Lagos — Spring Bank Plc management said yesterday that it had sacked about 120 of its staff as part of efforts to restructure and reposition the bank. It said it had commenced a restructuring exercise aimed at putting the bank on the path of recovery and optimization of its workforce.

It would be recalled that the management of the bank was sacked in September by the Central Bank of Nigeria (CBN) as part of efforts to prevent it bank from collapsing. The bank in a statement signed by its Group Executive, Brand Management Igwe U Igwe said the development, which would engender a re-focused and result-oriented work force, was mainly targeted at non-performing staff, who over the years contributed below expectations to both shareholders and customers.