The Nation Newspaper

Category: Technology

Pioneering Advanced Geospatial Techniques for Global Agricultural Monitoring
Introduction:
Nigeria, like many nations, faces significant challenges in agricultural productivity and environmental sustainability. These issues underscore the urgent need for innovative approaches to crop monitoring, soil management, and nutrient distribution. A groundbreaking study has developed cutting-edge methods for tracking crop health and soil nutrients on a global scale, with profound implications for improving food security both in Nigeria and worldwide.

Revolutionizing Agricultural Monitoring:
Published in the prestigious Journal of Geovisualization and Spatial Analysis and presented at numerous conferences around the world, this research integrates multiple types of satellite imagery, soil data, and advanced computational techniques. The result is an unprecedented ability to gain insights into crop growth and soil health across vast regions.

Key Innovations:
- Real-time Monitoring: By integrating daily satellite observations with soil databases and environmental data, agricultural systems can now be monitored across entire states or countries in near real-time.
- Crop Differentiation: The new techniques distinguish between different crop types from space and track their growth patterns throughout the growing season.
- Soil Health Analysis and Hydrology: Advanced analysis of soil nitrogen and organic carbon content patterns plays a crucial role in identifying areas where soil fertility may be limiting crop growth. By examining these nutrient levels, we can pinpoint regions requiring targeted soil management practices to enhance productivity. Additionally, monitoring nutrient levels in water sources helps assess the impact of agricultural runoff on local water quality and informs sustainable irrigation practices.
From Global to Local: Implications for Nigerian Agriculture:
While initially focusing on major agricultural states in the United States, the techniques developed have global applications, particularly for Nigerian agriculture. The research utilized data from NASA’s MODIS (Moderate Resolution Imaging Spectroradiometer) satellite, soil surveys, and hydrological information to create comprehensive maps of crop health and soil nutrient content.

Implications for Nigerian Agriculture:
- Optimized Farming Practices: Monitoring crop development day by day could help Nigerian farmers optimize planting times and improve crop management for staples such as cassava, yam, and maize.
- Targeted Fertilizer Application: Detailed soil nutrient mapping could revolutionize fertilizer use, reducing costs for farmers while minimizing environmental impacts in Nigeria’s diverse agro-ecological zones.
- Water Resource Management: Integration of hydrological data with crop and soil information allows for tracking how agricultural practices impact water resources, crucial for regions facing water scarcity, such as the arid north.
Nigeria’s Agricultural Landscape:
Nigeria’s agricultural sector, which contributes about 22% to the country’s GDP, faces challenges such as low crop yields, soil degradation, and the impacts of climate change. This research comes at a critical time when innovative solutions are needed to boost food production for Nigeria’s growing population, expected to reach 400 million by 2050.

International Recognition:
The groundbreaking nature of this work has garnered significant attention within the scientific community. Highlights include key speaker presentations at some well-meaning international conferences around the world – Portugal, Nigeria, and Japan as well as invitations to other countries including Canada, the United Kingdom, Netherlands among others. Notable national recognition includes a First Place Award at the prestigious National Science Foundation (NSF) Engineering Research Center (ERC) Center for Advancing Sustainable and Distributed Fertilizer Production (CASFER) Annual Symposium and the African Community Association Award for excellent African students in Northeast Ohio, United States. Additionally, collaborations with reputable teams and stakeholders from some of the US research hub and environmental regulatory bodies – the National Laboratories and the Environmental Protection Agency (EPA) further underscored the impact and significance of this research.

Challenges and Future Prospects:
Implementing these advanced monitoring techniques in Nigeria requires substantial investment in technology and training:
- Building capacity in remote sensing and data analysis among Nigerian agricultural researchers and extension workers.
- Improving satellite data infrastructure to cover Nigeria’s diverse ecological zones.
- Training personnel in the use of advanced geospatial tools, particularly in rural areas where they’re most needed.
However, the potential benefits for Nigeria’s agricultural sector are immense. As the country navigates feeding a growing population of over 200 million and adapting to climate change, these innovative approaches could play a crucial role in ensuring food security and promoting sustainable agricultural development.

Conclusion:
By harnessing satellite technology and advanced data analysis, Nigerian farmers and policymakers will have powerful new tools at their disposal to boost crop yields, improve soil health, and manage water resources more effectively. As we continue to develop and refine these techniques and build predictive models for nutrient distribution, the goal remains clear: to contribute meaningfully to global food security and sustainable agricultural practices, with a focus on addressing the unique challenges faced by the nations across the world.

