Category: e-Business

A social trading platform for cash and crypto, Bundle, said despite the regulatory pushbacks on crypto trading, it has continued to do well like others.

Its CEO Emmanuel Babalola, who spoke during a forum to mark the company’s second anniversary and launch of its first mobile app, said the solution has developed over the years as one of the easiest crypto trading platforms in Africa. Starting with only three assets at its initial launch, it has grown to over 80 assets and over 700,000 users across Nigeria and Ghana.

Babalola said despite the regulation, Bundle has catered to the needs of its user base through the integration of Cashlink, a P2P payments platform, which has served as a gateway for crypto to cash transfers. With over a million transactions within its first seven months, the success of Cashlink can be attributed to the escrow system which mitigates fraud from either side of the transaction.

“With the aim of helping users mitigate loss during a bear crypto market, they built simple tools to help users by releasing Bundle Leveraged Token (BLVTs) series that gives users the ability to hold leverage on a cryptocurrency that can either multiply the loss or profit on an asset.

“To promote the wider adoption of cryptocurrencies and further set the minds of people at ease, trading should be as easy and convenient as possible for all people. This means that crypto services should be offered on multiple platforms with all users in mind and not just some.

“As Bundle continues to grow, the need to evolve into its original mission becomes pertinent — a social finance app making crypto accessible to everyone. Bundle will be expanding across the continent this quarter which signifies the first step in the right direction, alongside implementations to pivot into a social finance product,” he said.

On multiple scam accounts, the CEO explained that the team is working with the risk and compliance team to remove these phishing accounts.

They are also set to release a 2FA security feature to further protect its users. Bundle users are implored to ensure that any dealings on Twitter and Instagram are with their official handles. They wouldn’t ask you to click on any link or share your OTP with them.

As regards the persistent downtime that the app has been having, Bundle released a letter from their CEO in a blogpost highlighting the cause of the issue, steps that have been taken and how the company hopes to rebuild the trust of the users of the app.

Bundle reiterated its promise of customer centricity by giving its users an optional way to trade with its newly released web app. The web app provides an alternative way for both existing and new users to explore their curiosities on the go. Visitors to the website will also be able to learn and stay informed with the latest news from Bundle through the blog. The new website also teases the launch of Bundle Futures.

Countries and corporate organisations serious about the future invest in research and development (R&D) in order not to be left behind by the ever-moving train of civilisation. The world is daily evolving and with this are emerging technologies in every facet of human endeavour — agriculture, aerospace, finance, optoelectronics, information communication technology (ICT) and others. Though the N660 million research grants of the NCC is but a drop in the ocean, LUCAS AJANAKU writes that it’s a significant gesture from the regulator.

Experts have said one of the key issues in the rising youth unemployment in the country estimated at 40 per cent is a mismatch between available skills set and knowledge of certificate owners.

Nigeria’s unemployment rate rose to 35 per cent in 2021, according to a report by a credit rating agency, Agusto & Co., published this January.

Setting aside cash to carry out R&D, especially in emerging technologies, by universities, would not only lead to scientific breakthroughs in product but also open new vistas of opportunities in terms of relevant knowledge acquisition by the youth that form about 70 per cent of the nation’s population demography.

Online knowledge bank, Wikipedia, said: “Emerging technologies are technologies whose development, practical applications, or both are still largely unrealised, such that they are figuratively emerging into prominence from a background of nonexistence or obscurity. These technologies are new but also include older technologies.”

Investopedia said the term R&D is widely linked to innovation both in the corporate and government world or the public and private sectors. R&D allows a company to stay ahead of its competition. Without an R&D program, a company may not survive on its own and may have to rely on other ways to innovate such as engaging in mergers and acquisitions (M&A) or partnerships.

The 10 big spenders on R&D are Samsung: $14.9 billion; Alphabet: $14.8 billion; Volkswagen: $14.5 billion; Microsoft: $13.6 billion; Huawei: $12.5 billion; Intel: $12.1 billion; Apple: $10.7 billion; Roche: $9.8 billion; Johnson & Johnson: $9.7 billion; and Daimler: $9.6 billion, according to spendmenot.com.

The Nigerian Communications Commission (NCC) has awarded fresh research grants and endowed professorial chairs in some universities to the tune of N233 million consistent with its recognition of the academia as a central stakeholder in its commitment to linkages and local development sphere of the  telecom sector.

