In the last three weeks, bank customers across the country have had cause to complain about poor services by lenders, especially with regard to tech application delays and outright failure. Funds transfer among customers in some cases now take an upward of two weeks to either drop in the receiver’s account or reversed to the sender.

Besides this obvious development, information is rife that most of the banks are working round the clock to manage internal tech problems that have suddenly hit them due to mass resignation of tech experts, who are travelling out of the country for greener pastures.

Besides the current wave of managing the crisis, the fear of succession has also gripped some of the establishments as the old hands are likely to end up not having anyone to take over from them. Fears that the quality of ser vice provided by the banks in the country might even worsen in the coming months are growing, findings by New Telegraph has shown.

Wave of resignations Indeed, industry sources believe that banks are set to be hit by a great wave of resignations in September as a lot of their employees are booked to obtain their visas by the end of this month. At the post-Bankers’ Committee meeting press briefing held in April, the Chief Executive Officer of Sterling Bank Plc, Abubakar Suleiman, told reporters that the industry had been hit by an exodus of tech talents.

He said: “So many of our very experienced talents, especially in the area of software engineering, are either leaving the industry or leaving the country,” a development he referred to as a “great resignation.”

Suleiman stated that the Chartered Institute of Bankers of Nigeria (CIBN), the umbrella professional body for lenders in the country, would “drive the process of training more skills in the area where we see deficits,” adding that the bank CEOs at the meeting discussed plans to fund training for new tech-focused staffers to replace those who have left.

There have been reports on social media in recent times that Nigerian banks are facing frequent system breakdown and other ITrelated challenges as most of their tech engineers have resigned to join digital firms in the country’s booming fintech sector, especially the global conglomerate, Amazon, which began operations in Nigeria’s e-commerce space a few months ago.

Attractions

However, New Telegraph gathered that it was not only techfocused staff of the banks who are quitting to take up juicy appointments both within and outside the country.

An Assistant Head of Operations at the branch of a Tier 1 bank, who spoke on condition of anonymity, told New Telegraph’s correspondent that he recently obtained his visa to pursue a Masters degree programme in the United Kingdom and would be leaving the country with his family next month.

According to him, he decided to apply for the visa, following encouragement from several former colleagues who resigned in the last few months and have secured jobs or admissions for post graduate programmes either in Europe or Canada.

The bank official said: “Despite the fact that the tough economy in Nigeria has been leading many bank staff in the last seven years to resign to seek better opportunities outside the country, I was not too keen on making that move.

“However, as economic conditions and insecurity have worsened since early this year, my wife and I decided that I should try my luck and apply for a UK visa. I was pleasantly surprised to be informed that my application was successful.”

He disclosed that his immediate superior, the Head of Operations at the branch, had also obtained a UK visa and would be submitting his resignation letter in the coming days.

“The situation (wave of resignations in the industry) is really very serious and I’m wondering how banks are going to cope in terms of service delivery, if it continues. I can tell you that out of every 10 bank employees that you speak with today, at least four will tell you that they are making serious plans to “japa” (local parlance for leaving the country for greener pastures abroad).

A lot of my colleagues are already complaining of being overworked because staff who resigned months ago are yet to be replaced,” he said.

Downturn in economy Another middle level bank staff at a Tier I bank branch in Lagos, who echoed similar views, predicted that the wave of resignations would increase in the coming months as economic conditions and governance issues in the country continue to deteriorate ahead of the general election next year.

He said, “A lot of people are trying to ‘japa’ due to the situation in the country. The naira is heading towards N1,000 per dollar; the prices of goods and services (inflation) are accelerating at an alarming rate; students of government-owned higher institutions have been at home for over six months now because of the strike embarked upon by their teachers and the rising wave of killings and kidnapping cases across the nation, are making many people to believe that with the election next year drawing near, governance will completely collapse.

Thus, the only option left for any serious person is to travel abroad.”

The bank official revealed that in a bid to tackle the crisis, the financial institution she works for had reduced the minimum academic qualification required for people applying for permanent staff positions to Second Class Lower (2/2) University Degree from Second Class Upper (2/1).

She, however, said that the lowering of the academic qualification did not appear to be stemming the wave of resignations as many of the young permanent staff employed by the bank in recent times have quit after only two years to accept better offers outside the industry.

“Most of the young people that are even lucky to be employed as permanent staff by banks are not even interested in spending more than three or four years in the industry. After about two years, you will hear that they have either emigrated to Canada or are doing remote work,” she said.

Automation not the solution The bank official debunked the view that increasing automation would mitigate the impact of the resignations on the quality of service provided by the banks. She argued that while most bank operations are automated, there are still services that require the human element, pointing out that a lot of bank customers in the country prefer to visit bank branches to resolve issues that could have been addressed from the comfort of their homes.

Commenting on the wave of resignations and its likely impact on the industry, the President of the Bank Customers Association of Nigeria (BCAN), Dr Uju Ogubunka, told New Telegraph that “the impact is already being felt. Many experienced and skilled bankers are already resigning for greener pastures abroad. It is a reality.” According to him, the resignations will adversely impact the industry as “service quality will go down and people will complain and all that.”

Ogubunka, who noted that the wave of resignations was not peculiar to the banking industry, said that he knew a lot of people in other sectors of the economy who are also planning to quit their jobs to look for better employment offers outside the country. He attributed the development to the tough economy, pointing out that it was in the nature of human beings to emigrate in search of a better life.

“That is why we are asking that it is very important that all the focus should be on improving the Nigerian economy,” he stated.

On his part, the CEO of BIC Consulting Services, Dr Boniface Chizea, said that he could not predict to what level the great resignation will get to before it would start to impact the banks negatively. He noted that while automation is helping the banks to cope with the resignation of key staff, the industry would be concerned if the number of exiting staff continues to head north.

