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Nigerian banks sack 2,929 workers in three months

Banking institutions in Nigeria sacked whole of 2,929 employees in the third quarter of 2019 in accordance to fresh info from the National Bureau of Stats.  


The aspects are contained in a report on Selected Banking Sector Data: Sectoral Breakdown of Credit, ePayment Channels and Staff members Power info posted on the NBS web site.  


According to the report, the employees strength of the banking companies decreased by 2,929 in the quarter with 101,435 complete personnel as versus the 104,364 recorded in the next quarter of the yr. This signifies a 2.81 per cent minimize. It also lowered by 1,386 when as opposed to the 102,821 personnel recorded in the identical interval previous yr.


The banking sector recorded a volume of 800,201,498 transactions valued at N42.76 trillion naira on Digital Payment Channels in just the three months of the third quarter (July – September).

“NIBSS Quick Payments (NIP) transactions dominated the volume of transactions recorded. 298,988,572 quantity of NIP transactions valued at N26.18trillion were recorded in Q3 2019,” it claimed.

The report also recorded N16.25 trillion as the whole benefit of credit history allotted by the bank for the time period under critique. It stated Oil & Fuel and Manufacturing sectors got credit history allocation of N3.39trillion and N2.57trillion to document the greatest credit rating allocation as of the period of time underneath critique.