Sources in the bank told Bloomberg that the reductions were expected to start from May unless business conditions improve.
The sources who said they were briefed on the matter during a conference call, said some management staff would get as much as a 40% decrease in their salaries.
A spokesman for Lagos-based Access Bank declined to comment.
Nigerian banks are facing the threat of rising bad-debt levels as a crash in oil prices and the risk of a naira devaluation coincide with the Covid-19 pandemic that has shuttered businesses.
Access Bank, which acquired rival Diamond Bank Plc last year, had 6,898 permanent staff at the end of 2019, according to a presentation on its website.
The acquisition partly contributed to a 31% increase in operating expenses. Personnel, recruitment and training costs account for more than a third of overheads after the deal boosted employee numbers and resulted in “wage harmonization” across the businesses.
NAN