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From Groundnuts to Global Influence: Alhaji Alhassan Dantata’s Entrepreneurial Journey

From Groundnuts to Global Influence: Alhaji Alhassan Dantata’s Entrepreneurial Journey

 

In the annals of West African history, the name Alhaji Alhassan Dantata resonates as a symbol of wealth, entrepreneurship, and visionary leadership. As we reflect on his legacy, we pay homage to a man whose contributions left an indelible mark on Nigeria and the entire region.

The Groundnut King of the 1940s

Alhaji Alhassan Dantata, known as the “Groundnut King” of West Africa in the 1940s, was a pioneer in the groundnut trade that made Nigeria the world’s largest exporter of groundnuts. His vision and business acumen led to the construction of the iconic Kano Groundnut Pyramids, a testament to his role in shaping the economy of Nigeria.

Connecting Nations through Rail and Ports

Dantata’s influence extended beyond agriculture. He played a pivotal role in Nigeria’s early infrastructural development. The Kano-Lagos rail, inaugurated in 1912, was the first transnational rail in Nigeria, designed to transport northern exports to the southern port of Lagos. The Apapa Port, Nigeria’s first colonial-era infrastructural project, served as the southern terminus for this rail system, facilitating the movement of goods between Lagos and Kano.

Entrepreneurship and Wealth Creation

Dantata’s entrepreneurial spirit knew no bounds. In 1929, he established an account with the British Bank of West Africa (now First Bank) in Kano, depositing a staggering 20 camel-loads of silver coins. This financial prowess and resourcefulness laid the foundation for his enduring legacy in business and wealth creation.

A Legacy of Construction and Leadership

In the 1960s, as Nigeria embarked on a wave of infrastructure development, Dantata ventured into the construction business. His breakthrough came in 1962 when he was awarded a contract worth half a million pounds to build the Nigerian Defence Academy complex in Kaduna, the largest contract ever given to an indigenous contractor at that time. In 1964, he further solidified his position as a construction industry leader by constructing the School of Aviation complex in Zaria.

Public Service and Family Legacy

Dantata’s commitment to nation-building extended to public service. He served as a commissioner in the newly created Kano State from 1967 to 1973, leaving a lasting impact on governance.

Today, his great-grandson, Aliko Dangote, stands as the world’s richest black man, carrying on the family tradition of entrepreneurship and wealth creation.

A Lesson for Generations

As we celebrate the life and achievements of Alhaji Alhassan Dantata, we are reminded of the importance of family businesses in Nigeria and their potential to create generational wealth. Dantata’s legacy underscores the transformative power of entrepreneurship and the ability to turn a small business into a global powerhouse.

To the young entrepreneurs of today, remember that every successful family business began as a small venture. Collaborate with your family, build on their successes, and aim for greatness.

A Model for Generations

Alhaji Alhassan Dantata is not merely a historical figure; he is a symbol of enduring enterprises and a model for future generations. We extend our wishes for robust health and serenity of mind to Alh. Aminu Dantata as he continues to serve humanity and uphold this remarkable legacy.

May Allah bless the memory of Alhaji Alhassan Dantata, a true pioneer and a pillar of flourishing enterprises.

Azeez Ibrahim

Introducing Dr. Yemi Cardoso as the New Governor of the Central Bank of Nigeria

Introducing Dr. Yemi Cardoso as the New Governor of the Central Bank of Nigeria

 

The appointment of Dr. Yemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN). Dr. Cardoso brings a wealth of experience and expertise to this prestigious position, and we are confident that his leadership will make a significant impact on the financial landscape of Nigeria.

Dr. Cardoso’s Educational Background:

Dr. Yemi Cardoso attended renowned institutions for his primary and secondary education, including Corona School Ikoyi and St. Gregory’s College in Lagos. He obtained a Bachelor’s degree (B.Sc.) in Managerial and Administrative Studies from Aston University in 1980. Later, in 2005, he earned a Master’s degree in Public Administration from the Harvard Kennedy School of Government as a Mason Fellow. In recognition of his exceptional achievements, he was granted an honorary Doctorate in Business Administration (DBA) by Aston University in 2017.