From the amount, N172.5 million was awarded to support 13 proposals found to have met the stipulated criteria in the advertised 2021 Request for Proposal (RfP) for Telecommunications-Based Research Innovations from Nigerian Tertiary Institutions (research grant) Programme. Additionally, three universities received N20 million each for endowments of professorial chair by the commission.

Speaking at the awards, which took place at the commission’s head office in Maitama, Abuja, the Executive Vice Chairman, Prof. Garba Danbatta, said the event demonstrated the commission’s strong resolve in advancing the impact of digital technologies on the national economy, using indigenous products and solutions.

Presenting award letters to the Lead Researchers of the beneficiaries of the 13 research grants, Danbatta said, under the Telecommunications-Based Research Innovations, tertiary institutions submit detailed and well thought-out research proposals, on specific thematic areas provided by the commission. The proposals were expected to result in the development of commercially-viable prototypes as concrete harvests.

According to Danbatta, in 2021 RfP, the commission received a total of 55 research proposals that focused on five emerging technology areas, namely: Fifth Generation (5G) deployment; Innovative Clean Energy; Advanced Method of Quality of Service (QoS)/Quality of Experience Management and Test Mechanism; Internet of Things (IoT); Low Power Wide Area Network (LPWAN) Technology; and Monitoring and Localising of Drones.

“After thorough evaluations, 13 proposals were found to have met the stipulated criteria. Indeed, this is a clear testimony to the objectivity and painstaking approach to the evaluation process aimed at ensuring that the best quality is achieved and only researches that could produce prototypes with the potential of providing solutions to both local and global challenges were selected,” Danbatta said as he congratulates the 13 successful research awardees.

The EVC also presented dummy cheques of N20 million each to the Vice Chancellors of   three Nigerian universities, namely: University of Port Harcourt, Rivers State; Usman Danfodio University, Sokoto; and Federal University of Technology, Minna, Niger State, who are the beneficiaries of the NCC’s Professorial Chair Endowments.

“The Commission has endowed professorial chairs in tertiary institutions across the country, as a mechanism in entrenching innovations in our tertiary institutions, as well as having graduates that are “industry-ready”. The endowment of professorial chairs in universities is one of Commission’s initiatives in supporting the academia to focus on research in Information and Communication Technology (ICT) in order to enhance the advancements of emerging technologies,” Danbatta stated, to underscore the purpose for instituting professorial chairs in tertiary institutions.

The fresh endowment in the three universities brings to seven, the number of universities that the Commission has endowed professorial chairs. Earlier, the NCC had instituted professorial chairs in Federal University of Technology, Owerri, Imo State; Bayero University, Kano, Kano State; Abubakar Tafawa Balewa University, Bauchi State; and University of Ibadan, Oyo State.

He stated that while the implementation of the endowment is through a Memorandum of Understanding (MoU) signed between the Commission and each benefitting university just as the Commission recently included the signing of MoU as part of the implementation of the Telecommunications-Based Research Innovations.

The EVC stated that with the latest awards and endowments, the Commission has committed more than N660 million to tertiary institutions for ICT-focused research innovations. This is in demonstration of commitment to driving the attainment of the goals of the Federal Government’s agenda on digital economy, as captured in the National Digital Economy Policy and Strategy (NDEPS), 2020-2030.

Earlier in his remarks, NCC’s Head of Research and Development (HRD), Kelechi Nwankwo, thanked the EVC for his vision to continually deepen collaboration between the Commission and the Academia. Nwankwo expressed optimism that the Management of the Commission would continue to allocate the requisite resources to research, development and innovations that are necessary for the industry to continue to contribute to the socio-economic development of the country.

The HRD said the initiatives which are policy-driven were instituted as a proof of Commission’s  appreciation of the importance of working with stakeholders to engender innovations and build indigenous technological capabilities that would strengthen the ICT ecosystem, not only in the provision of services but also in the development of the communications manufacturing and supply sector within the Nigerian economy. He said collaborations such as the one with academia are in line with the NCC’s Strategic Management Plan (SMP), 2020-2024, because strategic partnering has been identified as a critical pillar for the attainment of NCC’s corporate objectives.

Nwankwo encouraged the beneficiaries of the research grants and the universities that benefited from the endowment of professorial chairs, to put the financial resources into proper use that will produce research outputs that address societal problems and contribute to further growth of the telecoms sector.

