UK – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Fri, 05 Jun 2026 09:02:39 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png UK – Tech | Business | Economy https://techeconomy.ng 32 32 Amazon Unveils AI-Powered Warehouse Robots, Expands Fast Delivery, Creates 25,000 Jobs Across Europe https://techeconomy.ng/amazon-warehouse-robots-europe-fast-delivery-jobs-expansion/ https://techeconomy.ng/amazon-warehouse-robots-europe-fast-delivery-jobs-expansion/#respond Fri, 05 Jun 2026 09:02:39 +0000 https://techeconomy.ng/?p=182914 Amazon has expanded its European operations, combining new warehouse robots, faster delivery services and fresh investment in employee training.

The company revealed the plans at its Delivering the Future event in Dartford, England, where it also introduced an upgraded version of Proteus, its autonomous warehouse robot.

The new Proteus can move across warehouse floors rather than being limited to loading and dock areas. Amazon said employees can now give the robot instructions using everyday language instead of technical commands.

“You tell it what needs to be done. It figures out the priority, the route, the timing,” said Scott Dresser, vice president of Amazon Robotics.

Like the current version, Proteus is designed to handle physically demanding work, including moving heavy carts over long distances. Amazon explained that the upgraded robot is being tested in its laboratories and is expected to begin operating in Europe during the first half of 2027.

Alongside Proteus, Amazon also highlighted other robotics technologies that it plans to expand across its European network. These include Vulcan, the company’s first robot with a sense of touch, and STARK, a robotic tote-handling system that works alongside employees by picking full totes from conveyors and placing them onto carts.

STARK was first tested in Barcelona and Amazon plans to deploy it at 15 sites across Europe by 2027.

The warehouse robots rollout is part of an investment programme worth more than €10 billion, Amazon said the funding will be used to expand and modernise fulfilment centres across Europe while supporting long-term growth in the region.

The company expects the expansion to create 25,000 additional jobs across its European fulfilment network over the coming years.

Amazon also announced a fresh commitment to workforce development, pledging $1 billion to its Career Choice programme by 2030. The initiative funds education and training for employees seeking careers in areas such as cyber security, software development, logistics, renewable energy and mechatronics.

More than 300,000 employees have participated in the programme globally, including 30,000 in the United Kingdom.

On the delivery side, Amazon said it will open more than 25 Sub Same-Day Delivery sites across Europe this year. The facilities bring storage, fulfilment and final delivery operations together in one location, allowing customers to place orders later in the day and still receive them within hours.

The company said the network will expand to locations including Coventry in the UK and Nürnberg in Germany.

Amazon Now, the retailer’s ultra-fast delivery service for groceries and household essentials, is also set for further growth. The service, which promises delivery in 30 minutes or less, is already available in parts of London and will expand to Manchester and Birmingham later this year.

In another update for European customers, Amazon said its Add to Delivery feature will launch in the UK, Germany, Spain, Italy and France later this year. The service allows Prime members to add items to an existing order without completing a separate checkout process or paying extra delivery charges.

The company is also strengthening its grocery offering. Customers in parts of central and east London can now combine fresh food items, including fruit, vegetables, meat and dairy products, with other Amazon purchases for same-day delivery.

Amazon said the investment drive follows a record year in Europe. The company invested more than €60 billion across the region in 2025, its largest annual investment in Europe to date.

The retailer also provided an update on its sustainability efforts, revealing that more than 50,000 electric delivery vans are now operating across the United States, Europe and India. That figure represents half of Amazon’s target to deploy 100,000 electric vans globally by 2030.

In Europe, Amazon and its delivery partners have now completed more than 100 million deliveries using electric cargo bikes, electric mopeds and on-foot delivery methods. These deliveries have helped avoid more than 17,000 metric tonnes of carbon emissions.

]]>
https://techeconomy.ng/amazon-warehouse-robots-europe-fast-delivery-jobs-expansion/feed/ 0
UK Opens Telegram Investigation Over Child Abuse Content https://techeconomy.ng/uk-probes-telegram-online-safety-child-abuse-content/ https://techeconomy.ng/uk-probes-telegram-online-safety-child-abuse-content/#respond Tue, 21 Apr 2026 13:40:12 +0000 https://techeconomy.ng/?p=180225 Ofcom has opened an investigation into Telegram over issues of child sexual abuse material shared on the app.

