Wema Bank has raised the salaries of its employees to cushion the effect of fuel subsidy removal.
It said this was necessary because it prioritized its employees’ welfare.
The bank said the current economic realities, which had witnessed recent spikes in fuel, electricity, and other prices, required employers to prioritize the welfare of their workers.
The bank disclosed the salary increase in a statement signed by its Divisional Head, People, Brand & Culture, Ololade Ogungbenro.
Beyond financial incentives, she said, the bank provided opportunities to its workers for personal and professional growth by nurturing a culture of learning and development.
She said, “Wema Bank’s vision extends beyond its bottom line; with this salary increase for its staff, the bank expects the ripple effect of positive change to extend to the wider industry and world of work.