Arca Payments Company Limited, one of the foremost financial technology (fintech) firms in Nigeria located at Lekki recently launched an Agency Banking solution known as Arca Money to ensure that Nigerians enjoy seamless banking and bridging the gap of the “unbanked” in the country. This is launch has cemented ARCA’s position as a fintech firm of repute which is making significant strides in shaping the future of digital payments in the country.

Arca Payments Company Limited is known for its expertise in payment gateways, payment switches, and the innovative ARCA Agency Banking, is setting new standards in fintech innovation.Founded in 2016, ARCA has rapidly established itself as a key player in Nigeria’s fintech landscape. Holding a comprehensive set of regulatory licenses issued by the Central Bank of Nigeria, including the coveted Switching License, Agency Banking License, and Processing License, ARCA has distinguished itself as one of the few entities with such a wide array of licenses. The company’s commitment to in-house development is evident in its proprietary switch technology, which has played a pivotal role in its journey, contributing to remarkable achievements within the fintech ecosystem and consolidating its position in the market.

ARCA’s primary mission centers around simplifying payment acceptance and processing for both financial institutions and SMEs. With a primary focus on Africa’s dynamic payments landscape, ARCA’s suite of products and solutions seamlessly bridges the gap between individuals, financial institutions, banks, and businesses, contributing to the growth of Africa’s digital economy.

In a media chat, Dare Owolabi, Executive Vice Chairman of Arca Payments Company Limited said that ARCA’s collaboration with the Central Bank of Nigeria (CBN) has been pivotal to its success. Owolabi commended the CBN for its support in creating a conducive environment for fintech growth, emphasizing the regulator’s dedication to addressing risks and complexities. He stressed the importance of continued collaboration from both operational and legal perspectives.

Owolabi said “As a stakeholder in Nigeria, ARCA Network has ambitious expansion plans across Africa. The company is poised to enter the East African region in the coming months, with efforts underway to secure licenses in Kenya. South Africa is also on the horizon, reflecting ARCA’s commitment to exporting its fintech expertise across the continent.”

He added that “ARCA’s Business-to-Business (B2B) solutions have been instrumental in reshaping the fintech landscape. The company’s Point of Sale (PoS) services, particularly the innovative Arca Pay feature, address common challenges in the PoS space. ARCA’s recently launched Agency Banking solution, known as Arca Money, empowers authorized agents to facilitate seamless financial transactions for customers, improving accessibility to banking services. ”
“Our groundbreaking solution is backed by extensive research, ensuring flawless transaction execution, instant settlements, and impressive uptime. Commission structures designed to benefit merchants have been integrated into the solution. ARCA’s PoS system has been made more readily available and cost-effective across different regions, simplifying banking and transactions for agents”, Owolabi opined.

On their payment gateway, ArcaPay, simplifies secure fund transfers for businesses, offering advanced technology for both single and bulk transfers. Additionally, Arca TMS, a software managing POS terminals, provides monitoring and analytics for ARCA Payments and its customers, along with a robust report engine for acquirers and merchants to access transaction data from their terminals. Arca Switch, a cutting-edge payment infrastructure built with cloud-native technology, facilitates seamless payments between financial institutions and non-financial players.

Security is paramount at ARCA Network. The company proudly holds the Payment Card Industry Data Security Standard (PCI DSS) certification, emphasizing its commitment to security and compliance with global best practices. Impressively, ARCA has maintained an impeccable record with zero instances of fraud. This success is attributed to the vigilance of dedicated fraud monitoring and compliance teams, who consistently prioritize security.

To ensure robust support and address potential downtime issues, ARCA has implemented a comprehensive mechanism to manage online real-time operations. Backup systems are in place to mitigate disruptions arising from external factors, such as internet network providers. ARCA’s support system operates around the clock, ensuring that queries and concerns are promptly addressed.

