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NITDA Director-General Stresses Urgency for Financial Institutions to Embrace AI and Data Analytics for Digital Payment Enhancement

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The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, underscored the imperative for Nigerian Financial Institutions to adopt cutting-edge technologies such as Artificial Intelligence (AI) and Data Analytics to elevate digital payment systems.

This pivotal declaration took center stage at the Central Bank of Nigeria’s 2023 Payments System Management Department Retreat, where Inuwa accentuated the vital role of collaboration between NITDA, the Central Bank of Nigeria (CBN), and other tech stakeholders for fostering exponential growth in the financial sector.

Represented by Engr Ya’u Garba, the National Director of the National Centre for Artificial Intelligence and Robotics (NCAIR), Inuwa acknowledged the substantial contribution of Financial Technology (FinTech) in propelling Nigeria’s recent industry performance. He specifically highlighted the positive impact of FinTech in Environmental, Social, and Governance (ESG) sectors, attributing this success to the effective application of developmental regulations and enabling policies.

The Director-General urged a collective effort towards the seamless integration of emerging technologies, emphasizing that this collaboration is essential for positioning Nigeria at the forefront of the global digital payments landscape.

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Nigeria set to become the first West African manufacturing hub for insecticide-treated nets in the battle against malaria

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Vestergaard Sàrl (https://Vestergaard.com/) announced today that the Government of the Federal Republic of Nigeria, acting through the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), has signed a Memorandum of Understanding (MoU) with the company, as an initial step to establish the country as the first West African manufacturing hub for insecticide-treated nets (ITNs) to combat malaria – and the first on the continent to produce dual active-ingredient nets to help combat insecticide resistance.

 

Nearly every minute (https://apo-opa.co/4eqUoIY), a child under 5 years old dies from malaria. The African continent accounts for almost 95% (https://apo-opa.co/4ecJ8jD) of the world’s malaria cases – one quarter of these are in Nigeria. New approaches are needed to boost access to tried-and-tested, cost-effective tools to combat the disease, and local manufacturing of nets, medicines and vaccines is a priority for the continent…

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Majority of African Countries Will Take Center Stage in BRICS+ Fashion Summit in Moscow

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A majority of African countries will take part in the BRICS Fashion Summit (https://FashionSummit.org/) in Moscow. The Summit is set to be the largest event in the fashion world, serving as a platform for the exchange of experience between leading industry players from emerging markets. Africa will be represented by delegations from over 30 countries, including South Africa, Ethiopia, Egypt, Algeria, Tanzania, Ghana, Nigeria, Zimbabwe, and others. The Summit held in Russia, chairing the BRICS this year, will also welcome delegations from China, India, Indonesia, the UAE, Brazil, Malaysia, and other nations from Asia, Latin America, and Europe.

 

Stephen Manzini, Founder and CEO of Soweto Fashion Week, emphasizes the importance of the BRICS Fashion Summit for the global fashion industry: “The BRICS Fashion Summit is very important for emerging economies and the global South as we have never had a united platform of this nature in history….

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African fashion designers supported by Afreximbank’s Creative Africa Nexus (CANEX) shine at Paris Fashion week

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Two weeks after the highly successful inaugural Tranoï Tokyo trade show held in Japan from September 4-5, over 20 exceptional fashion brands from across Africa and the diaspora showcased their designs at the Paris Fashion Week on 26-29 September at Tranoï, Palais Brongniart as part of Afreximbank’s CANEX Presents Africa initiative (www.Afreximbank.com).

 

Afreximbank’s dedicated scenographic exhibition space  showcased a diverse array of brands, including Ethiopia’s Mafi Mafi, Kenya’s Adele Dejak, We Are NBO, and Katush, Zanzibar’s Doreen Mashika, and Nigeria’s Emmy Kasbit, WUMAN and Bloke. Representing South Africa were JUDY SANDERSON, David Tlale, and Thebe Magugu, while Zimbabwe was represented by Vanhu Vamwe.

Other incredible brands included The Cloth from Trinidad and Tobago, Olooh and Kente Gentlemen from Côte d’Ivoire, Ghana’s Christie Brown and Beyodoe, Late For Work from Morocco and Margaux Wong from Burundi.

