UBA Increases staff salary

To this end, the bank’s Board of Directors have announced the implementation of a cost of living adjustment for its staff effective immediately.

The bank said that over the past few months, it has been closely monitoring the effect of the rising cost of living on its employees and recognises the importance of addressing these challenges proactively, a statement issued by Ramon Nasir, the bank's Head of Media and External Relations said on Friday.

The statement read, "It is interesting to note that even when the bank had previously implemented cost of living adjustment for staff on October 1, 2021 and more recently on April 1, 2023, the persistent economic challenges faced by employees and the broader society as a whole, informed the unanimous decision to again implement another adjustment.

Alawuba explained that the decision to adjust the staff's remuneration package once again demonstrates UBA's unwavering commitment to maintaining the standard of living for its employees at a level that is commensurate with prevailing economic conditions.

“This move will serve to alleviate the financial burdens faced by our staff and their families, reinforcing the bank's position as a responsible and caring employer,” he explained.