The management of Consolidated Bank Ghana Limited (CBG) has written to all its staff notifying them of an impending assessment of them, which will determine whether the new bank will continue to need their services or not – after 60 days.

CBG was recently formed by the Bank of Ghana when it fused together five struggling local banks, including The Beige Bank, Sovereign Bank, The RoyaL Bank, uniBank and The Construction Bank.

In the letter dated 1 August 2018 signed for, and on behalf of Consolidated Bank Ghana Limited by MD/CEO Daniel W. Addo, the management said: “We wish to welcome you to the Consolidated Bank Limited.

“As you are aware, the Bank of Ghana has withdrawn the operating licence of you bank and the Consolidated Bank Ghana Limited has assumed the assets and liabilities of the bank.

“The purpose of this letter is to inform you that you will be working with the new bank for a period of 60 days for certain, during which time it will be possible for your employment status to be assessed.

“Based on this assessment, a determination will be made as to whether you will continue to be in employment with the Consolidated Bank Ghana Limited.

“Kindly be reminded that you will operate from your current work place”.

It is recalled that following the merger of the five banks, Bank of Ghana Governor, Dr Ernest Addison, said none of the staff would "immediately" lose their job.