Professional Journey:

Dr. Cardoso embarked on his professional journey at Howard Tilly & Co., Chartered Accountants in London before transitioning to the banking industry. In 1981, he joined Citibank, the world’s largest financial services organization at that time.

Public Service:

In the realm of public service, Dr. Cardoso served as the Commissioner for Economic Planning & Budget in Lagos State during Nigeria’s transition to civilian and democratic governance in 1999. He played a pivotal role in establishing and overseeing Nigeria’s first stand-alone Ministry of Economic Planning & Budget, which became the driving force behind numerous reforms.

Return to Private Life and Development Sector:

After his government tenure, Dr. Cardoso remained deeply engaged in the development sector, offering consultancy services on development and financial matters. He established strong partnerships with international entities like Standard & Poor’s (S&P) and prominent donors such as the World Bank. His contributions extended to the Cities Alliance Think Tank, where he dedicated himself to shaping and influencing urban development policy and decision-making in Africa.

Notable Achievements as Chairman of Citibank Nigeria Limited:

Dr. Cardoso’s leadership as Chairman of the Board of Citibank Nigeria Limited from 2010 to 2022 was marked by exemplary expertise and stewardship. Under his guidance, the bank experienced substantial growth, with total assets increasing by 308.3%, total revenue surging by 235.6%, and shareholders’ equity showing an outstanding improvement of 231.2%. Dr. Cardoso’s tenure also witnessed successful execution of substantial transactions, including MTN’s 2017 US$1.5 billion Eurobond, where Citibank played a pivotal role as joint Lead Manager.

Current Engagements:

Dr. Cardoso is currently a member of the Nigerian National Advisory Board on impact investing and serves on the advisory board of Lagos Business School. He is also the founding Chairman of the board for the Africa Venture Philanthropy Alliance (AVPA), an organization dedicated to unlocking new capital for social impact across the continent.

We extend our warmest congratulations to Dr. Yemi Cardoso on his appointment as the Governor of the Central Bank of Nigeria. We look forward to witnessing his transformative leadership and contributions to the financial sector in Nigeria.

 

 

ANTHONY EMEKA NWOSU

Dangote has three daughters: Halima, Fatima, and Mariya.

Dangote has three daughters: Halima, Fatima, and Mariya.

 

All three of them are with their father at their Lagos corporate headquarters in Ikoyi, and they are all working for the Dangote group as Dangote’s business executives, understudying their legendary father before he takes a bow and go into retirement.

Mike Adenuga’s daughter, Bella, is running Glo by proxy for him. Tony Elumelu is grooming his daughter Oge. Once she is done with her studies at the London School of Economics, she will join him immediately in running his own family business, called Heir Holdings in Ikoyi. For Nigeria to grow, my generation needs to pay attention to our different family businesses and see how we can re-invent the wheel by scaling it.

Olam started as a small family business in Nigeria. The Aswanis, who own the Indomie brand, are in the same boat. They started as a small family business in Indonesia inside a container shop , but today, look at them.

They are all global conglomerates with yearly revenues in the billions of dollars, with their head offices moved to Singapore from Nigeria, to reflect their global ambitions. One of the favourite family business stories I have come across is what my two Oga’s, Celestine Ebubeogu and Don Ebubeogu, did with Tiger Foods Limited after it was handed over to them by their late mum in the 90’s.

Tiger foods is the producer of popular food brands in the market like Tiger curry, Tiger Mayonnaise and the rest. After their mum handed it over to them, it was a very small business; they could not even afford to buy a truck to convey their spicy products to the relief market in Onitsha.

Yes! They used wheelbarrows to convey their spicy products to the relief market during their early days , asking themselves when they would be as big as their competitors. The chairman of the company, Chief Celestine, whom I fondly call Ide 1, told me the last time we were together at Oriental hotel Lagos.

Today, look at how big they are. From that humble beginning, they have grown to become one of the biggest food companies in West Africa as their spicy products can be found all over West Africa food market, from Cameroun to Togo, Liberia and Ghana.

Tony Elemelu once shared the story of his daughter Oge, who earns 250 dollars every month working for the family business when she is at home for vacation.

