Pay workers living wage sterling bank chairman tells fg

It seems like you're referring to a recent news article or statement made by the Chairman of Sterling Bank, where he advised the Federal Government of Nigeria to pay workers a living wage.

For those who may not be aware, a living wage is the minimum amount of money that an individual needs to earn in order to meet their basic needs, such as housing, food, healthcare, and other essential expenses. It's often considered to be higher than the minimum wage, which is the lowest amount of money that an employer is legally required to pay an employee.

The Chairman of Sterling Bank, Yemi Odubiyi, made this suggestion in response to the current economic challenges facing Nigeria, including inflation, unemployment, and poverty. He argued that paying workers a living wage would not only improve their standard of living but also boost economic growth and development.

Odubiyi's statement is likely to resonate with many Nigerians who are struggling to make ends meet, as the country's minimum wage has remained stagnant for several years. The current minimum wage in Nigeria is N30,000 (approximately $80 USD) per month, which is considered to be very low compared to other countries in the region.

It's worth noting that the Nigerian government has been under pressure to increase the minimum wage, with many workers and labor unions demanding a higher wage to reflect the country's rising cost of living. However, the government has been slow to respond, citing concerns about the impact on the economy and the need for more fiscal discipline.

Overall, the Chairman of Sterling Bank's suggestion to pay workers a living wage is a timely and relevant call to action, and it's hoped that the government will take his advice seriously and consider implementing policies that would improve the living standards of Nigerian workers.