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Two out of every five people working in Nigerian banks are contract staff, analysis of data provided by the National Bureau of Statistics has shown.
According to the NBS, as of the end of September 2020, 23 banks operating in employed a total of 95,888 workers. Out of this number, 40,382 of them were contract on contract. 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.
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.
Branch International, the leading digital finance app with over 20 million users, has announced the appointment of Dayo Ademola as Managing Director in Nigeria, effective immediately.
Ademola, a leader with over fifteen years of experience in global, consumer-centric companies such as MainOne, Rosetta Stone (USA) as well as Union Bank amongst others, will lead the Branch team with the key focus to provide Nigerians with great value through quality modern financial services
In her new role in Branch, she is expected to leverage her experience as a financial services and technology leader, drawing from her established operational excellence in innovation, business strategy, customer segmentation, strategic marketing, product positioning, product development and business performance management.