LUCAS AJANAKU

The Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Nigerian Communications Commission (NCC), banks and other mobile money operators are expected at the mobile money conference organised by the Association of Licensed Mobile Payment Operators (ALMPO).

With Mobile Money: Beyond Payments as theme, the forum is scheduled for November 27 at Four Points by Sheraton Hotel, Victoria Island, Lagos.

Mobile money has continued to grow and serve as enabler to the realisation of financial inclusion target of the CBN.

The Chairman, ALMPO, Mr. Chinedu Onuoha, told reporters that the objective of the forum was to forge a collaborative approach towards harnessing new initiatives and opportunity areas that will accelerate mobile money adoption and deepen financial inclusion.

“The conference remains a platform for mobile money operators, regulators, and other stakeholders to discuss current situations, challenges and advancements of mobile money in Nigeria.

Read Also: Ernst & Young, CBN, NDIC push for AMCON’s liquidation

 

“The event is expected to pull c-level participants across payment and non-payment ecosystems in Nigeria,” he said.

Discussions will be around: Beyond Payments: Disrupting the Value Chain to Deepen Mobile Money Adoption – with special focus on: Micro Credit & Savings, Micro-Insurance, Micro-Pension, and Agrictech.

Others  are: Beyond Payments: Enhancing Industry Synergy in the Fight Against Mobile Money Fraud; Setting Mobile Money Agenda for 2020; Harnessing New Opportunity Areas for Mobile Money Adoption in Nigeria and a special presentation on The State of Mobile Money in Nigeria.

 

Having exceeded the 30 per cent broadband target of the National Broadband Plan 2013-2018, focus is now on the 70 per cent target. The Ministry of Communications and Digital Economy, working with the Nigerian Communications Commission (NCC) and others, must lobby the  National Assembly to pass the Critical National Infrastructure Bill into law, writes LUCAS AJANAKU.

 

When a member of the House Telecoms Committee,   Hon Isiaka Ibrahim, advised the Nigerian Communications Commission (NCC) to forward its proposed amendments to the Nigerian Communications Act 2003, to the National Assembly for action, it was assumed that it will resonate with the NCC.

But the Chairman, NCC Board, Sen Biyi Durojaye, disagreed with him, arguing that “we cannot continue changing the law all the time.”

Rather than seeking a new list of proposed amandment to the NCA, Sen Durojaye said the Critical National Infrstructure (CNI) Bill pending before the National Assembly should be attended to.

Hon Ibrahim and Sen Durojaye spoke during sensistisation workshop organised by the NCC on the African Continental Trade Area (AfCFTA) for the Nigerian Communications Industry in Lagos, at the weekend.

He said since 1776 when the American constitution was birthed, it has undergone less than 50 amendments.

Rather than rooting for amendment, he urged Hon Isiaka to work with his colleagues to pass the CNI into law. Durojaye said the law should be harsh on “fellow citizens” who are seeking short cut to wealth by resorting to wilful vandalism of telecoms cables.

The NCC chairman was short of recommending the Chinese model of criminal justice system which prescribed death penalty for economic crimes, including stealing of public funds.

He said the NCC will continue to work hard to ensure that it kept contributing significantly to the nation’s gross domestic product (GDP), adding that the Commission also recognised the enormous 1.2billion  market AfCFTA provides.

He added that the huge youthful population on the continent is also hungry for data.

Also speaking on the occasion, Lagos State Governor, Mr Babajide Sanwo-Olu said to enhance the sector’s competitiveness in the emerging single market, a lot of efforts must be put into improving the efficiency of service delivery through investment in modern technology.

He urged the communications industry to leverage the provisions of AfCFTA to the advantage of the remains one of the major factors to fully drive the digital economic revolution in the country.

The CNI bill has been with the National Assembly for over one decade while the indsurty that has attracted over $70billion.

Access to broadband services has improved. About 64.3 million people, equivalent to 33 per cent of the population are said to have access.

The rate of vandalism, especially fibre cuts has increased by 80 per cent since 2016.