Expressing appreciation on behalf of the beneficiaries, the Vice Chancellor, Usman Danfodio University, Prof. Lawal Bilbis, assured the Commission that the funds will be put to judicious use.

Investopedia said companies across all sectors and industries undergo R&D activities. Corporations experience growth through these improvements and the development of new goods and services. Pharmaceuticals, semiconductors, and software/technology companies tend to spend the most on R&D. In Europe, R&D is known as research and technical or technological development (RTD).

It explained that companies that set up and employ entire R&D departments commit substantial capital to the effort. They estimate the risk-adjusted return on their R&D expenditures—which inevitably involves risk of capital—because there is no immediate payoff, and the return on investment (ROI) is uncertain. As more money is invested in R&D, the level of capital risk increases. Other companies may choose to outsource their R&D for a variety of reasons including size and cost. Through R&D, companies can design new products and improve their existing offerings.

R&D is separate from most operational activities performed by a corporation. The research and/or development is typically not performed with the expectation of immediate profit. Instead, it is expected to contribute to the long-term profitability of a company. R&D may lead to patents, copyrights, and trademarks as discoveries are made and products created.

 

IHS Towers, one of the largest independent owners, operators, and developers of shared telecom infrastructure, has announced the completion of the Ladoke Akintola University of Technology Innovation Hub at the tertiary institution in Ogbomosho, Oyo State.

The initiative further lends credence to IHS Towers’ commitment to developing the information technology space for youths.

The innovation hub, built and equipped by IHS Nigeria, will initially impact more than 3000 persons with a yearly increase. Designed to provide cutting-edge digital and technological equipment, the hub will enhance experiential learning in artificial intelligence, machine learning, data science, autotronics, robotics, digital marketing and blockchain. It will develop existing ICT expertise through training, innovations, and an enabling environment.

IHS Chief Executive Officer for Nigeria Mohamad Darwish reiterated the company’s commitment to creating a better future for youths using technology as a catalyst.

He said: “The importance of technology innovation hubs cannot be overstated. It’s a quick way to create jobs and bridge the gap between the developed and developing world. We urge members of the university community to use the opportunity of the hub to its maximum potential.”

Darwish lauded the state government for its commitment to growing the ICT sector. “The Oyo State Government’s partnership in facilitating the creation of the LAUTECH Innovation Hub is highly commendable; this will no doubt contribute optimally to the economic development of the state and country,” he said.

The Hub is equipped with 120 cutting-edge technology machines for robotics, Artificial Intelligence (AI), Data Science, and Machine Learning (ML). The hub also has an exhibition hall, auto and mini engineering workshop, research laboratory, electronics lab, robotics lab, lecture rooms, server room and administrative offices.

Divisional Chief Executive Officer, ipNX Nigeria, Segun Okuneye, has said Nigeria requires additional 167,000 kilometres of fibre infrastructure to achieve its target of fifth generation (5G) network and ubiquitous broadband penetration.

To meet the broadband targets and those of the future with advanced connectivity such as the fifth-generation network, he said: “The nation needs between 120,000 to 167,000 kms of fibre infrastructure, in addition to the existing 55,000 km.”

Okuneye made this submission at a forum dedicated to the National Policy on the Fifith Generation Network for Nigeria’s Digital Economy, which ipNX co-sponsored.

He noted that the critical link between undersea cables that conveys huge connectivity capacity into the country and the end users is the fibre sub-sector, where ipNX Nigeria is a major player.

According to him, “Nigeria needs three times more fibre infrastructure than it currently has to attain about 90 per cent broadband penetration among others by 2025.”

He said backhauling is a major dependent requirement to express the inherent value from the 5th generation network.

This, according to him, is required for accessing traffic aggregation which involves capacity and scalability; as well as transportation in high-speed, low latency, high quality that guarantees reliability.

He said: “Increased speeds with lower attenuation, immunity to electromagnetic interference, small size, and virtually unlimited bandwidth potential are among the many reasons why fiber is the right choice when compared to other backhauling technologies.”

Okuneye said it is important to lay fibre to potential small and macro cells, wherever and whenever possible and existing cell sites.

“This is a critical preparatory step if these cell sites are to be upgraded to 5G in the coming years,” he said.

As much as the ipNX boss underscored the key roles of fibre in 5G deployment, he also identified potential challenges to successful Role-Out of 5G, from fibre perspective.

