AS of the third quarter (Q3) 2020, the total number of Deposit Money Banks’ staff increased by 1.47per cent quarter on quarter (QoQ) from 94,498 in Q2 2020 to 95,888.
According to the report, the total staff strength of the banking sector declined by 9.5per cent year on year (y/y) in the first half (H1) 2020 and 2.6per cent q/q to 94,498 persons which represents a 9-quarter low. The biggest y/y declines were recorded in Contract staff (down 15.8% y/y to 38,942), Junior staff (down 5.6% y/y to 37,733) and Senior staff (down 1.8% y/y to 17,619).
On the other hand, Executive staff increased by 14.6per cent y/y to 204. On a q/q basis, all categories except Senior staff declined with Contract staff (down 5.4% q/q) leading while Executive staff (down 1.9% q/q) and Junior staff (down 0.8% q/q) followed. Senior staff increased by 0.3per cent q/q.
Similarly, available records from the National Bureau of Statistics (NBS) show that total volume of 2,781,526,188 transactions valued at N319.99trillion was recorded in Q3 2020 as data on Electronic Payment Channels in the Nigeria banking sector revealed.
It noted that RTGS transfers dominated the volume of transactions recorded. 1,799,199 volume of Online Transfer transactions valued at N116.06trillion were recorded in Q3 2020.
In terms of credit to the private sector, the total value of credit allocated by the bank stood at N19.87trillion as of Q3 2020. Oil & Gas and Manufacturing sectors got credit allocation of N3.74trillion and N3.03trillion to record the highest credit allocation as at the period under review.
Geographical Distribution of Credit by State stood at N19.46trn compared to N18.90trn in Q2 2020 and N16.62trn in Q3 2019. This represents 2.96% increase in credit Quarter on Quarter and 17.11% Year on Year.
Lagos State recorded the highest credit by geographical distribution with N15.13trn, accounting for 77.74per cent of the total credit by geographical distribution while Yobe State recorded the least with N19.38bn, accounting for 0.09% in Q3 2020.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
COVID-19 Infections Surge Again As Nigeria Records Highest Weekly Cases In Four Months
Last week, the country’s COVID-19 infections witnessed yet another significant increase. Nigeria recorded 3,817 new COVID-19 infections which is the highest the country has recorded in over four months, Tribune Online analysis shows…
A close ally of President Donald Trump and the United States Attorney General, William Barr, has resigned his appointment after holding a meeting with the president…
Bandits Moved Abducted 333 School Boys On Bikes —DHQ
THE Nigerian Army, on Monday, gave more insight into the abduction of school children in Kankara Local Government Area of Katsina State…
Rays of the afternoon sun pelted her head as she fanned the embers beneath the half-cut iron drum with the smoke permeating the air. “This smoke is unbearable, Iya Maria,” said one of the three neighbours conversing under a makeshift shed about five meters away. Their voices rose and fell intermittently…
He said, “These leaders serve as the backbone of their respective communities and governance structures,…
The chairmanship aspirant made this promise on Monday in his address to people of Eti-Osa,…
Senator Plang, in a congratulatory statement, praised Professor Piwuna as the definition of devotion and…
A two-time Minister of Industry, Trade and Investment of the Federal Republic of Nigeria, Dr…
“Despite repeated promises to prioritize youth involvement in agriculture, there remains a significant gap between…
Departmental Security Officers, traditional rulers, and Deputy Chairpersons from the twenty Local Government Areas (LGAs)…
This website uses cookies.