About the Author:
Olatunde David Akanbi is a Nigerian researcher pursuing a Ph.D. in Materials Science and Engineering at Case Western Reserve University (CWRU) in the United States. His research focuses on integrating geospatial data for agricultural and environmental applications. Akanbi has received several accolades, including a First Place Award at the NSF ERC CASFER Annual Symposium. He is also involved in mentoring students, promoting STEM education, and supporting cloud infrastructure operations for 14 countries under the Deeper Christian Life Ministry as a certified AWS Solution Architect. He is scheduled to present his latest findings at the upcoming International Geostatistics Congress in Ponta Delgada, Azores – Portugal, further cementing the relevance of this research for the world’s agricultural future.

https://osf.io/z6cvh/wiki/home

https://link.springer.com/article/10.1007/s41651-023-00164-y
June 27, 2024
Nickelodeon plans new shows, marathons, slime in July non-stop entertainment

July sizzling with excitement at Nickelodeon, which has secured brand new shows, epic adventures, and a birthday bash for SpongeBob SquarePants that’ll keep the audience glued to their screens.

The fantastic shows coming viewers’ way include Transformers Earthspark: The Race for the Emberstone. Here, viewers are to rev their engines because the Autobots and Terrans are back! One year after their epic battle, they’re racing against the Decepticons to collect the shards of the Emberstone before chaos erupts.

Check out what these intelligent robots are up to every weekend from Saturday, 6 July till Sunday, 4 August, at 10:00 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.

The SpongeBob’s 25th Birthday Marathon

Who lives in a pineapple under the sea and is celebrating a big milestone? That’s right—SpongeBob SquarePants! Celebrate SpongeBob’s monumental 25th birthday anniversary with a marathon of his funniest party episodes!

Tune in on Sunday, 14 July, at 11:00 WAT to catch the episodes on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.

Kids’ Choice Awards 2024

Get ready for the slimiest, most star-studded event of the year! The Kids’ Choice Awards are back, and it’s going to be a good time.

Don’t miss the premiere on Wednesday, 17 July, at 16:00 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.

Catch the encore on Thursday, 18 July, at 09:35 WAT and on Saturday, 20 July, at 08:00 WAT.

SpongeBob SquarePants

Join SpongeBob, Patrick, and the rest of the Bikini Bottom gang on brand-new adventures that will make you laugh your socks off! Watch every weekday from Monday, 22 July to Friday, 2 August at 14:00 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.

Nick Jr. The Adventures of Paddington

Everyone’s favourite bear is back with more heartwarming and fun-filled adventures. Whether he’s off to the seaside or welcoming a special visitor from Peru, Paddington is sure to delight viewers of all ages.

Tune in every weekday from Monday, 1 July to Friday, 12 July, at 01:25 WAT, 05:50 WAT, 13:25 WAT, and 18:10 WAT on Nick Jr. Channel 307 on DStv and Channel 81 on GOtv.

PAW Patrol Squads

Buckle up for some pawsome rescues! Join the PAW Patrol team as they embark on special missions. Whether it’s Aqua Pups, Big Truck, Ultimate Rescue, or Mighty Pups, these three weeks will be filled with action-packed adventures. Tune in every weekday from Monday, 15 July to Friday, 2 August, at 04:00 WAT, 06:50 WAT, 11:45 WAT, 16:00 WAT, 18:50 WAT, and 23:45 WAT on Nick Jr. Channel 307 on DStv and Channel 81 on GOtv.

NickToons

Shark Dog

Max has an unlikely pet, Sharkdog, who’s part shark, part dog. At first, Max tries to keep Sharkdog a secret, but in Foggy Springs, best friends, nosy neighbours, and even Max’s parents are bound to notice his new, rambunctious best friend.

Don’t miss the fun! Catch new episodes every weekday from Monday, 1 July, to Friday, 26 July, at 16:30 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

Transformers Earthspark

One year later, the Autobots and Terrans are in a high-stakes race against the Decepticons to collect the shards of the Emberstone. As mysteries buried beneath their sleepy town threaten to resurface and cause chaos, the battle intensifies.

Catch the premiere every weekend from Saturday, 6 July, to Sunday, 4 August, at 10:30 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

Don’t miss out on daily episodes from the previous season, with new episodes included every weekday from Monday, 22 July to Friday, 6 September at 10:30 WAT.

SpongeBob’s 25th Birthday Marathon

He’s lived under the sea for a quarter-century, and the fun isn’t stopping anytime soon! Join NickToons for a special marathon celebrating SpongeBob SquarePants’ 25th birthday anniversary.

Watch the marathon on Sunday, 14 July, at 12:00 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

NickeIodeon Kids’ Choice Awards 2024

Who will win the coveted orange blimps at this year’s Nickelodeon Kids’ Choice Awards? Will it be your favourite singer, actor, or influencer? The suspense is overwhelming! Ladies and gentlemen, the wait is almost over. It’s time to find out!

Mark your calendars because Wednesday, 17 July , will be epic. The show airs at 14:00 WAT on NickToons, Channel 308 on DStv, and Channel 86 on GOtv.

Catch the repeat broadcasts on Thursday, 18 July, and Sunday, 21 July on NickToons Channel 308 on DStv and Channel 86 on GOtv at 10:30 WAT and 11:00 WAT.