The regulator said it had reviewed evidence and decided to examine whether Telegram has failed, or is failing, to meet its legal duties on illegal content under the Online Safety Act 2023.

The case adds to complaints on online platforms operating in the United Kingdom, where authorities want stronger protection for children from harm online.

Ofcom said the law requires platforms to reduce risks linked to illegal material and act where such content appears. It added that companies must be able to show they are meeting those duties.

Telegram rejected the allegations.

The company said it “categorically” denied Ofcom’s accusations. It added that since 2018 it had “virtually eliminated” the public spread of child sexual abuse material through detection algorithms.

Telegram also said, “We are surprised by this investigation and concerned that it may be part of a broader attack on online platforms that defend freedom of speech and the right to privacy.”

The regulator also opened separate investigations into Teen Chat and Chat Avenue. It said it was unconvinced that both platforms were doing enough to protect children from grooming risks.

Suzanne Cater, Ofcom’s director of Enforcement, said, “These firms must do more to protect children, or face serious consequences under the Online Safety Act.”

The inquiry comes as Keir Starmer’s government pushes for tighter online safeguards, especially for younger users.

Telegram has faced similar cases elsewhere. In February, Australia’s online safety regulator fined the company after delays in answering questions about measures against child abuse and violent extremist material.

The UK law is considered one of the strictest internet safety frameworks in the world. It places direct responsibility on platforms to tackle illegal and harmful content or risk enforcement action.

]]>
https://techeconomy.ng/uk-probes-telegram-online-safety-child-abuse-content/feed/ 0
The Builder Behind EstateGO: How Issa Ajao is Redefining Property Technology in Africa https://techeconomy.ng/the-builder-behind-estatego-how-issa-ajao-is-redefining-property-technology-in-africa/ https://techeconomy.ng/the-builder-behind-estatego-how-issa-ajao-is-redefining-property-technology-in-africa/#respond Wed, 10 Dec 2025 21:53:35 +0000 https://techeconomy.ng/?p=177809 Issa Ajao does not describe himself as someone who set out to build a technology company. He describes himself as someone who kept seeing problems that existing software was not solving, and eventually ran out of patience waiting for someone else to solve them.

That instinct is what produced EstateGO, the property management platform that has become one of the most visible products in CloudCrave Solutions’ growing enterprise SaaS portfolio, and one of the clearest examples of what happens when a technology builder with deep operational experience turns their attention to an underserved market.

The Problem that Started it All

Property management in Nigeria is operationally fragmented in ways that create real financial costs for everyone involved. Landlords track rent payments across spreadsheets or not at all. Maintenance requests arrive through WhatsApp and disappear in threads.

Lease renewals are managed through memory and physical files. Property managers juggle entire portfolios with no centralised visibility into occupancy, outstanding payments, or pending issues.

The technology to solve this exists. The platforms built to solve it in Western markets do not work here, because the payment infrastructure is different, the lease structures are different, the landlord-tenant relationship dynamics are different, and the operational context is entirely different from the environments those platforms were designed for.

“We did not build EstateGO for a client. We built it because we looked at how property management actually works across Nigeria and realised that no existing platform was designed for this reality. That gap was too significant to ignore.”

EstateGO is a full-stack property management platform available on both the App Store and Google Play.

It covers tenant onboarding and lifecycle management, rent collection and automated payment tracking through Paystack integration, maintenance request management, real-time financial reporting across entire portfolios, and automated reminders for rent due dates and lease renewals.

The mobile-first architecture was a deliberate product decision, built around how property management in Nigeria actually happens, not how it happens in a Western office environment.

The Founder Behind the product

Ajao’s path to building EstateGO runs through nearly two decades of enterprise technology experience, beginning in the mid-2000s at one of Lagos’s most influential technology strategy firms, where he developed the technical foundations and strategic instincts that would later define his approach to product building.

It was during those early years, working across financial institutions, enterprise clients, and digital infrastructure projects,  that Ajao first encountered the pattern that now drives everything CloudCrave builds: African enterprises consistently forced to adapt foreign tools to operational contexts those tools were never designed for.

“The frustration I felt watching organisations work around the limitations of platforms that were never built with them in mind, that frustration never went away. It just became the thesis for everything we built at CloudCrave.”

From those early years emerged Staunch Technologies, the company through which Ajao first began building proprietary software products, including EduCrave, a school management system that remains in active use today.

CloudCrave Solutions was founded as the natural evolution of that journey: a dedicated SaaS company built around a single conviction, that African enterprises deserve software built specifically for them, at enterprise grade, with no compromises.