For the daughter of a billionaire, 250 dollars is actually a pittance, but Tony mentioned that he encourages Oge to save and invest from that 250 dollars that Heir Holdings pays her, and then Oge gives him a breakdown of how she invested at the end of the month.

Tony is teaching Oge that every penny counts and is earned for He is also teaching her not to be entitled to other people’s money, to save her income and invest and most importantly, to develop the financial prudence and money management skills that she will need when she takes over the family business from him. 👇

Chukwudi Iwuchukwu

Migrating to the cloud? Beware of the many hurdles

Migrating to the cloud? Beware of the many hurdles

 

 

Businesses today are moving en masse to the cloud. However, before undertaking such a move, companies should understand the many hurdles they face, and how to overcome these, says Benjamin Coetzer, Director at local VMware Cloud Verified provider and VMware Principal Partner, Routed.

 

Most businesses today, if they have not already undertaken a cloud migration, are certainly in the process of planning such a move. The desire to do so is fuelled by the multitude of benefits that are loudly proclaimed, including scalability, flexibility and cost-efficiency.

 

However, while there are undoubtedly many benefits, there are also numerous hurdles to cloud adoption, and it is these challenges that CIOs need to be especially aware of when planning a migration.

 

In fact, some of the biggest challenges revolve around managing cloud spend, understanding the cost components of cloud infrastructure, and of course, how those costs can scale. Additionally, migrating traditional on-premises workloads to hyperscale providers isn’t always a simple equation. Unlike buying physical servers and equipment, hyperscalers charge for communication and disk access in ways that are unfamiliar to most organisations.

 

Still, perhaps the single biggest global challenge currently, and one that is certainly a major issue in South Africa, is the lack of adequate cloud skills. A shortage like this means that a lot of people do not have the relevant experience in cloud migration, and thus face a steep learning curve when transitioning from on-premises to the cloud.

 

Part of the problem lies in the fact that with on-premises setups, IT teams have more control over data access and security. In the cloud, security becomes a shared responsibility, requiring awareness and training across the enterprise. Moreover, as businesses shift to software-as-a-service (SaaS) models, employees also need retraining, in order to adapt to new ways of using applications and accessing data, while still maintaining effective security.

 

Legacy versus cloud native

Another concern is that technical leaders sometimes try to take legacy on–premise applications and shift these straight into a cloud native environment. Not only do such applications not always work properly in the new environment, but organisations that are used to the usual Capex-type investments for hardware refreshes or perpetual software licenses, quickly find that the cost operation model in a cloud environment is completely different.

 

Worse still, it is often the non–IT departments in the business that don’t know how to handle this new cost paradigm model – people like the finance director, accountants and product teams.

 

There are also significant technical challenges to consider, with connectivity being first and foremost among these. Since connectivity is the lifeblood of the cloud, it is imperative that your business or office park has some form of redundancy built in. The best approach is to utilise two different connectivity mediums, such as a main fibre link, with a wireless connection as a secondary option.

 

A second challenge here is the issue of locality. This is of concern, due to the nature of compliance requirements – like the General Data Protection Rule (GDPR) and the Protection of Personal Information Act (PoPIA) – indicating that certain data must reside within local borders. It is vital to be aware of the personal information that you are saving in your databases, systems, and applications, as this is stringently controlled and there are strict rules around where such data resides, from a compliance perspective.

 

Security and data privacy concerns should be among your top of mind thoughts, as such issues play a significant role in hindering cloud adoption. For example, we are aware that the cloud introduces new operating paradigms and governance challenges, such as Shadow IT. This is where different departments use various cloud services without oversight, something that can easily lead to data breaches of local regulations like PoPIA, and international ones like the US Cloud Act. Such laws add complexities to data sovereignty and privacy, meaning that organisations need to consider these aspects when selecting a cloud provider.

 

High costs and vendor lock-in

It is also worth noting that one really needs to recognise and address these challenges beforehand. This is critical, because once you’re committed to a cloud provider, its difficult to switch or repatriate data without incurring high costs. Vendor lock-in is a real concern, and carefully planning ahead can prevent your business getting trapped in a situation where options are limited and costs are unforeseen.

