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
GenAI Adoption Among African workers Outpace Global Peers

Africa’s workforce is embracing artificial intelligence (AI) at a faster pace than global peers, but pressure is mounting for organisations to ramp up digital skills development as generative AI (GenAI) begins reshaping roles across industries.

This is according to PwC’s Global Workforce Hopes and Fears Survey 2025, which shows a continent ready for AI-enabled transformation, but facing a narrowing window to prepare, through skills development initiatives.
The survey, covering nearly 50 000 workers worldwide and 1 753 across South Africa, Algeria, Kenya, Morocco and Nigeria, finds that African employees are already integrating AI into daily operations.
Sixty-four percent of respondents in Africa used AI tools in the past year, compared to 54% globally, and the sentiment is overwhelmingly positive. While only 17% report using GenAI every day, confidence in its benefits is high: 76% believe GenAI improves work quality, and 72% expect AI-driven productivity gains within three years.
In SA, executives are even more bullish, as 91% say AI has already lifted both productivity and work quality — a signal that leadership is pushing harder toward AI-enabled ways of working, notes the survey.
However, this optimism is coupled with rising concern about future readiness. Only 35% of African workers believe their skills will still be relevant three years from now. With GenAI expected to affect nearly half of all job roles, PwC warns that the continent’s workforce risks falling behind unless organisations accelerate large-scale reskilling.
Despite the pressures, employees are not standing still. PwC notes that African workers outperform their global peers in proactive learning, recording 15% higher participation in skills-building and receiving 6% more support from managers. This indicates that both workers and immediate supervisors recognise the pace of AI adoption and are pushing to adapt.
PwC Africa people and organisation leader, Dr Dayalan Govender, says the moment calls for decisive leadership. Organisations, he argues, must integrate AI into workforce strategies, accelerate digital adoption, and expand upskilling programmes at scale.
“Africa’s workforce is optimistic and ready for change, but leaders must accelerate digital adoption and invest in future-ready skills to convert this optimism into sustainable growth,” he says.
Beyond the technology shift, the survey captures a workforce hungry for growth but constrained by financial pressure. Many employees are preparing to make career moves: 45% plan to request a raise, and another 45% aim for a promotion in the next year. Yet household financial stability remains strained, with only a third of respondents reporting any money left over for savings.
Still, Africa’s workplaces continue to show strong foundations of trust and purpose — elements PwC believes will be critical in navigating GenAI disruption. More than 55% of workers trust management, and two-thirds say their work feels meaningful, both above global averages.
With AI adoption rising and employees motivated to reinvent their careers, PwC warns that the coming years will determine whether Africa’s early optimism translates into long-term competitiveness as GenAI transforms the world of work.
The report calls for embedding AI into workforce strategies to bridge the gap between optimism and practical adoption, scaling upskilling initiatives to prepare for GenAI disruption, and fostering trust and psychological safety to retain talent and drive innovation.
“For employers, these findings are a stark reminder that they can and should do more to help workers understand, adopt, and embrace AI’s transformative power.
“Employers may need to pay special attention to entry-level workers, nearly a third of whom say they’re worried to a large or very large extent about AI’s impact on their future, even as they’re also curious (47%) and optimistic (38%) about its long-term societal effects,” notes the report.
E-Business
Nigeria Records Highest Weekly Cyberattacks in Africa — Report

Nigerian organisations are facing the highest volume of weekly cyberattacks in Africa, according to the newly released African Perspectives on Cyber Security Report 2025 by Check Point Software Technologies Ltd., a global leader in cybersecurity solutions.

