International records / OpenAlex research

Post-consolidation Challenges and Strategies for Managing Employees’ Resistance to Change in the Banking Sector in Nigeria

To tackle the problems bedeviling the banking sector in Nigeria and restore depositors confidence in the sector, the Central Bank on July 6, 2004 mandated all 89 banks to recapitalize to the tune of N25 billion on or before the December 31, 2005. Most of twenty- five group banks which met this requirement within the stipulated time frame did so through merger and acquisition with varying implications and challenges for employees and their banks such as closure of weak and non-consolidation banks, job losses, poaching, intra wage disparity and employee low commitment to work in post- consolidat…