Excitement as UBA Increases Staff Salaries by 170%

By Modupe Gbadeyanka

**Promotes 5,000, Recruits 4,000

The management of United Bank for Africa (UBA) Plc has approved salary upgrades for its employees with immediate effect this January.

A statement issued by the financial institution stated that beneficiaries of this exercise, over 5,000, will receive up to 170 percent increase in their salaries and benefits, whilst a good number have been moved to higher grade levels.

The Group Managing Director/Chief Executive Officer of UBA, Mr Kennedy Uzoka, who announced the bank’s new staff improvement initiatives to the excited employees, noted that the bank was continually seeking new ways to improve the fortunes of its staff as they are the backbone of the organisation.

“As a leading financial institution, we do not take issues relating to our staff lightly. We take great pride in being a listening bank that has the ears of our employees as they turn the wheels which make the organisation successful for our customers and shareholders. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly,” Mr Uzoka said in a bank-wide live broadcast to workers of the organisation.

In a carefully planned restructuring embarked upon by the bank in the last quarter of 2019, UBA has transformed its grading system and processes to become one of the most competitive within the industry.

The bank crashed its grade levels to 12 levels from entry level to the top of the pyramid, where previously it had been 16 levels.

This means that staff will now find it much easier to attain top leadership management positions at UBA as their careers progress much faster.

It further recruited over 4000 new staff members, who resumed in the last week of December 2019, becoming the highest employer of labour amongst Nigerian banks with a staff strength of close to 20,000.

“We have also taken steps to ensure that our bank remains at the top tier as it relates to talent pool. We want to train the best and we have crashed the grade structure to make it easier and faster for our employees to progress along their careers.

“With this new grade structure, it will be possible for a new graduate employed at UBA to rapidly chart their own careers and become GMD by the age of 36,” the GMD/CEO further said in the broadcast.

UBA is one of Africa’s leading banks with operations in 20 African countries. The bank also has presence in the global financial centres of London, New York and Paris. UBA provides banking services to more than 17 million customers globally, through diverse channels.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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