This is one of the several calls made at the ‘Idea Dinner with the Top CEOs’, which was organised by TechLife Media & Communications Limited for major stakeholders drawn from the Nigerian business community, especially those in the Information and Communications Technology industry.

Specifically, Mr. Yemi Oshodi, the chief executive officer of iCSL and Coordinator of 2024 Best Ideas, said what rules the world today is an idea as every noticeable breakthrough in the world came as a result of an idea.

While urging Nigerians with great ideas to share them with government agencies like the National Information Technology Development Agency (NITDA) and the Nigerian Communications Commission (NCC), Mr. Yemi believes that Artificial Intelligence is a game changer that is going to do wonders in every sector with an emphasis on agriculture, security and financial services.

“My appeal to every Nigerian is to think and come up with ideas that can move the country. When you have an idea, do not hide it thinking someone may likely use it. The most important thing is it helps to move our country forward,” he said.

Also, in the area of rural telephony, Mr. Yemi believes that it is an untapped area that will massively aid the development of the digital economy that is being championed by the federal government.

According to him, even though the government has started working to get the whole country covered in terms of telephone services, many rural areas remained underserved and unserved. These areas without telephone service remained so after 23 years of liberalisation of mobile services as a result of the lack of ideas.

He argued that if Nigerians can explore the Universal Service Provision Fund (USPF) domiciled with the NCC by coming up with workable ideas, all 774 local government areas across the country will be covered by telephone services.

This will in turn create direct and indirect jobs, reduce rural-urban migration and ultimately, increase the industry’s gross domestic product (GDP) to the economy.

Other stakeholders who spoke at the event supported by Information Connectivity Solutions Limited, Digital Realty, Internet Exchange Point of Nigeria, TeamNigeria for Change, Inlaks, Coscharis Technologies and a host of others seek ideas to manufacture most equipment needed for the industry to thrive locally.

They noted that such an idea will help solve the forex challenges that Nigeria is presently grappling with.

Meanwhile, in her welcome address, Ms. Ugochi Emmanuel, convener of the ‘Idea Dinner with the Top CEOs’ said the Idea Dinner focusing on the theme “Critical Thinking to Building a Sustainable Digital Economy” is a call to awakening the minds of Nigerians.

“We are acutely aware of the transformative power of digital technologies and their profound impact on every aspect of our lives. However, with these opportunities also come significant challenges that demand our collective attention and strategic thinking. Thus, it is important to call the meeting involving both the public and private sector players,” she said.

She noted that innovations such as artificial intelligence, blockchain, big data analytics, and the Internet of Things are reshaping business models, disrupting traditional industries, and creating new opportunities. Thus, staying abreast of these developments and harnessing their full potential requires not just technological prowess but also critical thinking and strategic foresight.

“Addressing the challenges of cybersecurity and data privacy demands not only robust technological solutions but also a deep understanding of risk management, ethical considerations and regulatory compliance. This is where we need ideas,” she added.

According to her, the quest for a sustainable digital economy necessitates a concerted effort to bridge the digital divide. Also, overcoming disparities in the industry requires innovative strategies, collaboration across sectors, and a commitment to ensuring that the benefits of the digital revolution are shared equitably.

The post Form Ideas Around AI And Rural Telephony, Stakeholders Urged appeared first on Tech | Business | Economy.

Payments Forum Nigeria [PAFON] is an event focused on providing inside-look at the payment industry in the country, offering perspectives from key stakeholders, including payment networks, technology innovators, leading merchants, issuers, acquirers and payment processors.

PAFON 1.0 is scheduled to take place this Thursday, March 21, 2024 at the Oriental Hotel, Lekki Road, Lagos by 9am-12noon, under the theme: “Payments: Trust, Security and Privacy in AI Era”.

Register here: https://bit.ly/4c4N19H

Moniepoint Inc., founded with the vision to create a society where everyone experiences financial happiness, joins other sponsors of the event: Digital Encode Limited (a leading consulting and integration that specializes in the design, management, and security of business-critical architecture); Cybervergent (a company dedicated to helping protect business sensitive data from cyber-attacks, including customer information, financial records and intellectual property); Payble (a fintech startup that modernises local government payments such as creating citizen-centric payment experiences, delivering flexible billing and simplified rate collection, and Inlaks, an IT company that offers core banking, fraud management, cybersecurity, cloud, data center, enterprise risk management, amongst other industry players.