In 2015, the industry recorded about 1,200 cuts. Over 10,000 generating sets were lost to miscreants who broke into Base Transceiver Stattions (BTS) to steal diesel, batteries and others.

President, Association of Telecoms Companies of Nigeria (ATCON), Olusola Teniola, said the passage of the bill alongside the enforcement of Section 4 of the Cybercrime Act, which make reference to CNI, will  protect the industry and ensure the growth of the sector.

Read Also: NCC stops MTN from charging customers N4 for USSD

 

He lamented that multiple daily fibre cuts and multiple taxes, levies and fees at both state and local government levels also pose challenges to achieving the target.

Teniola said: “There will be great impact on foreign direct investment (FDI) and domestic investors if the bill is not passed or Section 4 is not properly enforced. Taking the industry to Industry 4.0 will definitely require protection from CNI Bill in conjunction with execution of Section 4 of the Cybercrime Act.”

He said the industry that has created jobs, grown sector contribution to significantly and has become enabler  to other sectors of the economy deserves protection.

The Association of Licensed Telecoms Operators of Nigeria (ALTON) agrees no less with Teniola. Its Chairman, Gbenga Adebayo, said “Unless operators have first level of protection by government, it will be difficult to continue to provide uninterrupted services with the type of vulnerability experienced by our members and their infrastructure. We kindly request a presidential executive order on ‘Telecom Infrastructure as Critical National Security and Economic Infrastructure’ as provided by the Cybercrime Law of 2015.”

Pioneer Communications Technology Minister, Mrs Omobola Johnson said the government should explore the use of Executive Order to get protection for the industry.

The Chief Executive Officer, MainOne Cable, Funke Opeke, said there might never be 70 per cent broadband penetration in another five years if the industry remains the way it is.

According to her, it has become very critical to protect telecoms infrastructure, especially if Nigeria planned to achieve more in the Fourth Industrial Revolution.

“The market seems ready far more from the telecoms sector -broadband development, startup growth, Fourth Industrial Revolution, among others, but infrastructure that will facilitate this development needs to be protected.”

She said the various submarine cables in the country are operating at less than installed capacity. According to her, the about five fibre cables are still less than 10 per cent utilised. The cables include MainOne, Glo 1, SAT 3, WACS, and ACE.

The  five cables have over 40TBPS international connectivity capacity at Lagos shores. Furthermore, the requisite terrestrial infrastructure to transmit this capacity from the shores across the country, particularly the unserved and underserved areas, are seriously missing. Besides, the relevant national backbone is also not available.

The Minister of Communications and Digital Economy, Dr Ibrahim Panatami, should provide leadership to address the multiple challenges facing the industry instead of issuing directives to independent regulatory bodies in the industry, a sector analyst said.

The submarine cable systems are responsible for over 95 per cent of the internet, communications and broadband connectivity Nigerians currently enjoy a today. This covers activities ranging from sending and receiving emails, surfing the internet, streaming and downloading of music, videos and other digital content, teleconferencing, social media engagements, banking and financial market transactions, various electronic commerce activities, phone calls and international communications, telemedicine, long distance education, among others.

Support for entrepreneurs is key to Nigeria’s future. This was one of the issues highlighted during the 31st reunion meeting of the pioneer 1988 Class of the Lagos State University (LASU) in Lagos. DANIEL ESSIET reports.

 

Unemployment is rising in Nigeria, especially among youths. Even those with a strong educational background struggle to find a job. But while they have viable business ideas, ambition, and drive, they soon realise they need additional skills to succeed.

To this end, the Lagos State Government has created the Lagos State Employment Trust Fund (LSETF),  to tackle the scourge of unemployment by equipping youths with employable skills.

The government is training entrepreneurs to help make their businesses more dynamic and competitive.

Addresing the 31st anniversary reunion meeting of the Pioneer 1988 Class of  the Lagos State University (LASU) in  Lagos, the Head of Service (HOS) Hakeem Muri-Okunola said the government was creating an enabling environment  for  SMEs to grow by deploying expertise, technology, and financial resources.

