Subomi Balogun’s FCMB In Growing Controversy Over N25k Salary For New Staffers!

The financial institution with respected Nigerian- Otunba Subomi Balogun as Chairman, First City Monument Bank is at the centre of a simmering controversy.

Societynowng.com’s investigation revealed after weeks of elimination processes- the bank with Ladi, the son of the Chairman as Managing Director short-listed about one thousand applicants for interview.

The exercise took place two weeks ago- and last week, successful applicants were invited for their letter of appointment.

And on it, the graduates were placed on a monthly salary of N25k ( Twenty five thousand naira).

Sources claimed most of the applicants were shocked and disillusioned.
Ladi Balogun, MD FCMB. They had entertained high hopes of earnings in the neighbourhood of those of counterparts in other rated banks.

Zenith Bank is said to pay between N80k ( Eighty Thousand Naira) – N100k (One hundred Thousand Naira) for those known as Executive Trainees, while new entrants with direct employments earn between N130k ( One hundred and Thirty Thousand naira) – N150 ( One hundred and fifty thousand Naira)

In another bank of the same public perception, Guaranty Trust Bank (G.T.B), fresh employees earn around N60k (Sixty Thousand Naira).

Yet another financial institution, Skye Bank is said to pay the same category of work force monthly take home in the region of N50k ( Fifty Thousand Naira)

News of the F.C.M.B’s N25k offer a month to graduates is said to be speedily causing a bit of furore as it hits town.

Based on economic realities abound- many have decried it as ‘modern day slavery’. That it is an act of taking ‘undue advantage’ of the unemployment rate.

Talks of waging a public campaign against the financial institution over the issue are said to be taking shape by the minute.

Banks spokesperson, Tunde Shofowora did not respond to enquiry on the matter at press time.