Data published by the national Bureau of Statistics (NBS) reveals that two out of every five people working in Nigerian banks are contract staff.
The agency stated that as of the end of September 2020, 23 banks operating in the country employed a total of 95,888 workers.
Out of the number, it said 40,382, representing 42.11 per cent, were on contract.
Institutions covered in the employment statistics include commercial banks, merchant banks and non-interest banks.
Further breakdown of the data showed that out of the banks’ total workforce, 241 were executive staff; 17,618 were senior staff, 37,647 were junior staff while the rest were on contract level.
The NBS revealed that the total number of contract staff in the banking sector stood at 45,350 in Q4, 2019, while the total staff was 103,610.
In the first quarter of 2020, the banks had 41,181 contract staff out of 96,975 workers while in Q2, 2020, they had 38,942 contract staff out of 94,498 workers.