ARCA Network’s future plans include enhancing its Agency Banking offering with new features and functionalities. As the year approaches its end, ARCA Network is actively engaged in extensive awareness campaigns and sensitization efforts, particularly focused on their Agency Banking services.

 

ANTHONY EMEKA NWOSU

 

ArcaPay, simplifies secure fund transfers for businesses, offering advanced technology for both single and bulk transfers. Additionally, Arca TMS, a software managing POS terminals, provides monitoring and analytics for ARCA Payments and its customers, along with a robust report engine for acquirers and merchants to access transaction data from their terminals. Arca Switch, a cutting-edge payment infrastructure built with cloud-native technology, facilitates seamless payments between financial institutions and non-financial players.

 

Nigeria Data Protection Commission (NDPC) has initiated bilateral cooperation on data privacy and protection with the Office of the Information Commissioner, United Kingdom. At its Study Visit to the OIC located in London and Wilmslow, UK the NDPC team led by its National Commissioner, Dr. Vincent Olatunji, gained insight into the workings of a full-fledged data protection authority. Dr. Olatunji shared Nigeria’s experience and innovations in the implementation of the Nigeria Data Protection, 2023. The NDPC team was received by the ICO Deputy Commissioner for Regulatory Supervision, Stephen Bonner.

During the Study Visit of 28th -29th September, 2023, the two authorities explored various areas of data protection regulation, particularly: Policies and Statutory Guidelines, Data Protection Impact Assessment, Children’s Privacy Data, Data Controllers Registration & Fees, Enforcement, Investigations & Penalties. Further bilateral consultations will be held towards developing a Memorandum of Understanding to deepen knowledge exchange and data privacy between the Two Data Protection Authorities.

The ID4D Project Coordinator, Mr. Solomon Odole who participated in the meetings as part of ID4D support towards the establishment of the Commission reiterated the importance of developing strong ties with data protection authorities in other countries and foster data flows.

Itunu Dosekun
Head, Media Unit.

 

 

Minister for Labour and Employment, Simon Bako Lalong, has assured the International Labour Organisation that Nigeria will continue to work closely with the body to enhance the welfare and well-being of workers, as well as promote the dignity of Labour in line with all Conventions it is signatory to.

The Minister was speaking when the Country Director of ILO, Vanessa Phala paid him a courtesy visit at the Ministry’s Headquarters in Abuja.

The Minister appreciated the support and collaboration of the ILO over the years, particularly in the areas of capacity-building and partnerships that have made the work environment for Nigerians productive and engaging.

He said under President Bola Tinubu’s Renewed Hope Agenda, the Ministry of Labour and Employment is very much ready to take the relationship with the ILO to a higher level.

Lalong also assured the ILO team that Nigerian would continue to work on the implementation of all the protocols it has ratified as a way of building confidence within the country and on the international level.

Earlier, in her remarks, the ILO Country Director, who also oversees Ghana, Sierra Leone, Liberia and the ECOWAS, Vanessa Phala said they were at the Ministry to congratulate the Minister and the Minister of State on their appointments and to assure them of the readiness of the Organisation for more collaboration with the Federal Government.

She said the ILO would stay steadfast in ensuring that Nigeria attained the National Employment Policy, effectively deal with the matters of child and forced labour, as well as other issues.

The Country Director also commended Nigeria for being up to date in its reporting system which is noteworthy.

She urged the Minister to pursue the priorities of job creation, enterprise development, social protection and the establishment of the National Labour Advisory Council, which would enhance dialogue and minimise industrial disputes through proactive measures.

Olajide Oshundun,

 

In a resounding chorus of praise, a stakeholder group in the Nigerian Information and Communication Technology (ICT) has commended the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, for his remarkable leadership and the unprecedented achievements in the nation’s telecom sector.

The stakeholders came under the auspices of the Nigeria Information Technology Reporters’ Association (NITRA).

