COVID-19 FINANCIAL CRISIS MANAGEMENT AND ORGANISATIONAL REPUTATION: A STUDY OF ACCESS BANK IN KANO STATE

COVID-19 FINANCIAL CRISIS
MANAGEMENT
AND
ORGANISATIONAL REPUTATION:
A STUDY OF ACCESS BANK IN
KANO STATE
Mahmoud Musa Yakubu
Federal University Dutse, Jigawa
State
mahmoudmusayakubu@gmail.com
&
Dr. Joseph I. Uduji
Department of Marketing
University of Nigeria Nsukka,
(Enugu Campus)
Joseph.uduji@unn.edu.ng
ABSTRACT
In its attempt to cope with the recent
financial and economic hardships imposed by
COVID-19 pandemic, ACCESS Bank PLC was
loathed by various media to have closed some
branches and terminated some of its contract
staff. The contract staff constitutes about 70%
of its workforce. While the staff were in sheer
fear of losing their jobs, the bank responded
in its social media handle that the bank was
neither closing branches nor sacking staff.
This raised the concern about the bank’s
reputation and staff trust. The purpose of this
Accounting and Finance Research Association
study is to examine whether the bank’s
financial crisis management affect bank’s
reputation among its staff; and to find out the
extent to which the bank’s financial crisis
management influences staff trust in the
bank. Image Restoration Theory was used as a
framework for the study. Survey design was
used where 100 ACCESS Bank staff were
studied using a standardized five-scale Likert
questionnaire. The study found that the
bank’s financial crisis communication has a
negative impact on the staff image of the
bank and that there is negative significant
influence on the staff trust in the bank. The
study concluded that the bank’s response to
the media attack has further fueled fear and
distrust among its staff. It is therefore,
recommended that while communicating
with the external public the corporate
communication unit of the bank should
always keep its staff in mind.

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