News
Resilience of the Labour Markets During COVID-19

Gregory Kronsten
It is said by some analysts thatCOVID-19 is responsible for irreversible changes in our economies, including patterns of employment. It was therefore a revelation to read the latest national income dynamics study-coronavirus rapid mobile survey (NIDS-CRAM) from South Africa.

Based upon a sample of 10,000 individuals, wave 3 (the most recent published data) shows that active employment in the country in October was just 0.15 per cent lower than the level in pre-COVID February.
The recovery has been strong. In April, when the domestic lockdown was at its height, employment was 40 per cent lower than in February and in June, when most restrictions had been eased, it was still 20 per cent down. Additionally, the data suggests that the recovery has been in all forms of employment, and not just part-time posts created by employers nervous about future economic prospects.
The three academic authors of the section of the surveys covering the labour market, two based in the US and one in the UK, noted similar trends in other emerging markets (EMs): from the low point in April, the recovery was well underway by June in Brazil and Mexico, and by August in India and Ghana.
Closer to home, we refer to COVID-19 impact monitoring, a series of publications by the National Bureau of Statistics (NBS) in partnership with the World Bank. The narrative is similar from the sixth and latest instalment of this smaller survey, which covers 1,950 households: 87 per cent of respondents were employed in October, compared with 86 per cent at the pre-COVID base (mid-March).
Reflecting the structure of the economy, households are divided between urban and rural. Employment was a little behind March for the former, a little ahead for the latter.
A clear trend is apparent across selected emerging markets. There is a familiar lag in the release of data from academic sources, research foundations and official statistical bodies. Job losses may have picked up again in South Africa due to the resurgence of COVID-19 and reimposition of some restrictions in late 2020/early 2021. This does not detract from our broader argument that these economies display resilience in employment terms once controls are eased.
We are not looking for parallels with advanced economies because of a point we have often made in these columns: that they have fiscal and other resources on a scale of which emerging market governments can only dream. You can close down the economy and pay your employed citizens not to work through a furlough scheme in an advanced economy.
You can then reopen the economy and subsidize meals out for the family. In EMs your choices are far more limited. A core tool of the South African government, for example, is its social relief of distress grant, which is received by 35 per cent of all households.
Three other conclusions from the three waves of NIDS-CRAM are worth highlighting. First, the employment trends are consistent with monthly production data from Statistics South Africa, the local counterpart of the NBS. This is true of mining, manufacturing and retail but not, for obvious reasons, of tourism.
Second and tentatively, there has been an unusual increase in jobs in sales and services. Thirdly and again cautiously, earnings may have risen slightly between February and October.
If we attempt to read across to Nigeria, we do not have the data for the first two conclusions while the fourth instalment of COVID-19 impact monitoring noted that two thirds of households surveyed reported a fall in earnings.
Gregory Kronsten is Head, Macroeconomic and Fixed Income Research, FBNQuest
News
NCDC Issues Public Advisory on Cerebrospinal Meningitis

Nigeria Centre for Disease Control and Prevention (NCDC) has issued a Public Health advisory on the spread of Cerebrospinal Meningitis (CSM).

It said that the caution is particularly for states within the African Meningitis belt.
In a statement by the Corporate Communications Division of NCDC urged all Nigerians to remain vigilant and adopt preventive measures.
The statement said: “As Nigeria continues through the peak dry season months, the Nigeria Centre for Disease Control and Prevention (NCDC) alerts the public to the ongoing risk of Cerebrospinal Meningitis (CSM), particularly in states within the African meningitis belt.
“Cerebrospinal meningitis occurs more frequently between December and April, when dry, dusty conditions, overcrowding, and poor ventilation increase the risk of transmission.
“The NCDC urges all Nigerians to remain vigilant and adopt preventive measures. Surveillance and response activities remain ongoing nationwide, and laboratory testing is being conducted at the state level while national laboratory capacity is being strengthened.
It explained that Cerebrospinal meningitis is a serious infection of the protective membranes covering the brain and spinal cord.
According to NCDC the affliction is most commonly caused by bacteria, particularly Neisseria meningitidis.
“Bacterial meningitis can progress rapidly and may be fatal within hours if untreated.
“However, early diagnosis and prompt antibiotic treatment significantly improve survival and reduce complications. CSM spreads through respiratory droplets during close contact, especially in overcrowded or poorly ventilated environments.”
It said that symptoms to watch out for include sudden high fever, severe headache, and neck stiffness.
It said other symptoms may include: nausea or vomiting, sensitivity to light, confusion or altered consciousness and seizures.
For In infants and young children, NCDC said the symptoms could bulging soft spot on the head.
The Centre said that early recognition and treatment can save lives.
News
Report finds the Number of Trojan Banker Attacks on Smartphones Increased by 56% in 2025

According to a Kaspersky report “Mobile malware evolution,” the number of Trojan banker attacks on Android smartphones increased by 56% in 2025 compared to the previous year*.