SpongeBob SquarePants

The laughter never stops with SpongeBob SquarePants – and we’ve got you covered with even more exciting episodes!

Tune in to see what other shenanigans our favourite sea sponge gets into every weekday from Monday, 22 July till Friday, 2 August, at 16:30 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

June 27, 2024
Auto content platform unveils new logo, brand identity

In a groundbreaking move, 234Drive has unveiled its new logo and brand identity alongside the debut of its revamped website.

Founded in 2021 with a mission to simplify automobile knowledge for consumers, 234Drive has evolved into the go-to source for automotive expertise across the continent.

The company is Africa’s foremost automotive platform with its headquarters in Lagos, dedicated to empowering consumers with comprehensive automotive and mobility knowledge through engaging content and innovative solutions.

The rebranding initiative marks a significant milestone in its journey of growth and expansion. With an expanded focus on becoming a comprehensive mobility hub, the platform now offers a full-service network catering not only to automotive enthusiasts but also to those interested in all facets of mobility.

Read Also: Lagos unveils council, commits N1bn seed fund

“We are thrilled to introduce our new brand identity and website as part of our strategic expansion into full mobility solutions,” said John Adewusi, Founder of 234Drive. “This rebranding reflects our commitment to evolving alongside the needs of our audience, moving beyond automotive content to encompass everything related to mobility.”

234Drive’s dedication to excellence and innovation has garnered widespread acclaim, recently earning recognition as one of the YouTube Black Creators globally.

The new brand identity, featuring a transition from orange and black to black, green, and white, symbolizes strength, efficiency, and freshness in serving consumers across Africa.

June 24, 2024
Building Resilient Technology Solutions and Infrastructure: Investigating the Impact of the Recent Undersea Submarine Fiber Cable Outage
On March 10, 2024, Nigerians and other neighboring African countries experienced a major disruption in internet connectivity, highlighting our digital infrastructure’s fragility. An undersea cable outage near Abidjan, Côte d’Ivoire plunged several African countries into an internet blackout, crippling businesses, banks, and daily transactions. For nearly two months, the outage remained unresolved. However, most providers managed the incident reactively by switching to another provider whose infrastructure was unaffected.

Some submarine cable providers took about seven weeks to fully restore service, exposing significant weaknesses in our technology infrastructure resilience. This outage affected submarine cable providers, businesses, and large organizations in Nigeria and across West Africa, causing substantial economic harm. It underscores the urgent need to reassess and enhance the resiliency and efficiency of our technology infrastructure.

This piece addresses four major concerns: inefficient technology solutions, lack of resiliency, absence of redundancy, Inadequate business continuity measures, and need for local Web and cloud hosting infrastructure.

There are currently eight submarine cables in Nigeria, each varying in length, capacity, landing points, and tributaries.

The MainOne submarine cable system:

The MainOne submarine cable system, operational since 2010, spans 7,000 km and connects Nigeria to Portugal and other West African countries. It has landing points in Lagos, Accra, Seixal, Senegal, and Ivory Coast, and provides high-speed bandwidth. Interconnected with other international cables, it offers enhanced global reach and has potential expansion units for Morocco and the Canary Islands. The system was supplied by Alcatel-Lucent.

The SAT-3/WASC (South Atlantic 3/West Africa Submarine Cable):

The SAT-3/WASC (South Atlantic 3/West Africa Submarine Cable), operational since 2001, spans 14,350 km and connects Portugal to South Africa with stops along the West African coast. Supplied by Alcatel Submarine Networks, it has a design capacity of 340 Gbit/s. Landing points include Portugal, Spain, Senegal, Ivory Coast, Ghana, Benin, Nigeria, Cameroon, Gabon, Angola, and South Africa. Part of the larger SAT-3/WASC/SAFE system, it provides crucial links between Europe, Africa, and Asia.

The Glo-1 submarine cable:

The Glo-1 submarine cable, owned by Globacom and supplied by Alcatel-Lucent, extends along the West African coast to the UK. It spans approximately 9,800 km and started operations in 2011 with an initial capacity of 640 Gbit/s, later upgraded to 2.5 Tbit/s. Its landing points are in Lagos (Nigeria), Accra (Ghana), Dakar (Senegal), Nouakchott (Mauritania), Casablanca (Morocco), Sesimbra (Portugal), Vigo (Spain), and Bude (UK). Glo-1 improves connectivity among these countries.

The Africa Coast to Europe (ACE) submarine cable system:

The Africa Coast to Europe (ACE) submarine cable system, supplied by Alcatel-Lucent, stretches around 17,000 km, linking multiple West African countries to Europe. It has been operational since 2012 and was expanded in 2021, with a design capacity of 20 Tbps. Its landing points include France, Portugal, the Canary Islands (Spain), Mauritania, Senegal, Gambia, Guinea, Sierra Leone, Liberia, Ivory Coast, Benin, Ghana, Nigeria, Equatorial Guinea, Gabon, São Tomé and Príncipe, Mali, Niger, and South Africa. The ACE cable, the first international submarine cable to land in several of these countries, greatly improves connectivity and economic development in the region.

