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HR Crisis, Technologies Defy Financial Sector Strategies

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Global financial services organizations are struggling to align risk management frameworks, culture, and talent to achieve change, a new report has found in four key areas.

According to findings in the Risk, Culture, and Talent in Global Financial Services report released by Deloitte Touche Tohmatsu Limited (Deloitte Global), at the weekend, senior financial services leaders including CEOs, CFOs, CHROs and CROs decried the impact of grappling with several risk and regulatory environment related issues.

Speaking on the report, Heather Stockton, Deloitte Global Human Capital Financial Services Industry Leader, said, “At Deloitte we believe executives and business leaders must work together to drive change in order to create an environment that can quickly adapt to the ever changing demands of the regulatory landscape.

“Our goal with this report is to explore these opportunities and help enable a dialogue among key business leaders on how to address the importance of organization, culture and talent in managing organizational risk.”

The global survey findings offer four key areas of opportunity for organizations to navigate the current and future regulatory environment.

They include, risk, culture, and talent in global financial services and reinforce the need for increased CXO accountability and additional clarity regarding the board’s role in providing increased stewardship, governance and management of talent-related risk.

Others are, reframe talent, compensation and performance management programs to reflect risk management tenets and refine the culture to move toward one of trust and ‘risk intelligence’ where everyone understands the organization’s approach to risk, takes personal responsibility to manage risk, and encourages others to follow their example.

The survey found only 36% of respondents indicated HR risks are included as part of the risk management framework suggesting an opportunity to expand risk management’s focus on people in addition to controls.

Similarly, 67% of survey respondents said active leadership involvement is required to manage risk. C-suite leaders and the board must serve a more prominent role in driving risk governance and demonstrate stewardship in managing risk.

Also, compensation and rewards are falling behind performance management in ensuring alignment with the risk framework.

Among those surveyed, there is without a doubt a strong momentum to addressing talent management representing 80% of respondents and culture (69%) in light of increased regulation and risk requirements.

In the survey 61% of respondents have seen no increase in behavioral indicators, such as personal responsibility for the management of risk; and 57% of respondents have seen no increase in the alignment of individual interests, values, and ethics with those of the organization’s risk strategy, appetite, tolerance, and approach.

“This report makes it clear that in order to be successful in today’s highly regulated environment, business, talent and risk leaders across the organization must engage in continued, focused and open dialogue,” said Stockton. “Financial services organizations that consider how they can reinforce, reframe and refine their approach to risk management will be well-positioned to demonstrate that embedding risk practices in the fabric of the organization is an enabler of success and longevity.”

Deloitte Global had announced the launch of the Deloitte Center for Crisis Management to provide clients with Deloitte’s breadth and depth of solutions in an integrated crisis management service through its global member firm network (Deloitte).

Equipped to handle the growing severity and frequency of crises, whether natural or manmade; economic, political, financial or technological, the Center will deliver a high-level of crisis readiness.

Elsewhere, financial fraud and, especially cybercrime, are growing exponentially.

The latter costs the global economy over US $400 billion1 a year.

In 2013, 70% of companies surveyed suffered from at least one type of financial fraud resulting in a loss of 1.4 percent of revenues.

Natural and environmental disasters also continue to create crises for businesses; the world saw 300 natural disasters in 2013 alone.

Regardless of the nature of the crisis, how a company prepares for and reacts to it can determine the extent and duration of reputational damage.

Add to that, a greater intolerance for reputational risk among business leaders.

According to a recent survey of c-level executives, board members, and risk-executives, reputation was cited as the leading strategic risk facing companies.


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NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

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NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.

NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.

It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.

Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.

Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.

The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.

NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.

 

 


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Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

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Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Consequently, banks, schools and offices nationwide will be shut for the two days.

The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.

Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.

The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.

During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.

Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.

It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.

Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.

He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.

The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.

He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.


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New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

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Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Mr. Tim Akano

The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.

This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.

New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.

In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.

As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.

The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.

The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.

New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.

Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.

Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.

He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.

He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.

Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.

He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.

By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.

Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.

As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.

The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.


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