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Nigerian Banks Sacked 2,929 Workers In Three Months – NBS

Banks in the country sacked a total of 2,929 workers in the third quarter of 2019, the National Bureau of Statistics has said.

The details are contained in a report on Selected Banking Sector Data: Sectoral Breakdown of Credit, ePayment Channels and Staff Strength data posted on the NBS website.

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According to the report, the staff strength of the banks reduced by 2,929 in the quarter with 101,435 total staff, as against the 104,364 recorded in the second quarter of the year. This represents a 2.81 percent decrease.

It also reduced by 1,386, when compared to the 102,821 staff recorded in the same period in 2018.

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The report also revealed that the banking sector recorded a volume of 800,201,498 transactions, valued at N42.76 trillion naira on Electronic Payment Channels within the three months of the third quarter (July to September).

“NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. 298,988,572 volume of NIP transactions valued at N26.18trillion were recorded in Q3 2019,” it said.

The report further recorded N16.25 trillion as the total value of credit allocated by the bank for the period under review.

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It said Oil & Gas and Manufacturing sectors got credit allocation of N3.39 trillion and N2.57trillion, to record the highest credit allocation as of the period under review.

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