The United Bank for Africa (UBA) declared it has employed increased its staff strength by employing 4,000 individuals and as well promoted 5,000 of its existing staff.
The bank, in a statement announcing the promotion, said it has also crashed its grade levels to 12 from entry-level to pyramid from the previous 16.
The bank said beneficiaries of the exercise will receive up to 170% increase in their salaries and benefits in addition to higher grade levels.
The bank’s group managing director, Kennedy Uzoka, said the management made the decision in its drive to “improve the fortunes of its staff as they are the backbone of the organisation”.
Uzoka speaking to the staff in a bank-wide live broadcast said: “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
“We have also taken steps to ensure that our bank remains at the top tier as it relates to the 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 with 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 bank said it is currently the highest employer of labour amongst Nigerian banks with staff strength of close to 20,000.