Nigerian Banks Hit by 'Great Resignation' of Top Tech Talent

Nigerian banks have been hit by an exodus of tech talent, chief executives of the nation's lenders say. From a report: "So many of our very experienced talents especially in the area of software engineering are either leaving the industry or leaving the country," Abubakar Suleiman, chief executive officer of Sterling Bank, told reporters at the end of a meeting of bank CEOs on Thursday, according to a voice recording shared by the central bank. He referred to it as a "great resignation." The meeting came as traditional lenders in Africa's largest economy face stiff competition for talent from technology startups attracting increased funding from international investors and offering better working conditions, in and outside the country. Africa-focused startups raised a record $5 billion last year, with those specializing in digital and mobile payments and lending soaking up most of the funding. Two economic contractions in the last five years have also forced some Nigerians with globally marketable skills to leave the country, with the U.S., Canada and U.K. being preferred destinations.

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