Business Hilights
Tracking Nigeria's Headline Business News Online

8,663 bank workers’ eased out within first half of 2017– NBS

…TUC, NLC silent as casualization deepens in sector

More details have emerged on how the Nigerian banking industry performed in terms of staff retention and retrenchment by the National Bureau of Statistics (NBS) during the first half of 2017.

In a data released recently, the federal data merchant said about 8,663 people lost their jobs in the first recently, half of 2017.

Further breakdown of the figure means that within the period and on weekly basis, average of 340 workers was sacked from January to June 2017.

According to the report titled ‘Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength’, “In the first quarter of 2017, 174 top executive staff were gainfully employed but the figure reduced to 161 in the second quarter”.

“Figures for senior level staff showed that 20,483 were on payroll in the first quarter. This dropped to 19,826 in the second quarter. For junior staff category, 33,783 were employed as at the second quarter, lesser than the 36,202 that had jobs in the first quarter.

But the report disclosed that the number of contract staff increased from 20,237 in the first quarter to 21,837 in the second quarter, meaning that contrary to provisions of the Nigerian Labour law which criminalized casualization or contract staffing, many banks erred in law.

However, within the period and as contract staff continue to rise on diminishing full staff system, none of the twin labour bodies including the TUC and NLC opened up on the criminal act in the sub sector.

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