As part of measures to cushion the effect of fuel subsidy removal on its workforce, starting from July 2023, GTBank is set to implement a 100 per cent increase in the salaries of junior staff members, notably employees in outsourced roles, such as security staff, cleaners, and drivers.
Blueprint gathered from so e staff that the bank actually increased salaries as a result of the removal of fuel subsidy.
It was gathered that cleaners will now earn between N70,000 to N80,000, while drivers will receive between N140,000 to N150,000.
A review of the bank’s 2022 financial statements reveals it has about 774 staff who earn between N770k and N1.4 million annually. These are the lowest-earning staff of the bank.
Another 340 earn above N1.4 million but less than N2.05 million annually while 741 staff earn between 2.1 million and N3 million per annum.
The recent removal of fuel subsidies in Nigeria has had a widespread impact on individuals across the country, including employees who now face increased transportation expenses for their daily commute.
In addition, the rising inflation has led to higher fuel prices, causing public transportation providers such as buses, Keke NAPEP, and motorcycles to raise their fares accordingly.