Beyond EstateGO: A portfolio Built on One Philosophy

EstateGO is one of eight proprietary SaaS platforms CloudCrave now operates. The portfolio spans property management, enterprise operations, education technology, training management, AI-powered financial tools, e-commerce infrastructure, and conversational AI, serving clients in Nigeria, the United Kingdom, and the United States.

The common thread across all eight is not the industry vertical. It is the philosophy behind how they are built and owned.

“We do not build software for clients and hand it over. We build platforms, we own them, we deploy them, and we continue to develop them. Every client we add makes the platform better. That compounding is the entire point, and it is what separates a product company from a software agency.”

That philosophy is most visibly demonstrated in EnterpriseHub, CloudCrave’s enterprise operations platform, currently deployed with a US-based enterprise client managing over 400 staff across multiple American sites.

The platform replaced a legacy internal system that the client’s own IT team had built and maintained, a fact Ajao cites as the clearest evidence that product quality, not brand recognition, is what enterprise clients ultimately make decisions on.

In the UK, TrainPro is live with enterprise clients and going into full production in early 2026. CraveBiZ AI, live at cbiz.cloudcraves.com, is bringing AI-powered financial management to African SMEs.

ChatBot Studio, launched in May 2025, enables businesses to deploy intelligent AI assistants without writing a single line of code.

Investment in the Ecosystem

Beyond his product portfolio, Ajao has invested in the broader technology community through Switch2Tech, a digital skills initiative that has connected over 700 professionals with the knowledge, networks, and practical experience needed to participate meaningfully in Nigeria’s technology economy.

“I have benefited enormously from being part of a technology ecosystem that gave me room to grow. Switch2Tech is about contributing to that ecosystem, making sure the next generation of technology professionals has a community to learn from, not just a curriculum.”

Switch2Tech operates as a community initiative independent of CloudCrave’s commercial operations, a deliberate separation that reflects Ajao’s belief that ecosystem building and product building, while complementary, serve different purposes and should be approached differently.

What Comes Next

Ajao is characteristically measured when asked about what comes next for CloudCrave. There is a roadmap, AI capabilities being embedded across the entire product portfolio, new enterprise client deployments in progress, and an expansion of the company’s UK and US presence. But he is more interested in talking about the thesis than the timeline.

“The African enterprise software market is structurally underserved. Not because of alack of demand, the demand is enormous. But because the global vendors who dominate enterprise software have never prioritised building for African operational contexts. That is the opportunity. And we are not the only ones seeing it, which is exactly how it should be. A market this large needs more than one serious player.”

For now, Ajao remains focused on the work, building the platforms, winning the clients, and demonstrating, one deployment at a time, that enterprise-grade software built in Africa can compete and win anywhere in the world.

“EstateGO is live on the App Store and Google Play. That is not a prototype. That is not a pilot. That is a product. And there are seven more where that came from.”

]]>
https://techeconomy.ng/the-builder-behind-estatego-how-issa-ajao-is-redefining-property-technology-in-africa/feed/ 0
UK Commits £19m to Climate-Resilient Health and Education Facilities in Kano and Jigawa https://techeconomy.ng/uk-commits-19m-to-climate-resilient-health-and-education-facilities-in-kano-and-jigawa/ https://techeconomy.ng/uk-commits-19m-to-climate-resilient-health-and-education-facilities-in-kano-and-jigawa/#respond Tue, 09 Sep 2025 10:39:05 +0000 https://techeconomy.ng/?p=166744 The UK Government has committed £19 million to strengthen climate-resilient health and education services in Nigeria.

The funding was announced during the joint inauguration of 84 climate-resilient schools and healthcare facilities in Kano and Jigawa States, under the Climate Resilient Infrastructure for Basic Services (CRIBS) initiative.

CRIBS, developed through a multi-partner collaboration including the UK Government, Federal Ministry of Health, Kano and Jigawa State Governments, UNICEF, World Bank, WHO, Crown Agents UK Lafiya Programme, Sextant Foundation, Fab Inc, and JigSaw, introduces an innovative approach to shield essential services from the impacts of climate change.

Nigeria ranks second globally in terms of climate risks to children, with millions affected annually by floods, droughts, and extreme heat. To address these threats, CRIBS has focused on renovating 39 primary healthcare centres and 45 schools, integrating climate adaptation measures to protect communities.

