Nigerian banks sack 2929 workers in three months


Even as the Nigerian government continued to promise to reduce unemployment, the workforce of Deposit Money Banks in the country reduced by 2,929 workers in the third quarter of 2019, the National Bureau of Statistics reports.

The figure is contained in a report on ‘Selected Banking Sector Data: Sectoral Breakdown of Credit, ePayment Channels and Staff Strength data’ posted on the NBS website.

According to the report, the staff strength of the banks reduced by 2,929 in the quarter with 101,435 total staff as against the 104,364 recorded in the second quarter of the year. This represents a 2.81 per cent decrease.

It also reduced by 1,386 when compared to the 102,821 staff recorded in the same period last year.

The report did not indicate the mode of reduction of staff and whether the staff were all sacked or if some had retired.

The report did not also name the banks most involved in the staff reduction.

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