The number of staff in Nigerian Banks has declined to the lowest figure since the third quarter of 2018, latest figure from the National Bureau of Statistics (NBS) has revealed.
The staff strenght in Nigerian banks dropped by 1.35% Year-on-year (YonY) and 2.81% Quarter-on-quarter (QonQ) in the third quarter of 2019 being reduction of 1,386 and 2,929 in numbers of staff for the 2 periods respectively.
Here is a picturial view of the numbers of staff in banks between 3rd quarter of 2018 and same period in 2019
Further breakdown of the figures from the NBS revealed that the QonQ drop in staff strenght of banks is largely from the drop in the number of Contract Staff by over 3,000 representing 6.7% reduction the Contract staff in the banking Industry in Q3 2019. The number on Contract Staff also reduced by 1,304 YonY.
The number of Junior staff in the banking industry in Q3 2019 however grew marginally by 1% but remains flay YonY. Which may indicate that some of the Contract staff in Nigerian Banks may have been converted to Junior staff
A review of the number of Senior Staff in the banking Industry shows that the numbers of this category of Bank workers has been reducing from Q4 2018 consistently to Q3 2019 number of 17,671. The number dropped 1.5% QonQ but flat YonY.
For the Executives Management Staff in the banking Industry, the number dropped consistently from Q3 2018 to Q2 2019 by about 37% in Q2 2019. The numbers dropped by 13% YonY but increased by 6% in Q3 2019.