Sunday, July 6, 2025
23.7 C
Lagos

Banks Sack 1, 982 as Profit Margins Decline, E-Payment Transactions Down 2.16%

Adesola Adeduntan

CEO

First Bank of Nigeria Limited

Money Deposit Banks (MDBs) operating in Nigeria have sacked a total of 1, 982 staff to save cost of day-to-day operations as their profit margin declines.

A report by the National Bureau of Statistics (NBS) indicates that the staff strength of banks in the first quarter of 2021 stood at 94,681, inclusive of executive, senior, junior, and contract staff. The report states by the second quarter of 2021, the number of staff in banks decreased to 92,780 and further decreased to 92,699 in Q3 2021.

However, the NBS stated that Q4 2021 recorded a staff strength of 93,090, indicating an increase of 0.42%.

The NBS also reported that the volume of e-payment transactions in the country decreased by 2.16% to 2.38 billion in Q4 2021.

spot_img
spot_img
spot_img

Hot this week

MTN, 9mobile Ink National Infrastructure Partnership Deal

L-R: Abolaji Idowu, Chief Financial Officer, 9mobile; Omotola Ojutayo,...

Stanbic IBTC Holding’s N148bn Rights Issue Oversubscribed by 21.9%, Injects N140bn into Stanbic IBTC Bank

Acting Group CE Statement Commenting on the just concluded rights...

NAICOM Hands over New Licences to SanlamAllianz Life, General Insurance

The National Insurance Commission (NAICOM) today handed over new...

Access Bank Highlights Leadership at Climate Governance Initiative Launch

Access Bank Plc has once again demonstrated its leadership...

Fidelity Bank Extends Relief Efforts to Eti-Osa Community with Food Bank Initiative

Henry Asiegbu, Divisional Head, Operations, Fidelity Bank Plc (Left);...

Topics

Nigeria Airways: Murdered in Cold Blood 12 Years Ago by Government

This is the story of a national titan, who offered service to the nation for over 40 years. In these years, in keeping with the social responsibility philosophy of its establishment, “WT” (Whisky Tango), as it was fondly recognised in the global aviation circle, flew daily sorties in addition to scheduled operations to advance the aspirations of a new nation. Between 1960 – 1975, Nigeria Airways announced, publicised and projected the image of a new independent black African nation. From Europe to America, from Africa to Middle/Near East, the Nigerian flag flew on WT. It not only brought pride to the nation and its people, but also raised their profile globally at a time when very few nations of the world were in the global air space.

Five-Year Milestone: AIICO Insurance Surpasses ₦200bn in Claims, Benefits Payments

AIICO Insurance Plc, a leading composite insurer in Nigeria,...

P+ Measurement Services Wins 6 Awards in 2022…LaPRIGA, Brandcom, Others

P+ Measurement Services, Nigeria’s leading Independent Public Relations measurement...

NDIC Management Pays Courtesy Visit to FCT High Court Chief Judge

The MD/CE, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan...

PenCom: Why Micro Pension Adoption is Slow in Nigeria

Mr. Dauda Ahmed, Head of Micro Pension at the...

SIM Boxing: Threat to Govt, Telecom Operators’ Revenue

In 2016, it was estimated that telecom companies in...

Stanbic IBTC Graduates 16th Batch of Trainees

As part of its youth empowerment and socio-economic drive,...

Soybean: The ‘Miracle Bean’ Against Protein Deficiency

By Veronica Ejembi Protein deficiency is at an all-time...
spot_img

Related Articles

Popular Categories

spot_imgspot_img