Moniepoint Inc is the parent company of TeamApt Limited, a Central Bank of Nigeria (CBN) licensed Switch and Processor, and Moniepoint Microfinance Bank, a CBN-licensed Microfinance Bank, and operates the largest distribution network for financial services in Nigeria through its subsidiaries, and has been awarded by the CBN in 2022 as the most inclusive payment platform in the country.

Over 70 million people use their cards on Moniepoint’s POS terminals monthly across every local government in Nigeria.

Led by its Group CEO, Tosin Eniolorunda, Moniepoint Inc.’s technology has powered businesses, offering all the payment, banking, credit and business management tools they need to succeed. It aims to power the dreams of businesses, their employees and customers by providing them with the financial technology tools they need to grow, no matter their digital literacy level.

Moniepoint Inc. currently processes the majority of the POS transactions in Nigeria through its subsidiaries, processing over $182 billion in TPV.

It is Africa’s largest Fintech by transaction volume. It is profitable and, in 2022, became QED Investors’ first investment into Africa.

Moniepoint Inc was recently named as the Fintech Company of the Year by the Leadership Newspapers Group.

Speakers:

Meanwhile, speakers lined for PAFON 1.0 are: Chibuzo Efobi, Director, Payments System Management, Central Bank of Nigeria (CBN); Festus Amede, Chairman, Committee of Chief Information Security Officers of Nigerian Financial institutions (CCISONFI); Dr. Adewale Peter Obadare, Chief Visionary Officer (CVO), Digital Encode Limited; Adetokunbo Omotosho, Chief Executive Officer, Cybervergent; Roosevelt Elias, Founder, Payble; Ikenna Ndugbu, Chief Compliance Officer, Moniepoint MFB, and others.

Participation:

Participation is FREE, however, pre-registration is required: https://bit.ly/4c4N19H

The post Moniepoint Emerges Lead Sponsor of Payments Forum Nigeria (PAFON 1.0) appeared first on Tech | Business | Economy.

Financial industry experts are warming up for the first edition of PAFON, scheduled to take place at Oriental Hotel, Lekki Road, Lagos on Thursday March 21, 2024, by 9am.

The Forum aims at providing an inside-look at the industry, offering perspectives from key stakeholders, including payment networks, technology innovators, leading merchants, issuers, acquirers and payment processors.

Throughout the years, the finance world has shifted into something much more than just banking and big corporations.

Speaking ahead of the star-studded PAFON 1.0, with the theme: “Payments: Trust, Security and Privacy in AI Era”, Dr. Adewale Peter Obadare, the Chief Visionary Officer [CVO], Digital Encode Limited, said that customers want to be assured that their sensitive information, such as credit card numbers and personal details, is treated with utmost care hence security has become paramount in the payments industry.

“Secure payment processing ensures that data breaches are minimized, instilling confidence in customers to keep coming back. Nigerian financial institutions reported ₦159 billion ($201.5 million) lost to fraud cases since 2020, according to the Financial Institutions Training Centre (FITC). This is what the experts must tackle and customer awareness is key too”, he said.

Based on a report by Gartner, by 2024, 40% of privacy compliance technology will rely on AI, up from 5% in 2019, and by 2025, 60% of large organizations will use at least one privacy-enhancing computation technique in analytics, business intelligence, or cloud computing, and financial services industry is no exempted.

On the other hand, Roosevelt Elias, the co-founder of Payble, described PAFON as a ‘must-attend’ Forum due to the ‘issues listed to be discussed are germane and require critical attention.

For instance, building financial inclusive products requires a mix of technology and illiteracy. The industry can’t achieve this by working in silos; we just have to unite to achieve the set target on financial inclusion, particularly for the rural dwellers.

Digital Encode Limited (a leading consulting and integration that specializes in the design, management, and security of business-critical architecture); Cybervergent (a company dedicated to helping protect business sensitive data from cyber-attacks, including customer information, financial records and intellectual property); Payble (a fintech startup that modernises local government payments such as creating citizen-centric payment experiences, delivering flexible billing and simplified rate collection, will be joined at PAFON 1.0 by Inlaks, an IT company that offers core banking, fraud management, cybersecurity, cloud, data center, enterprise risk management, amongst other industry players.

“Our goal is to enable information exchange and knowledge sharing on key industry insights issues amongst key stakeholders, with the objective of ensuring a collaborative and proactive approach to push for policies that enable growth, tackling/mitigating fraud and limiting occurrences and losses”, said Mr. Chike Onwuegbuchi, the co-founder of TechCastle Foundation, organisers of Payment Forum Nigeria (PAFON).

