Effects of Job Insecurity on Employees' Job Satisfaction and Commitment in the Nigerian Banking Industry

Job insecurity has emerged as one of the most consequential and institutionally damaging challenges confronting employees in Nigeria's banking industry, where recurring waves of bank consolidation, recapitalisation mandates, digital disruption, aggressive casualisation, and outsourcing practices have created pervasive employment uncertainty that systematically undermines workforce satisfaction and organisational commitment. This paper examined the effects of job insecurity on employees' job satisfaction and commitment in the Nigerian banking industry, drawing on a thematic systematic literature review of 22 carefully selected peer-reviewed studies sourced from Google Scholar, Scopus, and Web of Science out of an initial pool of 48,648 identified records. The Psychological Contract Theory provided the theoretical framework, grounding the analysis in how perceived violations of employment security expectations translate into satisfaction losses and commitment withdrawal among banking sector employees. Findings confirm that all four examined dimensions of job insecurity, namely qualitative, quantitative, contractual, and outsourcing-related insecurity, independently and collectively produce significant and measurable reductions in employee job satisfaction and organisational commitment, with quantitative insecurity emerging as the most immediately severe and contractual insecurity as the most structurally embedded dimension. The paper recommends comprehensive institutional reforms targeting career security, transparent retrenchment frameworks, contractual employment equity, and outsourcing governance as urgent and evidence-backed strategies for restoring employee satisfaction and commitment in Nigeria's banking industry.