Represented by the Permanent Secretary, Office of Establishments and Training, Mr. Abiodun Bamgboye, Muri-Okunola said the country needed business enterprises that would contribute to the growth of the economy, if it must meet the needs of the people.

He explained why the state government had been supporting Small and Medium Enterprises (SMEs) through the LSETF.

According to him, SMEs are the engine room for growth, vehicle for job creation, tools for poverty alleviation and wealth creation for any country’s economy.

The Director, Development Finance Department, Central Bank of Nigeria (CBN), Dr. Mudashiru Olaitan, represented by the Deputy Director, Development Finance, Adedeji Adebisi, Olaitan, said the  rejection rate of SME application by commercial banks is very high.

He said  there is a need to enlighten the bankers to grow the sector.

He said the bank understands that partnership is the bedrock of success and the driver of sustainable impact.

He said CBN is committed to  ensuring  interventions to address challenges.

Former Director-General, Federal Institute of Industrial Research, Oshodi (FIIRO), Dr. Gloria Elemo, reiterated  the need for skill acquisition by youths to develop more entrepreneurs.

She advocated capacity building for SMEs to enhance their productive capabilities for jobs and wealth creation.

According to her, entrepreneurs who want to have an impact on the startup ecosystem not only need the right network and mentors but also need to develop an entrepreneurial mindset which comes from developing a risk-taking ability, leadership skills and an ability to connect the dots across disciplines.

A former Minister of State for Defence, Musiliu Obanikoro, said lack of adequate skills and entrepreneurial mindset among youths is a major hurdle for starts.

He  urged higher institutions to go beyond churning out graduates to building ready-to-market  professionals.

He said they should be equipped for functions of the future.

Read Also: U.S. partners NGO to train 105 entrepreneurs in Ibadan

 

He  said graduates must be aware that it was no longer business as usual, following the fast-changing technological landscape.

He said the graduates must also apprise themselves of the most recent technology and continue to retool their skills to remain relevant  and into the future.

LASU Vice-Chancellor, Prof. Olanrewaju Fagbohun,  said the  university  has a focus on entrepreneurship and innovation.

Fagbohun, represented by Dean, Faculty of Social Sciences of LASU, Prof. Ayo Omotayo, said  student entrepreneurs from  the university took part at the first-ever Lagos Chamber of Commerce and Industry (LCCI) yearly entrepreneurship summit.

At the event, which had as theme, “Youth entrepreneurship and national development”, he said LASU budding student entrepreneurs lived up to expectations as they showcased products they produced during the exhibition immediately after the summit.

The items ranged from bags, sandals, beads, liquid soaps, insecticides to air freshener. The products were highly appreciated by those who attended the event.

Over 250 students from LASU also participated in the Free Entrepreneurship Development programme organised by AIICO Insurance Plc for LASU students in Lagos.

The programme was aimed at igniting students’ passion and drive for success in their journey through entrepreneurship.

The Chairman, Class Standing Committee, Mrs Bopo Oyekan-Ismaila,  said it was  a day of love for the alumni to reconnect  under one roof after 31 years.

The event was filled with various fun activities that brought back great memories.

In  attendance was the Chairman of Board of Trustees of LASU  Alumni Association, Mr. Fatai Sonoiki.

The Southsouth’s booming start-up scene has become as much a feature of its top-tier cities as entrepreneurship has become an appealing alternative for youths. There are many success stories to inspire them. DANIEL ESSIET reports.

The Southsouth region is fostering a more creative entrepreneurial culture. This is so as there is an influx of venture capital into start-ups, from both home and abroad.

Startups in logistics, fintech and other sectors have received millions of dollars from foreign investors.

The convener of StartupSouth,  Uche Aniche, said young innovators were strengthening the region’s position among  attractive  destinations in the world.

Speaking during the group’s regional conference in Uyo, the Akwa Ibom State capital, Aniche said the ecosystem has a rich startup, including firms and founders, networking events and creative and co-working business and community spaces.

He said supporting startups and growing tech firms to create jobs  would have a positive impact on the regional economy.

Aniche called on founders of startups to see the 11 states in the area as their primary market, as it has a huge  population of about 60 million.

