Banking Collector salary in Nigeria

Average Yearly Salary of Banking Collector in Nigeria is approximately 3,015,576 NGN (3,587 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Banking Collector do?

A banking collector is responsible for recovering outstanding debts from customers on behalf of a bank or financial institution. They are typically tasked with contacting customers who have fallen behind on loan payments, credit card bills, or other financial obligations. The main objective of a banking collector is to negotiate payment arrangements, set up repayment plans, and ensure that customers meet their financial commitments. This occupation requires excellent communication and negotiation skills, as collectors must engage with customers to understand their financial situations and find mutually agreeable solutions. They also need to be persistent and assertive while maintaining professionalism and empathy towards customers facing financial difficulties. Attention to detail is crucial in documenting conversations, updating customer records, and following legal and regulatory guidelines.

Skills: Banking, Debt Recovery, Collections, Negotiation, Customer Service, Financial Obligations.
Job industry: Finance

How much does Banking Collector make?

Difference in salary year over year or average salary increase is approximately 4 %


Want to check how your salary compares? Submit your own salary here

Salary comparison to National average

Is Banking Collector a well paid job?

No, our data shows that Banking Collector is typically not a well-paid job. The salary varies based on experience. Meaning that even though Banking Collector might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Banking Collector?

High salary for Banking Collector would be somewhere between 3,317,134 NGN and 4,372,585 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Banking Collector in Nigeria?

Living in Nigeria the approximate monthly expenses are: 206 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 3,015,576 NGN
Estimated Monthly Salary: 251,298 NGN
Estimated Weekly Salary: 57,992 NGN per week
Estimated Hourly Salary: 1,450 NGN per hour
By working as Banking Collector a person can save up to 93 USD per month or 1,120 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Nigeria, see costs of living in Nigeria.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Niger, Chad, Cameroon, Benin.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Banking Collector

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Nigeria

Data as of 2025

Random salary:
Controller (5,192,629 NGN per year, pre-tax.)
Financial advisor trainee (3,510,352 NGN per year, pre-tax.)
Certified radiology x-ray technician (4,083,865 NGN per year, pre-tax.)
Program coordinator foster care (3,091,528 NGN per year, pre-tax.)
Welding engineer (4,808,894 NGN per year, pre-tax.)

Feedback about these results