 

This happens because the fees from hyperscalers are often consumption-based when it comes to repatriating data or information out of cloud environments. What occurs is that the providers entice new customers with an offer of huge discounts on their workloads, but this is done because they know that within the contract period, the client’s consumption of their platform is going to grow drastically. Moving to a hyperscaler cloud is like checking into Hotel California: You can check in but you can never leave – once you have committed, you may find yourself stuck with them – because in order to move out again, it may well cost you more than you would have saved with the original discount.

 

One more thing to consider is the concept of multi-cloud, similar to the previously coined term ‘hybrid cloud’, where organisations place different workloads with different hyperscalers. This is often considered the next step in cloud migration, but represents further challenges, as it is now about governance, compliance, control, and operational insights across multiple different cloud providers, making the whole process even more complex.

 

Looking at the big picture, cloud adoption is obviously a move that can be expensive, due to the operational complexities outlined above. However, these expenses can be balanced by the expertise that cloud providers bring in managing risk and operations, as compared to relying solely on internal IT staff, particularly if they do not even have proper cloud skills.

 

Besides doing your homework before making the move, the best advice for those still seeking to migrate to the cloud is this: Find a trusted partner that has a proven track record in cloud migration. Avoid those that like to throw buzzwords around and instead seek out a partner that will look at your current IT state and your current business processes with a critical eye, and that will be capable of both evaluating your situation and providing ongoing guidance as you move through your transformation journey.

Visa Acceptance Solutions Kernel in the Cloud makes accepting card payments in Africa easier than ever

Visa Acceptance Solutions Kernel in the Cloud makes accepting card payments in Africa easier than ever

 

In recent years, the landscape of African payments has undergone significant transformation and the demand for digital payment solutions has increased significantly. In specific markets, contactless payments have swiftly become the preferred method of payment among banked customers, following the pandemic. Remarkably, this trend endures unchanged.

Several new solutions such as Tap-on-glass made their local debut, while others, such as mobile point of sale (mPOS) solutions became cemented in everyday life.

Presently, the latest advancement has emerged in the form of Kernel in the Cloud (KiC) – characterised as the forthcoming wave in digital payment solutions says Jason Penton, Chief Product Officer, and Co-founder of Banking as a Service (BaaS) and embedded finance enabler, Ukheshe.

Penton explains, “While ‘Tap-on-glass’ technology enabled merchants to accept payments through customers tapping a card on an NFC-enabled Android phone, KiC elevates this capability by enabling seamless communication between any device and Visa’s cloud-based payment system.”

KiC takes away the need for payment processing software to be embedded in each hardware device – instead, it’s universally accessible in the cloud. It allows for the transformation of almost any mobile device and tablet into a cloud-connected payment terminal.

The solution was launched in 2022 and Ukheshe was the first local B2B enabler to fully integrate this solution on its Eclipse API, allowing its clients to use this new functionality.

“Furthermore, users can manage several mPOS devices through a single wallet on Eclipse. This means a merchant with multiple shops or, say, a restaurant with several devices being used by different waiters at once, can direct all those funds to a single wallet and manage their finances from there,” says Penton.

“This partnership with Ukheshe also forms part of our commitment to help drive financial inclusion and enhance the affordability of digital payments in South Africa. The Kernel in the Cloud (KiC) will enable new payment experiences and allow merchants to accept payments across a range of devices quickly. Users will also benefit from a fully certified and secure solution that enables seamless, cloud-based software updates,” says Vahini Jaganath, Senior Director: Head of Digital Solutions for Visa Sub Saharan Africa.

The introduction of Kernel in the Cloud (KiC) as the next phase in digital payment solutions, signifies a ground-breaking advancement. By enabling seamless communication between various devices and Visa’s cloud-based payment system, KiC opens doors to a more accessible and efficient payment ecosystem.

Penton envisions cloud acceptance as the forthcoming frontier of payment solutions, particularly in developing nations. He explains, “Traditional POS devices can be very expensive, and the certification processes can be time-consuming and confusing, creating a barrier to entry. Even mPOS devices, though less expensive, have some of the same hurdles.”