The report revealed that Nigerian firms experience an average of 4,200 attacks per week, significantly higher than the continental average of 3,153 and 60 per cent above the global average of 1,963 attacks per organisation.
The findings highlight a sharp rise in attacks across Africa, driven largely by artificial intelligence-enabled threats.
Kingsley Oseghale, country manager for West Africa at Check Point, said attackers are increasingly using AI to automate phishing, impersonation, and cloud exploitation.
“AI has become part of the attack surface,” Oseghale said. “Attackers are using it to automate phishing and identity theft at scale. The only effective response is prevention-first security that combines visibility, governance, and AI protection.”
The report noted that cybercriminals are exploiting exposed identities and misconfigured systems to target critical sectors, including finance, energy, telecoms, and government.
Identity-led intrusions, AI-generated phishing campaigns, and multi-vector ransomware are on the rise.
Across the continent, Check Point identified key trends in different markets. Nigeria is experiencing business email compromise and cloud exploitation; South Africa faces rising ransomware, smishing, and botnet infections such as Vo1d and XorDDoS; Kenya has seen ransomware targeting critical energy infrastructure; and Morocco has experienced coordinated government and education-sector disruptions via DDoS and website defacement attacks.
The report highlights five major shifts shaping Africa’s cyber risk in 2025.
Traditional ransomware has evolved into data-leak extortion, AI-generated deception is widespread, and identity has emerged as the new security perimeter.
Weak cybersecurity, the report warned, can now affect international market access under regulations such as the EU’s NIS2 Directive, making digital resilience an economic necessity.
The study urged African businesses and governments to adopt prevention-first security strategies, including continuous risk assessment, regulatory readiness, and public-private collaboration.
Oseghale emphasised that, as AI reshapes operations, cybersecurity must shift from reaction to prediction.
“The real challenge is not adopting new technology but securing the trust that underpins it,” he said.
E-Business
Jumia’s Data Shows Nigerians Turning to Digital Retail to Navigate Inflation Pressures

As Black Friday 2025 unfolds across Nigeria, new insights from Jumia’s Q3 2025 financial results reveal that more Nigerians are relying on digital retail to navigate inflation and rising living costs.

The data points to a more deliberate, value-driven shopper, one using online platforms to stretch budgets, compare options quickly, and extract more value from each purchase.
Jumia reported a 30 percent year-on-year increase in physical goods orders, while Gross Merchandise Value for physical goods rose by 43 percent.
This stronger GMV growth highlights a clear behavioural shift: consumers are assembling higher-value baskets by combining essentials with premium or long-term household items. Online retail is serving as a tool for strategic planning, not just convenience.
According to Temidayo Ojo, Chief Executive Officer of Jumia Nigeria, Black Friday now plays a more critical economic role. “Households are using digital retail to defend purchasing power. They plan their lists, compare prices instantly, and rely on the reliability and convenience that e-commerce offers,” he said.
This year’s Black Friday trends show growing demand in categories that directly support daily living. Household essentials and FMCG products are seeing significant uptake as families stock up during price drops. Home and kitchen equipment is also experiencing stronger demand as shoppers prioritise practical, durable tools. Affordable fashion and beauty products are gaining momentum as discounts make them more accessible.
Consumer behaviour in the lead-up to the sales period further reinforces this shift. Jumia recorded a notable increase in “Add to Wishlist” and “Add to Cart” activity, signalling more planning and fewer impulse purchases. The gap between GMV and order growth indicates that customers are optimising baskets using bundles, vouchers, and promo combinations, behaviours uniquely suited to digital platforms.
With inflation intensifying the need for smarter buying, trust markers on Jumia, such as verified sellers, official brand stores, ratings, and clear return policies, are becoming more central to decision-making. Authenticity and durability now outweigh the appeal of the lowest price.
Jumia’s logistics footprint is making these benefits available nationwide. Its 30,000 sqm Isolo fulfilment centre, 480 pickup stations, and 62 logistics partners ensure that customers in secondary and peri-urban cities enjoy the same deals as those in major hubs, reducing travel burdens and adding financial value.
Overall, Jumia’s Q3 data and Black Friday trends show that Nigerians are turning to digital retail as a practical, strategic response to inflation, using e-commerce to manage budgets, preserve purchasing power, and make more informed buying decisions.
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