General News
HR Crisis, Technologies Defy Financial Sector Strategies

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.
General News
Court Remands Akujobi, Ex Access over alleged Theft of N294.5m

Chinonso Akujobi, former staff of Access Bank in Lagos, has been remanded in Ikoyi prison after she was arraigned on a five-count charge bordering on stealing to the tune of N294.5m.

Akujobi who is being prosecuted by the Economic and Financial Crimes Commission (EFCC) was arraigned before Justice I.O. Ijelu of the State High Court sitting in Ikeja, Lagos.
EFCC alleged that Akujobi stole the money between January and December 2025 while under the employment of Access Bank Plc.
As stated in one the charges, the defendant stole the money through unauthorized payments from the general ledger of Access Bank to her account number 0036668871 with the name Chinonso A., Uchechi A. and Florence A., thereby committing an offence of stealing, contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.
The defendant pleaded “not guilty“ to the charges when they were read to her.
In view of this, S.M.Yabo, prosecution counsel, asked the court for a trial date and also prayed for the remand of the defendant in a Correctional centre.
Justice Ijelu, thereafter, adjourned the case till October 8, 2026, for the hearing of the bail application and the commencement of trial.
The Judge also ordered that the defendant be remanded in the Ikoyi correctional Centre.
General News
NSIB Faults Runway Identification, Reveals Cockpit Disagreement in Asaba Jet Incident

The Nigerian Safety Investigation Bureau (NSIB) says the flight captain of the VMO Aero aircraft that landed on a roadway near Asaba Airport in Delta State told investigators that the observer pilot mistakenly identified the paved road as the runway before touchdown.

The bureau disclosed this in a preliminary report released on Thursday on the June 10 incident, which prompted the Nigeria Civil Aviation Authority (NCAA) to ground the private jet.
The aircraft had seven people on board, including the pilot-in-command (PIC), second-in-command (SIC), an observer pilot, a cabin crew member and three passengers.
According to the report, the aircraft was cleared by Air Traffic Control (ATC) to approach Runway 11 at Asaba Airport after the crew requested a right orbit.
The crew initially discontinued the approach, executed a missed approach and repositioned for a second landing attempt.
NSIB said the crew reported that the aircraft’s navigation systems indicated it was correctly established on the published RNAV Runway 11 approach.
“The PIC and SIC reported that the observer pilot identified the paved surface ahead as the runway,” the report stated.
However, the observer pilot gave investigators a different version of events.
According to NSIB, he said the aircraft remained inside cloud until late in the approach and that the Ground Proximity Warning System (GPWS) repeatedly issued “TERRAIN, TERRAIN, PULL UP” alerts.
He also said he observed a telecommunications mast directly ahead and instructed the flight captain to abandon the approach and climb immediately.
The bureau further disclosed that a cabin crew member reported that one of the passengers became concerned after overhearing discussions among the pilots and asked whether one of them was undergoing training. The passenger was reportedly reassured that all three pilots on board were experienced captains.
NSIB said no abnormal events were reported in the cabin before touchdown.
The aircraft eventually landed at about 8:57 a.m. on an under-construction paved roadway near Asaba Airport instead of the designated runway.
The bureau said its investigation into the incident is ongoing, while the preliminary report highlights conflicting accounts among the cockpit crew over the circumstances that led to the erroneous landing.
General News
EU warns Meta over addictive Facebook, Instagram designs, threatens fines

European Union has warned Meta Platforms Inc. that it could face a significant financial penalty unless it changes what regulators describe as the “addictive design” features of Facebook and Instagram.

The European Commission issued the warning in preliminary findings released on Friday, saying Meta had failed to sufficiently address risks posed by its platforms, particularly to children and vulnerable users.
The Commission said features such as infinite scrolling, personalised content recommendations and automatic video playback were designed in ways that encouraged excessive engagement with the platforms.
EU Executive Vice-President for Tech Sovereignty, Security and Democracy, Henna Virkkunen, said protecting the physical and mental well-being of European citizens should be a priority for social media companies.
The Commission said Meta should consider introducing design changes, including disabling autoplay and infinite scrolling by default, providing effective screen-time reminders and adjusting recommendation systems to reduce the focus on maximising user engagement.
The findings were issued under the European Union’s Digital Services Act (DSA), which sets obligations for major online platforms to address risks associated with their services.
Meta, however, rejected the Commission’s conclusions, saying it disagreed with the findings but would continue engaging with European regulators.
The company said it had already implemented measures aimed at protecting younger users, including Teen Accounts that allow parents to manage screen time limits and restrict access during night hours.
The EU said its investigation, which began in 2024, found that existing time-management tools on Facebook and Instagram could easily be bypassed, while parental controls required technical knowledge that limited their effectiveness.
Regulators also expressed concerns over children’s nighttime use of the platforms and the possibility that features such as Reels and Stories could encourage compulsive behaviour.
If the Commission’s preliminary findings are confirmed, Meta could face a fine of up to six per cent of its annual global revenue under the DSA.
The warning comes as the EU steps up efforts to strengthen online safety measures for children, with an expert panel established by European Commission President Ursula von der Leyen expected to present recommendations on protecting minors online.
Several EU member states, including France, have also supported discussions on restricting social media access for children, following Australia’s decision to ban users under 16 from accessing social media platforms.
Meanwhile, the Commission is continuing a separate investigation into whether Meta’s recommendation algorithms create “rabbit hole” effects by directing users towards increasingly extreme content.
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