Speaking at the 2nd National Corporate Governance Summit in Lagos, Igbalajobi offered invaluable insights into the challenges and opportunities facing the industry during a plenary session on “Fintech Evolution and Corporate Governance Imperatives for Sustainable Impact”.

The STSL Managing Director was joined by industry leaders such as Babatunde Obrimah, Chief Operating Officer, Fintech Association of Nigeria; Femi Williams, CEO, NewWaves Ecosystem; Patrick Akinwuntan, Former Managing Director, Ecobank Nigeria PLC; and Agada Apochi, CEO, Unified Payment Services Limited.

In response to a question on SystemSpecs’ journey with the Federal Government’s Treasury Single Account (TSA) project, Igbalajobi highlighted the importance of strong corporate governance, a sense of responsibility and adherence to best practices in delivering such projects.

“Corporate governance is not a luxury – it is a necessity. Our experience with the TSA project has shown that strong and demonstrable corporate governance culture that runs from the organisation’s Board right through to its operational and business practices can be a lifeline when such projects are challenged or questioned, and you need to show evidence of what had been done. Without this, the fundamentals of the organisation, and potentially its existence, can become questionable”, Demola Igbalajobi remarked, pointing out the long-term repercussions of short-sighted decisions.  

The 2nd National Corporate Governance Summit brought together over 500 industry leaders, policymakers, and experts to discuss and advocate for stronger corporate governance frameworks in Nigeria.

According to recent data from the Nigerian Stock Exchange, companies with robust governance practices have seen a 40% increase in investor confidence and a corresponding rise in market capitalisation.

Other speakers at the summit echoed Igbalajobi’s sentiments: Dr. Olusegun Aina, President of the Fintech Association of Nigeria, emphasised, “Corporate governance is the backbone of sustainable fintech growth. Without it, we risk undermining the very foundations of our technological advancements.”

Professor Oluseyi Oduyemi, a renowned expert in corporate governance, also added, “The statistics are clear: companies with strong governance frameworks outperform their peers by 30% in terms of long-term profitability.”

Demola Igbalajobi also noted the importance of combining technical expertise with a deep understanding of the business environment. He emphasized the need for companies to advocate for Nigerian interests, particularly when dealing with foreign partners.

The post Demola Igbalajobi Urges Fintechs to Prioritise Corporate Governance appeared first on Tech | Business | Economy.

Speaking during the first edition of the SystemSpecs Tech Innovation Webinar Series held recently in partnership with FintechNGR, Igbalajobi passionately emphasised the need to create practical digital solutions that enhance people’s daily lives.

The event themed “Cashless Policy: Sustaining Digital Payments beyond the Currency Redesign,” drew together some of the finest minds in the fintech industry including Dr. Henrietta Onwuegbuzie, Director, Business Innovation Accelerator, Lagos Business School; ‘Deremi Atanda, Managing Director, Remita; Tomilola Majekodinmu, Founder/CEO Bankly and others ) and others who discussed how to best sustain digital payments in Nigeria.

The webinar also explored innovative solutions that could be implemented to address the challenges that digital payment platforms currently face, including fraud, cybersecurity threats, and user adoption.

Drawing on his expertise, Demola highlighted the importance of developing user-friendly and secure platforms that inspires trust among users, hence, leading to increase adoption rates.

“There are some ecosystems that happen every day – schools, churches, communities, markets – how do you build digital solutions that cater to their needs and enable seamless transactions in that ecosystem before it is implemented for others? We need to work together as stakeholders to build trust in digital payments for people to feel safe or secure when using them,” he remarked.

Demola further noted that the widespread adoption of digital solutions will depend on their efficiency in solving people’s problems.

“If you can create solutions that can sustain ecosystems as well as daily transactions, then you’re going to get traction. So it is about acceptance and creating innovations that bring value,” he added.

Demola Igbalajobi is the Managing Director of SystemSpecs Technology Services Limited (STSL), a leading provider of innovative financial and human resource management solutions in Nigeria. With over two decades of experience in the technology industry, Demola has been instrumental in driving the growth and success of SystemSpecs, overseeing the development and implementation of innovative products and services that have transformed the fintech landscape in Nigeria.

He has held several leadership positions in leading technology companies in Nigeria and the United Kingdom, where he gained extensive experience in software development, project management, and business strategy.

SystemSpecs Technology Services Limited (STSL) is a leading provider of innovative financial and non-financial solutions in Nigeria and the developer of Pouchii, a digital community solution, and FundACause, an indigenous fundraising solution.

The post SystemSpec’s Demola Igbalajobi Urges Fintechs to Develop Digital Solutions that Enhance Daily Lives appeared first on Tech | Business | Economy.

FundACause is a fundraising solution for individuals, Non-Government Organisations (NGOs), religious organisations, and other groups who desire to raise funds from donors within and outside Nigeria, for causes that are important to them, in a transparent and secure manner.

Developed to manage donation-based fundraising, FundACause—available at fundacause.net—offers fundraisers immense ease to generate funds, create awareness, track campaigns online and in real-time, share donation progress with donors, enjoy prompt funds settlement, and achieve their goals.

Donors, from within and outside Nigeria, can easily connect with any campaign that aligns with them, and donate through multiple payment options available on the platform.

“With a focus on non-investment fundraising, FundACause is the go-to platform for philanthropic individuals and organisations that seek to promote causes that touch lives. Fundraisers can set up their campaigns securely on any cause – be it medical, education, political, social or community causes and others; tell a story about their cause with a picture or video; set a campaign target; create awareness for campaigns and share the unique campaign link via email and preferred social media platforms – Facebook, Twitter, WhatsApp, Telegram and LinkedIn. Also, a white-labelled version can be embedded in the fundraiser’s website.

“Donors from within and outside Nigeria can view different campaigns and make donations using any of the multiple channels available. Fundraisers have full visibility over the campaign performance. They can also communicate with donors whilst keeping them abreast of the donation progress,” said Demola Igbalajobi, Managing Director, SystemSpecs Technology.

Speaking further on the need for a fundraising platform like FundACause, Igbalajobi said:  “In a society like ours where a lot more still needs to be achieved through social cooperation, FundACause will foster a community that thrives on impactful living, driving the much-needed positive change in society through fundraising activities and social interventions of well-meaning individuals and groups who strive for overall societal good and advancement,” Igbalajobi added.

FundACause was developed by SystemSpecs Technology, a subsidiary of SystemSpecs – Africa’s flagship technology services and solutions provider, which delivers diverse innovative solutions including human resources, payments, and fundraising to a variety of user segments in Nigeria and across the African continent. 

SystemSpecs is also the owner of Remita, Nigeria’s leading financial technology solution, and HumanManager, the foremost human resources and payroll solution for businesses of any size in Africa.

The post SystemSpecs Launches FundACause to Facilitate Donations in Nigeria, Others appeared first on Tech | Business | Economy.