Wema Bank has increased the salaries of its employees in a bid to cushion the effect of fuel subsidy removal.
The bank announced the salary increment in a statement signed by its Divisional Head, People, Brand & Culture, Ololade Ogungbenro.
The bank said the increment was necessary because it prioritized the welfare of its employees.
The bank said the current economic realities, which reflect in recent spikes in fuel, electricity, and other prices, made employers to prioritize the welfare of their workers.
Apart from financial incentives, Ogungbenro said the bank offered opportunities to its workers for personal and professional growth by fostering 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.
“Wema Bank’s unwavering support for its employees lies at the heart of this expected transformation.
“The impact of this salary increase bears more than mere numbers on a pay slip, employees are experiencing a renewed sense of motivation and dedication to their roles, knowing that their hard work is genuinely recognized and rewarded.”
According to her, Wema Bank valued the contribution of every individual regardless of employment status.
She said: “Wema Bank understands that its employees are its most valuable asset, and by providing a competitive and fair remuneration package, the organization aims to attract and retain top talents in the industry.”
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