According to the body, under Danbatta’s visionary leadership, Nigeria’s telecom sector has witnessed an astounding transformation, transcending previous limitations and emerging as a beacon of progress. His eight-year tenure as the EVC of the NCC has seen the sector attract a staggering $77 billion in investments, catapulting it to the forefront of the nation’s economic landscape.

The ICT group lauded Danbatta for overseeing a sector that now contributes a substantial 16 percent to Nigeria’s Gross Domestic Product (GDP), a notable increase from its 8 percent contribution in 2015. The financial impact of the sector is undeniable, with a recent report from the National Bureau of Statistics (NBS) revealing a significant N2.508 trillion contribution to the nation’s GDP in the first quarter of 2023, representing 14.13 per cent.

National Chairman of NITRA, Chike Onwuegbuchi, in a statement, said one of the key achievements highlighted by the ICT community was Danbatta’s bold move to embrace 5G technology, positioning Nigeria as an early adopter in the global digital economy. He said this strategic decision resulted in the generation of $820.8 million for the federal government from 5G spectrum license fees paid by leading operators.

“Furthermore, the issuance of a license to Elon Musk-owned SpaceX for Starlinks broadband services, a satellite-based wireless broadband offering with nationwide coverage potential, has been a game-changer for the industry and a testament to Danbatta’s forward-thinking approach,” he said.

The ICT group also emphasized the remarkable growth in telephone users, internet subscribers, and broadband users under Danbatta’s stewardship, which has soared to 218.9 million, 159.5 million, and 88.7 million, respectively, noting that these figures, along with the creation of numerous jobs, have underscored the sector’s pivotal role in Nigeria’s economic development.

The ICT group said Danbatta’s unwavering commitment to innovation, regulatory excellence, and active stakeholder engagement has set a powerful precedent for success and acknowledged the sector’s resilience in the face of challenges such as infrastructure vandalism, regulatory complexities, and power supply issues.

The ICT community has urged the federal government to replicate the telecom sector’s success in other industries to propel Nigeria into the ranks of the world’s top 20 economies. They view Danbatta’s leadership as a testament to what can be achieved with dedication, innovation, and visionary leadership.

Meanwhile, as the accolades pour in, Danbatta’s transformative leadership in Nigeria’s telecom sector serves as an inspiring example of how visionary leadership can drive growth, innovation, and prosperity in the nation’s economy.

“His legacy will undoubtedly be remembered as a cornerstone of Nigeria’s digital transformation journey,” said Chike in the statement.

 

President Bola Tinubu extols the virtue of his long-time ally, confidant, and present Minister of Solid Minerals Development, Hon. Dele Alake, on the occasion of his 67th birthday.

The President cherishes Hon. Alake’s patriotism and unwavering dedication to service, as well as the close relationship they have shared over the span of four decades.

President Tinubu reflects on the long journey they have embarked upon together, from the Minister’s days as Editor of the National Concord to his tenure as the Commissioner for Information and Strategy in Lagos State during the President’s service as the Executive Governor of Lagos State from 1999 to 2007, all the way through to their most recent and extraordinary journey into the State House.
“Through it all, Dele has proven to be a partner and worthy brother,” the President declares.

President Tinubu affirms that Hon. Dele Alake possesses uncommon versatility and strength of character that leaves a lasting impression on everyone he encounters, imparting the true essence of loyalty, trust, respect, and empathy.

The President thanks the accomplished public servant for his loyalty over the years, both in times of triumph and in times of difficulty.

President Tinubu looks forward to many more years of great memories, successes, and continued camaraderie.

As the beloved celebrant embarks on a new chapter of service to our nation, the President joins family, friends and well-wishers at home and abroad in offering heartfelt prayers, seeking divine guidance and success for the Honourable Minister in his new assignment.

 

  • Organisers announce ATAEx voting portal

The third edition of the Africa Tech Alliance Forum (AfriTECH 3.0) is scheduled to hold on the 8th of November 2023 at the Providence Hotel, Ikeja, Lagos, themed: “Technology-as-a-Service (TaaS) in Emerging Economy”.

