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CBN Staff Wins Prestigious IMF/AFRITAC Award

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The Central Bank of Nigeria (CBN) is proud to announce that Hamza Abdul-Aziz, an economist in the Financial Markets Department, has been recognized as one of the winners of the IMF/AFRITAC West 2 Young Economist Research Contest for Central Bankers and Government Economists.

His paper, titled “The Role of Central Banks in Achieving an Optimal Monetary-Fiscal Policy Mix: A Case of IT Framework Transition in Nigeria,” was selected as one of the top submissions. The contest featured participants from Cape Verde, Gambia, Ghana, Liberia, Nigeria, and Sierra Leone.

This achievement highlights the CBN’s commitment to excellence and innovation in economic research.

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NDPC Partners with Microsoft and DSN on AI and Data Protection Capacity Building

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In a significant move to enhance data protection and privacy in Nigeria, the National Commissioner and Chief Executive Officer of the Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, recently held a virtual meeting with key stakeholders. The session included Microsoft’s Head of Governance Affairs for Nigeria, Nonye Ujam, and the Chief Executive Officer of Data Science Nigeria (DSN), Dr. Olubayo Adekanmbi.

The meeting focused on Microsoft-supported initiatives aimed at capacity building for the NDPC, particularly in Artificial Intelligence (AI), data protection best practices, and enabling technologies.

Dr. Olatunji, in his remarks, underscored the importance of human capital development as a catalyst for innovation. He noted that this priority aligns seamlessly with the Commission’s strategic roadmap. “The global data protection and privacy ecosystem is evolving rapidly,” he said, reiterating the Commission’s commitment to equipping its workforce with the skills needed to meet international standards.

The training program, supported by Microsoft, aims to…

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Nigerian Man Transforms Owerri Into a Mini Las Vegas: A Thriving Destination for Luxury and Entertainment

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Owerri, the capital city of Imo State, Nigeria, is rapidly earning its spot as a premier destination for leisure and luxury seekers. Thanks to the visionary efforts of a Nigerian entrepreneur based in Japan, the city now boasts a hospitality experience akin to the glitz and glamour of Las Vegas.

This bold transformation has ignited conversations across Nigeria, with many questioning why anyone would spend scarce foreign currency on overseas vacations when Owerri now offers comparable luxury right at home. With its burgeoning array of five-star hotels and world-class amenities, the city is becoming a haven for weekend getaways and extended vacations.

A Boom in Luxury Hospitality

Owerri’s hospitality scene is nothing short of a marvel. Despite calls for investors to diversify into other economic sectors, the city continues to witness an unprecedented rise in hotel construction. This trend is driven by robust demand, as many of the hotels are consistently fully…

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Opay Digital Honored by CBN for Pioneering Financial Inclusion in Nigeria

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By Anthony Emeka Nwosu

As Nigeria’s financial landscape evolves with a focus on innovation and inclusivity, one name has continued to resonate within the fintech space—Opay Digital. Recently, this forward-thinking financial technology firm achieved a remarkable milestone, earning the “Financial Inclusion Innovation Award” at the 2nd Annual International Financial Inclusion Conference, organized by the Central Bank of Nigeria (CBN).

This prestigious award recognizes Opay Digital’s groundbreaking contributions toward financial inclusion and its commitment to delivering secure, innovative, and user-centric solutions. For many Nigerians, Opay has become synonymous with accessible financial services, bridging gaps where traditional banking systems have struggled.

The company’s excitement over this achievement was palpable. In a statement shared with their customers and stakeholders, Opay Digital expressed deep gratitude, saying, “We are excited to share that OPay has been awarded the ‘Financial Inclusion Innovation Award’ by the Central Bank of Nigeria! This recognition highlights our unwavering dedication to advancing financial…

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Afrimash Urges Poultry Farmers to Embrace Best Practices, Stresses Odor Control

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Afrimash Nigeria, an agritech firm based in Ibadan, Oyo State, and known for its commitment to supporting the agricultural sector with top-notch services and products, is shining a spotlight on the importance of odor control in poultry farming. The company, which prides itself on helping farmers achieve sustainable success, is now calling attention to an issue that is often underestimated but critical to the health of farms and their surrounding communities.

