₦airaland Forum

Response to the post
https://www.nairaland.com/8529838/43-every-100-nigerian-bank

I've been following this discussion, and while I appreciate StatiSense's data, I must agree with the general consensus here: that 43% figure is grossly inaccurate. From my direct, recent experience, and confirmed by numerous comments, the reality is far more severe. 75-80% feels far more accurate in today's Nigerian banking environment.

My eight-year career as a contract operations staff member is a testament to the actual scale of this practice and the inherent unfairness of the system.



My career as a contract operations staff member started with boundless optimism back in 2017. I was a fresh-faced kid, genuinely grateful to have landed a role in a "prestigious" organization. That positive mindset quickly evaporated when I was confronted by the glaring disparity—the shocking pay gap between the core employees and us, the contractors.
I worked at Sterling Bank from 2017 to 2024, under contract with VLA—and I can confirm the system is unequivocally rigged against you.

Mastery Without Compensation
We put in the same, often longer, hours and handled the bulk of the ground operations. Some of us even had more experience or identical educational backgrounds as the core staff. I myself was so experienced that I had mastered every branch touchpoint: ATM operations, customer care, tellering, and transfers. My colleagues could testify that I had the work ethic, experience, and temperament to have been converted years ago. When I finally turned in my resignation, many were shocked, believing I was already a core staff member.
Yet, despite this dedication, the financial reward was negligible. My final salary upon leaving in 2024 was a meager ₦197,000 per month.
The bank continually offered the false hope of permanent employment, using it to control and retain us. They’d convert a handful (maybe 10 or 15) out of thousands some years, but the promise was continually broken. After four years, it was clear: they had no real plan for us. We were simply a cheap, experienced, and flexible workforce.

The Problem of Transferable Skills
I needed to escape, but the system had me cornered. The hours were brutal (7 a.m. to 8 p.m., plus weekends), leaving no time to job hunt or reskill, and I couldn't save much to simply walk away.
Most critically, I found the job market unresponsive to my applications. It was then I realized the trap that keeps most bankers stuck: a severe lack of transferable skills. After years in that environment, many bankers struggle immensely to change careers because their skill sets don't translate well, beyond general soft skills.
I had to return to my roots as a data enthusiast and take up the challenge of reskilling. It was a brutal juggle—work, family, and studies—but I powered through. I turned in my resignation after more than seven years.

A Note of Gratitude and a Warning
While I detail the flaws of the system, I am also grateful for the opportunity. Ultimately, the ball was always in my court to walk away, and I chose to stay until I found my own solution.
However, my former colleagues are proof of this vicious cycle. They long to leave but are held back by the fear of survival, trapped by the same issues I've outlined. For anyone considering it, being a contract staff in a bank is not worth the emotional or financial cost. I pray for all of you who are still there.

Archangels2:
Response to the post
https://www.nairaland.com/8529838/43-every-100-nigerian-bank

I've been following this discussion, and while I appreciate StatiSense's data, I must agree with the general consensus here: that 43% figure is grossly inaccurate. From my direct, recent experience, and confirmed by numerous comments, the reality is far more severe. 75-80% feels far more accurate in today's Nigerian banking environment.

My eight-year career as a contract operations staff member is a testament to the actual scale of this practice and the inherent unfairness of the system.



My career as a contract operations staff member started with boundless optimism back in 2017. I was a fresh-faced kid, genuinely grateful to have landed a role in a "prestigious" organization. That positive mindset quickly evaporated when I was confronted by the glaring disparity—the shocking pay gap between the core employees and us, the contractors.
I worked at Sterling Bank from 2017 to 2024, under contract with VLA—and I can confirm the system is unequivocally rigged against you.

Mastery Without Compensation
We put in the same, often longer, hours and handled the bulk of the ground operations. Some of us even had more experience or identical educational backgrounds as the core staff. I myself was so experienced that I had mastered every branch touchpoint: ATM operations, customer care, tellering, and transfers. My colleagues could testify that I had the work ethic, experience, and temperament to have been converted years ago. When I finally turned in my resignation, many were shocked, believing I was already a core staff member.
Yet, despite this dedication, the financial reward was negligible. My final salary upon leaving in 2024 was a meager ₦197,000 per month.
The bank continually offered the false hope of permanent employment, using it to control and retain us. They’d convert a handful (maybe 10 or 15) out of thousands some years, but the promise was continually broken. After four years, it was clear: they had no real plan for us. We were simply a cheap, experienced, and flexible workforce.

The Problem of Transferable Skills
I needed to escape, but the system had me cornered. The hours were brutal (7 a.m. to 8 p.m., plus weekends), leaving no time to job hunt or reskill, and I couldn't save much to simply walk away.
Most critically, I found the job market unresponsive to my applications. It was then I realized the trap that keeps most bankers stuck: a severe lack of transferable skills. After years in that environment, many bankers struggle immensely to change careers because their skill sets don't translate well, beyond general soft skills.
I had to return to my roots as a data enthusiast and take up the challenge of reskilling. It was a brutal juggle—work, family, and studies—but I powered through. I turned in my resignation after more than seven years.

A Note of Gratitude and a Warning
While I detail the flaws of the system, I am also grateful for the opportunity. Ultimately, the ball was always in my court to walk away, and I chose to stay until I found my own solution.
However, my former colleagues are proof of this vicious cycle. They long to leave but are held back by the fear of survival, trapped by the same issues I've outlined. For anyone considering it, being a contract staff in a bank is not worth the emotional or financial cost. I pray for all of you who are still there.

Apt description. Many who don't even work in the bank found the statistics quite difficult to believe.

There's hardly any working system in Nigeria that one can really trust and the banking industry is no different both to it's customers and her staff.