Similarly, voting has commenced for the Africa Tech Alliance Excellence (ATAEx) awards through the: https://vote.africatechallianceforum.africa/.

Today, the boundary between hardware and software is blurring. Software is infiltrating more and more technology products that used to function only by mechanical rules and analog signals.

Different models of driverless cars are navigating themselves with sensors and software. This trend is not stopping. Hardware-based technology companies often find themselves falling behind their innovative software counterparts in identifying new value for customers.

In more dramatic cases categories of hardware technology got replaced by software. No one still buys radio or CD players anymore.

Thus, software is threatening to replace hardware-based networking. The “commoditization trap” for hardware seems impossible to escape without a product strategy backed by software innovation hence over 70% of the world economy has become services, and this percentage continues to grow worldwide.

As of 2020 the United States produced 79% of its GDP in services. Majority of the companies in Africa are strategizing to compete primarily on a service basis.

This approach referred to as Technology-as-a-Service (TaaS), which is the rising future for technology sectors, will be discussed at AfriTECH 3.0.

Hosted by TechCastle Foundation in collaboration with Techeconomy and partners, AfriTECH 3.0 is a unique engagement platform for global thought leaders, regulators, and other stakeholders to discuss and collaborate on contemporary strategies for accelerating technology ecosystem in the African continent and globally.

Key topics to be explored include TaaS-driven last mile solutions, leveraging big data and artificial intelligence, inclusive product innovation, Driving ‘TaaS’ Model through infrastructure deployment, leveraging subscription model to survive tough economic times, cloud computing, omnichannel communications for improved CX, Consumer protection, fraud and data privacy, etc.

The past editions of AfriTECH were well attended by C-Suite executives, investors, innovators, senior government officials from within and outside the Continent. With over 1,500 participants and feedback on the events overwhelmingly positive, the 2023 edition is much anticipated.

Overall, AfriTECH 3.0 promises to be an insightful and engaging platform for networking with a vibrant and globally diverse community and an eclectic mix of offerings to enrich participants’ in-person and/or virtual experience.

“Africa Tech Alliance Forum Excellence Award (ATAEx Award) recognises the pivotal role of the technology ecosystem in the development of Africa’s economy. ATAEx award is merit centric for organisations and individuals that have contributed to the growth and development of the ICT industry in Africa”, Chike Onweuegbuchi, the co-founder of TechCastle Foundation said, who called on tech enthusiasts to vote through the link: https://vote.africatechallianceforum.africa/.

“In its 3rd edition, this edition we are introducing an online voting process for stakeholders in the sector to select who deserves to be awarded in each category”.

 

 

 TechEconomy, a leading technology-focused organization, is excited to announce its participation in the forthcoming #StartupSouth8 conference, organized by StartupSouth. This year’s conference will take place on October 5-6, 2023, in Port Harcourt, Rivers State, Nigeria.

#StartupSouth8, the eighth edition of the annual event, has chosen the theme “Deep & Bold: 5IR, Emerging Realities, Regional Economic Imperatives & The Role of Innovation” as its central focus. Within this framework, TechEconomy will be hosting a special session as part of the Session Hosting program, titled “5IR: Media Innovation for Regional and Economic Growth.”

The panelists for this engaging session are distinguished experts in their fields:

Peter Oluka, Editor at TechEconomy

Ebere Ogwumoyi, General Manager at RedCloud Technologies Nigeria

Victor Siokwu, Managing Director of Shimol Services Limited

Ndume Green, Founder and Creative Director of CapitalTV

Diekolaoluwa Omolaja, a renowned brand strategist and Head of Business at TechEconomy, will serve as the moderator for this insightful discussion.

The TechEconomy session promises to explore innovative approaches to media in the context of the 5th Industrial Revolution (5IR) and its potential impact on regional economic growth. It will be a unique opportunity for attendees to gain valuable insights into the intersection of technology, media, and economic development.

