Author: ITPulse

Nigerians love cash. Despite the best efforts of the Central Bank of Nigeria (CBN), the bulk of transactions in Nigeria are still cash-driven. It is not surprising. Cash embodies power, it breeds a sense of security and many swear it has aphrodisiac properties. It is all too convenient to talk of electronic payment but when push comes to shove – cash is king. Ask any businessman. Of course, the slow adoption of electronic payment has been blamed on a lot of things. Experts talk of poor awareness of digital and e-payment solutions, lack of trust, widespread illiteracy, and the largely…

In a bid to strengthen data management in Africa, the Institute of Information Management (IIM) has inked a partnership deal with the Data Management University, USA. The partnership, according to Dr. Oyedokun Ayodeji Oyewole, President/Chairman of the governing council of IIM-Africa, is geared towards effective data governance in Africa, as data governance strategy becomes more essential for the survival and sustenance of government and businesses owing to the increasing importance of data, imposition of various data regulations coupled with sudden COVID-19 Pandemic. “As part of the Institute of Information Management (IIM) Africa’s commitments towards ensuring global best practices, lessons learned,…

The Group Managing Director of Zedcrest, Adedayo Amzat has advised corporate organizations to rethink their business model and adopt technologies that would keep the green-light on,  should another pandemic of COVID-19 scale ever happen again. Amzat stated this position in an Instagram Live Chat with the Editor of TechEconomy.ng, Peter Oluka  on the theme; “Implications of COVID-19 on Nigerian Economy: Way Forward for Businesses.” “The battle against COVID-19 is one that leaders today must win if we are to find an economically and socially viable path to the next normal,” he said. He believes that this is the worst-case scenario that businesses…

Okra, a Nigerian fintech platform has secured a $1million pre-seed fundraise from TLcom Capital to strengthen its push to build the infrastructure for Africa’s next wave of fintech innovation. The new investment will help Okra to scale their team and operations as they cater to their growing client base. Launched in January 2020, Okra’s “super-connector” creates a secure portal and process to exchange real-time financial information between customers, applications and banks. Currently, developers and organisations in Africa do not have access to real-time banking data, creating large hurdles during the onboarding and verification of customers. Okra is the first in…

The International Telecommunication Union (ITU) has postponed the ITU Digital World 2020, the global tech event for government, industry and SMEs, which was scheduled to take place in partnership with the Ministry of Information and Communications, Viet Nam The global telecom body has postponed the event to September 2021 in the same venue in Ha Noi, Viet Nam, saying it is the best and safest course of action to ensure the well-being and safety of all event participants and guarantee a successful event. “We must set ambitious, measurable goals for ensuring an equitable transition to the digital age. The SDGs offer…

Nigeria’s premier financial institution, Firstbank today announced the death of one of its staff, Abdullahi Lawal, who until his death worked at our Kano Main Branch. Though, it was not categorically stated, the bank in a statement signed by Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, said as a responsible corporate organization, it has been at the forefront of the concerted efforts against the Coronavirus pandemic alongside others. While asking all staff and customers who may have been in contact with the late colleague to follow the NCDC guidelines and self-isolate, FirstBank said it has immediately shut down access…

By Martin Ekpeke The Nigerian Communications Commission (NCC) may succumb to the demands of telecom operators in Nigeria, requesting for additional spectrum to ease the congestion caused as a result of remote working by many Nigerian companies and lockdown in states with high incidents of COVID-19. Two major telecom advocacy groups in Nigeria; the Association of Licensed Telecommunications Operators of Nigeria (ALTON) and the Association of Telecommunication Companies of Nigeria (ATCON) had requested from the telecom regulator some palliatives, which they believe will ensure the smooth delivery of communication services in the country. Some of the palliatives include allocation of…

As the global community marks the Girls in ICT Day today, the National Information Technology Development Agency (NITDA), has said there is the need to promote technology career opportunities for girls and women in ICT, the world’s fastest-growing sector. Joining the global community to mark the annual event, NITDA said there is a need to draw attention to the critical need for more girls and women to participate actively in the ICT sector of our economy. In a statement signed by Mrs. Hadiza Umar, NITDA’s Head, Corporate Affairs and External Relations, the federal government agency, which coordinates general IT development…

Amid shuttering of social activities especially commercial services, through various lockdown measures to contain the coronavirus pandemic, FirstBank has proven that as long as its customers require services, the Bank will be waiting right in front of them. As key enablers of the economy, banks are providers of essential services to customers and communities. Sequel to the pandemic outbreak, the Minister of Finance, Budget and Planning and the Governor of the Central Bank of Nigeria obtained Presidential approval to permit critical financial services to function during this period. CBN further urged the general public to limit their use of cash and…

Market shares of traditional banks have continued to fall even further behind largely due to the global coronavirus pandemic as the use of financial apps is up by 72 percent since mid-March. According to Nigel Green, the Founder and Chief Executive of deVere Group, one of the world’s largest independent financial advisory organisations, the pandemic has accelerated those trends that were already shaping business such as greater inclusion of tech into our everyday lives. “Coronavirus has ushered in a new world, with digitalisation and new technologies fuelling the changes. This can be seen by demand soaring for video-calling platforms such…