Cloud acceptance removes all those challenges while providing the same benefits, making it easier for small and independent businesses to deliver touchless payment options to their customers as any big business would. Large retailers, too, are always looking for ways to enhance in-store experiences, and this certainly improves convenience for customers. It creates new avenues for innovation, and this is only the beginning.

Cloud acceptance holds significant promise, particularly in developing countries, where it can democratize access to touchless payment options for businesses of all sizes. This innovation not only addresses existing hurdles posed by traditional POS devices but also encourages a culture of innovation, promising a future where payment experiences are seamless, secure, and inclusive for all.

Strengthening Supplier Management Processes against Fraud

Strengthening Supplier Management Processes against Fraud

 

By Ryan Mer, CEO eftsure Africa

 

Chief Financial Officers (CFOs) not only have a serious fiduciary duty to themselves as individuals, but they also have a responsibility to their employer to ensure that every step of every financial process is in order and above board.

 

The consequences of financial mismanagement are multiple – again, individually as well as for the company. Financial loss is just one outcome of poor financial controls – there are also legal and reputational implications.

 

One of the most complex areas of a CFO’s role is supply chain management, from requisitioning a product or service, to vetting and onboarding the supplier, actual procurement and through to payment. If the company is not making a once-off purchase, there is also an element of relationship management required to maintain the supplier.

 

So how can the CFO make his job, if not a little easier, then at least a little more secure against fraud?

 

Supply chain and procurement management

First is ensuring that there is a very clear chain of command and step-by-step process for procurement. No employee should be empowered to go out and purchase or order any product or service without completing the requisite forms and getting sign-off all the way up to CFO/CEO.

 

Given that procurement officers may be dealing with everything from stationery and promotional and marketing items to the most technical pieces of equipment, it is essential that proper specs for the item are drawn up and that the procurement officer is clear about the expectations of the department that is ordering. This means finding a supplier that can meet expectations of quality, price and delivery time frames. While larger organisations may have a sizable chain of command and specific roles, even SMEs should have a person responsible for onboarding and dealing with suppliers and a dedicated processes for doing so.

 

Compliance

A transparent supplier process is fundamental to building trust and fostering strong business relationships. It should be structured and consistent, not only to ensure clarity for all participants but also to uphold the highest standards of accountability and integrity. A systematic approach to supplier processes prevents ambiguities and ensures that all parties understand their roles and responsibilities. Integral to this structured approach is a robust system designed to oversee activities and maintain a comprehensive audit trail. This audit capability is crucial for any business, irrespective of its size, as it provides a clear record of transactions, decisions, and interactions, ensuring that operations are transparent and verifiable.

 

Risk Management

A robust risk management framework becomes paramount. Before integrating risk management information onto payment systems, it’s vital that this information concerning suppliers be meticulously vetted and approved. Organisations vary in their risk thresholds – some will demand rigorous scrutiny, while others might opt for a more streamlined approach. However, the core principle remains the same: a dedicated commitment to risk management.

 

Every organisation, regardless of size, must anchor its supplier interactions in an appropriate, tailored process. While larger entities might delve deeper into verification due to the sheer scale of their operations, smaller entities should also prioritise their version of rigorous vetting. At its heart, this is not just about meeting stipulated requirements; it’s about championing the principle of risk mitigation.

 

Operational Efficiency

Once you have a central supplier database for all your procurement needs and are ready to place your first order with a supplier, we go back to the chain of command. Who can place the order, what paperwork (for example a purchase order) is required and what are the timelines? Communication is key in achieving optimal operational efficiency, setting out clear expectations of a supplier in terms of quality and timing.

 

Closing the loopholes

Every system is open to potential abuse but with all the above processes, procedures and protocols in place, CFOs can mitigate financial and reputational risk considerably. Platforms for real-time verification of beneficiary company banking details such as eftsure Africa’s system can have a considerable impact on risk reduction and provide peace of mind in the complex world of procurement and supply chain management. A platform eftsure can help a business achieve all of this without having very complex and massive procurement systems in place.

