Banking sector staff strength declines to 9-quarter low


By CSL Analysts Yesterday, the National Bureau of Statistics (NBS) published the data on key banking sector statistics. According to the report, the total staff strength of the banking sector declined by 9.5% y/y and 2.6% q/q to 94,498 persons which represents a 9-quarter low. The biggest y/y declines were recorded in Contract staff (down 15.8% y/y to 38,942), Junior staff (down 5.6% y/y to 37,733) and Senior staff (down 1.8% y/y to 17,619). On the other hand, Executive staff increased by 14.6% y/y to 204. On a q/q basis,…

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Wema Bank reopens branches nationwide, advises customers, staff to remain cautious

Wema Bank hits N1trn asset valuation

Due to the federal government’s directive to ease the nationwide restrictions on movement and key businesses, Wema Bank Plc will reopen all its branches nationwide. In a statement released by the bank, from Wednesday, June 3, 2020, all branch offices will resume normal services from 8:00AM to 4:00PM, Monday through to Friday. Ademola Adebise, Managing Director and Chief Executive Officer of the financial institution explained that “though work resumes in earnest, what is of utmost importance is the health and safety of all”. He stressed that the bank will take…

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