For more information about TechEconomy and its participation in #StartupSouth8, please visit our website at www.techeconomy.ng or contact our media relations team at media@techeconomy.ng.

About TechEconomy: TechEconomy is a leading technology-focused organization dedicated to exploring and promoting innovations that drive economic growth and development. With a mission to bridge the gap between technology and business, TechEconomy provides valuable insights, organizes events, and fosters collaboration between industry leaders, entrepreneurs, and innovators.

 

Cellulant, a leading fintech firm in Africa, is proud to announce its state-of-the-art payment infrastructure and revolutionary payment solution, TING, designed to instill confidence and facilitate seamless digital transactions across the continent.

With over 20 years of experience, Cellulant has established an extensive payment infrastructure, encompassing over 370 integrated payment methods across 35 markets. This remarkable achievement showcases Cellulant’s commitment to providing secure and reliable payment solutions to its customers. The company has made substantial investments in robust security measures and compliance processes, ensuring the highest standards of security. Cellulant has obtained prestigious global certifications, including ISO 27001, ISO 27701, and PCI DSS, which solidify its reputation as a trusted partner for merchants and businesses.

Recognizing the growing demand for contactless transactions, Cellulant introduces TING, an innovative payment solution that caters to evolving customer preferences. While NFC-enabled payments are still a work in progress, Cellulant is actively rolling out this feature based on market needs. TING serves as a comprehensive payment collection platform, enabling businesses to offer seamless payment experiences to their customers. With TING’s in-store solution, merchants can establish a single payment collection point, simplifying transactions for customers who prefer physical payments. The platform supports multiple payment channels, ensuring timely payment notifications and streamlining the payment process.

“We are thrilled to unveil our robust payment infrastructure and cutting-edge payment solution, TING,” said Ibrahim Aminu,General Manager for Cellulant. “Our goal is to accelerate Africa’s economic growth by providing secure and convenient digital payment options. With our extensive payment methods and stringent security measures, we aim to instill confidence in our customers and revolutionize the way transactions are conducted in Africa.”

TING offers a versatile payment acceptance solution, providing customers with a range of payment options. Whether using mobile banking applications, debit cards, or direct bank transfers, users can seamlessly make payments through TING. The platform caters to various banking preferences and ensures a hassle-free payment experience for all customers.

In addition to its advanced payment features, TING also offers merchant tools designed to enhance business operations. From streamlined sales transactions to comprehensive payment management, TING empowers businesses with efficient payment solutions. It is particularly advantageous for businesses with multiple stores and payment counters, allowing for centralized payment collection and reporting.

Cellulant’s focus on driving Africa’s economic growth through digital payments has positioned the company as a leading fintech firm on the continent. TING, with its innovative capabilities and dedication to security, is set to revolutionize the payment landscape in Africa.

About Cellulant:

Cellulant is a prominent fintech firm in Africa, specializing in providing innovative payment solutions across the continent. With a strong focus on security and compliance, Cellulant has established an extensive payment infrastructure comprising over 370 integrated payment methods across 35 markets. The company’s flagship payment solution, TING, offers a seamless payment experience, catering to various customer preferences and driving Africa’s economic growth through digital payments.

Itel, a leading mobile phone brand, unveiled its latest flagship smartphone, the itel S23+, marking a groundbreaking moment in the Nigerian smartphone industry.

The itel S23+ is poised to redefine the mobile phone landscape with a range of innovative features:

Dynamic AMOLED 3D Curved Screen: Experience stunning visuals and vibrant colors on the cutting-edge display.

In-Screen Fingerprint: Effortlessly unlock your device with advanced biometric technology.

256GB Mega Storage: Store all your memories, apps, and files with ample space.

16GB RAM: Seamlessly multitask like never before, catering to power users.

36-Month VIP Warranty: Enjoy an extended warranty for peace of mind.

