Limited is contrary to the Bank of Ghana’s assurance that no worker on the 5 defunct banks will lose their jobs.

Read: Safeguard jobs of staff of defunct banks – TUC to BoG

During a press conference to announce the collapse of the 5 banks, Dr. Ernest Addison, Governor of the Bank of Ghana said, “all staff of the affected banks will become staff of the Consolidated Bank, we do not expect any immediate job losses as a result of this consolidation”.

However, Staff of the defunct banks have received letters signed by the new Managing Director for CBG Limited, Daniel Addo, informing them they each had 60 days to work in the bank during which their employment statuses will be examined.

“The purpose of this letter is to inform you that you will be working with the new bank for a period of 60days during which time it will be possible for your employment status to be assessed,” the letter reads.

This outcome of these examinations, according to the letter will determine those to be retained and those to be laid off.

Read: Over 2000 workers to lose jobs following consolidation of 5 Banks – Analyst predicts

“Based on the assessment, a determination will be made as to whether you will continue to be in employment with the Consolidated Bank Ghana Limited. Kindly be reminded that you will still operate from your current work place,” they added.

Read the letter below;


The Central Bank on August 1 announced that the licenses of five banks namely;The Beige Bank, Sovereign Bank , uniBank, The Royal Bank Ghana and Construction Bank have been revoked, merging them into a single entity, The Consolidated Bank Ghana Limited.

This according to Governor of BoG, the affected banks were experiencing liquidity problems amongst others and hence the move.

‘Efforts to keep their heads above water have yielded no fruitful results, hence the reason they have been consolidated,” he said.

Source: theindependentghana.com


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