In response to the rising inflation caused by the removal of petrol subsidies, Nigerian banks have taken measures to support their workforce. Wema Bank recently raised the salaries of its employees, aiming to alleviate the harsh effects of fuel subsidy removal, citing economic realities as the driving force behind the decision. Similarly, Guaranty Holding Company, the parent firm of Guarantee Trust Bank, announced a salary increase for its junior and contract staff on June 18, 2023, in an effort to help them cope with the high cost of living. The new salary adjustment became effective from July 1,