E-Business
Mass Resignation of Software Engineers Disrupts Banks Digitisation Move

The mass resignation of software engineers in most commercial banks across the country for greenerpasture abroad, is currently threatening digitisation in the banking sector.
According to Leadership, this is coming as a disincentive to the cashless banking initiative, where every banking transaction is expected to be digitised.
However, the development is obstructing seamless operation of electronic and mobile banking systems across banks.
It was learnt that about 500 software engineers have, since the beginning of this year, till now, secured better offers abroad, majorly in Canada and European countries where the emolument far outweighs what they are being paid in the Nigerian banking sector as they are paid in foreign currency at a time the nation’s Naira has seriously depreciated.
Aside these 500 engineers, about 1,000 other staff have so far resigned their appointments in deposit money banks to pick up juicy offers abroad, even as there are indications that more engineers and bank staff will also join them in the months ahead as the nation’s economy becomes harsher and operating environment becomes unbearable.
The development has disrupted the succession plan of many banks as more bank staff seek greener pastures outside the country.
This mass exodus, investigation shows, was responsible for hitches in electronic and mobile banking operations of most banks in the country as they struggle to find suitable replacements for those that have left their services.
Complaints from bank customers on electronic and mobile banking platforms have intensified in recent months, making it obvious, the challenges facing the banking system.
Over the last few months, thousands of Nigerians have moved out of the country either as students or have gotten jobs outside the country.
These have affected most industries across the economy but the banking industry is beginning to feel the brunt of it. The situation has gotten so bad that it came up as an issue for discussion at the Bankers’ Committee meeting which held in April this year.
For example, a major bank in the country, having noticed the trend of resignations, had earlier moved up its promotion process as a way to encourage the staff to remain.
The bank had even increased its package for the workers and promoted 450 staff. Unfortunately, less than two weeks after the promotion, over 150 of those promoted resigned and left the country.
With no bank spared the exodus of talents, the bank chief executives had resorted to finding a solution to the brain drain by coming together to train more staff for their depleting human resource.
Abubakar Sulieman, managing director and chief executive of Sterling Bank, at the end of the Bankers Committee meeting in April this year had noted that banks in the country will be collaborating with the Chartered Institute of Bankers of Nigeria (CIBN) to increase training particularly in the software engineering area.
Sulieman affirming that the issue had come up at the Bankers Committee, said: “we extensively discussed the impact of the great resignation, where with so many of varied experience talent, especially in the areas of software engineering, either leaving the industry or leaving the country.”
Thus, he said, the banks had committed to using industry platform, the CIBN, to drive the process of training more skills in the areas where there has been evident deficit.
This, he said, is “in the hope that this would improve the availability of talent within the banking sector to drive innovation. This will be funded by the industry and will be part of our contribution towards talent development.
Speaking with Leadership at the weekend on this development, Mr. Ken Opara, president of CIBN, noted that, the industry is currently suffering from talent drain.
According to him, “this year alone, there is a whole lot of resignations and people leaving the industry particularly the younger ones. The figure is quite high.
Opara had noted that the talent drain in the sector is “basically because they feel that they need an environment where they can guarantee their job security and have a flexible working environment and also the fact that you don’t need to always dress officially to do your job, you don’t need to wear suit or tie. Where you don’t necessarily need to be in the office to do your job and can work remotely. The concept of remote working is what appeals to them.
“The concept of flexible working hours where you can work in one place and in other places is also what appeals to them. The concept of having to dress casual is also part of what appeals to them.
Then of course the fact that they don’t need to be in a particular place for a long period of time as much as possible.”
For the Information and Communication sector, the story is not so different as a lot of tech developers are either leaving Nigeria in search for ICT job that pays better or working remotely, LEADERSHIP findings have revealed.
Recruiting in the tech industry is on the rise, with foreign companies reporting they are hiring “at or beyond pre-pandemic levels,” the Robert Half Technology’s 2022 IT salary report revealed.
The most in-demand tech jobs for 2022 are Information security analyst, security analysts, Software developer, Network and computer systems administrator, Computer programmer, web developer, Computer and information systems manager and system analyst, among others, said CIO.