The inauguration ceremonies, which included site visits and ribbon-cutting events, highlighted how low-cost, scalable, and community-led solutions can reduce climate vulnerability while safeguarding education and healthcare access for children and families.

Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said:

“The UK Government is proud to support Nigeria through this £19m commitment to CRIBS. By working with the Federal Government, state partners, and global organisations, we are demonstrating how climate-resilient infrastructure can improve access to basic services for vulnerable populations. We hope this model will be replicated across Nigeria.”

Wafaa Saeed, UNICEF Representative in Nigeria, added:

“This initiative shows the power of strong partnerships. By investing in climate-smart infrastructure, we are not just protecting services, we are empowering communities to safeguard their children’s future. CRIBS is a model for resilience where it matters most, at the frontline of service delivery.”

This intervention aligns with both national and state priorities in climate action, health, and education, reflecting the UK’s long-term commitment to supporting Nigeria in building resilience, saving lives, and protecting learning opportunities.

]]>
https://techeconomy.ng/uk-commits-19m-to-climate-resilient-health-and-education-facilities-in-kano-and-jigawa/feed/ 0
Africa Exports £3.2 Billion Worth of Goods to UK in 2024 as New Trade Reforms Unlock Greater Access https://techeconomy.ng/africa-exports-3-2-billion-worth-of-goods-to-uk-in-2024/ https://techeconomy.ng/africa-exports-3-2-billion-worth-of-goods-to-uk-in-2024/#comments Sat, 12 Jul 2025 11:43:45 +0000 https://techeconomy.ng/?p=162913 Last year alone, African countries exported goods worth over £3.2 billion to the UK under existing trade preferences.

Now, with the launch of the enhanced Trade for Development initiative, even more African entrepreneurs and exporters are poised to benefit.

A Simpler Path to Prosperity: New UK Trade Measures Empower African Exporters

The new package, part of the UK’s Developing Countries Trading Scheme (DCTS), was formally announced on July 10 and is designed to simplify market access for African economies, especially Nigeria, and create seamless trading opportunities across the continent.

Among the key updates:

  • Simplified rules of origin now allow DCTS countries to source inputs from other African nations while retaining duty-free access to the UK.
  • Tariff-free market entry will continue for eligible products, even for countries moving up the industrial value chain.
  • The reforms are expected to support intra-African trade, boosting the effectiveness of the $3.4 trillion African Continental Free Trade Area (AfCFTA).

UK Ministers Signal a Shift from Aid to Trade

Speaking on the importance of this new trade dynamic, Jenny Chapman, UK Minister for Development, stated:

“The world is changing. Countries in the Global South want a different kind of relationship with the UK, as trading partners and investors, not merely recipients of aid. These new rules make it easier for African countries to trade with us, supporting their economies while delivering quality and value to UK consumers.”

Echoing the sentiment, Douglas Alexander, UK Minister for Trade Policy, highlighted the long-term impact of inclusive trade:

“No country has ever lifted itself out of poverty without regional trade. Over recent decades, trade has lifted millions out of poverty globally. We’re committed to helping Africa do the same.”

Beyond Goods: Services, Standards, and Support

In addition to goods, the UK is extending its support to services trade, helping African nations export digital, financial, and legal services more easily by incorporating flexible provisions in future trade agreements.

Other measures include:

  • Targeted technical support to help African exporters meet UK standards and navigate customs regulations.
  • Enhanced cooperation with major importers and trade associations to ensure smooth integration into global supply chains.

These updates are part of the UK’s wider Trade for Development initiative, which aligns with the country’s Global Trade Strategy, focusing on sustainable growth through international collaboration and modern market access.

Quick Facts

  • DCTS covers 65 countries, offering reduced or zero tariffs on thousands of goods.
  • Launched in 2023, the scheme followed the UK’s exit from the EU to redefine its trade relationship with developing economies.
  • The UK remains committed to growing digital and professional services trade with developing nations.
  • These reforms were developed through consultations with UK businesses, African exporters, and global trade partners.

The Bigger Picture: A New Trade Relationship for Africa and the UK

As Africa positions itself as a hub for industrial innovation, green growth, and digital services, these trade reforms reflect a shift in how global partnerships are being reimagined.

The emphasis is now on inclusive trade, capacity building, and long-term economic transformation, not handouts.

For countries like Nigeria, this presents a real opportunity to scale up non-oil exports, create jobs, and attract investment across sectors from agriculture to technology.