He also called on the state governments in the region to embrace the conference as a platform to engage not only the organised private sector but also the youth to feel their pulse.

He said the next edition of StartupSouth would hold in a city where the state government would be willing to partner the project.

The Regional Manager, Southsouth, Bank of Industry (BoI), Sunkanmi Oriyomi, said startups could get N10 million loan from the bank without a collateral.

MainOne Chief Executive, Ms. Funke Opeke, highlighted the importance of broadband to development, stressing why state  governments should pay attention to enabling broadbands in their domains.

Quoting a World Bank report, she said: “Ten per cent  in broadband penetration would increase GDP per capita growth by 1.38 per cent,” and called for  creative approaches to achieving the broadband goal using her company’s deal with Edo and Ogun states as an example.

Read Also: Imo seeks partnership at #StartupSouth5 Uyo

Ms. Opeke continued:  “A tree can’t make a forest,”  adding: “It is important for other states and regions in Nigeria to take advantage of the opportunities the digital economy provides because only then will Nigeria be able to maximise her true potential and attain  prosperity for her citizens.”

In a keynote paper, titled: ‘Domesticating the digital Economy’, Founding Partner, InfoGraphics and former Manager, West Africa, Microsoft, Mr. Chinenenye Mba-Uzoukwu, advised the Southsouth and Southeast governors to pursue regional collaboration, saying this would help to open up the opportunities in the region.

Co-founder Paga, Jay Alabraba,  advised startups to focus on solving problems, assuring  that they would always get support. He  said Paga was glad to sponsor StartupSouth5 because of the importance of the project to the region and Nigeria.

The conference featured over 100 speakers in 60 sessions, which covered several areas, including business, technology, lifestyle, personal development, funding and policy.

Notable personalities that graced the event include former Cross River State Governor, Mrs Obioma Liyel Imoke; Senior Special Adviser to Edo State Governor on Job Creation, Ukinebo Dare;  and founder, Hotels.NG, Mark Essien.

The conference saw a pitch by KR Foods, a palm oil processing startup led by Amajuoyi Ikechukwu Kingsley and GreenBox, a modular solar-inverter box for powering SMEs led by Innocent Unachukwu.

KR Food won the N150,000 prize provided by Ibom LLC. The winner is having talks with members of the SSE Angel Network for  investment. The two teams will benefit from WhogoHost’s hosting as part of the prize.

The Nigeria Communication Commission (NCC) has assured telecom consumers that they would continue to get the right value for their cash.

It added that it would continue to address challenges in the industry.

Its Executive Vice Chairman/CEO, Prof. Umar Danbatta, who spoke at NCC Day at Lagos International Trade Fair Complex, Tafawa Balewa Square, said as the regulator of the industry, the Commission is aware of the huge responsibilities of safeguarding the interests of all the stakeholders.

Represented by the Commission’s Deputy Director, Consumer Affairs Bureau, Mr. Ismail Adedigba, he said the forum was specially organised to strategise with the consumers to seek and proffer solutions to various telecom issues confronting them.

Read Also: NCC to explore $70b telecoms market package

He said: “The NCC as the telecom regulator is aware that this feat of telecom being central to our daily life could not have been achieved without the consumers and as such identifies the Consumer as a very important stakeholder in the telecom industry.

“This is evident in the Eight Point Agenda  of the Commission where the empowerment and protection of the consumers from unfair practices through availability of information and education to make informed choices in the use of ICT services is emphasised.”

The EVC  said the NCC as a regulator has devised ways for subscribers to lodge complaints when you are dissatisfied with the services provided by your operator, and the Commission will also apply appropriate regulatory measures and sanctions against such service provider.

He said one of the issues affecting telecoms consumers which the Commission has proffered solution to is the issue of telemarketing, commonly known as unsolicited text message.

 

 

 

 Technology has become the answer to every life’s puzzle. From e-agric, e-ducation, e-governance, e-health, e-commerce to e-transfer of cash, it has destroyed fetters to distance. The future of the  industry lies in artificial intelligence, robotics and others. Internet of Things (IoT) appears to be the phenomenon that will redefine everything, writes LUCAS AJANAKU

 

The cash losses are frightening just as the needless fatalities.