He bemoaned low levels of Fiber Optic Infrastructure, noting that nationally, fibre optic cable infrastructure deployment is insufficient and mostly available in a few cities and urban areas.

Factors contributing to this, according to him, include the issues of vandalism and damage to existing fiber infrastructure from road construction.

He further listed Right of Way (RoW), as a long-standing challenge to telecoms infrastructure roll-out over the years.

He stated that high RoW fees continue to hinder the deployment of telecommunications infrastructure in Nigeria.

“The proposed Unified RoW is yet to be accepted by several states and their agencies, and as they continue to administer RoW differently with financial demands, this poses major challenges to operators’ roll out plans.

“This is in addition to the divergent policies and inability to obtain R0W permits from the various states,” he lamented.

Okuneye also identified access to forex as another cog in the wheel of fibre roll-out for 5G and ubiquitous broadband.

He noted that the telecoms industry in Nigeria relies heavily on foreign equipment manufacturers and imported technical expertise for deployment and maintenance of networks.

“The cost and process of accessing forex still remains a major challenge to the fibre sub-sector operators, and this could further create a setback for 5G deployment.

“In addition, operators are still experiencing security challenges, sometimes leading to the temporary shutdown of telecom services – caused by Infrastructure vandalism, thefts, and community issues. Hence, security will continue to be a challenge if not effectively tackled,” he said.

Okuneye called for innovative regulations and stakeholder management, adding that multiple taxation and duties should also be addressed to relieve their impacts on importation of passive and active infrastructure.

”Therefore, the fibre platform and sub-sector operators will continue to play an important role in 5G implementation. The platform will be a key driver to enjoy the intended gain of the Digital Economy and Transformation in Nigeria and to attain the goal of the National Broadband Plan

“The Fibre sub-sector operators in Nigeria are in dire need of government intervention to address the myriad of challenges facing the sector such as high interest rates, limited access to foreign exchange, high taxation, steep cost of Right-of-Way permits, denial of permits for infrastructure roll-out, damage to infrastructure, unstable power supply and others.

“The application of interventionist policies will further help the fibre sub-sector to effectively play its role in the successful implementation of 5G in Nigeria,” he said.

Regardless of technological and financial innovations, money is a form of technology that has been around for a few thousand years. But it changed a little in terms of its fundamental nature and effects.

It was heartwarming when the Minister of Communications and Digital Economy, Prof. Isa Pantami announced policy initiatives that promote investment in infrastructure in the Nigerian telecom industry in order to deepen connectivity to enhance the nation’s growth and development.

Speaking on the sideline of the reception marking the landing of the Equiano undersea Cable System in Nigeria, Pantami said the government is driving the implementation of existing digital economy-oriented policies for the transparent and secured online transactions by also encouraging foreign and local investment in infrastructure projects such as the way Google and its co-investors have done.

Money as we know it is nearing the end of its life cycle. People are eager to declare the end of new technology and dismiss it as unavoidable. Every technology is eventually superseded by a better, more advanced one.

Now it’s happening with money, which is an out-of-date technology in which we print pictures on pieces of paper and assign a value to them because the government says so.

But historically, the currency has had its expiration date due to changes in diplomatic agreements or technological development. We’ve gone from seashells, cowries, gold coins, coins, paper, and now digital. We’re already witnessing the transition to a cashless society, but is there more to this shift?

Money has the power to build and destroy civilizations. It plays an undeniably important role in everyone’s lives today, whether they recognize it or not. Money’s introduction can be considered the final stage in bringing the world to where it is now. From the technology we use to the conflicts we fight, the power of finance can be found everywhere.

We are a generation that is equipped to thrive in the digital age. Paper money, on the other hand, is an outdated analog technology. The digital version of anything has an exponentially larger impact than the analog version ever had. Combine the two and you’ll see that we’re on the verge of a new type of money that is not tied to the whims of men or the government.

Blockchain and the widespread adoption of smartphones have paved the way. What if we had a new type of money, one that is digitally native and whose supply flow is not regulated by the government? This is a radical proposal that many people would reject.

As a result, humanity is preparing for the digital economy, which is why the prices of Bitcoin, Ethereum, and other cryptocurrencies have skyrocketed in recent years, and now major corporations are investing in cryptocurrencies to prepare for the future. This technology’s door has already been opened.