 

Broadband penetration on fast-tract 

Broadband penetration on fast-tract 

 

 

  • Says Danbatta, who unveiled achievements in Kano

 

The national target to achieve 70 per cent broadband penetration by 2025 is receiving renewed attention from the Nigerian Communications Commission (NCC), which promises 50 per cent before the end of 2023.

 

This promise was one of the highlights of the special media chat with executive editors and media chiefs in the northern part of the country, hosted by the Executive Chairman of the Commission, Prof. Umar Danbatta, to unveil his achievements since the resumption of office till date.

 

At the occasion, where Danbatta informed the media chiefs that Fifth Generation (5G) services subscriptions have already hit half a million in subscription, the various efforts of the Commission to improve broadband penetration are yielding fruitful results with the current estimates as at July 2023 standing at 47.01 per cent.

 

Using the extant reviewed five-pillar Strategic Vision Plan as building block, the EVC spoke to 119 milestones achieved under the five strategic pillars, including regulatory excellence, universal broadband, market development, digital economy and strategic collaboration.

 

Danbatta said through effective implementation of NCC’s mandates under his leadership and cooperation of internal and external stakeholders since 2015, telecommunications industry in Nigeria has achieved remarkable milestones under our leadership. “While we acknowledge the challenges encountered by the industry, we have also witnessed explosive growth, improved regulatory standards, and digital innovations that have garnered global recognition,” he said.

 

While reeling out impressive statistics that have characterized his leadership at NCC from 2015 to date, the EVC said active telephone subscribers had increased from less than 150.7 million to 218.9 million, representing a teledensity growth of 115.70 per cent from 107.87 per cent in 2015.

 

Through stimulating broadband infrastructure across the country, Danbatta said broadband penetration, which stood at 6 per cent in 2015 has increased significantly to 47.01 per cent as of July, 2023, enhancing over 89.73 million subscriptions on 3G, 4G and 5G networks in the country. Additionally, general Internet subscriptions have reached 159.5 million up from less than 100 million in 2015.

 

“Also, from 8 per cent contribution to the Gross Domestic Product (GDP) in 2015, telecommunications sector now contributes 16 per cent quarterly to the Nigerian economy as of the second quarter of 2023. besides, following the authorization of more telecommunications companies to operate in the Nigeria’s telecoms sector, the investments profile has increased tremendously from $38 billion in 2015 to $75 billion currently and this keeps growing daily. From the sales of Fifth Generation (5G) C-Band Spectrum, the NCC has generated over $847.8 million for the Federal Government,” he said.

 

Danbatta, who has received a gallery of awards nationally, regionally and globally in recognition of the outstanding performance of Nigeria’s telecom industry also listed several achievements recorded since 2015.

 

“Other milestones and initiatives recorded aside the regulatory activities that culminated in the landmark launch of 5G services in Nigeria include the introduction of Spectrum Trading Guidelines, re-farming and re-planning certain spectrum band for efficiency, the emplaced collaborative process for the release of C-Band Spectrum by Nigerian Communications Satellite (NIGCOMSAT) Limited, and introduction of the Expanded Revenue Assurance Solution (ERAS) to address revenue leakages and improve government revenue from the telecoms industry.

 

“These initiatives also include Licensing of Satellite Earth Stations, issuing of operating licence to SpaceX Satellite, facilitating the landing of additional submarine Cables, such as the Google 2,000km Equiano subsea Internet cable in 2022, listing of MTN on the Nigerian bourse, licensing of Mobile Virtual Network Operators (MVNOs), introduction of new unlicensed millimeter wave spectrum, and regulation of white space spectrum,” Danbata said.

 

Also as part of NCC’s commitment under Danbatta’s leadership, the Commission has endowed professorial chairs in Nigerian universities and committed over N500 million naira to Research and Development (R&D) in the telecoms sector. “The creation of the Digital Economy Department, the mandate to drive the implementation of the indigenous telecoms sector growth through the operation of the Nigeria Office for Developing Indigenous Telecom Sector (NODITS), are also important strides made by the Commission,” he said.