West Africa Cable System (WACS)

The West Africa Cable System (WACS), supplied by Alcatel-Lucent and NEC Corporation, connects South Africa to the UK with several landing points along the West African coast. Completed in 2012, it spans approximately 14,500 km with a design capacity of 14.5 Tbit/s and a currently lit capacity of 500 Gbit/s. Its landing points include Yzerfontein (South Africa), Swakopmund (Namibia), Sangano (Angola), Muanda (Democratic Republic of Congo), Matombi (Republic of Congo), Limbe (Cameroon), Lekki (Nigeria), Afidenyigba (Togo), Nungua (Ghana), Abidjan (Ivory Coast), Palmarejo (Cape Verde), Telde (Canary Islands), Sesimbra (Portugal), and Brean (UK).

Equiano Submarine Cable

Funded by Google and supplied by Alcatel Submarine Networks, the Equiano submarine cable spans over 12,000 km, connecting Portugal to South Africa. With landing points in Lagos (Nigeria), Lomé (Togo), St. Helena, Swakopmund (Namibia), and Melkbosstrand (South Africa), it began operations in 2022. Named after Olaudah Equiano, the cable aims to improve connectivity and digital services across Africa, incorporating advanced optical switching technology for enhanced capacity and flexibility.

2Africa Submarine Cable

The 2Africa submarine cable, supplied by Alcatel Submarine Networks, is one of the world’s longest subsea cables at 45,000 km. It connects Nigeria, with landing points in Lagos State and Akwa Ibom State, to 32 other African countries, as well as parts of Europe and Asia. Operational from 2023, the cable has significantly boosted internet access and connectivity across these regions. The 2Africa consortium includes major telecommunications companies, supporting economic development across connected continents.

Nigeria Cameroon Submarine Cable System (NCSCS)

Supplied by Huawei Marine, the Nigeria Cameroon Submarine Cable System (NCSCS) connects Kribi in Cameroon to Lagos in Nigeria. Spanning approximately 1,100 km, it has been operational since 2016 with a capacity of 12.8 Tbps. Owned by Cameroon Telecommunications Corporation (CAMTEL), NCSCS enhances connectivity between Nigeria and Cameroon, contributing to regional digital infrastructure. Through a partnership with MainOne, NCSCS extends connectivity to Europe and other West African countries, playing a crucial role in the region’s digital transformation efforts.

The first challenge revealed by recent issues is the “inefficient technology solution.” This inefficiency became clear when customers of Nigerian banks couldn’t complete transactions with businesses in Nigeria during a fiber cut. For example, a GTB account holder was unable to make a TSA payment. The problem arises because many customers use Visa or Mastercard, which involves multiple international connections. When a transaction is initiated, the system connects first to the card issuer’s database outside Nigeria, then back to the customer’s Nigerian bank to verify the balance, and finally returns to the card issuer for approval. This round-trip process exacerbates connectivity issues, especially during disruptions.

Disruption to financial transaction during submarine fiber cut: A mini survey was carried out to understand the impact of the submarine fiber cut especially on the financial sector of Nigeria. The below shows the outcome of the responses received

Issues Highlighted by the Submarine Fiber Cut Incident and its attendant impact on financial sector
1. Inefficient Technology Solution:
  - Problem: Despite all entities involved in a transaction being in Nigeria, the transaction flow goes outside the country to Visa or Mastercard systems. When the submarine fiber cable was cut, communication between banks and card-switching companies was disrupted, preventing transaction completion.
  - Solution: Mastercard and Visa should establish their card-switching infrastructure in Nigeria to keep local transactions within the country. This would ensure local transactions are unaffected by international disruptions, minimizing the impact on customers.
2. Poor Design and Implementation:
  - Problem: Local cards (e.g., Verve) issued by Nigerian banks and switched by local companies should not be affected by submarine cable cuts, yet some transactions still failed. This suggests flaws in the design or implementation between banks and card-switching companies.
  - Solution: Banks and card-switching companies need to review and correct their technical designs and implementations to prevent such issues. Ensuring proper local configurations will maintain transaction flow even during international disruptions.
3. Lack of Resilience and Redundancy:
  - Problem: Submarine fiber cable providers lack sufficient resilience and redundancy. Most providers follow the same path, leading to widespread impact when disruptions occur.
  - Solution: Providers should collaborate to share capacity, creating mutual support and redundancy. Additionally, exploring diverse routing paths for submarine cables will enhance resilience and reduce the risk of widespread service disruptions.
4. Inadequate Business Continuity Measures:
  - Problem: Some financial institutions failed to maintain critical services during the outage.
  - Solution: Businesses should reassess their Business Continuity Plans (BCP), understand their providers’ resilience levels, and implement redundancy measures such as satellite communication systems to ensure critical services remain operational during disruptions.
5. Need for local Web and cloud hosting infrastructure.
6. Problem: Currently, payment apps and web payment systems are hosted on clouds and data centers outside Nigeria. This means that every transaction must first communicate with the host, requiring data to pass through submarine cables, which can cause delays and vulnerabilities.
7. Solution: The government should create an enabling environment that incentivizes cloud and data center companies to establish more infrastructure within Nigeria. Additionally, financial institutions, businesses, and organizations should prioritize using local web hosting and cloud services companies for hosting their web services and payment apps.
These solutions aim to improve local transaction processing, strengthen technical design and implementation, enhance redundancy and resilience of infrastructure, and ensure robust business continuity measures.

