This picture taken on January 29, 2016 in Lagos shows 1000 naira banknotes, Nigeria’s currency. Nigeria’s central bank governor, Godwin Emefiele, on January 26 dismissed calls to devalue the naira in his monetary policy committee statement. Instead he chose to continue propping up the currency at 197-199 naira to the dollar and maintain foreign-exchange restrictions. As a result, the naira on the black market is hovering around a record low of 305, fuelling complaints from domestic and foreign businesses who can’t access dollars required for imports. / AFP / PIUS UTOMI EKPEI (Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

Banks Staffs Strength Drop By 2%

The National Bureau of Statistics has said that the staffing strength in Nigeria’s banking industry reduced by 2.0 percent to 93,090 in 2021.

This is from 95,026 recorded in 2020. NBS said this in its Quarter-on-Quarter, QoQ, Selected Banking Sector Data for last year (Q1-Q4’21).

The report 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.

Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

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