When one gets frustrated with the idleness and lack of finance, you simply accept any of the limited opportunities that come your way in the country and get roped in until you discover the vicious cycle and have to decide weather to combat it or to give into it.

I always advise to fight your way into something better

Your last pay of N197k in 2024 was okay then. Couple with fact that there must be an increment after approval of national minimum wage.

Let me be brutal with differential pay. Provided what you received is okay and fair to economic reality I can't be envied by what others or my colleagues earn. By the way there are many industrialists but dangote is a richest.

Si if what you receive is fair enough stop being envied or coveted

I am a banker I was among the first set of contract staff recruited in intercontinental bank then 2005/06. The pay was fair enough then even though my permanent staff colleagues earned far more. I used mine to build my certification in ICAN, A+, N+, CUSA, CITN, MBA, etc

When I lost my job in Access bank, I quickly transferred my service to first bank later to pension. Now am running my accounting and finance firm.

Archangels2:
Response to the post
https://www.nairaland.com/8529838/43-every-100-nigerian-bank

I've been following this discussion, and while I appreciate StatiSense's data, I must agree with the general consensus here: that 43% figure is grossly inaccurate. From my direct, recent experience, and confirmed by numerous comments, the reality is far more severe. 75-80% feels far more accurate in today's Nigerian banking environment.

My eight-year career as a contract operations staff member is a testament to the actual scale of this practice and the inherent unfairness of the system.



My career as a contract operations staff member started with boundless optimism back in 2017. I was a fresh-faced kid, genuinely grateful to have landed a role in a "prestigious" organization. That positive mindset quickly evaporated when I was confronted by the glaring disparity—the shocking pay gap between the core employees and us, the contractors.
I worked at Sterling Bank from 2017 to 2024, under contract with VLA—and I can confirm the system is unequivocally rigged against you.

Mastery Without Compensation
We put in the same, often longer, hours and handled the bulk of the ground operations. Some of us even had more experience or identical educational backgrounds as the core staff. I myself was so experienced that I had mastered every branch touchpoint: ATM operations, customer care, tellering, and transfers. My colleagues could testify that I had the work ethic, experience, and temperament to have been converted years ago. When I finally turned in my resignation, many were shocked, believing I was already a core staff member.
Yet, despite this dedication, the financial reward was negligible. My final salary upon leaving in 2024 was a meager ₦197,000 per month.
The bank continually offered the false hope of permanent employment, using it to control and retain us. They’d convert a handful (maybe 10 or 15) out of thousands some years, but the promise was continually broken. After four years, it was clear: they had no real plan for us. We were simply a cheap, experienced, and flexible workforce.

The Problem of Transferable Skills
I needed to escape, but the system had me cornered. The hours were brutal (7 a.m. to 8 p.m., plus weekends), leaving no time to job hunt or reskill, and I couldn't save much to simply walk away.
Most critically, I found the job market unresponsive to my applications. It was then I realized the trap that keeps most bankers stuck: a severe lack of transferable skills. After years in that environment, many bankers struggle immensely to change careers because their skill sets don't translate well, beyond general soft skills.
I had to return to my roots as a data enthusiast and take up the challenge of reskilling. It was a brutal juggle—work, family, and studies—but I powered through. I turned in my resignation after more than seven years.

A Note of Gratitude and a Warning
While I detail the flaws of the system, I am also grateful for the opportunity. Ultimately, the ball was always in my court to walk away, and I chose to stay until I found my own solution.
However, my former colleagues are proof of this vicious cycle. They long to leave but are held back by the fear of survival, trapped by the same issues I've outlined. For anyone considering it, being a contract staff in a bank is not worth the emotional or financial cost. I pray for all of you who are still there.

People don't understand the quagmire you are in when you work a bank job(branch operations and marketing) . You will hear ignorant people say.. Haba, you are not grateful that you receive 197k. Even the bank brainwashes you saying 'many are looking to take your place' etc. 197k for 10years without promotion and working 7days in a week without overtime even with all the risk involved is slavery and an abuse of human right .. Even the Civil service will promote you every 3years knowing that a boy will think of becoming a man tommorow.. Forget it eh.. They won't understand.
Many will ask.. So why didn't you walk away-as if na so e easy when you no de see sunlight, getting home being wasted as if a truck hit you, how about the emotional torture and abuse.. These things hold you down(you are human bro) . How about the dependency on salary with no window to do a side thing... You need very gigantic balls to take a walk.
My brother, its all part of the scheme to keep you docile for years, milk your youth and trash you.
Maybe one day il tell my story or maybe no need.
Even after relocating abroad, it's bankers that do menial jobs here. U know why? Because after spending years in a Nigerian bank, they posses no sellable skills.. Nothing... Just experience chasing deposits, posting transaction(data entry.. Lol) and managing cash. Leadership experience can be okay for those who held one, but the packaging no be here.
I even did a video using AI to try and explain my pain


https://www.youtube.com/watch?v=43qYZR71nSM?si=LNJDwWIotm-YWIvf

Maybe the few that watched it will draw inspiration to move on
Cheers

As much as the posts above are testimonials from former victims of the system, I still know a handful that are better than core staff.

I was talking to one last night who started out as a non core who landed in UK last week. Two who worked in my branch are getting married in UK soon.

One of whom I'm a referee is an Area Sales Manager covering regions of a Fintech coy. I know that some are exceptional and when they break limitations, you're never surprised because they were consistent.....
Some are too scared to take risks or have given up and left their fate to chance.

When I encourage some, those that care to listen are core staffs while some that failed to are where they are while the rest tried but maybe age factor and location too as the opportunities for corporate jobs are in Lagos but for those doing business, they thrive anywhere.

You are right contract is 80 to 85% very sure