Union Bank Increases Workers’ Salary, Plans Bus Pick-up Service

By Aduragbemi Omiyale

A outstanding monetary establishment within the nation, Union Financial institution of Nigeria Plc, has introduced an upward evaluation of the salaries of its staff.

A press release from the corporate mentioned this transfer was taken due to the rising price of products and providers within the nation attributable to the removing of petrol subsidy by the federal authorities.

The lender additional mentioned it will introduce a bus pick-up service for its staff to convey them from numerous locations to work in order to assist them scale back transportation prices.

The financial institution mentioned this complete compensation technique applies to full-time and contract workers and assist workers, resembling cleaners, drivers, and safety guards.

It was gathered that the wage evaluation is the second time this yr and quantities to over 50 per cent, demonstrating Union Financial institution’s dedication to offering an enabling atmosphere for its prospects and devoted staff.

The agency said that these actions align with its core values, which prioritise buyer and worker welfare.

The financial institution has a observe file of impactful humanitarian interventions, such because the Union Financial institution Worker Volunteer Scheme and Union Cares program, which have supplied reduction to impoverished communities nationwide.

Moreover, the financial institution’s Save & Win Palli Promo, launched in the course of the top of the COVID-19 pandemic in 2020, has been extensively well-liked and has rewarded over 1,000 prospects with over N100 million.

Recently, Nigerians have been experiencing extreme financial hardship as a result of latest FX coverage and subsidy removing. The financial challenges arising from the opening up of the overseas change market and the removing of petrol subsidies have resulted in hovering inflation and a big drop within the worth of the Naira towards the Greenback.

This has led to skyrocketing gas costs, affecting the prices of different important commodities and providers, together with meals objects, transportation, schooling, and healthcare.

This elevated financial burden falls on the residents, considerably impacting their lives, resulting in requires the federal government to offer palliatives and insurance policies to cushion the biting results of the deteriorating economic system.