Six Months Free Screen Replacement: Protect your investment with added assurance.

Oke Umurhowho, Senior Marketing Communications Head at itel, emphasized the device’s unique qualities, stating, “The itel S23+ introduces Aivana, an AI assistant that sets new standards in mobile technology. Aivana surpasses other mobile phone assistants, including those found in major competitors, due to its AI-powered capabilities.”

He continued, “We take immense pride in the itel S23+, a testament to our team’s dedication and hard work. Over the years, we’ve consistently pushed the boundaries of marketing and innovation to provide our customers with the best.”

Designed with Nigerian consumers in mind, the itel S23+ offers premium features at an affordable price point, making it a game-changer in the industry. This device promises quality without compromise and is poised to become the smartphone of choice for discerning users.

Join itel on this exciting journey as they continue to bridge the digital divide and make innovative technology accessible to all Nigerians. A brighter future awaits, with itel leading the way.

 

The Honourable Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, has announced the restructuring of the National Safety Nets Programmes and appointments of new Programme Heads for the various clusters under the programmes.

The Minister made this known during her meeting with the management and staff of the National Social Investment Programme Agency in Abuja.
She said the restructuring and appointments is in line with President Tinubu’s Renewed Hope Agenda.

According to the Minister, the changes became necessary to give energy and sense of direction with desired results.

She said N-Power and other programmes were rolled out to create jobs and not pains for Nigerians, reminding them that their appointments are under probation for a period of six months.

Dr Edu warned that anyone who performed below expectations would be replaced, directing them to go to the field where the poor live and not to sit in their air-conditioned offices in Abuja.

“Every day, you must be out on the field achieving results. Nigerians are waiting. We have zero tolerance for inefficiency, excuses and verified results”.

The restructured programmes will target the relevant people, be transparent and accountable as well as rebuild the trust of the people in government again.
Speaking further, she said beneficiaries of the programmes must be willing to sign full Disclosure.

“We need to be more effective, imbibe private sector mentality, be flexible and work as a team”.

The appointments are as follows:
1) National Coordinator NASSCO- Hon Abdulaziz Danladi
2). National Cash Transfer Office NCTO Head of office – Dr Micheal Ajuluchukwu
3) NCTO Deputy Head of Office- Dr Janet Ekpenyong
4) National Programme Manager,Youth Empowerment Empowerment and Social Support Operations (YESSO) – Richard Romanus
5) National Communication manager NSIP – Hon Jamalu kaburu
6)National Programme Manager, Renewed Hope Shelter Programme for Refugees ,Poor and Internally Displaced Persons- Hon Chidinma Makuachukwu
7)National Programme manager, Grant For Vulnerable groups – Hon Thalis Apalowo
8)Programme Manager , At Risk Children Programme- Hajia Salia Sanusi Yusuff
9)National Programme Manager, National Home grown School feeding Programme (Renewed Hope Home Grown School feeding and End Hunger programme)- Hon Mrs Angor Obande
10) Government Enterprise and Empowerment Programme (Renewed Hope MSME Loan Programme)- Hon Dr Joseph Nkang.
11) Programme Manager,
N-Power Programme (Renewed Hope Skills Acquisition Programme) – Dr Akindele Adekunle Egbuwalo
12)Renewed Hope IDP Refugees out of school Programme (National Alternate school Programme )- Dr Mrs Etcheri Ansa
13) National Project Manager, Community and Social Development Programme- Hon Olubunmi Bello
The Honourable Minster of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, remains the Chairman, National Social Safety Net Coordinating Office(NASSCO) Management Team, while the Secretary NASSCO Management Team is Abel O. Enitan, the Permanent Secretary, Ministry of Humanitarian Affairs and Poverty Alleviation.
The Minister charges the new appointees to bring their wealth of experience to bear in their new offices as there will be no room for excuses or failure, in the actualisation of Renewed Hope mandate and in moving Nigeria Forward. The appointments take immediate