The spate of migration among bankers in the country is giving stakeholders reasons to worry. DEBORAH DAN-AWOH writes on how japa has worsened the skilled manpower gap in the banking industry

A former teller at Sterling Bank, Gift Akpan, left the shores of Nigeria for the United States to pursue her dreams. Gift told SUPERS.ng that she had always wanted to travel but decided to gain hands-on experience in the local job market first and raise money to facilitate her migration.

“I graduated from the University of Ibadan as the best student in my set. I had always wanted to pursue my graduate studies abroad. So, immediately after my bachelor’s degree, I planned to travel, but I wanted to get some industry experience for a year or two before furthering my studies abroad. After university, I applied for many jobs and wrote tests.”

Akpan eventually became a teller with Sterling Bank as an outsourced member of staff. It meant that she had to earn lower than other tellers who had regular employment with the bank.

“This was a role that the bank employed National Diploma graduates and IT students for, so when a bachelor’s degree holder like me got in, there was segregation. As tellers, we had to work from 7:30 am to 9:00 pm.

She explained that the working conditions were terrible. “I had colleagues who would come to the office and not eat for the whole day because they couldn’t get up for a break. Because we were tellers, we received bad treatment. They use you so much and pay very little.”

After battling the challenges that came with the job, Akpan said she finally gave in and left the country.

Similarly, the head of the Brand and Communication Department of one of tier two banks who does not want his name mentioned in print resigned and relocated with his family to one of the European countries.

He had spent over 15 years as a banker and attended much training in the course of his job in the bank.

He pointed to the state of the country’s economy and security situation as reasons for his migration.

Akpan’s story reflects what many young people working in the banking sector go through, which has been the reason they decided to migrate to Western countries for greener pastures. Many of them have cited meagre salaries, poor working conditions, inflation and insecurity as reasons for relocating out of the country.

Japa, the slang for migration in Nigeria, which literally means escape, has seen the country many of its skilled manpower to countries such as the United Kingdom, USA, Canada, etc.

The banking sector has been one of the most hit by the japa syndrome, as many bankers have left the country in recent times.

In June, a report by the United Kingdom Home office stated that Nigeria recorded the highest number of migrants to the United Kingdom, thus becoming the third largest nationality group in the country.

According to the report, “The number of sponsored study visas granted in the year ending June 2022 is the highest on record in our time series, with the substantial increase representing both a recovery from lower numbers during the COVID-19 pandemic but also an increase on the pre-pandemic period.”

Mass resignation

A source from Access Bank told SUPERS.ng that various branches had recorded massive resignations in the last two years.

“It started like two years ago, immediately after the COVID-19 pandemic. Everybody started feeling uncomfortable, saying what next? What will happen? And, of course, the floor was opened for people to travel. You know we have different types of visas. Also, everything boils down to the information at your disposal.”

The source said that one of the bank’s branches did not open for three days, because the branch manager, head of operations and cash officer left the same month.

“So, they could not open, and the head office had to intervene,” he said.

According to the source, most bank employees who want to migrate usually use their annual and from there forward their resignation letters, adding that most of them did not resign directly before migrating. They go through their annual leave.

The source stated, “A lot of people are resigning, This December alone, a lot of people crossed over. So, in May now, they should expect another set of massive resignations. People are leaving every day. For instance, out of 100 members of staff, 30 to 40 have resigned. It will create more job vacancies, and they will recruit more staff.”
Talent gap widens

The increasing brain drain in banks is already taking a took on the financial sector. Access to finance to fund their migration expenses has made the sector susceptible to brain drain.

Banks spend a huge amount of money to recruit fresh hands to replace skilled manpower who have migrated.

According to the National Bureau of Statistics, Nigeria’s unemployment rate currently stands at 33.3 per cent.

Despite the huge unemployment rate in the country, the country has been grappling with a paucity of employable graduates due to the poor state of the country’s education.

Japa has led to growing concerns that the relocation will cause a shortage of skilled manpower.

Speaking with SUPERS.ng recently, Director-General of Nigeria Employers Consultative Association, Adewale Oyerinde, said in terms of relocation, India comes first, followed by Palestine and then Nigeria in the context of migration to the United Kingdom.”

“So, it is not a strange thing. Sometimes, when there is the mobility of labour, people will move for many reasons apart from the two predominant reasons, which are economic and security reasons.

“It creates talent issues because businesses also need very strong hands and competent workforce to be competitive and to grow. So, if those workforces are moving, it creates a gap within the system, and some have said every problem creates an opportunity.

https://supers.ng/japa-skilled-manpower-shortage-hits-banks/

When you have a failed system it affects every aspect of a country's economy

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