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The Ministry of Employment, Labour and Social Security has stepped in to address concerns raised by employees of Union Trust Bank (UTB) amid the institution’s ongoing transition process.
The intervention follows growing anxiety among staff regarding their future, employment status, and benefits after the Bank of Sierra Leone approved the transfer of UTB’s assets and operations to Rokel Commercial Bank.
During a stakeholder engagement held in Freetown, the Minister of Employment, Labour and Social Security, Mohamed Rahman Swaray, assured employees that their rights and welfare remain a priority and that all procedures relating to the transition would be carried out in accordance with the law. He emphasized that staff members would receive all benefits and entitlements due to them once the process is concluded.
The meeting was convened after concerns were formally communicated by UTB employees, who sought greater involvement and transparency regarding the ongoing developments. Staff members expressed the need for clear information on the transition timeline and the proposed arrangements affecting employees.
Officials from the Bank of Sierra Leone also participated in the discussions and reassured workers that efforts are being made to safeguard jobs throughout the transition period. Representatives noted that the objective of the intervention in UTB was to stabilize the institution and ensure continuity of banking services while a long-term solution was pursued.
UTB has been operating under interim management since December 2025, when the central bank moved to prevent the institution from collapsing. Following an assessment process and expressions of interest from various institutions, Rokel Commercial Bank was selected to take over the bank’s assets and operations.
While acknowledging staff concerns, Minister Swaray explained that a final timeline for the completion of the transition could not yet be confirmed, as consultations with Rokel Commercial Bank’s management were still ongoing.
He nevertheless encouraged employees to remain calm, professional, and committed to their responsibilities as discussions continue among all parties involved.
Further engagements are expected in the coming days, with meetings scheduled between stakeholders and Rokel Commercial Bank management to provide additional updates and address outstanding issues raised by staff.
