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Bankers Are Fleeing Nigeria’s Stagnating Economy as “Japa” Beckons

  • Soaring inflation, low salaries send employees abroad
  • Bankers’ union recommends remote work, better work conditions

Francis Eze spent nearly a decade at one of Nigeria’s biggest banks working for a salary far lower than the one he’d negotiated in his interview. As a bachelor and then as a newlywed, he found a way to manage on a tighter budget.

His wife, a nurse, had long told him about colleagues at her hospital who had been recruited to move abroad but Eze wasn’t interested. Then with private school fees for two children coming due this year, the pair joined the flood of skilled Nigerians leaving the country amid a plummeting naira and a stagnating economy.