Chizea said: “There are countries out there, like Canada, that have labour shortage. So, people will want to move to such places to search for work. That is why we must tackle our economic problems.

What is causing the high inflation; the depreciation of the naira?” Blessing in disguise Last week, in his address at the pre-media briefing for the CIBN’s 15th Annual Banking and Finance Conference (ABFC), scheduled for September 13 – 14, Suleiman, who is the Chairman of the Consultative Committee of the conference, announced that an ongoing research finding on, “Analysis of Human Capital Attrition in a Global Context: A Case Study of the Financial Services Industry,” would be shared for information of stakeholders and value addition to the 15th ABFC.

Responding to a question on what measures the banking industry is taking to address the great resignation, he said: “With reference to the Chinese word for crisis, which also means opportunity, our attitude is that Nigeria is not lacking in healthy, young people, who are willing and are able to work.

“Therefore, if we see ourselves losing talent, the best response is to actually focus on converting those young people as replacement for those who are leaving.”

He further disclosed that “the industry, as a collective, is putting together a plan that will enable us support individuals who are looking to acquire skills in the area of technology and all other fields where we have skills shortage. The thinking is that actually, we can turn the crisis into an opportunity.”

MonkeyMods:
No wonder my banks have been fumbling



Vote Peter Obi so all these shenanigans will be a thing of the past


If you mistakenly vote Tinubu....of course you know the rest of the story!

Racoon:
Healthcare professional are leaving in droves. Technicians and artisans are also leaving.ASUU is on strike for more than 5months now. Every facet of our national life is just taking the hit. Yet some failure of a government is still campaigning to retain leadership?

LieDetector:
President Muhammadu Buhari has urged Nigerians to ensure continuity of his regime by voting for the All Progressives Congress (APC) in the 2023 presidential election.

“The forthcoming general elections will provide us with the opportunity to convince the electorate of the need for continuity to enable our party to consolidate on our achievements in the last 7 years,” Mr Buhari said.

The president, according to a statement by his spokesperson Femi Adesina on Friday, disclosed this while receiving a delegation from Nasarawa State.
“The Government and people of Nasarawa State, as usual, have a great role to play in returning our party to governance in the 2023 elections, in order to create a path for greater socio-economic growth and development.

“This is not only important for Nigeria alone but also for the West African Sub-Region,” the president was further quoted as saying.

https://gazettengr.com/nigerians-should-vote-tinubu-for-continuity-of-my-regime-buhari/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost

lalasticlala:
Insecurity: Recruit 50 million youths into army, Tinubu urges FG

All Progressives Congress chieftain, Bola Tinubu, on Monday, urged the Federal Government to recruit at least 50 million youths into the Nigerian Army to boost Nigeria’s fight against terrorism, banditry and all forms of internal and external security threats confronting the nation.

Tinubu spoke at the 12th colloquium to celebrate his 69th birthday in Kano State.

He said, “We are under-policed and we are competing with armed robbers and bandits to recruit from the youths who are unemployed —33 per cent unemployed?”

“Recruit 50 million youths into the army,” he stated, adding that “what they will eat —cassava, corn, yam, will grow here.”

The APC chieftain, while reacting to recent statistics by the National Bureau of Statistics that over 23 million Nigerians are jobless, also urged the government to create jobs for youths in the agricultural value chains.

He said, “Don’t talk about illiteracy, anybody who can hold a gun, who can handle a gun, who can cock and shoot is technically competent to repair a tractor in the farm.”

https://punchng.com/insecurity-recruit-50-million-youths-into-army-tinubu-urges-fg/

MonkeyMods:
No wonder my banks have been fumbling

Vote Peter Obi so all these shenanigans will be a thing of the past

If you mistakenly vote Tinubu....of course you know the rest of the story!

anonimi:
Anambra doctors call off strike after 13 months
February 28, 2012

After over a year of down tools, Anambra State Government employed medical doctors have finally called of strike.
According to Dr. Emma Ekwesianya, Chairman Anambra State chapter of Nigeria Medical Association (NMA), the striking doctors decided to pick up tools again because of the plight of the ordinary people in the societ.
“It is true, we have called off the strike. We have just signed the agreement with government about an hour ago. The Secretary to the State Government (SSG) signed for the government. A technical committee, headed by Prof. O.O. Mbonu was set up to execute the agreement.” He confirmed.

“We decided to take the 60 per cent offered by government because of our people. Government has been rigid and we do not want to continue with the rigidity of government. We are serving the people, not government and our people are suffering.”
Speaking further, Ekwesianya, revealed that a technical committee, headed by Prof. O.O. Mbonu had also been set up by the association to see to the implementation of the agreement with government sequel to the signing of the Memorandum of Understanding (MoU) with the Peter Obi-led government on Monday.

Chief Medical Director, Anambra State University Teaching Hospital (ASUTH), Amaku, Awka, Dr. Lawrence Ikeakor also confirmed the new development: “Well I’m happy to tell you that the strike has been amicably resolved, even though, like you said, it’s been a prolonged one but suffice it to say that it has been resolved and the doctors have resumed work.”
“The call off was yesterday (Sunday). The doctors had some negotiations and held their congress yesterday, during which they agreed to call off the strike. So they resumed duty today.
They are in their clinic. Well, I was not privy to the agreement but I will say that our representatives were satisfied with the arrangement, hence they decided to call off the strike.” He disclosed.

https://dailypost.ng/2012/02/28/anambra-doctors-call-off-strike-after-13-months/

anonimi:


Fraudulent failure Peter Obi who stole and stashed Anambra money like Abacha?
Or you have some other person on mind