First City Monument Bank Limited (FCMB) has closed down some of its branches and sacked staff of those branches.
It was gathered Monday night that the branches affected were those formerly owned by Finbank, which was acquired by the bank.
Although calls to officials of the bank were not responded to, it was gathered that the management of the bank resolved to rationalize some redundant and unviable branches of the acquired bank, especially where there were two or three branches in the same area because of the current state of the economy.
A source said while some staff members of those branches were seconded to other branches, majority were relieved of their duties.
It was also gathered that many of those who got the sack were those with issues.