06-04-2019, 09:46 AM
Banks hire 25,998 contract staff in 2 years
![[Image: NDIC.png]](https://www.newtelegraphng.com/wp-content/uploads/2017/04/NDIC.png)
Of the total number of 27,921 new staff employed by Deposit Money Banks (DMBs) in the country between the first quarter of 2017 and the first quarter of this year, 25,998 (93 per cent) were contract staff, findings by New Telegraph show.
According to the “Selected Banking S ector Data Q1 2019” released by the National Bureau of Statistics (NBS), at the weekend, the total number of DMBs’ employees rose to 105,017 in Q1 2019 from 77,096 in the same period of 2017, indicating that a total of 27,921 new staff were hired during the period.
A New Telegraph analysis of the NBS data, however, indicates that 93 per cent of the new personnel employed by DMBs during the period were contract staff.
Indeed, a breakdown of the figures shows that the number of contract staff hired by the banks has risen steadily every quarter from 2017 to 2019.
Thus, the total number of contract staff in the industry, which stood at 20,237 in Q1 2017, increased to 32,359 at the end of that year and further rose to 45,238 at the end of 2018.
In contrast to the steady increase in the number of contract staff, the total number of senior staff in the banking industry, which stood at 20,483 as at Q1 2017, declined to 16,568 at the end of that year. However, it has inched up from 16,941 in Q1 2018 to 18,018 in the first quarter of this year.
Similarly, the total number of junior staff in the industry, which stood at 36,202 in Q1 2017, fell to 33,783 and 35,191 in Q2 and Q3 2017 respectively, before rising to 41,338 in Q4 of that year. It then fell to 40,444 in the first quarter of last year before rising to 41,111 at the end of 2018 and dropping to 40,571 in the first three months of this year.
Also, the number of banks’ Executive Staff which rose to 201 at the end of last year from 174 in Q1 2017 fell to 193 in the first three months of this year.
Of the total number of 27,921 new staff employed by Deposit Money Banks (DMBs) in the country between the first quarter of 2017 and the first quarter of this year, 25,998 (93 per cent) were contract staff, findings by New Telegraph show.
According to the “Selected Banking S ector Data Q1 2019” released by the National Bureau of Statistics (NBS), at the weekend, the total number of DMBs’ employees rose to 105,017 in Q1 2019 from 77,096 in the same period of 2017, indicating that a total of 27,921 new staff were hired during the period.
A New Telegraph analysis of the NBS data, however, indicates that 93 per cent of the new personnel employed by DMBs during the period were contract staff.
Indeed, a breakdown of the figures shows that the number of contract staff hired by the banks has risen steadily every quarter from 2017 to 2019.
Thus, the total number of contract staff in the industry, which stood at 20,237 in Q1 2017, increased to 32,359 at the end of that year and further rose to 45,238 at the end of 2018.
In contrast to the steady increase in the number of contract staff, the total number of senior staff in the banking industry, which stood at 20,483 as at Q1 2017, declined to 16,568 at the end of that year. However, it has inched up from 16,941 in Q1 2018 to 18,018 in the first quarter of this year.
Similarly, the total number of junior staff in the industry, which stood at 36,202 in Q1 2017, fell to 33,783 and 35,191 in Q2 and Q3 2017 respectively, before rising to 41,338 in Q4 of that year. It then fell to 40,444 in the first quarter of last year before rising to 41,111 at the end of 2018 and dropping to 40,571 in the first three months of this year.
Also, the number of banks’ Executive Staff which rose to 201 at the end of last year from 174 in Q1 2017 fell to 193 in the first three months of this year.