In order to mitigate the effects of the elimination of fuel subsidies, Wema Bank has increased the salaries of staff members.
It claimed that because employee welfare was a top priority, this was necessary.
The bank claimed that in light of the current economic conditions, which have seen recent increases in the cost of fuel, electricity, and other commodities, firms must put their employees’ welfare first.
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In a statement that was endorsed by Ololade Ogungbenro, the divisional head for people, brand, and culture at the bank, the wage rise was announced.
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.
“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 recognised and rewarded.”
