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How Sterling Bank Uses Tiered Salary Structure to Hold Down Staff Without Promotion

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How Sterling Bank Uses Tiered Salary Structure to Hold Down Staff Without Promotion—-Sterling Bank’s recent 7% salary increase which was announced earlier this month has been met with widespread criticism and disappointment among its employees, who feel undervalued, overworked, and underappreciated.

According to sources, the bank’s Executive Trainees (ETs) will receive a monthly raise of ₦24,000, from ₦327,000 to ₦351,000, while Senior Executives will receive a monthly raise of ₦27,000, from ₦500,000 to ₦527,000.

Employees have expressed frustration and disappointment with the raise, citing the bank’s failure to keep up with Nigeria’s soaring inflation rate.

The tired salary structure of the bank has sparked a crisis of morale and motivation among Sterling Bank’s staff, with employee engagement and productivity hitting an all-time low. This has significant implications for the bank’s business, as customer satisfaction is likely to suffer.

In contrast, other banks in the industry have taken a more aggressive approach to salary increases. Union Bank and GTBank raised salaries by 40% in late 2024, in a bid to retain top talent in an industry plagued by high employee turnover and poaching.

Research shows that competitive salaries are key to reducing employee attrition in Nigeria’s banking industry. Sterling Bank’s failure to deliver on this front may have far-reaching consequences for its business.

All attempt to get Sterling Bank’s management to respond as at press time proves abortive, but insiders say that the bank’s leadership is aware of the growing discontent among its employees.

As the situation continues to unfold, one thing is clear: Sterling Bank’s employees will not be silenced, and they will continue to demand a fair and living wage.

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BREAKING: Ex-Chelsea Captain César Azpilicueta Announces Retirement From Football

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BREAKING: Ex-Chelsea Captain César Azpilicueta Announces Retirement From Football—-Spanish defender brings curtain down on trophy-laden career after spells with Chelsea, Atlético Madrid and Sevilla.

Former Chelsea FC captain César Azpilicueta has officially announced his retirement from professional football at the age of 36.

The Spanish defender confirmed that he will hang up his boots at the end of the season, bringing an end to a remarkable career that spanned nearly two decades.

He shared this news via his social media handles.

Azpilicueta enjoyed his most successful years at Chelsea after joining the club from Marseille in 2012. During his 11-year spell at Stamford Bridge, he made more than 500 appearances and became the first player in the club’s history to win every major trophy available.

As Chelsea captain, Azpilicueta famously lifted the UEFA Champions League trophy in 2021 under Thomas Tuchel, adding to Premier League, Europa League, FA Cup, UEFA Super Cup and FIFA Club World Cup triumphs during his time in London.

Following his departure from Chelsea in 2023, the veteran defender spent two seasons with Atlético Madrid before joining Sevilla FC for the final chapter of his career.

Azpilicueta also represented Spain at international level, earning 44 senior caps and featuring in multiple FIFA World Cups and European Championships.

In an emotional farewell message, the defender admitted it was difficult to make the decision but thanked supporters, teammates, coaches and clubs who shaped his journey in football.

Tributes have since poured in from fans and former teammates, with many describing Azpilicueta as one of Chelsea’s greatest modern-day captains and one of the most respected defenders of his generation.

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BREAKING: Shock Omissions as Palmer and Alexander-Arnold Miss England World Cup Selection

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BREAKING: Shock Omissions as Palmer and Alexander-Arnold Miss England World Cup Selection—-Ex-Chelsea Manager Thomas Tuchel makes bold selection calls ahead of tournament in North America.

England manager Thomas Tuchel has made several major selection decisions after leaving Cole Palmer and Trent Alexander-Arnold out of the Three Lions’ final squad for the 2026 FIFA World Cup.

The omissions have quickly sparked debate among fans and pundits, with both players considered among England’s biggest talents in recent years.

According to reports, Tuchel opted for balance, tactical flexibility, and current form when finalising his 26-man squad for the tournament in the United States, Canada, and Mexico.

Palmer’s exclusion comes despite the Chelsea star’s strong performances over the last two seasons, while Alexander-Arnold reportedly missed out due to tactical preferences and competition in defensive areas.

The squad announcement also saw several surprise inclusions, including Ivan Toney and Djed Spence, while experienced names such as Jordan Henderson earned recalls.

Other notable absentees include Harry Maguire and Phil Foden as Tuchel reshapes the squad ahead of England’s World Cup campaign.

England will head into the tournament hoping to end decades of hurt and finally lift the World Cup trophy for the first time since 1966.

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