In conclusion, the private and public sectors in Nigeria need to collaboratively revamp our communication infrastructure. By hosting servers within Nigeria and ensuring local transactions stay local, we can build a more robust and reliable system. Redundancy is not just a buzzword; it’s a necessity. Diversifying submarine fiber cable routes and creating multiple, independent pathways for data can prevent a single point of failure from causing widespread chaos. Submarine cable providers need to synergize. Businesses and institutions should put redundancy in place to ensure the continuity of critical business functions.

Abimbola is a thought leader and expert in technology solutions and infrastructure deployment in Africa. With over two decades of industry experience, he holds several industry certifications from organizations such as PMI USA, ISC2 USA, Cisco USA, Scrum Alliance, and Alcatel-Lucent. He is also a fellow of Institute of Management Consultant, member of the Nigerian Society of Engineers, ISACA, ISC2 and the Institute of Electrical and Electronic Engineers, United States.

Abimbola. A. OGUNJINMI (FIMC,MNSE, MIEEE, PMP, PSM).
June 24, 2024
How technology transformed modeling and forecasting for stress testing

Mr Anjola Odunaike, a risk management and compliance expert, speaks with OLUKOREDE YISHAU on technology-driven evolution of modeling and forecasting for stress testing. Excerpts:

With over a decade of experience in risk management and compliance, you’ve witnessed many changes in the financial services industry. Let’s dive straight into today’s topic: How has technology transformed modeling and forecasting for stress testing?

It’s an exciting time to discuss this topic because the evolution of technology has had a profound impact on how we approach modeling and forecasting for stress testing. Traditionally, stress testing relied on static models that used historical data and assumptions to evaluate financial stability under adverse scenarios. Today, with advancements in machine learning, artificial intelligence (AI), and big data analytics, we’ve moved to dynamic, predictive, and real-time frameworks. This shift has improved accuracy, adaptability, and efficiency while enabling financial institutions to identify and mitigate risks much earlier.

That’s fascinating. Could you elaborate on how these technologies improve the stress-testing process?

Certainly. One of the biggest improvements is the ability to process and analyze vast amounts of data in real time. For example, machine learning models can incorporate structured and unstructured data—such as transactional records, macroeconomic indicators, and even social media sentiment—to identify risk patterns and predict stress scenarios with greater precision.

Moreover, AI and machine learning algorithms allow us to create adaptive models. Unlike traditional models, which need manual recalibration, adaptive models can learn from new data and adjust in real time. This capability is especially useful in highly volatile markets or when new risk factors, such as a global pandemic, emerge.

Cloud computing has also been a game-changer. With cloud platforms, institutions can scale their computing resources up or down, enabling faster processing of complex simulations. This flexibility is critical for complying with regulatory requirements like the Dodd-Frank Act Stress Test (DFAST) and Comprehensive Capital Analysis and Review (CCAR), which demand highly detailed stress-testing scenarios.

You mentioned regulatory requirements. How has technology influenced compliance in stress testing?

Technology has streamlined compliance in several ways. First, automation reduces human error, which is crucial when dealing with complex regulatory standards. For example, technologies like robotic process automation (RPA) can handle repetitive tasks such as data validation and reporting, freeing up time for risk managers to focus on strategic decision-making.

Second, advanced analytics enable institutions to maintain transparency and traceability. Regulators often require a clear explanation of how stress-testing models generate results. With tools like Python and Tableau, institutions can create interactive dashboards and detailed reports that make the modeling process more transparent. These tools also support audit trails, ensuring that every input and output can be tracked and justified.

Finally, technology helps institutions meet the increasing demand for scenario diversity. Modern stress-testing platforms can quickly simulate multiple adverse scenarios, ranging from economic downturns to geopolitical events, and assess their impact on financial health. This capability not only ensures regulatory compliance but also enhances resilience planning.

It’s clear that technology has improved efficiency and accuracy, but what about the risks? Are there potential downsides to relying heavily on these advanced technologies?

That’s an important question. While these technologies offer significant benefits, they also introduce new risks. For example, machine learning models can sometimes act as “black boxes,” meaning their decision-making processes aren’t always interpretable. This lack of transparency can be problematic when explaining results to regulators or stakeholders.