As the UK turns outward in its post-Brexit trade policy, Africa is being positioned not just as a market, but as a partner in prosperity.

]]>
https://techeconomy.ng/africa-exports-3-2-billion-worth-of-goods-to-uk-in-2024/feed/ 1
Search AfriCon 2025: SEO Experts Gather In Lagos https://techeconomy.ng/search-africon-2025-seo-experts-gather-in-lagos/ https://techeconomy.ng/search-africon-2025-seo-experts-gather-in-lagos/#respond Tue, 29 Apr 2025 23:08:57 +0000 https://techeconomy.ng/?p=157751 Experts in the African digital marketing ecosystem are set to converge on Lagos, Nigeria for the second edition of Seach AfriCon, scheduled to start on May 2, 2025.

The continent’s foremost SEO and digital marketing event will hold at Mike Adenuga Centre, Alliance Francaise, Osborne Road, Ikoyi, Lagos State from 10:00am to 5:30pm and will feature a panel discussion on ‘How African Culture Influences Digital Marketing and Consumer Engagement’ by Ife Durosinmi-etti, founder, Herconomy; Shina Charless Memud, founder, Yournotify and Crystal Nyarko, founder, Clear Narative Media.

Topics that will be treated at the conference include:  ‘Transforming Business Visibility Through Local Search Expertise’ by Amaka Chukwuma(SEO and Content Strategist), ‘Common SEO Mistakes and Quick Wins for African eCommerce Brands’ by Safia Marmon (Project Leat at Sunbowl), ‘Smarter Search Strategies: Diversifying Ad Platforms in the Age of AI’ by Serge Nguele (Founder Your PPC doctor), ‘Scaling Your Business Responsibly with AI, Even on a Tight Budget’ by Emina Demir (Head Of Digital Marketing-Vixen Digital), ‘Building Keyword Strategy’ by Juliana Turnbul (Semrush), and ‘Content & Product Auditing with Google Tools and Crawl Data’ by  Marco Giordano (Web & Data Analyst).

Others are; ‘Using Case Studies To Uncover Pain Points and Buyers’ Behavior’ by Stella Inabo (Content Marketer, Float), ‘How Search Happens: Before and After you Hit Enter’ by Dave Cousin (Founder Dave the SEO &co), ‘Insights From African Startups That Are Killing It With SEO and Content Marketing’ by Shehu AbdulGaniy (Founder, Your Content Mart), ‘Crystal Clear Socials: A Framework For Standing Out on Social Media’ by Crystal Nyarko (Founder, Clear Narrative Media), ‘Emotional Connections: Using Brand Archetypes to Enhance Engagement’ by Rejoice Ojiaku (Co-founder, B-Digital, UK), ‘Data-Driven Digital Marketing: The Importance of Data in Decision-Making’ by Ifeoma Nicole Oraekie (Product Marketer) and ‘The 5 Channels You Need to Become a Thought Leader’ by Chima Mmeje (Founder FCDC).

According to the convener, Ebere Cecilia Jonathan, this year’s event will offer a more immersive experience for participants as they network under a convivial ambience of music and poetry with the leading lights in digital marketing, sharing experiences, challenges and solutions.

She says, “Digital marketers, SEO professionals, Tech marketers, business owners, brands and entities interested in improving their online presence and visibility will be gathering to learn how to improve their skills, rethink internet marketing strategies, and connect with like-minded individuals.

Seach AfriCon
Seach AfriCon

“Join us for Africa’s must-attend SEO and digital marketing event to learn strategies and gain inspirations to improve your business and personal digital presence. It is an opportunity to meet the faces you’ve always interacted with online, so join industry experts, business owners and make new connections.

“We’re taking the conversation to the streets of Lagos the next day with Search AfriCon outing.  Don’t miss this exclusive opportunity to unwind and create valuable relationships.”

The Search AfriCon 2025 event is supported by Google, The Gray Dot Company, USA, Women-in-Tech SEO, UK, Semrush, Bax Analytics, Turn Global, Spain, and Nisa Digital, Dubai.

