Data analysis provided by the National Bureau of Statistics (NBS) has shown that two out of every five people working in Nigerian banks are contract staff.
According to the data analysis, as of the end of September 2020, 23 banks operating in employed a total of 95,888 workers.
The NBS report also stated that out of this number, 40,382 of them were contract on contract. This means that 42.11 percent of the workers are on contract.
Techeconomy.ng gathered that the institutions covered in the employment statistics include commercial banks, merchant banks and non-interest banks.
This medium understands that a contract employee is an individual retained by a company for a predetermined time and cost. The employer is usually not responsible for providing a variety of traditional employer benefits such as pensions and health insurance.
The data provided by the NBS further showed that out of the banks’ total workforce, 241 were executive staff; 17,618 were senior staff, 37,647 were junior staff while the rest were on contract level.
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.
In the first quarter of 2020, the banks had 41,181 contract staff out of 96,975 workers; while in Q2, 2020, the sector had 38,942 contract staff out of 94,498 workers.
The need to cut down on cost had forced a number organisations to resort to contract employment which a number of labour unions are opposed to.
Speaking about the genuinity of the job, former President, Trade Union Congress, Peter Esele said, contract employment was legal, depending on what contract staff signed.
Esele said: “What we have to ask ourselves is, does this contract guarantee sustainable wage? Does it cater to the yearnings and aspiration of workers? Does the contract ensure that the productivity of the workers is enhanced? Does it also create enabling environment for the workers to be at their best?”
“If these criteria are met, it is okay, but knowing how the employers work, I don’t think the workers are enjoying where they found themselves. But what we find is that most of them don’t have a union.”
“If the workers are unionised in the banking sector, my advice to them is that they should sit down and put a condition of service or collective bargaining agreement with employers in the banking sector.”