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Banks Lay Off 8,584 Staff In A Year - Career - Nairaland

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Banks Lay Off 8,584 Staff In A Year by ogododo: 8:16am On Apr 26
As the businesses restructured to adapt to the new normal, the banking industry is not left out as the number of employees in the industry reduced by 8.3 per cent compared to the number of banking staff in December 2019.

According to data from the National Bureau of Statistics (NBS) Selected Banking Sector Report, in the fourth quarter, the number of banking staff dropped by 8,584 to 95,026 as at December 31, 2020 compared to 103,610 which was in the employ of banks in 2019.

The COVID-19 pandemic had impacted the operations of banks with many branches closed to reduce contact and many of the affected staff had been contract staff. In the heat of the pandemic, the Central Bank of Nigeria (CBN) had directed that banks not lay off any worker without its approval.

The data released by the NBS showed that most of the staff relieved of their duties last year were contract staff as the number of executive staff increased significantly.



A total of 5,552 contract staff had been laid off in the course of the year reducing the number by 12.2 per cent from 45,350 to 39,798 while the number of junior staff had declined by 5.78 per cent or 2,306 from 39,896 to 37,590 at the end of December last year.

Similarly, the number of senior staff had declined by 4.39 per cent or 1,799 to 17,381 from 18,180.

The number of executive staff rose by 39.67 per cent in the course of the year. compared to 184 executive staff in the industry as at December 2019, executive directors in the industry increased to 257 at the end of last year.


Meanwhile, the total value of credit allocated by the bank stood at N20.37 trillion as of Q4 2020. Oil & Gas and Manufacturing sectors accounted for the highest credit allocated to the private sector by the banking industry.

sector got credit allocation of N3.93 trillion while the manufacturing sector got a credit allocation of N3.19 trillion.

Total non-performing loans in the industry amounted to N1.233 trillion accounting for 6.02 per cent of the total loans. The level of non-performing loans had reduced compared to 6.06 per cent which it was at the end of 2019.

A total volume of 3.464 billion transactions valued at N356.47 trillion was recorded in Q4 2020 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. Online transfers dominated the volume of transactions recorded.

Also, online transfer transactions valued at N120.27 trillion with a volume of 2.227 billion was recorded in Q4 2020 according to the NBS data.

https://leadership.ng/banks-lay-off-8584-staff-in-1yr/?

5 Likes

Re: Banks Lay Off 8,584 Staff In A Year by Sunnybay7: 8:21am On Apr 26
Corona dealt a heavy blow on the economy and the availability of pos at every corner nailed the hopes of the bank staffs.

33 Likes 4 Shares

Re: Banks Lay Off 8,584 Staff In A Year by jetwonder(m): 8:21am On Apr 26
More Sacking. Everyday... #this Lay Off Nawa o!

1 Like 1 Share

Re: Banks Lay Off 8,584 Staff In A Year by ogododo: 8:25am On Apr 26
Just like Warri dey empty now.
Lalasticlala.

1 Like

Re: Banks Lay Off 8,584 Staff In A Year by Bedrooomsecret: 8:53am On Apr 26
Too bad.
This is the reason why students now see education as scam. I spoke with some secondary students to read for their exams. Their response was " Last last, we will carry keke or do yahoo yahoo"
I won't blame them, that's the reality of the country we found ourselves.
Failed Country!
Selfish and Corrupt leaders!
Getting a job seems impossible for the common man.
Intentionally making the people suffer cry

42 Likes 1 Share

Re: Banks Lay Off 8,584 Staff In A Year by ogododo: 10:21am On Apr 26
Bedrooomsecret:
Too bad.
This is the reason why students now see education as scam. I spoke with some secondary students to read for their exams. Their response was " Last last, we will carry keke or do yahoo yahoo"
I won't blame them, that's the reality of the country we found ourselves.
Failed Country!
Selfish and Corrupt leaders!
Getting a job seems impossible for the common man.
Intentionally making the people suffer cry

Life no balance!

5 Likes

Re: Banks Lay Off 8,584 Staff In A Year by Coldie(m): 1:13pm On Apr 27
Fake news

2 Likes

Re: Banks Lay Off 8,584 Staff In A Year by Starrbboyy(m): 1:13pm On Apr 27
This corona of a thing is really causing damage

Re: Banks Lay Off 8,584 Staff In A Year by sotall(m): 1:13pm On Apr 27
Buhari is working.

2 Likes 1 Share

Re: Banks Lay Off 8,584 Staff In A Year by peacenaija(m): 1:14pm On Apr 27
It’s an undeniable fact that the banking sector amongst other sectors was affected by pandemic hence, the lay offs but my grouse is the 39.67% increase in executive team, these are people that takes larger chunk of the payroll so the justification of cost reduction is a lie. They can say they are strategic leaders but what is the essence of strategy that can not be executed by the tactical and operational guys that have been laid off. Obviously, there would be much work for few people and also the savings from this would perhaps be enjoyed by the executives during profit sharing and bonus. How would they cope with the skewed macroeconomic policies been churned out by the government and the food inflation rate that is poised to upward trajectory.
The banks can do better atleast their books is still showing large PAT.

