Zenith Bank to increase staff salaries, promote over 4000 employees  

One of Nigeria’s largest banks, Zenith Bank, is set to increase staff salaries in January as galloping inflation continues to erode the purchasing power of its employees.

Sources within the bank informed Nairametrics that the management will implement new salary increases in a matter of days. This adjustment would mark the first increase for the bank since 2023, amidst rising economic pressures.

Nigeria’s exchange rate has significantly depreciated, dropping from about N910/$1 at the end of 2023 to over N1,600/$1 in early 2025, exacerbating the financial strain on Nigerians.

In response, Zenith Bank’s decision to elevate salaries comes as a move to alleviate the financial burden on its staff and retain top talent.

Leadership under Adaora Umeoji

The salary increases and widespread promotions also reflect the first major personnel adjustment under the leadership of the bank’s new Managing Director/Chief Executive Officer, Adaora Umeoji.

• Since her appointment, Umeoji has focused on…