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.
Ozi (www.ozionline.com), a pioneer community-driven delivery app, launches, offering users a new way to send packages and earn extra cash.
L-r: Co-Founders of Ozionline.com: Ikenna Ani (CEO), Azubike Augustine (COO) and Engr. Christian Chime (CTO)
By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, currently valued at around $460 billion.
Imagine this scenario – You’re traveling to Abuja from Lagos and have empty space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or maybe you’re a small business owner who needs to send a package to another state but balk at the high cost of courier services.
With Ozi, you can find a verified traveler heading in the right direction to handle your delivery, Engr. Christian Chime, Ozi’s co-founder and CEO, said during the startup launch held at Four Point by Sheraton, Victoria Island, Lagos.
“Why travel empty when you can earn?” asks Engr. Chime said. “Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease.”
“This simple yet powerful idea leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.
“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits”.
He said that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.
“Actually, we had the opportunity to launch OZI in another country outside Nigeria but for our thrust in the Nigerian dream and its potentials made us choose the country as the first to witness Ozi’s innovation”, Engr. Chime said.
“Travelers can now monetize their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.
Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips, Ozi offers an affordable, efficient solution for all.
Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone.
In the words of Azubuike Augustine, the co-founder and Chief Technology Officer of Ozi, “Ozi’s mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process.
“By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created”.
“Ozi prioritizes safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable”.
To enhance security further, the CTO said that Ozi offers real-time tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability.
“At Ozi, we understand that trust is critical in logistics,” the Azubuike added. “That’s why we’ve built a platform where every step is designed to safeguard both the traveler and the sender.”
“Ozi is more than an app; it’s a community where everyone wins,” said Ikenna Ani, co-founder/COO of Ozi.
“From today, travelers across the globe can sign up through www.ozionline.com and start making every trip count”, he said. “We have put measures in place to ensure only genuine and verified travelers or senders use the platform. Security is primary for us”.
Ikenna added that the app will be released on Google Play Store and Apple (iOS) on January 1, 2025. Ozi Live on Instagram | Facebook.
Temu is set to enchant the holiday season with its unique blend of green magic, bringing a touch of festive wonder to Christmas celebrations. The initiative, themed “Ride the ‘Wicked’ Wave,” promises to deliver an unforgettable experience, combining technology, entertainment, and commerce to create a magical holiday atmosphere.
Temu’s green magic initiative aims to captivate audiences with a variety of festive offerings, from fashion to home decor, handmade crafts, beauty items, chic clothes, shoes, and more.
The platform’s innovative approach ensures that customers can enjoy a seamless shopping experience, with free shipping on all orders1.
As part of the celebration, Temu has also introduced a magical winter Christmas backdrop, perfect for creating a festive ambiance at home.
This backdrop, made from high-quality polyester, is designed to bring the spirit of the season to life, making it an ideal addition to any holiday decor.
With its commitment to providing exceptional products and services, Temu continues to set new standards in the e-commerce industry, ensuring that customers can enjoy the magic of Christmas in style
With the holiday season here, it’s not only a time for magic and celebration but also a prime opportunity for fraudsters to exploit the festive rush for gifts and bargains.
Amid the sparkle of year-end celebrations, cybersecurity experts at Kaspersky have identified several prominent scams targeting consumers across various regions and languages.
Fake holiday shops
Deceptive online stores mimic the look and feel of legitimate e-commerce sites, offering seasonal items such as decorations, gifts, and even trees at steep discounts.
These sites often appear highly localised, adapting their language and currency based on the user’s geographic location, leveraging data extracted from browsers.
Victims typically encounter these stores by following links in ads or pop-ups.
These sites aim to steal funds. Often, these fraudulent stores exist only for a short period, as they get flagged by the vendors of goods.
Free mobile data offer
This scam plays on the allure of free services, claiming to provide free mobile data valid across all major telecom providers.
In order to receive the free data, victims are required to share the promotion link with 10–15 contacts via WhatsApp, ensuring the scam spreads exponentially.
After sharing, victims are prompted to enter their personal details — name, phone number, and email — into a form.
The collected data is then sold on the Dark Web or used in other fraudulent activities.
In some cases, victims unknowingly download malware that compromises their devices, leading to further exploitation.
Holiday payments on behalf of government agencies
Fraudsters impersonate government authorities, promising fictitious payments in celebration of the holidays.
This scam has been reported in several African countries, including Kenya and Nigeria.
To receive payment, victims are directed to fill out a survey which requires personal details like name and phone number.
Once the survey is completed the user is asked to share the link to the announcement with their connections via WhatsApp.
These details are collected and added to fraudulent databases, then sold to third parties or used for phishing attacks and identity theft.
This scam exploits trust in government systems and the festive spirit of giving.
Christmas recipe scam
This scam begins with a seemingly harmless email promoting a holiday cake recipe.
Victims are encouraged to pay a small fee to access the recipe.
Once payment is made, the victim’s credit card information is stolen. The fraudsters also collect other personal information essential for accessing banking services.
“Holiday scams are not a new phenomenon, but they have evolved to become increasingly sophisticated, leveraging regional traditions and technology to exploit unsuspecting victims.
The rush of the holidays makes people more vulnerable — they’re distracted, eager to grab a deal, or trust promotions that align with festive themes. Cybercriminals are not just stealing money — they’re building massive databases of personal information that fuel future fraudulent schemes.
The holiday season is a time for joy and giving, but users need to remain vigilant to ensure they’re not unknowingly giving fraudsters the tools to exploit them further,” said Olga Svistunova, Senior Web Content Analyst at Kaspersky.
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