15 Likes 1 Share

Re: Banks Lay Off 8,584 Staff In A Year by FarahAideed: 1:14pm On Apr 27
Again I ask apart from growing our rank on the global Terrorism index what has Buhari done ? Name one sector where he has improved a single Stat?

18 Likes

Re: Banks Lay Off 8,584 Staff In A Year by GboyegaD(m): 1:14pm On Apr 27
Hmm...I pray they are able to get back to their living standards on time.
Re: Banks Lay Off 8,584 Staff In A Year by TimmyTen(m): 1:14pm On Apr 27
It's not just banks, almost all companies in Nigeria are laying off staffs..... It is well

2 Likes

Re: Banks Lay Off 8,584 Staff In A Year by MANNABBQGRILLS: 1:14pm On Apr 27
Sunnybay7:
Corona dealt a heavy blow on the economy and the availability of pos at every corner nailed the hopes of the bank staffs.
You've said it all.
Entrepreneurship is the way to go.
Everyone should always have something to fall back on in this world we live right now.
All the best.

6 Likes 2 Shares

Re: Banks Lay Off 8,584 Staff In A Year by ngadaAwo: 1:14pm On Apr 27
it shall never be well with Buhari supporters in Jesus mighty name I pray

Amen

5 Likes

Re: Banks Lay Off 8,584 Staff In A Year by Vaughanlanrewaj: 1:14pm On Apr 27
That's not the real truth. The real truth is that the Nigerian banks sitting on trillions of naira only employ a paltry 95K of our approximately 200m population! They contribute very small to employment and job creation directly.

That's why Nigerian banks Directors and their proprietors are making huge home runs in billions as renumeration, profits and returns as dividends while sectors like Agriculture,Manufacturing, Transportation and Entertainment that employ millions are at the mercy of the Nigerian banks. I started having a rethink about our banks when during recessions, Manufacturing sector was closing and those on stock exchanges declared losses but our banks declared even improved profits!
Banks are not good employers in the real sense so the impact of the job losses there on jobs is mostly exaggerated and it's just the reality. Now is the time they should make them more nimble, more resource efficient and increase their risk capacity and rein in these bloated remuneration and related parties loans killing Unity bank and UBA so they can support the real sector more and we should query them when they make more billions as profits when economy is in recession.visit www.freestuffsng.com for latest freestuffs in Nigeria. God bless Nigeria.

8 Likes 1 Share

Re: Banks Lay Off 8,584 Staff In A Year by ugochukwufrenzy(m): 1:14pm On Apr 27
pos is gradually phasing out bank cashier's..time will come when only customer care and security will be left at banks

12 Likes 2 Shares

Re: Banks Lay Off 8,584 Staff In A Year by Raredesign883: 1:15pm On Apr 27
Nawa o

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Re: Banks Lay Off 8,584 Staff In A Year by theophorus(m): 1:15pm On Apr 27
...the reality is when "shit" hit the ceiling everyone gets a splash of it. The people supporting the "Evil" in our society will soon get their share.
Unfortunately it may be too late.

Sorry, to everyone who lost their job in the Banking abi na Scamming Sector. I encourage you to learn Coding/Web Dev./AI/Networking.
Na those ones dey reign now.

7 Likes

Re: Banks Lay Off 8,584 Staff In A Year by Akamariner(m): 1:15pm On Apr 27
The era of physical banking is gradually coming to an end.
Over 50million email, with a free software available for 15k only.
Re: Banks Lay Off 8,584 Staff In A Year by Mopolchi: 1:15pm On Apr 27
Unemployment rising. Everything about buhari is bad.

1 Like

Re: Banks Lay Off 8,584 Staff In A Year by Lanre4uonly(m): 1:15pm On Apr 27
It is well with the affected banks staff.
Re: Banks Lay Off 8,584 Staff In A Year by Authoreety: 1:16pm On Apr 27
Naija Don cast

1 Like

Re: Banks Lay Off 8,584 Staff In A Year by slawormiir: 1:16pm On Apr 27
Damnnn niggarrrr
Too bad
Re: Banks Lay Off 8,584 Staff In A Year by BigDawsNet: 1:16pm On Apr 27
Dey don't deserve it@all


Anyway

Why do goalkeepers have so much money in the bank?



Because they are really good at saving lipsrsealed

1 Like

Re: Banks Lay Off 8,584 Staff In A Year by AlhajiBitcoin: 1:17pm On Apr 27
Again ?
Re: Banks Lay Off 8,584 Staff In A Year by Thegoodtravels: 1:18pm On Apr 27
This is worrisome.
Re: Banks Lay Off 8,584 Staff In A Year by Jauroseun: 1:18pm On Apr 27
What’s Going on in Nigeria

How Nigerian Army Destroyed Terrorist with Air Strikes.


https://www.youtube.com/watch?v=z92dykG4qcE

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