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Number of Banks’ Staff Drops to 94,498 in Q2 – NBS

Number of Banks’ Staff Drops to 94,498 in Q2 – NBS



The National Bureau of Statistics (NBS) has said total number of banks’ staff decreased by 2.55 per cent Quarter-on-Quarter (QoQ) from 96,975 in Q1 2020 to 94,498 in Q2 2020.

The bureau in its “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength” report on Wednesday said, banks staff Year-On-Year also dropped by 9.45 per cent to 94,498 in Q2 2020 from 104,364 reported in Q2 2019.

According to NBS report, number of executive staff working in the banks dropped by 1.92 per cent to 204 in Q2 2020 from 208 reported in Q1 2020 while number of senior staff gained 0.30 per cent to 17,619 in Q2 2020 from 17,566 reported in Q1 2020.

In addition, the number of junior staff in the period under review dropped by 0.75 per cent to 37,733 from 38,020 while number of contract staff dropped by 5.44 per cent to 38,942 in Q2 2020 from 41,181 in Q1 2020.

It was reported in May that banks were sacking permanent or temporary staff due to the economic slump occasioned by the current coronavirus pandemic.

However,, the Bankers’ Committee, an umbrella body of Central Bank of Nigeria (CBN) officials and managing directors of banks, had warned that “no bank in Nigeria shall retrench or lay-off any staff of any cadre (including full-time and part-time).”

The bureau in its report stated also that  total volume of 2,160,436,659 transactions valued at N263.78trillion were recorded in Q2 2020 as data on electronic payment channels in the nigeria Banking sector revealed.

According to the report, “Online Transfer transactions dominated the volume of transactions recorded. 1,317,621,686 volume of Online Transfer transactions valued at N72.25trillion were recorded in Q2 2020.

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“In terms of credit to private sector, the total value of credit allocated by the bank stood at N18.82tilliorn as at Q2 2020. Oil & Gas and Manufacturing sectors got credit allocation of N3.62trillion and N3.07trillion to record the highest credit allocation as at the period under review.”

 


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