Another challenge is data quality. Advanced models are only as good as the data they’re trained on. Inconsistent or incomplete data can lead to inaccurate forecasts, undermining the entire stress-testing process. Data governance frameworks are therefore critical to ensure data integrity and consistency.

Cybersecurity is another major concern. As financial institutions rely more on cloud platforms and data-sharing technologies, they become more vulnerable to cyberattacks. A breach could compromise sensitive information and erode stakeholder trust.

To mitigate these risks, organizations must adopt robust governance frameworks, invest in cybersecurity measures, and focus on model interpretability. These precautions ensure that technology serves as an enabler rather than a liability.

You’ve touched on the importance of governance and security. How do you see the role of leadership evolving in this technology-driven landscape?

Leadership plays a pivotal role in navigating the complexities of technology-driven stress testing. Leaders must adopt a forward-thinking mindset and foster a culture of innovation while ensuring ethical and responsible use of technology.

One key aspect is cross-functional collaboration. Risk management, IT, and compliance teams must work together to align technological capabilities with organizational goals. Leaders should facilitate this collaboration by breaking down silos and encouraging open communication.

Another critical responsibility is upskilling the workforce. As technology evolves, so do the skills required to operate it. Leaders must invest in continuous training programs to ensure their teams are proficient in using advanced tools and methodologies. They should also emphasize the importance of soft skills, such as critical thinking and adaptability, which are essential for interpreting and acting on model outputs.

Lastly, leaders must focus on ethical considerations. With the growing use of AI and machine learning, issues such as algorithmic bias and data privacy are coming to the forefront. Leaders have a responsibility to ensure that their organizations’ technologies are fair, transparent, and compliant with ethical standards.

What do you think the future holds for modeling and forecasting in stress testing? Are there any emerging technologies we should keep an eye on?

The future is incredibly promising. One emerging technology to watch is quantum computing. While still in its early stages, quantum computing has the potential to revolutionize stress testing by solving complex optimization problems at unprecedented speeds. This capability could enable institutions to run thousands of scenarios simultaneously, providing deeper insights into risk exposures.

Another exciting development is the integration of natural language processing (NLP) into risk management. NLP can analyze unstructured data, such as regulatory documents and news articles, to identify emerging risks and enhance scenario planning. For example, an NLP-powered system could scan global news for signs of geopolitical instability and incorporate those insights into stress-testing models.

Blockchain is also worth mentioning. Its ability to create secure, transparent, and tamper-proof data records can enhance data governance and auditability in stress testing. This technology could help institutions maintain data integrity while reducing the risk of fraud.

As these technologies mature, I expect stress testing to become even more predictive and proactive. Instead of merely reacting to adverse events, institutions will be able to anticipate and prepare for them, ensuring greater financial stability.

It’s inspiring to hear about these advancements. Before we wrap up, do you have any advice for organizations looking to leverage technology for stress testing?

My advice is to take a holistic approach. Technology is a powerful tool, but it must be integrated thoughtfully into existing processes. Start by assessing your organization’s specific needs and identifying gaps in your current stress-testing framework. Then, invest in technologies that align with your strategic objectives.

It’s also crucial to prioritize data governance. High-quality data is the foundation of effective modeling and forecasting. Establish clear protocols for data collection, storage, and validation to ensure consistency and reliability.

Finally, don’t underestimate the importance of human expertise. While technology can automate many aspects of stress testing, human judgment is still essential for interpreting results and making strategic decisions. Encourage collaboration between data scientists, risk managers, and compliance officers to create a balanced and effective approach.

Thank you, Mr. Odunaike, for sharing your insights. It’s clear that technology is not only transforming stress testing but also shaping the future of risk management as a whole. We appreciate your time and expertise.

Thank you. It’s been a pleasure discussing this important topic with you. I’m excited to see how technology continues to drive innovation in our industry.

June 24, 2024
Mastercard foundation reaffirms commitment to empowering EdTech In Africa

The Mastercard Foundation has emphasised its unwavering commitment to the growth and development of EdTech companies across Africa.

The Director of the Centre for Innovative Teaching and Learning (CITL), Mastercard Foundation, Joseph Nsengimana, outlined the Foundation’s strategic approach to supporting African EdTech ventures beyond initial funding phases, ensuring they can achieve sustained growth and increased impact.

Nsengimana highlighted the Foundation’s partnerships with tech hubs across the continent, which are designed to identify and nurture high-potential EdTech solutions.

“Our goal is to create a robust ecosystem where EdTech companies can thrive, reach more learners, and significantly enhance educational outcomes,” he stated.

The event also featured a panel, which included Nissi Madu, Managing Partner at the Co-creation Hub Limited in Nigeria, Solomon Twum, EdTech Advisor, Reach for Change in Ethiopia, and Jumanne Mtambalike, CEO of Sahara Consult in Tanzania.

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They stressed the importance of collaborative efforts within the education technology sector in Africa. They showcased successful partnerships, such as Loho Learning and Angaza Elimu, which combine content expertise with personalized learning frameworks to create impactful educational tools.