Speaking about the matter, the CEO of Afrimash, Ayo, explained that while poultry farming plays an essential role in food production, it sometimes brings challenges, including unpleasant odors. These odors, if not addressed, can have far-reaching consequences. They don’t just create discomfort for nearby residents but also pose risks to the environment and even the birds themselves.

“Odor control in poultry farms is not just a courtesy to neighbors—it’s a necessity for the health of the farm and the environment,”…

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NDPC Partners Ministry of Youth Development to Train 5,000 Youths on Data Protection

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In a bid to advance data privacy and protection in Nigeria, the Nigeria Data Protection Commission (NDPC) has commenced implementing its Memorandum of Understanding (MoU) with the Ministry of Youth Development. This initiative aims to train 5,000 youths nationwide on data protection and privacy.

As part of this partnership, the NDPC recently organised a two-day training program tailored for the Ministry’s management staff. The training, led by experts from the Commission, focused on equipping participants with the skills and knowledge required to comply with the Nigeria Data Protection Act (NDP Act). The program also sought to foster a culture of privacy and ethical data handling within the Ministry and across its activities.

Held under the theme “Empowering Data Protection Compliance and Security,” the training provided in-depth insights into the ethical handling of personal data and underscored the importance of safeguarding the privacy of young Nigerians. The youth demographic, often regarded as…

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NITDA Director General, Kashifu Inuwa, Highlights Ethical AI at the 19th Annual Internet Governance Forum in Riyadh

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The 19th Annual Internet Governance Forum (IGF) currently underway in Riyadh, Saudi Arabia, has proven to be a critical platform for global discussions on the future of internet governance. Among the key figures making impactful contributions is Kashifu Inuwa CCIE, Director General of Nigeria’s National Information Technology Development Agency (NITDA).

One of the standout moments of Inuwa’s participation was his involvement in a session focused on “Building Ethical AI: Policy Tool for Human-Centric and Responsible AI Governance.” During the session, Inuwa stressed the importance of ethical development in artificial intelligence (AI) and underscored the role of the Digital Cooperation Organisation (DCO) in fostering responsible AI practices.

Inuwa praised the DCO’s Responsible AI Tool, emphasizing its significance as a foundational step toward ensuring AI technologies are developed and deployed in ways that are socially beneficial and aligned with human-centric values.

NITDA’s engagement at the IGF reflects the agency’s dedication to shaping the future…

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Moppet Baby Food CEO, Roberta Edu, Advocates for Local Manufacturing and Announces Support for 100 Women Entrepreneurs

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In the face of Nigeria’s ongoing naira crisis and inflation, one silver lining has emerged: local solutions are no longer just an option, but a necessity. Nowhere is this more evident than in the baby food sector, where brands like Moppet Baby Food have not only endured but thrived in an increasingly challenging economic landscape.

Engr. Roberta Edu, the passionate and visionary CEO of Moppet Foods, recently shared her thoughts on the transformative power of local manufacturing in a heartfelt statement. Reflecting on the changes she’s witnessed over the years, Edu remarked, “I remember a time when the baby goods aisle was filled with foreign products. Today, it’s a different story. The shelves are now stocked with locally made products, and Moppet Foods has stood the test of time. Thank God for visionaries who dared to invest in this space when it wasn’t easy.”

Her words not only celebrate the success…

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Southeast Loses ₦17.4 Trillion Over 29 Years Due to Absence of Sixth State

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—Chidoka Calls for Action to End Economic and Political Marginalisation

Abuja, Nigeria — December 13, 2024 – The Southeast region of Nigeria has suffered an estimated loss of ₦17.4 trillion over the past 29 years due to the absence of a sixth state, according to Chief Osita Chidoka, Chancellor of the Athena Centre for Policy and Leadership and former Minister of Aviation. The figure, adjusted for inflation and currency devaluation, highlights the significant economic and political impact on the region’s federal allocations, governance, and representation.

Chief Chidoka made this declaration during his address at the Otu Oka-Iwu (Association of Igbo Lawyers) event held on December 13, 2024. He described the lack of a sixth state as a critical issue that has deepened the Southeast’s marginalisation while depriving it of resources that could have accelerated development.

“The absence of a sixth state in the Southeast is not just a political oversight but a…

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