This type of malware is designed to steal user credentials for online banking, e-payment services and credit card systems. Cybercriminals commonly distribute Trojan bankers through messaging apps, as well as through malicious webpages.
The number of new Trojan banker installation packages for Android (unique APK files) also increased sharply, reaching 255,090 packages – a 271% increase over 2024. This may indicate that these tools generate substantial profit for cybercriminals.
Kaspersky experts believe threat actors will continue both to expand delivery channels and develop new Trojan variants trying to evade detection by security solutions. Among all detected Trojan bankers, the leading families were Mamont and Creduz.
“Although Trojan bankers for smartphones are the fastest-growing type of malware, we also observed another important trend: preinstalled backdoors such as Triada and Keenadu appeared more frequently compared to previous years. People purchase completely new, but infected, Android devices and may be unaware of the threat.
Once integrated into the firmware fully functional preinstalled backdoors provide attackers with unlimited control over the victims’ smartphones and tablets. As a result, all information on infected devices can be compromised.
It’s quite difficult to remove such malware. If the device is infected, we recommend users check for firmware updates. After the update, run a scan of the device with a security solution again to make sure newly installed firmware is not infected,” comments Anton Kivva, malware analyst team lead at Kaspersky.
News
FG Can Now Track, Prosecute Visa Overstayers – Interior Minister

Federal Government has said it now has the capacity to identify and apprehend foreigners who overstay their visas in the country.

Minister of Interior, Olubunmi Tunji-Ojo
The Minister of Interior, Olubunmi Tunji-Ojo, disclosed this on Thursday in Abuja during the 2026 Sectoral Performance Review Retreat of the Federal Ministry of Interior.
Tunji-Ojo said the government now possesses comprehensive data that enables authorities to track individuals who have entered the country over the past decade and determine those who have failed to comply with their visa conditions.
According to him, the development followed the establishment of an Integrated Operations Centre and a Network Operations Centre by the Nigeria Immigration Service.
The minister, however, said the FG will go after foreigners who have overstayed their visas, adding that outside of the country, Nigerians are not being spared.
He said, “In NIS, I know we are doing a lot already. As of today, we have been able to build our Integrated Operations Centre and the Network Operations Centre, which we never had before.
“With that, we can access, in the last 10 years, everybody who has entered, where you came from, everything, we have all your records, we have everything, we know the exact people who have overstayed in our country, and we will go after them, with due respect, because, outside of Nigeria, they go after the irregular immigrants and we think we have to protect the sanctity of our borders,” the minister stated.”
The minister also stressed the need for reforms across agencies under the ministry, including the Nigeria Security and Civil Defence Corps, to ensure services are delivered transparently and without corruption.
Tunji-Ojo said the goal of government institutions should be to protect citizens, particularly the most vulnerable in society.
NSCDC provides protection in an organised and corruption-free manner, where the son of a nobody will have the same opportunity as the son of anybody in government.
“If you are a businessman or there is a genuine threat to your life, you should be able to access protection without going through the minister, the Commandant General, or anyone else. It is only then that we can truly say we have a service that works for Nigerians.
“Nigeria should not be about selective service delivery. The essence of government is to protect everyone, with greater emphasis on protecting the weakest in society, ” he said.
Speaking on correctional reforms, he argued that a system where individuals repeatedly return to custody reflects a failure of rehabilitation.
“Anybody who goes in there must be reformed and transformed,” he said, adding that the objective was to reduce cases of repeat offences to the barest minimum.
In her remarks, the Permanent Secretary of the ministry, Magdalene Ajani, emphasised the importance of accountability in leadership.
She said leadership was about “devotion, promises, performance, and impact,” noting that the ministry’s agencies play critical roles that affect the daily lives of Nigerians and therefore require transparency and effective service delivery.
The move to go after foreigners who overstay their visas comes amid renewed efforts by the Federal Government to strengthen border management and enforce immigration regulations across the country.
This definitely would allow immigration authorities to track the movement of travellers and identify individuals who remain in Nigeria beyond the duration permitted by their visas.
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