They noted that partnerships are crucial for expanding reach and making EdTech solutions more affordable, partnerships with telecom companies were discussed, with Kalamu’s collaboration in Kenya serving as a prime example.

The panelists also underscored the importance of equipping teachers with valuable tools and resources through strategic collaborations, such as the one between Edutams, Skula Skula, and Cory AI, which provides AI-powered assistants to enhance classroom learning.

Nsengimana and the Mastercard Foundation also announced the Foundation’s upcoming EdTech conference happening in Abuja, Nigeria from July 8-10, noting that it will bring together entrepreneurs, policymakers, investors, and educators to co-create the future of EdTech in Africa.

The conference, which will gather about 600 delegates from across Africa, will focus on aligning on a shared vision for EdTech in Africa and discussing actionable steps to overcome challenges and leverage opportunities.

June 23, 2024
How I transform new era brand, media strategy with AI, digital innovation – Linda Ogbonye

Linda Ogbonye, a foremost expert in brand and media strategy, is transforming the industry by leveraging artificial intelligence (AI), data analytics, and advanced communication technologies.

With a decade of experience, Ogbonye is revolutionizing how brands connect with their audiences in the digital age.

Her ability to blend creativity with data-driven insights has enabled her clients to thrive in a competitive market while adhering to high environmental, social, and governance (ESG) standards.

Throughout her career, Ogbonye has worked on campaigns for some of Africa’s top brands.

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She has managed social media for Nigeria’s first indigenous telecommunications brand, Globacom Limited, led the experiential marketing campaign for Nigeria’s first electric car, Hyundai Kona, and worked with leading brands like Stallion Bajaj, Dettol Cool, and Lafarge.

Additionally, she has collaborated with prominent figures in the entertainment industry, including Nigeria’s leading actress Mercy Johnson, and on films such as “4th Republic” and “Legend of Inikpi.”

Her unique blend of creativity and data-driven insights helps businesses—from global corporations to emerging startups—achieve outstanding results.

At the core of Ogbonye’s success is her innovative use of AI and data analytics to develop and refine brand strategies. By analyzing vast amounts of data, she identifies trends, anticipates market shifts, and crafts personalized campaigns that deeply resonate with target audiences.

Advanced algorithms enable her to optimize campaigns and enhance digital insights for better decision-making.

“AI and data aren’t just tools; they’re game-changers in modern marketing,” Ogbonye says.

“They give us unparalleled insights into consumer behavior, allowing us to create campaigns that truly connect. Combine that with a focus on pushing ESG principles, and your brand is set to soar.”

Ogbonye’s expertise extends beyond data; she’s also a master storyteller.

She crafts engaging content that helps brands establish a strong presence across various platforms, from social media to digital advertising and traditional media.

Her holistic approach ensures that each brand’s story aligns with its values and objectives, fostering genuine connections with audiences.

In today’s digital world, a robust online presence is essential. Ogbonye’s digital marketing strategies are designed to maximize visibility and engagement. From SEO and content.

June 19, 2024
Canva verified expert Akinfenwa’s maiden canva community lab excites, empowers users

IN the first of its kind, Canva Verified Expert, Ayodotun Akinfenwa, recently hosted the first Nigerian edition of the Global Canva Community Labs in Lagos.

The event saw Canva users from all walks of life gather at the Art Hotel in Victoria Island, Lagos for what promised to be an eye opening and engaging activity.

This event, which was also held in various countries worldwide, including the UK, Malaysia, Brazil, Australia, Spain, India, Turkey, France, Mexico, Poland, Argentina and others, was part of the Canva Create Community Labs series, created to coincide with the third edition of the annual Canva Create event in Los Angeles.

The purpose was to introduce the latest features and tools to empower users globally. These local community events, led by Canva staff, experts and other ambassadors, engaged Canva enthusiasts worldwide between May and June.

Launched in 2013, Canva is an online design and publishing tool with over 185 million monthly users and over 25 billion designs created since launch.

The Canva mission is to empower the world to design, and publish effortlessly. While commonly associated with small businesses, Canva caters to a broad spectrum, including global teams, enterprises, educators, students, and non-profit organisations.

Recognising its international reach, Canva enlisted some of its 50 verified experts and ambassadors to host small Community Labs in their home countries.

These events offered networking opportunities, insights into new tools, and guidance on leveraging Canva for personal, professional and business endeavours. Nigeria and Ghana represented the African continent on this initiative.

Surpassing expectations, over 100 Canva enthusiasts convened at the Art Hotel, Lagos, Nigeria to explore the new Glow up interface Magic AI Tools, New Work kits, Collaboration tools, and Courses feature, among others. Attendees engaged in learning sessions and enjoyed team projects, presentations, games, and Canva “Merch” giveaways.

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The success of the Nigerian edition of the Global Canva Community Labs showcased the growing influence and reach of Canva in Africa. The event buzzed with excitement as participants dived into hands-on workshops and interactive sessions that highlighted the practical applications of Canva’s new features.

