• Car Loan
• Controversy
• First Bank

FIRST BANK EMPLOYEES UNDER FIRE OVER CAR LOAN CONTROVERSY

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  CapitalTimesNews / 2 weeks
• 0
• 2 min read

A high-stakes controversy is unfolding at First Bank Nigeria, with over 2,000 employees embroiled in a disciplinary probe over car loans. The bank’s management has launched a wide-scale investigation into staff members who availed themselves of the car loan facility, a benefit that has been in place for years. The trouble began when 17 employees were abruptly dismissed for allegedly breaching the bank’s car loan policies. However, it emerged that the practices in question were widespread among staff, prompting the bank to expand its probe. Now, thousands of employees are facing potential disciplinary action, including dismissal. Affected staff members claim they followed established procedures when taking out car loans and purchasing vehicles. “I’ve done everything by the book,” said one employee. “I’ve taken out a loan, bought a car, and submitted all the necessary paperwork. Now, they’re saying the receipt wasn’t in my name or the bank’s. When did that become a sackable offense?” Some employees suspect ulterior motives behind the crackdown. “There’s more to this than meets the eye,” said another staff member. “Are we being punished for taking out car loans, or is this a smokescreen for something else?” Concerns have also been raised about possible regional bias in the bank’s actions. Several sources claim that most of the affected employees are from Northern Nigeria, sparking questions about fairness and inclusivity in the bank’s management. The controversy has sparked fears of a morale-killing witch-hunt, with potentially far-reaching consequences for the bank’s reputation and stability. “You can’t treat 2,000 employees like this and expect them to stay motivated and loyal,” a senior staff member warned. As the situation continues to unfold, employees are calling for intervention from the bank’s leadership, regulators, and other stakeholders. “We’ve given our all to this institution for years,” said one affected employee. “We shouldn’t be treated like criminals for following established procedures.”