 

Danbatta said other consumer-focused initiatives of the Commission have also centered on the establishment of Emergency Communications Centres (ECCs) in over 30 States of the Federation and the Federal Capital Territory (FCT). All these centres are operational, as well as the creation of the Computer Security Incident Response Team (CSIRT). The EVC said these two initiatives have been helping consumers to  get succour in times of emergencies as well as ensuring effective protection for telecom consumers while online.

 

The NCC Chief Executive said the Commission has also taken very clear actions on consumer protection, advocacy, information-sharing and education. “These include introduction of data roll-over just before the expiration of subscribed data plans, introduction of the 622 toll-free number for lodging service-related complaints to the Commission, the Do-Not-Disturb (DND) 2442 Short Code for tackling the menace of unsolicited text messages,  elimination of forceful/deceitful subscriptions to telecom services on mobile networks, tackling the issue of call masking, ensuring effective Subscriber Identity Module (SIM) registration, launching of National Roaming service and reduction of access gaps to telecom services from over 217 to 97, thereby enhancing access to telecom services by more Nigerians,” Danbatta said.

 

However, Danbatta said while the industry still faces a number of challenges such as vandalism, securing equitable Right of Way (RoW) from governmental stakeholders, as well as multiple taxation and regulation, the Commission has put framework in place to work with necessary stakeholders to overcome the obstacles possed by these challenges and to sustain the growth trajectory which has been the hallmark of telecoms sector as an enabler of socio-economic development in Nigeria.

 

CBN, Partners Host Second International Financial Inclusion Conference October 2023

CBN, Partners Host Second International Financial Inclusion Conference October 2023

 

The second edition of the International Financial Inclusion Conference (#IFIC2023) Nigeria’s flagship Financial Inclusion event is scheduled to hold on the 5th & 6th of October 2023 at the    Landmark Event Center, Lagos, themed: “Financial Inclusion for All: Global Insights for Local Impact,”

Hosted by the Central Bank of Nigeria and partner agencies within the National Financial Inclusion Governance Committees, IFIC 2023 is an engagement platform for global thought leaders, regulators, and other stakeholders to discuss and collaborate on contemporary strategies for accelerating financial inclusion in the African continent and globally. Keynote speakers include Dr. Chea Serey, Governor of the National Bank of Cambodia; Dr. Alfred Hannig, Executive Director, Alliance for Financial Inclusion; and Dr. Reza Baqir, former Governor of the State Bank of Pakistan.

 

Key topics to be explored include fintech-driven last mile solutions, leveraging big data and artificial intelligence, inclusive product innovation (non-interest finance), leveraging payment systems to scale financial inclusion in excluded segments – women, rural, youth and MSMEs, Consumer protection, fraud and data privacy, etc. Other highlights include, Innovation Labs, Financial Inclusion Awards and other side events, with opportunities to showcase Nigeria as an investment destination to support economic development within Nigeria and the sub-region.

The maiden edition of the IFIC which held at the Transcorp Hilton Abuja, in 2022 was well attended by senior government officials from within and outside the country. Former President  Mohammadu Buhari, Queen Maxima of the Netherlands, selected Honourable Ministers of the  Federal Republic of Nigeria and other influential persons in the global financial inclusion ecosystem were in attendance. Over 5,000 participants were drawn from 78 countries and feedback on the event was overwhelmingly positive, with the 2023 edition much anticipated.

Overall, IFIC 2023 promises to be an insightful and engaging platform for networking with a vibrant and globally diverse Whova community and an eclectic mix of offerings to enrich participants’ in-person and/or virtual experience.

Don’t miss the biggest Financial Inclusion gathering in Africa! Join us at the Lagos

Landmark Event Centre, Thursday 5th and Friday 6th October 2023.

To register or for more information on the conference visit www.ificng.com

 

Creating New Experiences for People and Businesses on WhatsApp

Creating New Experiences for People and Businesses on WhatsApp

 

Today at our global Conversations event in Mumbai we’re introducing several new features that will help speed up how to get things done with businesses in a WhatsApp chat.

 

Faster Chat Experiences with Flows

 

 

We’re launching Flows so businesses can offer more experiences like quickly choosing your train seat, ordering a meal or booking an appointment – all without leaving your chat. With Flows, businesses will be able to provide rich menus and customizable forms that support different needs. We’ll make Flows available to businesses around the world using the WhatsApp Business Platform in the coming weeks.

