Zenith Bank Allegedly Slashes Workers’ Salaries by 30%


Zenith Bank Plc, Nigerian’s largest bank with current shareholder base and the biggest tier1 Bank has slashed its worker’s salaries by 30% despite declaring huge profit at last financial report.

A staff who did not want his name mentioned told Pulse Nigeria that he and others woke up on August 24, 2016, the date that salaries for the month were to be paid, to notice a cut in the wages without prior notice to that effect, with some senior staff getting as much as N72,000 deducted.

“My email should not be public because I am a staff of the bank involved. As at today, 24th August 2016, being the pay day, Zenith Bank has slashed down staff salary without prior notice or official memo.

Although the non-professional staff/contract staff salary wasn’t affected, this is not the right way to go in this harsh economic situation in the country.

Please find below the amount deducted and level: Assistant Manager; (N72,000); Executive Trainee (N3,000); Executive Assistant (N10,000); Senior Executive Assistant (N30,000); Assistant Banking Officer (N40,000); Banking Officer (N50,000)”, he said in a email note

No official statement from the Bank yet.


Farouk Mohammed

Farouk Mohammed is a Senior Editor at Okay Nigeria (Okay.NG). He has been publishing for 5 years and focused more on Local/World News on Okay Nigeria.

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