]]>
https://techeconomy.ng/search-africon-2025-seo-experts-gather-in-lagos/feed/ 0
UK Govt Backs Moves to Address Cybersecurity Challenges in Nigeria https://techeconomy.ng/uk-govt-backs-moves-to-address-cybersecurity-challenges-in-nigeria/ https://techeconomy.ng/uk-govt-backs-moves-to-address-cybersecurity-challenges-in-nigeria/#respond Wed, 20 Nov 2024 13:01:43 +0000 https://techeconomy.ng/?p=147951 Key stakeholders from the government and private sector recently gathered in Abuja and Lagos at the Nigeria Cybersecurity Stakeholder Roundtable organised with support from the UK’s Department for Business and Trade (DBT) to discuss practical steps to address the country’s cybersecurity challenges.

This roundtable had in attendance, top cybersecurity and tech experts from diverse sectors to engage in critical deliberations on current and emerging digital security issues. It emphasised the critical role of collaboration in addressing Nigeria’s cybersecurity challenges.

The roundtable emphasised the critical role of collaboration and information sharing in addressing Nigeria’s cybersecurity challenges including to:

  • Foster a synergized approach to addressing Nigeria’s cybersecurity challenges, leveraging the collective expertise of participants.
  • Establish a platform for continuous collaboration and knowledge exchange among stakeholders from various sectors to enhance cybersecurity practices.
  • Identify and assess cross-cutting needs and challenges across regulatory, supply, and demand sides, to inform future cybersecurity strategies and policies.
  • Create a platform that enables demand and supply side actors to have visibility and access to state-of-the-art cybersecurity solutions that benefit all.

Key takeaways from the roundtable include the importance of public-private partnerships in combating cyber threats, the need for continuous education and training for cybersecurity professionals, the development of effective strategies to combat cybercrime and the promotion of cybersecurity awareness among individuals and organisations.

UK and Cybersecurity stakeholders
R-L: UK’s FCDO West Africa Cyber Lead, James Carroll; Country Director for the UK’s Department for Business and Trade (UKDBT) in Nigeria, Mark Smithson; National Commissioner/CEO, National Data Protection Commission (NDPC) Dr. Vincent Olatunji; Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi; Deputy Country Director & Trade Adviser Defence and Security UKDBT, Morayo Adekunle; Chair of the African Union Cyber Security Expert Group (AUCSEG), Abdul-Hakeem Ajijola; Security Architect and Technical Lead, World Bank/FGN Digital Identification for Development (ID4D) Project; Chinenye Chizea and Country Manager Tech4Dev, Micheal John , at the the Cybersecurity Roundtable hosted at the Nigeria Exchange Group, with the theme Strengthening Nigeria’s Cybersecurity Landscape in Abuja… recently.

Commenting, Mark Smithson, country director for the UK’s Department for Business and Trade (DBT) in Nigeria, said:

“As a recognised global leader in cyber security innovation across a range of applications, the UK is uniquely placed to partner with Nigeria to raise awareness and tackle emerging threats and cybersecurity challenges affecting our two countries.”

Speaking at the event, Kashifu Inuwa Abdullahi, the director general the National Information Technology Development Agency (NITDA), stated: 

“Cybersecurity is a shared responsibility that requires coordinated action at every level. Together, we must take proactive steps to safeguard our digital sovereignty, protect our critical information assets, and build a resilient, secure future for all”

Haruna Jalo-Waziri, the chief executive officer, Central Securities Clearing System (CSCS) Plc, emphasised:

“As we all know, cyber threats are becoming more sophisticated, diverse, and pervasive. Here in Nigeria, businesses face an alarming volume of attacks, with financial services being particularly vulnerable. Addressing these emerging threats demands a security culture rooted in continuous education and awareness. Cybersecurity is not a challenge any organization can tackle in isolation; it requires coordinated efforts, cross-industry partnerships, and a collective commitment to protecting our digital future.”

He also commended the event organisers, saying,

“I extend my gratitude to the UK Department for Business and Trade, the Office of the National Security Adviser, NITDA, NGX, the National Data Protection Commission, and Tech4Dev for organizing this roundtable outside of Cybersecurity Awareness Month. This setting offers a unique and invaluable opportunity to deepen our discussions on pivotal areas in cybersecurity.”

Also speaking on the need for robust cybersecurity frameworks in Lagos, Jude Chiemeka, the chief executive officer of Nigerian Exchange Limited, stressed that such measures are essential to unlock growth potential and restore investor confidence in Nigeria’s digital future.

He said:

“Cybersecurity threats present a serious economic risk that could undermine Nigeria’s vision as Africa’s digital powerhouse,” he said, highlighting the concerning impact on Nigerian banks, which lost ₦14.65 billion ($33 million) to electronic fraud in 2021 – a 187% increase from the previous year.”

