Findings by Trail Reporters show that the last may not have been heard of the internal crisis rocking Zenith Bank, as details of alleged fraud in the bank emerged. We gathered that the network issues which the bank had experienced last month, where transactions of Customers were stalled, was as a result of the resignation of Zenith Bank’s Information Technology Officer.

Sources who spoke with Trail Reporters, said, the bank’s platform was completely shut down, as a result of nonpayment of productivity bonuses, which the bank shares to its staffers annually, which is always paid based on the bank’s productivity assessment.

Our Medium gathered that the productivity bonus is captured in the appointment letters of staff, at the point of employment, of which they have been receiving the profit bonus, based on the performance of the branch where staff works, until recently.

One of the staffers said, this money boosts the morale of any banker to work harder in the preceding year, and it is dependent on the performance of each branch, some of us used to get about two million Naira and so on.

But all this came to an end when Peter Amangbo became the MD/CEO of the bank. Another source alleged that, since 2015, when Amangbo came on board as the MD, a form of confidentiality was served on all staff. The bank compelled the staff to sign an agreement not to disclose any information to anyone. But in early April 2021, the bank paid PS to selected staff, most of them kept mute without telling any of their colleagues.

The PS is now for the friends and allies of Senior Directors and Zonal Managers. We also learned that the staff of Zenith Bank now exhibited a lukewarm attitude towards their official duties, which had resulted in many queues and system collapse in the banking halls, the source stated. Staff morale is completely down, due to select bonus payments made for some, while others are exempted because they have no one to speak for them, a staff told Trail Reporters.

When contacted by Trail Reporters, Head of Corporate Communications, Zenith Bank, Sunday Enebeli, did not respond to SMS sent to his number at the time of filing this report.

Source: Trail Reporters