Two out of every five people working in Nigerian banks are contract staff, according to analysis of data provided by the National Bureau of Statistics.

According to the NBS, as of the end of September 2020, 23 banks operating had employed a total of 95,888 workers.

 Out of this number, 40,382 of them were contract staff, this means that 42.11 per cent of the workers are on contract.

Institutions covered in the employment statistics include commercial banks, merchant banks and non-interest banks.

The NBS revealed that the total number of contract staff in the banking sector stood at 45,350 in Q4, 2019, while the total staff was 103,610.