According to fresh data from the National Bureau of Statistics a total of 2,929 workers were sacked in the Nigerian banking sector in the third quarter of 2019.
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 per cent decrease. It also reduced by 1,386 when compared to the 102,821 staff recorded in the same period last year.
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 – September).
The report also recorded N16.25 trillion as the total value of credit allocated by the bank for the period under review. It said Oil & Gas and Manufacturing sectors got credit allocation of N3.39trillion and N2.57trillion to record the highest credit allocation as of the period under review.