Martins Akingba, managing director and CEO, eStream Network, told Leadership Newspaper that brain drain is a major challenge in the ICT sector, as a lot of developers have migrated to other countries in search of greener pastures.
However, the CEO said majority of business owners have decided to go into automation. “We implement processes on systems that automate our operations, such that even when people go, it will not disrupt our business,” he explained.
Though, there is no statistic that revealed tech workers’ migration, the President of Institute of Software Practitioners of Nigeria (ISPON), Mr. Chinenye Mba-Uzoukwu, told LEADERSHIP that there is a trend in recent times.
The reason for that is not far-fetched, Mba-Uzoukwu said, adding that, most institutions in Nigeria have not fully deployed local solutions to local problems.
Majority of the IT-enabled organisations in the country still depend on foreign countries for solutions.
When asked if there are software developers to meet the needs of organisations in the country, Mba-Uzoukwu said: “Nigeria as a country is blessed with great software developers. We have programmers who have come up with several solutions to our local problems, but organizations sometimes don’t patronise them, as they prefer to import solutions or software from China and other countries.”
Banks’ Senior Staff Lament Redundancy
Engr. Gbenga Adebayo, president and founder of Royal FM 95.1Mhz Ilorin, , at the 5th Students Union leadership Summit of Kwara State University, said, it will be difficult to talk about a better Nigeria without considering the negative impact of mass migration of youthful population on the economy and its future.
Adebayo said migration may imposes high human capital cost for the country by leaving the country without the human capital necessary to achieve long-term economic growth.
He revealed that the migration problem is due to lack of employment and social guarantees on the young population and not due to any political persecution.
“The most negative impact on our country is the fact that young graduates (and our highly skilled professionals) leave the country for better opportunities. Today many of our engineers, IT specialists, doctors, nurses, engineers, and very brilliant professionals are lost to other countries,” he added.
Adebayo said, Nigeria has great potentials, adding that, “we are blessed with many natural resources, we are free of many natural disasters, a large proportion of our population are young people an age bracket that mist of you in this hall belong to, if you JAPA the country will rely on foreigners for needed skills in the future.
E-Business
MRA Flags AI Concerns ahead of Press Freedom Day Today

Media Rights Agenda (MRA), has unveiled a visual brief emphasizing the critical need for responsible and ethical use of Artificial Intelligence (AI) in journalism, particularly within Nigeria’s evolving media environment.
This is coming ahead of World Press Freedom Day today.
The visual brief, developed under this year’s global theme, “Reporting in the Brave New World – The Impact of Artificial Intelligence on Press Freedom and the Media,” explores the opportunities and dangers AI poses to media freedom in Nigeria and across the world.
In a statement released in Lagos by John Gbadamosi, its programme officer,MRA noted that AI is quickly changing the way news is produced and consumed, adding that it offers powerful tools that can assist journalists in analysing data, translating stories into local languages, and extend the reach of vital information, especially to underserved areas with limited media infrastructure.
Gbadamosi added that AI can help to ensure that essential news and information are also disseminated to local communities.
However, Gbadamosi warned that the same technology is being weaponised to undermine truth and press freedom, saying: “While AI can be used to advance journalism, it can just as easily be exploited to spread disinformation, create deepfakes, and drown out independent voices with algorithmically generated propaganda.”
According to him, “In Nigeria, journalists face threats that go beyond just physical dangers; such threats now also encompass digital, algorithmic, and systemic harms and challenges, which requires media professionals to ensure that AI enhances, rather than undermines, media freedom and that technology is used to promote the truth, not distort it.”
“The visual brief breaks down key concepts like misinformation, disinformation, mal-information, and information overload, which are increasingly shaping Nigeria’s digital media ecosystem. It also raises concerns about AI-enabled surveillance, political manipulation, and the marginalisation of community-based journalists.”
Gbadamosi stated that the visual brief also advocates support for independent media, transparent AI regulations aligned with Nigeria’s context, increased digital literacy, and stronger accountability from tech companies regarding platform content and influence.
He therefore urged all stakeholders to advocate for responsible AI usage and a free, independent, professional and vibrant media environment in Nigeria, stressing that “when media freedom thrives, democracy lives.”
