Banks’ staff increased by 348 persons in 3 months

THE National Bureau of Statistics (NBS),  has said that the total number of staffers in Nigerian banks increased by 0.33 per cent when compared quarter by quarter 104,669 in the fourth quarter (Q4), 2018 to 105,017 in the first quarter, 2019.

Also, a total of 557,083,712 electronic-payment transactions valued at N34.02 trillion were recorded in selected banks across the country in the first quarter, 2019, the statistics bureau said.

The NBS in a report on Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels and Staff Strength data posted on its website over the weekend noted that Nigeria Inter-Bank Settlement System Instant Payment transactions dominated the volume of transactions recorded.

It stated that 232,816,102 volumes of NIP transactions valued at N24.17 trillion were recorded within the period under review.

The NBS, however, said that in terms of credit to the private sector, the total value of credit allocated by the banks stood at N15.21 trillion as at first quarter 2019.

It said, the oil and gas and manufacturing sectors got credit allocation of N3.49 trillion and N2.23 trillion respectively to record the highest credit allocation as at the period under review.

The NBS had in February 2019 reported that out of 104,669 employees in Nigerian Banks in Q4 of 2018, 201 are the executive staff, which represented 0.19 per cent, less than 1 per cent of the entire bank staff strength. Similarly, the senior staff are 18,119, and this represents 17.3 per cent of the total staff strength. In addition, the Junior Staff stood at 41,111, representing 39.3 per cent as the second highest Staff category in Nigerian Banks.

Lastly, contract staff recorded the highest with about 45,238 amounting to 43.2 per cent of the entire Bank Staff in Nigeria. The report further showed that total Staff strength of the Nigerian Banking Sector increased from 70,960 in Q1 of 2014, to 104,669 in Q4 of 2018. This implies that Nigeria Banks’ Staff strength grew by 47 per cent in the last 4 years.