Zenith Bank motivates workforce, raises pay by 20%, promotes over 4,000

Zenith Bank, one of the leading financial service providers in Nigeria, has elevated over 4,000 of its employees as part of a major restructuring exercise aimed at rewarding performance and optimising its workforce, The Witness reports.

The bank, this newspaper learnt has also implemented a significant salary increase of its staff to over 20% beginning from January 1, 2025.

The promotion, The Witness reliably gathered cuts across all grades up to senior managers.

We learnt that more promotions of its top management staff are expected in the coming weeks, pending approval from the Central Bank of Nigeria.

This approval may be related to broader restructuring plans or changes to the bank’s organisation structure, as it is a standard procedure for significant personnel changes within a regulated financial institution.

The promotions, carried out between last Friday and Monday, recognise outstanding contributions while addressing organisational needs.

“The objective of the bank’s … is to motivate staff, boost productivity and enhance customer experience through excellent service delivery

“This is part of an ongoing strategy to improve efficiency and maintain excellence across the bank’s operations,” the source said.

Zenith Bank shares have remained the toast of investors and authoritative sources say the bank’s Offer of September 2024 was massively oversubscribed.

In furtherance of its efforts to offer customers endearing experience and offer seamless banking services across the country, the tier-one financial institution, in October 2024, completed a ground-breaking technology transformation which modernised its core banking infrastructure, enhanced service delivery and operational efficiency.

As a major player in Nigeria’s financial landscape, under its managing director/chief executive officer, Adaora Umeoji, the bank has embraced a holistic approach to growth that integrates environmental, social and governance (ESG) principles with its core business objectives.

At the heart of Zenith Bank’s strategy is a focus on buoying economic inclusion, supporting small and medium-sized enterprises (SMEs) and driving technological innovation to enhance customer experiences. The bank’s proactive investments in renewable energy, sports, digital transformation and impactful community initiatives exemplify its dedication to creating long-term value for its stakeholders while addressing global sustainability challenges.

Zenith Bank’s continued success is driven by a combination of strong financial performance and an unwavering commitment to its stakeholders.

Zenith Bank’s growth trajectory is underpinned by a robust expansion strategy. With operations in several countries, including the UK, UAE, China, and most recently, France, the bank continues to expand its geographical footprint.

As usual, the bank’s efforts in 2024 did not unnoticed as the lender clinched several local and international awards in recognition of its outstanding performance.

In 2024, the bank won the Best Bank in Nigeria at the annual Global Finance award in Washington, DC, NY.

The bank also emerged the Biggest Bank in Nigeria by Tier-1 Capital, 2024 by The Banker; Best Commercial Bank, Nigeria 2024 – World Finance; Best Corporate Governance, Nigeria 2024 – World Finance; Most Sustainable Bank, Nigeria 2024 – International Banker; Bank of the Year, 2024 – Business Day; Retail Bank of the Year, 2024 – Business Day; Bank of the Year 2024- The Banker.

It also clinched the Most Responsible Organization in Africa 2024 – SERAS; Best in Gender Equality & Women Empowerment 2024 – SERAS and Best in Transparency & Reporting 2024 – SERAS.