Paper money was originally employed in China over 1000 years ago, and it was met with confusion and widespread condemnation. When large coin-based transactions became impractical, traders devised a system in which pieces of paper were inscribed with writing indicating their value. Transactions were concluded by passing over the paper note, and then the parties went to warehouses to exchange coins.

The early banks were warehouses that kept vast quantities of heavy coinage. The government outlawed the paper as its popularity grew, and then issued its notes as legal tender and the world’s first real national paper money was born.

Surprisingly, China has suddenly banned cryptocurrency, a thousand years after the initial paper notes were outlawed. It was not the government that invented crypto in the first place.

Could history repeat itself, with China producing a regulated cryptocurrency as it did a millennium ago? Words like Bitcoin, Ethereum, Dogecoin, and Alt-Coins generate frenzied reactions.

People appear to be either fervently hopeful about Bitcoin or strongly dubious about it. Although Bitcoin is fraught with controversy, most crypto critics are beginning to change their tune.

In these highly unpredictable years of COVID-19, quantitative easing, stock market explosions, populist governments, negative interest rates, Brexit, and catastrophic inflation forecasts, gold was anticipated to skyrocket, but it has hardly moved at all. It is worth about the same as it was in 2012. Bitcoin, on the other hand, has increased in value from less than $1 in 2012 to more than $30,000 today.

When things are tough, having someone in charge who can help the financial system react to shocks is beneficial. Many strategies are used in monetary policy to assist in managing and stabilizing the economy. These tools would be unavailable if all money was held in private crypto networks, and we would be on our own.

Many central bankers across the world are studying cryptocurrency to see if some of its benefits may be incorporated into central bank digital currencies. However, if they take too long to produce widely accepted cryptocurrencies, a growing portion of the population will place their trust in the private currencies devised by creative programmers.

Of course, private cryptocurrencies are fantastic, but it’s also comforting to know that central banks are also leading and innovating money, ensuring that crypto’s reliance on the private sector is not exclusive.

When it comes to the worth of money, the question is: who do you have more faith in: governments, precious metals companies, or computer programmers’ algorithms?

Nigeria is not turning a blind eye to the creation of new technological money in the face of overwhelming evidence. On September 24, 2021, the Central Bank of Nigeria (CBN) announced the website for its digital money, the e-Naira.

The digital currency was created as an alternative to more widely used currencies such as Bitcoins and cryptocurrencies in Nigeria.

The eNaira is supposed to have an app, but it’s not available right now. When opposed to cash payments, the e-Naira is meant to function as both a means of exchange and a store of value, enabling better payment prospects in retail transactions.

It features a one-of-a-kind operational structure that is both unique and unlike any other kind of central bank money.

As a legal tender, the digital currency has enormous possibilities, including the ability to boost the value of the Naira and raise government revenue due to the ease with which transactions may be completed, particularly across borders.

For the management of the e-Naira, the government must devise a well-thought-out structure to ensure that risks are effectively managed to safeguard the interest of the different stakeholders – individuals, businesses, government organisations, and financial institutions.

Most importantly, a nationwide awareness campaign programme is necessary to educate the users on protecting their data as well as the various channels available for them to report loss of device or any compromise of the eNaira speed wallet.

 .Gyem writes from Wuye District, Abuja with Gyemfom111@gmail.com

The entry of e-commerce in Nigeria was predicated on the coming of an easier, faster and more convenient shopping option to the prevalent brick and mortar culture. It came with cost saving benefits and a competitive market pricing which gives consumers assortments to choose from. Within a few months, a new price checking culture had emerged. Nigerians began to check and compare product prices online, rather than the conventional market price sampling. Hence, a rivalry was born, as proponents of digital products gradually lured customers away from physical stores.

While millions of digital natives and migrants tilted towards convenience of online shopping, the Nigerian informal retail market, estimated at over $100 billion kept the conventional market routes busy. This is understandable. About 90% of the retailers in the sector have no formal education, and 85% of them prefer to settle their transactions in cash. Though the majority of them have access and own smartphones, the devices are mostly underused, as internet surfing skills don’t appeal to the majority in this bracket.

However, these retailers needed the convenience of e-commerce. Market trips are not minced meat. For some, it takes a full day of physical and mental energy. Transportation costs also eat deep into their profit. The market was thus open to a well tailored technology. “I watched my mother, a retailer, burn both ends of the candle to provide for both my siblings and me. While studying at a university in China, I saw firsthand how technology could transform and empower communities. So the challenges my mother went through spurred me to create a similar solution for the Nigerian informal retail community,” said Alerzo Limited CEO, Adewale Opaleye.