He said that the Forum is driven by the reasons to; “educate and inform financial service players and other stakeholders on various issues and trends (both locally and globally); proactively share data/information amongst banks, Fintechs and other service providers, to enable prompt responses to prevent and/or limit (customer-related) losses; and discuss key Payments security trends”.

“Speakers will be drawn among industry players such as banks, Fintechs, mobile money operators, blockchain experts, Cybersecurity, etc., as we expect attendees from the Central Bank of Nigeria (CBN); e-Banking Heads; Chief Compliance Officers of banks in Nigeria; Chief Internal Auditors of banks in Nigeria; Office of The National Security Adviser; Switching companies; the Economic and Financial Crimes Commission; Licensed Mobile Payment Operators; Electronic Payments Providers; Information Security Experts; Consumer Protection; Financial Policy and Regulation; Information Technology; Legal Services; Banking Supervision; Corporate Communication; Shared Services Office; Blockchain Security Experts, etc”, he added.

Participation:

Participation is free; however, you are required to pre-register using the link here.

For sponsorship, please contact: Mr. Chike Onwuegbuchi via: 08123355522 or Peter Oluka: 08184346261 or email: africaTechAllianceForum@gmail.com.

The post PAFON: Digital Encode, Cybervergent, Payble Sign Up for Payments Forum Nigeria 1.0 appeared first on Tech | Business | Economy.

At NITMA 2023, Dr. Muhammad Sirajo Aliyu FNCS, the President of the Nigeria Computer Society, giving the welcome address, expressed gratitude, emphasizing the key role of the organization as the umbrella body for information technology practitioners, interest groups, and stakeholders in Nigeria.

“Nigerian Computer Society has been the voice of Information Technology Professionals for the past four decades now, presently, with about 15,000 members spread across all sectors of the economy,” Dr. Muhammad Sirajo Aliyu said.

Underlining the importance of recognizing exceptional contributions to the industry, the President highlighted the significance of the NCS NITMA Awards in honouring individuals, professionals, and corporate organizations that have left a lasting impact on information technology. The awards encompassed categories such as Digital Governor of the Year, IT Personality of the Year, IT Company of the Year, Technology Innovation Award, Youth Innovator of the Year, and IT Gold Merit Award.

“The advocacy efforts of Nigerian Computer Society, geared towards achieving sustainable development in Nigeria, will not be complete without recognizing excellent and exceptional individuals, professionals, and corporate organizations who have made significant impact in the industry.”

The Chairman of the occasion, Bosun Tijani, represented by Ibrahim Tize, commended the NCS for its continuous growth and urged attendees to enjoy the festivities responsibly.

The well-executed event showcased the strides and achievements of Nigeria’s Information Technology community, giving prominence to its essence in the nation’s development journey.

At NITMA, the Digital Governor of the Year Award was bestowed upon His Excellency, Senator Uba Sani, the Executive Governor of Kaduna State, acknowledging his outstanding contributions to the digital sector of the state.

His Excellency, Senator Uba Sani, Executive Governor of Kaduna State, was recognized for his commendable efforts in advancing digital initiatives, earning him the esteemed Digital Governor of the Year Award.

Tunji Gafaar, MD/CEO of Digital Communications Konsult (DCK), received the IT Personality of the Year Award, a recognition of his noteworthy achievements and leadership in the information technology sector. Tunji Gafaar was celebrated for his exemplary contributions to the IT landscape.

Inlaks, a prominent player in the IT industry, received the IT Company of the Year Award, recognizing its outstanding performance and significant contributions to the national development plan.

First Bank secured the Technology Innovation Award in the banking sector, commending its forward-thinking approach and transformative contributions to the industry, setting a benchmark for technological innovation.

Simeon Oyebola, a Software Engineer, emerged as the Youth Innovator of the Year, distinguished for his innovative expertise and impactful contributions to the IT field.

The IT Gold Merit Award was conferred upon Senator Bala Mohammed, the Executive Governor of Bauchi State, acknowledging his solid commitment to IT education and human capital development.

The NCS expressed gratitude to partners, sponsors, and attendees for their continued support, promising to keep advancing the Information Technology profession in Nigeria.

Looking ahead, preparations for the 2024 International Conference were announced, with a focus on Smart technology, and an analytical solution for a smarter and more digitally inclusive nation.

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