]]>
https://techeconomy.ng/uk-govt-backs-moves-to-address-cybersecurity-challenges-in-nigeria/feed/ 0
Meet Dr. Olasupo Olusi, newly Appointed MD/CEO Bank of Industry https://techeconomy.ng/meet-dr-olasupo-olusi-newly-appointed-md-ceo-bank-of-industry/ https://techeconomy.ng/meet-dr-olasupo-olusi-newly-appointed-md-ceo-bank-of-industry/#respond Tue, 03 Sep 2024 11:57:41 +0000 https://techeconomy.ng/?p=142088

On monday, 2nd September 2024, President Bola Tinubu approved the appointment of Dr. Olasupo Olusi to serve as the Managing Director and Chief Executive Officer of the Bank of Industry for a term of four years.

Olusi’s appointment follows the voluntary resignation of the immediate past MD/CEO of BoI, Olukayode Pitan.

But who is Dr. Olasupo Olusi? Olasupo is the son of Professor S. O. Olusi, a former dean of the College of Health Sciences at Obafemi Awolowo University, Ile Ife, Osun State. His mother, Professor Janet Omolara Olusi, is also an academician and retired from OAU as a professor of economics.

Academic Trajectory
Dr. Olusi holds a B.Sc. in Economics from Hull University, UK; an M.Sc. in International Money, Finance, and Investment from the University of Durham, UK; and a Ph.D. in Economics, also from the University of Durham. He is a proud member of the Royal Economic Society (United Kingdom) and the American Finance Association (USA).

Career Exploits
His illustrious journey commenced at the World Bank, where he significantly contributed to capital markets reform and conducted groundbreaking research on finance and private sector development in the Middle East and North Africa.

Over the years, Dr. Olusi has assumed pivotal roles, including serving as a World Bank Country Economist for several countries, an Economic Adviser at the Federal Ministry of Finance in Nigeria, and a Senior Private Sector Specialist at the International Finance Corporation (IFC).

In the sphere of fiscal policies and debt management, Dr. Olusi brings his expertise to bear in ensuring financial stability and transparency, a testament to his commitment to responsible economic practices.

With a proven track record in project management, financing, and implementation, he has successfully led diverse projects, showcasing proficiency in both lending and non-lending spheres.

His strategic vision includes creating an enabling environment for businesses through thoughtful policy reforms. Dr. Olusi’s adept knowledge and management skills contribute to impactful initiatives, including newsletters and inspirational lecture series.

Furthermore, Dr. Olasupo Olusi’s comprehensive approach encompasses nurturing entrepreneurship and fostering overall business development.

His multifaceted expertise positions him as a valuable leader in shaping economic landscapes and driving transformative change.

Noteworthy accomplishments include leading multi-million-dollar development projects, steering private sector diagnostics, and managing investment lending initiatives.

Dr. Olusi played a pivotal role in delivering the World Bank Group’s inaugural comprehensive assessment of Nigeria’s private sector in 2020.

In his current role as the Managing Director and CEO of the Bank of Industry, Dr. Olusi will be steering the organization towards transformative and competitive economic endeavors.

Leveraging his profound understanding of macroeconomic dynamics, his leadership is marked by a commitment to sustainable development, strategic planning, and localized implementation of corporate priorities.

Devoted to the growth of Micro, Small, and Medium Enterprises (MSMEs), Dr. Olusi  would  actively works towards economic diversification and drives impactful reforms in public sector entities, emphasizing improved governance and efficiency.

Actively engaged in collaboration with multiple stakeholders, co-leading knowledge management initiatives, and spearheading impactful projects, Dr. Olusi continues to make significant contributions to the success and resilience of Nigeria’s industrial landscape.

The five thematic areas of focus under his leadership at BOI are SMEs, Digital Transformation, Youth and Skills, Gender, and Climate. Additionally, there will be special focus and strategic initiatives that will be game changers for Nigeria’s private sector.

]]>
https://techeconomy.ng/meet-dr-olasupo-olusi-newly-appointed-md-ceo-bank-of-industry/feed/ 0
UK Regulator Tightens Rules on Cryptocurrency Sector to Protect Consumers https://techeconomy.ng/uk-regulator-tightens-rules-on-cryptocurrency-sector-to-protect-consumers/ https://techeconomy.ng/uk-regulator-tightens-rules-on-cryptocurrency-sector-to-protect-consumers/#comments Thu, 08 Jun 2023 15:40:59 +0000 https://techeconomy.ng/?p=103982 The UK’s financial regulator has implemented stricter rules regarding the promotion and sale of cryptocurrencies in an effort to safeguard consumers.

