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Resignation wave in banking sector an opportunity, not crisis – Suleiman, Sterling Bank CEO

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THE Chairman, Conference Consultative Committee of the 15th Annual Banking and Finance Conference, Abubakar Suleiman, has described the wave of resignation in the banking sector as an opportunity, rather than a crisis.

Suleiman submitted at a media briefing on the conference, which held today in Lagos, that the country was not in shortage of healthy young Nigerians willing to work, saying a transfer of skills to the young minds would mitigate the migration trend, which the media had widely reported.


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He said, “I would reference the Chinese word for crisis, which also means opportunity. Nigeria is not lacking in healthy young people who are willing to work. Therefore, if we see ourselves losing talents, the best response would be to focus on converting those young people as a replacement for those that had left.”

It would be recalled that Suleiman, who is the Managing Director of Sterling Bank, had at a meeting of chief executive officers of banks on April 15, 2022 lamented a dearth of talents in the sector.

“So many of our very experienced talents, especially in the area of software engineering, are either leaving the industry or leaving the country,” he was reported to have said.

He disclosed to the media how the industry was putting together a plan that would sponsor individuals seeking skills in the area of technology, as well as in other areas where the sector had a skill shortage.

“The thinking is that would turn a crisis into an opportunity,” he added.

The president of the Chartered Institute of Bankers of Nigeria (CIBN), Ken Opara, said the brain drain development was not restricted to only the banking sector, but was also an problem affecting talents across all sectors.

Opara, however, enthused that the industry was rising to the challenges. He spoke of the intention of the CIBN to introduce a human resource centre to help in skills acquistion and transfer in the industry.

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The Annual Banking and Finance Conference is the flagship programme of the CIBN. The next edition is scheduled for September 13-14, 2022 at the Congress Hall of Transcorp Hilton, Abuja. It is themed, ‘Repositioning the Financial Services Industry for an Evolving Glocal Context.’

There will also be virtual participation.

The programme is hosted annually to provide a platform for all stakeholders in the banking and finance industry to share experiences and exchange ideas on contemporary issues affecting the sector and the economy as a whole.

Author profile

Experienced Business reporter seeking the truth and upholding justice. Covered capital markets, aviation, maritime, road and rail, as well as economy. Email tips to jolaoluwa@icirnigeria.org. Follow on Twitter @theminentmuyiwa and on Instagram @Hollumuyiwah.

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