The Magic AI Tools, for instance, fascinated many with their ability to streamline design processes, while the New Work kits provided innovative templates and resources that sparked creativity among attendees.

In addition to the learning opportunities, the event emphasized the importance of community and collaboration. Attendees formed small groups to tackle creative challenges, fostering teamwork and the exchange of ideas. These activities were not only educational but also built lasting connections among participants, many of whom expressed eagerness to continue collaborating beyond the event.

Speaking at the event, Ayodotun said: “Hosting this event in Nigeria was a fantastic opportunity to unite our talented creatives and professionals who utilise Canva for personal and business branding. The event fostered learning, camaraderie and mutual support among attendees from diverse backgrounds.

“With the positive feedback and the overwhelming turnout, it’s clear that the Canva Community Labs has struck a chord with Nigerian users, setting the stage for more vibrant and connected communities of creatives and professionals.

“Whether you’re a seasoned designer or a newcomer eager to learn, the Canva community offers resources and opportunities to help you grow and succeed. This empowerment of individuals and small businesses is particularly significant in African regions, where digital tools can drive innovation and economic growth.”

Ayodotun, a brand, marketing, and communications consultant, works as the Global Head of Communications at The Elevation Church and is one of the two Canva Experts from Nigeria.

Her extensive experience includes training businesses, SMEs and corporate staff since 2017 in Strategic Marketing, Branding, Content Strategy, and Content Marketing, having impacted over 13,000 individuals to date.

June 17, 2024
SportyBet increases max pay out to N100m

In a ground-breaking development within the betting industry, SportyBet has unveiled a series of innovative updates to solidify its position as a leader in the field.

SportyBet increased its maximum payout to NGN 100 million – the highest in Nigeria. This means that users now have the opportunity to win bigger than ever before.

“At SportyBet, we understand that timely payouts are of the essence when it comes to betting,” said a spokesman at SportyBet.

“That’s why we’ve optimised our payout process again to ensure that our users receive their winnings faster than ever before.

“We believe in fair play and ensuring that every winner gets paid promptly, regardless of the amount,” he continued. “Our commitment to fast and reliable payouts is unwavering,” the spokesman added.

To demonstrate this commitment, SportyBet highlights two recent examples of astonishing payouts.

In the first one, a bettor staked N10 million on a 9-fold combo bet and walked away with an incredible N 65,405,172 in winnings. SportyBet ensured the massive sum was paid out immediately, reaffirming its reputation as the fastest in the business.

In another astonishing instance, a bettor placed N 220,000 on a flexible bet and won an unbelievable N 71,626,082. SportyBet wasted no time in transferring the winnings, demonstrating its commitment to delivering fast and reliable payouts.

Adding to the roster of jaw-dropping wins, a bettor invested N5, 000 in a 7-fold combo and struck gold with a whopping N44,677,490 in winnings.

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These examples underscore SportyBet’s unparalleled dedication to its users: when you win big, you get paid big – and fast.

But SportyBet’s dedication to excellence extends far beyond just payouts.

The platform remains at the forefront of innovation, constantly seeking new ways to elevate the user experience.

From intuitive interfaces to cutting-edge betting options, SportyBet continues to lead the way as the most visited platform in the world, providing unmatched service to its users

June 13, 2024
NGO trains journalists, others on fact-checking, digital autonomy

A non governmental organization, the Centre for Media and Society (CEMESO) has trained journalists, online actors, human rights defenders and content creators on digital literacy, fact-checking and digital resilience.

The participants, at a step down training centered in digital autonomy and resilience; enhancing accuracy and reliability of information, which held in Ikeja, Lagos, were charged to fight misinformation, identify credible sources, fact-checking techniques and building digital resilience.

Executive director of CEMESO, Dr. Akin Akingbulu, in his remark, urged the participants to shun misinformation and disinformation, as these would threaten the credibility of democratic systems and endanger the rights of the citizens of making informed decisions.

“In our digital age, where information spreads rapidly and easily, false narratives can sway public opinion, distort political discourse, and manipulate electoral processes. These phenomena threaten the credibility of democratic systems and endanger the fundamental rights of citizens to make informed decisions,” he noted.

CEMESO Programme Manager, Mr. Timothy Bamidele, taught the participants on the importance of understanding misinformation and disinformation in the context of crisis and conflict.

BONews Services publisher, Ms. Blessing Oladunjoye, exposed them on the tools and resources of navigating digital information to enable them verify information and hold sources accountable.

A journalist and producer with the Federal Radio Corporation of Nigeria, Ibadan, Ojeakhe Ozoya, advised that journalists should abstain from any biases in order to be fit for critical thinking, as well as to carry out evaluation of any digital content before operating with it.

The first phase of the training session was facilitated by Executive Director of Human Rights Journalists Network, Mr. Kehinde Adegboyega, and Publisher of DNN Media, Mr Mayowa Adeniran.

June 12, 2024