The Financial Conduct Authority (FCA) has introduced a series of measures to address the lack of oversight and potential risks associated with the cryptocurrency industry.

As per the new regulations, companies promoting cryptocurrency products or services in the UK will be required to provide a “clear warning” to customers about the possibility of financial losses in high-risk investments.

Marketing firms must also institute a cooling-off period for first-time crypto investors. Additionally, the FCA will ban referral bonuses designed to incentivize cryptocurrency investments.

Sheldon Mills, the head of consumers and competition at the FCA, emphasized that these rules aim to provide individuals with adequate time and appropriate risk warnings to make well-informed decisions.

The FCA’s announcement comes after the UK government took steps earlier this year to bring cryptocurrency promotions within the purview of the regulatory authority. UK lawmakers are also pushing for the regulation of crypto investments in a manner similar to the gambling industry.

In response to the FCA’s announcement, Su Carpenter, the director of operations at industry group CryptoUK, expressed concerns that the new rules may hinder new entrants and potentially concentrate market power among authorized firms.

Carpenter highlighted the risk of unregulated firms operating from outside the UK, which could create a competitive disadvantage for UK-based organizations and undermine consumer protection.

The FCA’s clampdown follows a trend of increased regulation in the United States. The Securities and Exchange Commission (SEC) recently filed a lawsuit against Coinbase, accusing the leading US digital currency trading platform of unlawfully facilitating the trading of crypto asset securities.

The SEC has also brought charges against Binance, a major cryptocurrency platform, and its founder for alleged securities law violations.

These developments come in the wake of the high-profile collapse of FTX, a prominent cryptocurrency exchange, which has raised concerns about the unregulated nature of the industry, often referred to as the “Wild West” by critics

]]>
https://techeconomy.ng/uk-regulator-tightens-rules-on-cryptocurrency-sector-to-protect-consumers/feed/ 1
Decision to Bar Families of Nigerian Students will Hurt UK’s Economy https://techeconomy.ng/monaghan-in-her-address-at-parliament-emphasized-the-significant-contributions-made-by-i/ https://techeconomy.ng/monaghan-in-her-address-at-parliament-emphasized-the-significant-contributions-made-by-i/#respond Thu, 25 May 2023 14:39:59 +0000 https://techeconomy.ng/?p=102871 Carol Monaghan, a member of the United Kingdom parliament, has expressed strong criticism of the UK’s new immigration policy, which prohibits international students (Nigerians) from bringing their families with them starting in 2024.

The decision, announced by the UK Home Office, also includes a restriction on foreign students switching from a student visa to a work visa until they have completed their studies. This policy has raised concerns among various stakeholders, including MPs and universities.

Monaghan, in her address at parliament, emphasized the significant contributions made by international students and their families to the UK economy.

She highlighted that in 2022 alone, these students added a substantial £40 billion to the country’s economy.

She stressed that international students bring valuable skills that are beneficial across various sectors, such as healthcare, STEM, and IT.

The MP questioned the potential negative consequences of this policy, particularly in exacerbating labor shortages in critical areas. She also called for an assessment of the economic impact on the university sector.

Monaghan further emphasized that many students who choose to study in the UK also seek to involve their families in their educational experience. Without the option to bring their families, it is anticipated that many students may opt to study elsewhere. Such a decline in international student numbers could further harm universities already facing financial difficulties.

The concerns expressed by Monaghan are echoed by UK universities. Universities UK International (UUK), an organization representing universities, has raised objections to the new immigration rules. They view the policy as a threat to the UK’s global success as a top destination for international talent.

Jamie Arrowsmith, the Director of UUK, emphasized the invaluable contribution of international students to UK universities and the country’s economy.

He highlighted the significant growth witnessed since 2019 and urged the government to consider its explicit commitments and ambitions outlined in the international education strategy.

The decision to ban families of Nigerian students, and its potential economic consequences, has sparked a larger conversation about the impact of immigration policies on the UK’s higher education sector and its reputation as a welcoming destination for international students.

]]>
https://techeconomy.ng/monaghan-in-her-address-at-parliament-emphasized-the-significant-contributions-made-by-i/feed/ 0