This moment is quite significant as it marks the first…

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VFD Microfinance Bank Appoints Temitope Osinubi as General Manager for Audit, Control, and Compliance

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VFD Microfinance Bank, a leading institution in the Nigerian financial sector, has recently announced the appointment of Temitope Osinubi as the new General Manager for Audit, Control, and Compliance. This strategic appointment underscores the bank’s commitment to ensuring robust governance, transparency, and adherence to the highest regulatory standards as it continues to deliver on its vision of promoting financial inclusion and sustainable banking.

Temitope Osinubi joins VFD Microfinance Bank with an impressive academic and professional background. She holds a Master of Science (M.Sc.) degree in Actuarial Science from the prestigious University of Lagos, in addition to a Bachelor of Science (B.Sc.) in Mathematics from Olabisi Onabanjo University. As a Certified Internal Auditor (CIA), Temitope brings with her a wealth of experience,…

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NNPC/Seplat JV’s “Eye Can See” Programme Restores Vision, Hope in Imo

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The NNPC Ltd/ Seplat Energy Joint Venture (JV) partnership has conducted a medical outreach, providing free eye health services to individuals with visual impairments in Ohaji/Egbema community of Imo State.

Through its “Eye Can See” programme, a Corporate Social Responsibility (CSR) initiative, the JV dispensed more than 10,000 reading glasses and successfully performed 639 eye surgeries, including cataract removals, for host community members who otherwise had limited access to such vital medical services.

The “Eye Can See” programme, which commenced in 2017, has been a beacon of hope in the eastern asset of the NNPC Upstream Investments, positively impacting over 20,000 people to date.

In his remarks during the event, Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, represented by Dr. Obinna Otuu, Manager, JV Asset B emphasized the significance of the initiative to NNPC Ltd’s corporate mission of enriching the lives of Nigerians.

Elaborating further on the…

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Data Privacy Workshop for the Nigeria Data Protection Commission (NDPC) Held in Ottawa, Canada

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The Nigeria Data Protection Commission (NDPC) recently participated in a Data Privacy Workshop organized by Aajimatics Technologies in Ottawa, Canada. The training centered around the Canadian Privacy Law Primer, equipping attendees with valuable knowledge on privacy regulations.

Facilitated by Shaun Brown, a lawyer specializing in regulatory matters, the workshop covered essential aspects of privacy legislation across public, private, and health sectors. Brown provided in-depth insights into both federal and provincial privacy laws, emphasizing their significance in ensuring data protection and privacy rights.

Among the attendees were Dr. Vincent Olatunji, National Commissioner and CEO of NDPC; Mr. Solomon Odole, Project Coordinator of ID4D; and staff members from NDPC, the National Identity Management Commission (NIMC), and Nigeria’s ID4D initiative.

The workshop served as a platform for knowledge sharing and collaboration, enhancing participants’ understanding of data protection practices and privacy legislation in Canada, which can be applied to strengthen Nigeria’s own data protection framework.

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Women Affairs Ministry to Partner with WEMA Bank on Empowerment Initiatives for 500,000 Females

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The Federal Ministry of Women Affairs is set to partner with WEMA Bank Plc on various empowerment initiatives aimed at improving the lives of 500,000 women across Nigeria’s six geo-political zones. These initiatives, to be executed through the Ministry’s women cluster arrangement, will focus on skill acquisition, agriculture, the provision of grants and loans, and the allocation of part of WEMA Bank’s Corporate Social Responsibility (CSR) to women-centric programs.

Barrister (Mrs.) Uju Kennedy-Ohanenye, Honourable Minister of Women Affairs, revealed this during a meeting with officials from WEMA Bank and its partners on Monday at her office. The meeting centered on planning the partnership, which aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, targeting poverty reduction, unemployment, and nationwide improvement in living standards.

The Minister emphasized that empowering women economically is essential in addressing societal issues such as poverty, early marriages, and domestic violence. With women and children comprising 70% of…

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CBN Governor Olayemi Cardoso Champions Africa’s Voice at Bretton Woods at 80 Forum

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Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, played a pivotal role in amplifying Africa’s voice on the global financial stage at the high-level Bretton Woods at 80 Forum held in New Hampshire, USA, from September 26th to 27th, 2024.

Governor Cardoso’s participation at this prestigious event underscored Nigeria’s and Africa’s increasing influence in international economic discussions, marking a significant step towards enhancing the continent’s representation in global financial dialogues. His involvement reflects a broader commitment to ensuring that African perspectives and priorities are adequately addressed in global economic policies.

The forum convened leaders and experts from around the world to discuss pressing issues affecting the global economy. Key topics included strategies for fostering investment, promoting inclusive growth, enhancing…

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