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General News of Tuesday, 4 September 2018

Source: thepublisheronline.com

Consolidated Bank sacks over 2,000 security men

More than two thousand security men of the 5 collapsed banks have been sacked in the latest upheaval that has hit the banking sector.

The security men who were under ACS Security Services Limited were sacked last Friday, August 31, 2018 after managers of Consolidated Bank Limited revoked the contract of the security company.

Our checks reveal that in the case of the defunct Beige Bank, ACS Security Services Limited deployed 4 security guards to each of the over 90 branches with two operating in the day and the others for night and swap simultaneously.

Reports indicate security guards who work with branches of the four other collapsed banks including Unibank, Sovereign, Construction and Royal Banks have equally been fired in a similar fashion.

A document by Consolidated Bank Ghana Limited and sighted by The Publisher revealed that Vizico Security Company Limited has now been engaged for that same purpose

The letter in part reads “this bank has engaged Vizico Security Company Limited to replace ACS Security, ACS guards. Kindly ensure a smooth handing over/transition before you close for the day.”

The Bank of Ghana recently fused uniBank together with Sovereign Bank, The Royal Bank, The Beige Bank and The Construction Bank to form a totally new local bank called Consolidated Bank Ghana Limited.

The fusion of the five banks follows the takeover of two other local banks: UT Bank and Capital Bank by GCB Bank in August 2017 with the blessing of the regulator after it emerged that they were in dire straits.



In total, seven local banks have gone under, as the Bank of Ghana’s 31 December 2018 deadline for all universal banks to recapitalise from the GHS120 million to GHS400 million draws closer.