E-Business
Nigerians to Pay More for IDs as NIMC Raises Service Fees

The National Identity Management Commission (NIMC) has raised the fees for all its products and services, including charges related to data modification on the National Identification Number (NIN) database.
In a statement issued in Abuja, Kayode Adegoke, NIMC’s Head of Corporate Communications, announced that the updated service fees are published on the commission’s official website.
Adegoke noted that the new pricing structure for NIMC’s services and products marks the first comprehensive review of its fees in over a decade.
The statement stated that the revised pricing is designed to align with prevailing operational costs and industry standards, while continuing to ensure that services remain accessible and affordable for all Nigerians.
The statement warned its Front-End Partners (FEPs) to comply with the newly approved rates, stating that any failure to do so could attract strict sanctions, including possible license revocation.
“The new structure ensures that the quality and integrity of our services remain uncompromised. We are committed to protecting the interests of Nigerians through fair and transparent pricing,” the statement read.
NIMC urged the public to report any Front-End Partners (FEPs) found charging beyond the approved rates. Reports can be directed to the Commission’s Inspectorate and Enforcement Unit via email at ieu@nimc.gov.ng
It further reaffirmed its commitment to delivering secure and dependable identity services. A complete list of the revised service fees can be accessed on its official website at www.nimc.gov.ng.
In a related development, Abisoye Coker-Odusote, Director General of the National Identity Management Commission (NIMC), expressed sincere appreciation to President Bola Ahmed Tinubu for his unwavering support in enhancing the National Identity Database (NIDB).
She also extended her gratitude to the Minister of Interior, Dr. Olubunmi Tunji-Ojo, and other key partners for their pivotal roles in advancing a sustainable and effective identity management system.
E-Business
PwC says AI Adoption by African Businesses will Unlock Growth

Artificial intelligence (AI) adoption could boost Africa’s gross domestic product by an additional 4.9 percentage points by 2035, as the African economy is reshaped by the emerging technology.
This is according to PwC’s recently released report: Value in Motion. It is based on data-driven scenario analysis, which reveals that globally, AI has the potential to boost economic output by up to 15 percentage points over the next decade.
The global growth dividend from AI varies according to the region and depends on more than technical success – it also hinges on responsible deployment, clear governance, and public and organisational trust, notes the report.
This would effectively add one percentage point to annual growth rates − on par with the growth increment the world began enjoying with 19th century industrialisation.
In other scenarios analysed by PwC, characterised by lower trust and co-operation, the incremental boost to the economy from AI would be more muted at 8%, or in a pessimistic scenario just 1%.
The research finds that rapid reconfiguration of the economy is already under way. PwC analysis indicates the pressure for African businesses to reinvent themselves is at some of the highest levels seen in the last 25 years across six out of nine sectors in Africa.
The $150.54 billion in revenue in Africa is set to shift between companies in 2025 alone, a trend that begun prior to the recent global increase in tariffs.
PwC’s research suggests that over the next decade, industries will reconfigure to meet human needs in new ways, leading to the formation of new ‘domains’ that cross traditional sector lines.
Dion Shango, PwC Africa CEO, explains: “As the structure of the economy transforms, value will increasingly come from organisations that can connect the dots across traditional industry boundaries. By focusing on evolving customer needs and using technology to dramatically change the way business operates, business leaders can unlock a step change in growth.”
According to Google’s Digital Opportunity of Africa report, AI could contribute up to $30 billion to Sub-Saharan Africa’s economy by 2030. Africa stands to accelerate its growth through AI as more people gain connectivity and harness technology for good, it notes.
“Across the continent, a new generation of innovators are harnessing technology to solve some of the world’s most pressing challenges,” says Google.
In terms of AI’s impact on the climate, PwC’s analysis shows that while AI is set to accelerate growth, the costs of physical climate threats will impose economic constraints.
PwC’s economic modelling suggests that physical climate impacts could result in the African economy being over 12%smaller (globally: 7%) by 2035 in all scenarios than it would have been otherwise.
“Increased AI adoption is expected to lead to increased energy use by data centres. However, modest use of AI to drive energy-efficiency could offset this increased use of energy. PwC estimates that the energy use and emissions impact of AI would be neutral if each additional percentage point of AI use led to innovations which cut energy intensity by just 0.1% globally,” says the report.
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