Alerzo is one of the fast growing B2B e-commerce brands deploying technology to ease business experience for informal retailers in Nigeria, connecting physical stores with digital solutions. TradeDepot, Omnibiz, Wabi2b also play in the sector across Nigeria.

Fully aware that the majority of these retailers have no formal education, e-commerce, through shopping and logistics technology, has simplified the goods ordering process for retailers. They source products from manufacturers based on orders from retailers and deliver them to their stores. “We’ve made the restocking process easier by making them available on simple channels like USSD codes and WhatsApp. More importantly, we are also training retailers in rural communities on how they can order goods using our app. Improved internet penetration is also helping because many of them have smartphones, they only need little guidance and teaching,” Opaleye added.

B2B e-commerce companies say they also offer market advisory services to retailers to enable them to improve their profit margins. According to some of the key market players, they recommend popular stock options to retailers based on data gathered from other vendors and market trends observed from consumers. This way, they help retailers introduce new products that establish them as the go-to shop in their locations and attain customer loyalty.

As the online shopping wave gets stronger, the crucial space occupied by informal retailers in the Nigerian setting cannot be ignored. It is therefore noteworthy that digital solutions by e-commerce brands in the sector are showing how technology can complement physical stores, improve market efficiency and facilitate overall digital economy growth.

The Nigerian Communications Commission (NCC), stakeholders in the academia, the public sector and enthusiasts of technology for development, have deliberated on the benefits derivable from emerging technologies such as Blockchain, to advance the growth of the economy.

At the two-day workshop by the Commission, in collaboration with the Bureau of Public Service Reforms (BPSR), stakeholders were in agreement that through effective implementation of policies as expressed in guidelines, regulations and directions driven by the NCC, Blockchain could be a bedrock of economic innovation and growth.

The workshop, which took place in Abuja and focused on ‘’Distributed Ledger Technology (Blockchain) Ecosystem, Decentralisation and Adoption Methods’’, drew participants from financial institutions, Ministries, Departments and Agencies (MDAs), the academia, the military, and paramilitary forces, the Nigerian Cyberwarfare Command, and the private sector.

The stakeholders, who spoke in turn at the workshop, acknowledged and profoundly appreciated the role of NCC in engendering a dynamic digital regulatory environment, the remarkable contribution to the growth and development of novel and emerging technologies, and NCC’s adoption of adaptive mechanisms that have enhanced emerging technologies in Nigeria.

Addressing participants at the event, NCC’s Director, New Media and Information Security, Dr. Haru Al-Hassan, who delivered the opening speech at the event, on behalf of the Executive Vice Chairman of the Commission, Prof. Umar Danbatta, said national digital economy frameworks such as the National Digital Economy Policy and Strategy (NDEPS), 2020-2030 instituted by the Federal Government as well as regulatory initiatives by the Commission, have been significant enablers of Blockchain and emerging technologies.

According to Al- Hassan, “good regulatory policies are the bedrock of innovation and growth and it is the aspiration of the Commission that Distributed Ledger Technologies (DLTs) otherwise known as Blockchain and other innovative technologies and services would continue to thrive and contribute to the growth and development of Nigeria.”

In the same vein, the Director-General, BPSR, Dr. Dasuki Arabi, informed the audience that the Nigerian government was already making efforts, through a number of initiatives, to harmonising emerging technologies with the contemporary public service sector in a way that strengthens the efficiency of the public sector. He also affirmed that Blockchain would be central in the implementation of the National e-Govt Masterplan.

The BPSR Chief Executive equally listed the introduction of the Treasury Single Account (TSA), the Integrated Payroll and Personnel Information System (IPPIS), the Bank Verification Number (BVN), automation of enforcement activities of some agencies of the government, including the Federal Road Safety Corps (FRSC), as well as automated performance measurement systems for public sector employees, as concrete examples of the utilisation of technology in the public sector.

Arabi asserted that Nigeria ranks third in Africa, in the use of telecommunications for public service delivery, coming behind South Africa and Egypt. Arabi called on policymakers to ensure robust policy formulation that ensures improved digital literacy and increased automation in public service delivery.

