Author: ITPulse

The Nigerian government has reaffirmed its ambition to position the country as a world leader in technology innovation and entrepreneurship. This commitment was reiterated by the Director-General of the National Information Technology Development Agency (NITDA), Mal. Kashifu Inuwa during the closing ceremony of the iHATCH startup incubation program’s third cohort. The iHATCH program, a joint venture between NITDA and the Japan International Cooperation Agency (JICA), aims to foster a robust tech ecosystem in Nigeria. This collaboration aligns with NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0), which prioritizes strategic partnerships and nurturing an innovative entrepreneurial landscape. According to Inuwa, the…

AVEVA, a global leader in industrial software, has announced significant enhancements to its InTouch Unlimited HMI/SCADA platform. The update includes new features, flexible pricing, and expanded capabilities, designed to empower system integrators, OEMs, and end users to build and scale HMI/SCADA applications effortlessly. InTouch Unlimited now offers truly unlimited tags, clients, and scalability, removing barriers to application growth. Combined with access to advanced AI/ML analytics and AVEVA CONNECT, the platform streamlines development workflows and delivers exceptional value. Key features of the updated InTouch Unlimited include: Comprehensive licensing: Perpetual and subscription options with unlimited tags, clients, and scalability. Enhanced development tools:…

Babcock International Model United Nations (BIMUN) ignited the spirit of global leadership on August 7th, 2024, as it convened its 8th annual conference. Gathering over 10 African countries’ brightest minds, including students, professionals, and graduates, the event focused on the critical theme, “Agenda 2030: Rebuilding Trust and Reigniting Global Solidarity Towards Sustainability for All.” Held on the serene Babcock University campus, the conference provided a platform for in-depth discussions on pressing global challenges. Renowned governance expert, Dr. Joe Abah, set the tone with a powerful keynote address, emphasizing the pivotal role of trust in achieving the Sustainable Development Goals (SDGs).…

PalmPay, a leading African fintech platform, has emphasized the critical role of collaboration and innovation in driving financial inclusion to the last mile. Speaking at the recent Nigeria Fintech Forum, Chibuzor Melah, Head of Partnerships at PalmPay, highlighted the need for banks and fintechs to work together to expand financial access. Melah attributed PalmPay’s success to its data-driven approach and partnerships within the financial sector. “By leveraging data insights, we’ve been able to create tailored solutions for our customers, including those traditionally underserved by the financial system,” said Melah. “Collaboration is key to building trust and expanding financial inclusion to…

SeerBit, a leading Pan-African payment solutions provider, has announced a strategic partnership with Kuda, a digital bank committed to financial inclusion. This collaboration aims to enhance the reliability and convenience of online payments for businesses and consumers across Nigeria. Through this partnership, millions of Kuda customers can now effortlessly make payments on SeerBit’s checkout platform without the need to input their card details. This added layer of security ensures a safer online shopping experience. To make a payment, Kuda customers simply select the “Pay with SeerBit” option on participating websites and apps, choose Kuda as their bank, and complete the…

The African Development Bank (AfDB) has solidified its commitment to Africa’s infrastructure development by investing $20 million in the African Infrastructure Investment Fund 4 (AIIF4). This strategic move, approved by the Bank’s Board of Directors in June, aims to catalyze private sector participation and bridge the continent’s significant infrastructure gap. Africa’s infrastructure sector presents a compelling investment opportunity, driven by surging urbanization and growing consumer demand. Despite the sector’s potential, it faces a chronic shortage of capital, with an estimated annual financing gap of between $68 and $108 billion. AIIF4, targeting a $500 million fund size, has already secured over…

FBNQuest Trustees Limited has issued a strong denial of any business relationship with Maihomm Trustees/Maihomm Management. The company has become aware of recent publications suggesting a partnership between the two entities, which it categorically dismisses as false. In a statement released today, FBNQuest Trustees emphasized that it is a separate and independent entity from Maihomm Trustees/Maihomm Management. There has been no joint venture, collaboration, or business agreement of any kind between the two companies. The trust services provider reiterated its commitment to transparency and integrity, and urged the public to disregard any claims suggesting a connection between the two organizations.…

By Sophia Parker Investigate the importance of sanctions screening in monitoring various individuals, transactions, and entities against multiple lists to identify financial discrepancies. Money laundering is a stigma that is difficult to identify and overcome in today’s digital business environment. It is estimated that approximately 86,000 suspicious transactions were reported in 2017. These malicious transactions make the organizational activities vulnerable to financial crimes and terrorist financing. The financial discrepancies raise the business’s need to conduct extensive sanction list screening to identify the high-profile entities that are mentioned in the various criminal lists. Sanctions screening adheres to a systematic approach through…

Providus Bank Limited and Unity Bank Plc have announced that they have received approval from the Central Bank of Nigeria (CBN) to merge their operations. The combined entity is expected to become a leading financial institution in Nigeria, offering a comprehensive range of banking services to retail, corporate, and commercial customers. The merger brings together the strengths of both banks. Unity Bank, with its extensive branch network and strong presence in the agricultural sector, will complement Providus Bank’s innovative digital banking platform and focus on customer growth. “This merger is a strategic move that will enable us to create a…

MTN Nigeria Communications Plc has announced the successful renegotiation of its tower lease agreements with IHS and ATC Nigeria. The deal, which was part of the company’s strategy to recover its capital position, will see significant cost savings and improved operational efficiency. According to a statement released by the company and signed by Uto Ukpanah, Company Secretary, the renegotiated terms involve a shift from US dollar-indexed leases to primarily naira-based ones, with a cap on the naira CPI escalator component. Additionally, the agreements remove technology-based pricing and incorporate an energy cost component indexed to the cost of diesel power. The…