Diamond Bank sacks about 200 staff. See why

Diamond Bank Plc, has began retrenchment of no less than 200 members of its staff due to the current economic challenges the Nigeria is facing.
About two months ago, the bank announced that its profit before tax for the first quarter of this year fell to N6.04bn from the N7.94bn it recorded in the first quarter of 2015.
 The slowdown in the economy has fuelled a high non-performing loan rate in the banking system, causing banks to record sharp decline in their profits for the 2015 financial year and the first quarter of 2016. The Bank was said to have fired the workers on Friday.
A reliable source who confirmed the development in a statement on Tuesday, said that the retrenching of the 200 workers was in line with its strategic plan to drive shareholders’ value