Job loss in banks lower staffing strength by 2% to 93,090

The staffing strength in Nigeria’s banking industry reduced by 2.0 percent to 93,090 in 2021 from 95,026 in 2020.

The National Bureau of Statistics, NBS, in its Quarter-on-Quarter, QoQ, Selected Banking Sector Data for last year (Q1-Q4’21), also indicated that the number of  contract staff declined by 209 or 0.5 percent, Year on Year, YoY, to 39,589 in 2021 from 39,798 in 2020.

Meanwhile, according to the NBS’s labour force statistics of unemployment and underemployment, the unemployment rate in Nigeria increased to 33.3 percent in the fourth Q4’20 from 27 percent in Q2’20.

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