Wema Bank, one of Nigeria’s leading financial institutions has reportedly increased the salary of its workers in a new payment structure that is considered one of the best in the banking industry......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The Banking industry remains one of the highest-employing sectors in the country, but most are contract staff.
Wema Bank adjusts workers’ salary
TechCabal reports that Wema Bank implemented a salary increase for its over 1,700 employees, effective March 2025.
The report added that under the new structure, executive trainees, who previously earned N255,000 per month, will now start at approximately N541,000 which is a a 112% increase.
While assistant banking officers will see their salaries rise from N681,000 to N830,000, while banking officers’ pay will increase from N875,000 to N1.015 million.
Senior banking officers, who previously earned N1.07 million, will now take home upwards of N1.2 million per month.
Nigeria banks increase salary
Wema Bank is not the only bank to have adjusted its salary structure as the cost of living skyrocketed across the country.
Legit.ng had previously reported that Zenith Bank, Guaranty Trust Bank, Union Bank, First Bank, and Sterling Bank in the last six months have taken steps towards this direction as part of efforts to reward performance and boost the confidence of its workforce.
Here is a snapshot of workers’ salaries in the banking industry.
Bank salary for executive trainee:
Assistant banking officer:
Banking Officer
Senior Banking Officer
Assistant Manager
Wema Bank opens new branches
Legit.ng reported that Wema Bank PLC is planning to expand its branch network to the southeast region.
This was disclosed by Moruf Osen, managing director/CEO of Wema Bank Plc, disclosed this at the bank’s annual general meeting (AGM).
During the meeting, Wema’s boss also declared that the bank will retain its national banking license and will not go back to its regional banking license.