 

Choose your Payments Service

 

We’re making it easier to complete a purchase directly in the chat. Starting today, people in India can add items to their cart and send a payment using the method of their choice from all supported UPI apps, debit and credit cards, and more. We’re excited to be working with partners Razorpay and PayU to make paying for something as simple as sending a message.

 

Meta Verified Businesses on WhatsApp

 

 

We’re making it possible for businesses to receive verification from Meta, which helps you know you’re chatting with the right business. To become Meta Verified, businesses demonstrate their authenticity to Meta and in return receive a verified badge, enhanced account support and impersonation protection. For businesses interested in signing up, Meta Verified will come with additional premium features including the ability to create a custom WhatsApp page that is easily discoverable via a web search, and multi-device support so multiple employees can respond to customers. We’ll begin testing Meta Verified soon with small businesses using the WhatsApp Business app before introducing it to businesses on the WhatsApp Business Platform in the future.

 

We’re excited to continue building great features for businesses to improve the customer service and other offerings they provide to people, and look forward to hearing how these new updates help establish connections, build relationships and get more done.

INTERIOR MINISTRY PARTNERS MINISTRY OF HUMANITARIAN AFFAIRS AND POVERTY ALLEVIATION

INTERIOR MINISTRY PARTNERS MINISTRY OF HUMANITARIAN AFFAIRS AND POVERTY ALLEVIATION

 

Honourable Minister of Interior Dr. Olubunmi Tunji-Ojo and Minister of Humanitarian Affairs and Poverty Alleviation Dr. Betta Edu has agreed to partner in order to reduce poverty in Nigeria. To achieve this objective, a joint Inter- ministerial Committee has been set up.

The Minister of Interior while explaining that the two Ministries have semblance on their mandate, believing that it is in such collaboration via formation of the joint committee by the Ministries that the laudable objective anchored in Renewed Hope Agenda of President Bola Ahmed Tinubu can be better achieved.

The Revelation for the partnership was rmade on Tuesday while the Minister of Interior Olubunmi Tunji-Ojo played host to his counterpart of the Ministry of Humanitarian Affairs and Poverty Alleviation Dr. Betta Edu, during a courtesy visit to his office.

Dr. Tunji-Ojo, appreciated the Humanitarian Affairs Minister for broadening the mandate of the ministry to cover vulnerable ex- service men of Services under the supervision of the Ministry and inmates of Correctional Facilitiies
While commenting on the excitement of Nigerians in diaspora as shared by the Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Olubunmi Tunji-Ojo reiterated that Nigerians must not be relegated from being citizens of Nigeria by denying them a passport.

He reiterated his belief that we must get it right now, adding that he receives updates every morning; that this very morning, he is been briefed that about 55. thousand passports has been cleared, out of the two hundred thousand passports backlog he instructed to be cleared in two weeks. He then assured that by the time the backlogs are cleared, Nigerians will start enjoying efficient service of having their passports issued within two weeks upon application.

Earlier, the Honourable Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Beta Edu, has appluaded the Minister of Interior for taking his work head-on; she saying her Ministry’s Mandate has been expanded to cover more Nigerians, that about 16 million Nigerians are susceptible to insecurity leading to their displacement, thereby causing humanitarian crises.

She also said her Ministry is ready to intervain in the provision of soft loan to the Widows of deceased NSCDC, Correctional officers, Men and Officers of Nigeria Immigration Service and Fire Service officers. According to her, inmates of Correctinal facilities will start enjoying similar intervention through skills acquisition programme.
She however since the Federal Fire Service is an agency under the Supervision of the Ministry that also respond to disaster, her attention will also be given in that direction; while NSCDC role in security intelligence will also be activated as part of the joint partnership.

Dignitaries in attendance are the Permanent Secretary, Ministry of Interior Dr. Oluwatoyin Akinlade, Directors in the Ministry, CGs of Agencies, DG NAPTIP, Directors of Humanitarian Affairs Ministry and the Minister’s aids.