Casualisation in Nigeria’s banks: Same work, same targets, different rights.

By Sam Agogo

Long after customers have left the banking hall, many contract workers remain at their desks chasing demanding monthly targets.

Dressed in the same uniforms as permanent staff and carrying out the same responsibilities, they are often employed through outsourcing agencies, leaving them without the job security, pension continuity and benefits enjoyed by full-time employees. For many, years of promises about confirmation have yielded little more than higher targets and renewed contracts.
This growing workforce of contract employees has become a defining feature of Nigeria’s banking industry. While they appear no different from permanent bankers, many face constant anxiety over meeting targets, knowing that failure could mean the non-renewal of their contracts. The practice came under renewed scrutiny after Senator Adams Oshiomhole, speaking on Arise Television in October 2025, described casualisation in the banking sector as “immoral” and “modern-day exploitation.” He claimed that more than 60 percent of bank workers are employed on contract terms, with some banks allegedly creating recruitment agencies to supply themselves with cheaper labour while avoiding direct employment obligations.
Oshiomhole’s criticism reflects a campaign he began decades earlier as President of the Nigeria Labour Congress between 1999 and 2007. During that period, he led protests against employers who relied on casual workers to avoid the responsibilities of permanent employment. His campaign also highlighted the plight of female bank workers, many of whom were subjected to unrealistic deposit mobilisation targets under the constant threat of losing their jobs. More than 20 years later, he argues that the problem has not only persisted but has become deeply entrenched.
Beyond the statistics are personal stories of immense pressure. Contract workers, particularly women, speak of ever-increasing performance targets that often ignore prevailing economic realities. Industry sources say some employees, desperate to keep their jobs, have felt compelled to seek assistance from influential customers in ways that have affected their personal lives and, in some cases, their marriages. The irony, critics argue, is that an industry built on trust and prosperity has left many of its own workers facing uncertainty and emotional strain.
The concerns have also been acknowledged by the Governor of the Central Bank of Nigeria, Olayemi Cardoso, who has publicly admitted that contract staff in the banking sector face poor working conditions. That acknowledgement, combined with Oshiomhole’s renewed campaign, has added momentum to legislative efforts aimed at ending the practice.
In December 2025, the House of Representatives passed for second reading a bill sponsored by Rep. Fuad Kayode Laguda to amend the Banks and Other Financial Institutions Act by prohibiting and penalising the use of casual or contract staff by banks. Laguda argued that contract workers now make up about 65 percent of the banking workforce and that banks use the arrangement to avoid paying pensions, health insurance, bonuses and other employment benefits. He also noted that the practice contradicts existing labour laws, which limit casual employment to three months. The bill is currently before the relevant committee for further consideration.
Despite being among Nigeria’s most profitable industries, many banks continue to rely on contract staffing, raising questions about their commitment to fair labour practices. As debates continue over wages, inflation and the economy, advocates believe the treatment of contract workers in the banking sector deserves equal national attention. For thousands of workers still hoping each new quarter will finally bring permanent employment, that conversation cannot come soon enough.