Other speakers at the event included Dr. Abdul-Kareem Oloyede of University of Ilorin, Kwara State; Amaka Ukwueze and Vivian Okonkwo, both of the University of Nigeria, Nsukka (UNN), Enugu State, and Col. Romi Legha of the Indian High Commission.

Oloyede, who clarified the difference between Blockchain and Bitcoin, stated that the former is the underlying technology used for Bitcoin and other cryptocurrencies. He also stated that Blockchain could be utilised to minimise expenditure and expenses, speed up transactions, and improve data security for financial institutions, health care, and businesses.

Ukwueze particularly applauded the Commission for taking the lead in discussions on DLTs considering the fact that Nigeria does not have a clear-cut Blockchain policy yet, even though countries worldwide had begun integrating DLT as a central part of their business practices.

“Republic of Malta, a southern European island country, located in the south central region of the Mediterranean Sea, incorporated Blockchain into its digital and economic ecosystem. Also, China, Abu Dhabi, and Japan are also instituting DLT-friendly regulations in their governance processes,” Ukwueze said.

Accordingly, Ukwueze urged the Federal Government to adopt Blockchain deployment actively, promote legal certainty for Blockchain applications, and provide a flexible and adaptive regulatory environment that fosters innovation. Conclusively, Ukwueze stated that “government’s regulatory enforcement processes must seek to encourage companies to be consumer-centric and ensure compliance”.

In her contribution to the discourse, Okonkwo said adoption of Blockchain technology would be essential in documentation, archiving, cloud storage, identity management, and online education. Additionally, Okonkwo declared that blockchain is a cost-effective method of optimising the quality of the educational administrative processes, and equally a cost-effective application that could improve service delivery across the nation.

The DLT, such as Blockchain, DAG; Hashgraph; Holochain; Tempo (Radix), is a digital system for recording transactions of assets at multiple places simultaneously. The key features of DLT include:  immutability (once written, it is extremely difficult to alter), and peer-to-peer sharing, in the sense that ledger is shared among peers while there is no central ownership.

Employees of leading telecommunications services provider, Airtel Nigeria, have called on children across the country to adopt the reading culture as it commemorates this year’s edition of the World Book Day

The World Book Day was established by the United Nations Educational, Scientific, and Cultural Organisation (UNESCO) on April 23, 1995, and it is set aside to carry out activities with the aim of encouraging a culture of reading in all ages.

The Airtel employees have also unveiled plans for marking the World Book Day, saying they will donate thousands of reading books to children across its adopted primary schools while also hosting interactive reading sessions with the children in the schools.

The programme, which is at the instance of the company’s award-winning Employee Volunteer Scheme (Airtel EVS), will be held in primary schools in Lagos, Ogun, Kaduna, Cross River, Imo and Kwara states and it is entirely funded by employees of Airtel Nigeria.

Commenting on the initiative, the Chief Executive Officer & Managing Director, Airtel Nigeria, Surendran Chemmenkotil, said Airtel employees are passionate about building a solid future for children especially underprivileged kids as well as relentless in its focus in promoting continuous learning among deprived and underprivileged children.

“Knowledge is power, and books are full of it. We want children, no matter their family background or economic status, to have their imagination stimulated and to expand their understanding of the world. Indeed, Airtel hopes to inspire and uplift as much children as we can – even underprivileged ones – so that they can strive for a better future and contribute to nation building.

“Access to education is at the heart of our Sustainability strategy and I am glad that my colleagues are not just pursuing this vision at a corporate level but also at a personal level,” he said.

The initiative will kick off on Tuesday, April 26, 2022, at the Oremeji Primary School, Ajegunle, Lagos, and Yahaya Hamza Primary School, Zaria Kaduna while the train will move to the Iyeru-Okin primary school, Offa, Kwara state and Presbyterian Primary School, Cross River State on the 27th of April. The final leg of the programme will hold at St. John’s Primary School, Ogun State and Community Primary School, Amumara, Imo State on the 28th of April.

As part of the programme, Airtel employees will not only donate books but also take time off work to interact and read with all the children in the six adopted schools.

Airtel Nigeria’s Adopt-a-School programme is targeted at rehabilitating the physical structure of underserved, rural schools while providing educational resources for the children and capacity building support for teachers on an ongoing basis. The programme was launched in 2011 with the adoption of Oremeji Primary School, Ajegunle, Lagos.