Last week, the Nigeria Extractive Industries Transparency Initiative (NEITI) said crude oil and refined products valued at $41.9 billion have been stolen from the country in the last 10 years.

Its policy brief, titled: Stemming the increasing cost of oil theft to Nigeria, showed that $38.5billion was lost to crude, $1.56billion on domestic crude and $1.8billion on refined petroleum products between 2009 and last year.

In its June monthly report, state-run oil firm, the Nigerian National Petroleum Corporation (NNPC) said there was a 77per cent rise in oil pipeline vandalism. It experienced 106 pipeline breaches in June, up from just 60 in May.

Many of the breaches are points where thieves can siphon oil and either sell it illegally or refine it in so-called artisanal refineries that are often little more than drums boiling oil into rudimentary fuels.

In the power sector, the electricity distribution companies (DisCos) suffer huge losses to energy theft.

The energy sector is not the only sector suffering from losses, every other sectors of the economy suffer one loss or the other due to non-application of the requisite technology.

One technology that, however, promises to end these losses is the  Internet of Things (IoT).

The International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide said global spending on IoT is forecast to reach $745 billion this year, an increase of 15.4 per cent over the $646 billion spent last year.  IDC said global IoT spending will maintain a double-digit yearly growth rate throughout the 2017-2022 forecast period and surpass the $1 trillion mark in 2022.

The Chief Executive Officer,  IoT Africa, Lanre Ayoola, said his firm, an exclusive partner of Sigfox Nigeria, a French firm, will offer IoT solutions that will help to address all leakages in every facet of the economy.

Ayoola, who spoke in Lagos, said Sigfox’s solutions are low cost devices, with battery that will last for 10 years.

According to him, the devices were also not hackable and couldn’t be jammed except by a military equipment, stressing that the solutions give reliability and low maintenance cost. “You don’t have to attend to it for seven years,” he said, adding that he firm will cover the whole country in 24 months and create thousands brand new jobs

IoT solutions will take charge of production control, downtime by getting notification through phone to monitor what’s happening; what has happened and what will potentially happen.

He said the key to effective IoT is low power, stressing that Sigfox solutions are in 65 countries and many airports.

The cost of the solution ranges from between $15 and $25 with a four-year battery life.

Read Also: Biotechnology and national economic security

 

The solutions can be deployed in asset monitoring, smart buttons with over N100billion worth, smart parking, street lighting, smart manhole, street lighting, water metering, gas metering, electricity metering, among others.

With the electricity challenge ravaging the country, IoT solutions promise to safe 50 per cent of electricity

Also, Executive Director at IoT Africa, Melanie Ayoola, said the growth of businesses would be driven by IoT as it will not only accelerate business growth but also foster expansion through effective   management of overhead and promoting efficient resource allocation.

According to her, the risk-bearing industry will also benefit from IoT solutions as it will not only  minimises risk, it will maximise convenience.

“Sensors that can prevent fire accident are available to mitigate payment of claim on fire accident.

“IoT will drive customer service in the country. A study said by 2025, there will be $75billion devices in the world. This provides great opportunities for the country,” she said, adding that long-term planning can be achieved by the government through IoT solutions.

For the Chief Operating Officer (COO), Adewale Saka, IoT saves lives and helps logistics companies to track their containers, and parcels while the firms and owners of the cargoes are able to monitor where they’re until they get to the where they are supposed to be delivered.

In the agricultural sector, cattle rustling has become criminal. He said with IoT solutions, hereders would be able to determine the whereabouts and health of the herd leading to reduction in losses.

“Pipeline monitoring is great challenge. IoT solutions will help to determine the environmental condition of the pipelines, breaches. DisCos are deploying prepaid meters. But if the feeder pillar of transformer goes down, they will not know. IoT solutions have been designed to take care of information about this.Though data analytics IoT will allow you to be proactive nd tackle energy theft,” he said.