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Tag: Tobe Nnadozie

  • Nnadozie wins CIO & C-Suite award for impacting Africa’s IT ecosystem

    Nnadozie wins CIO & C-Suite award for impacting Africa’s IT ecosystem

    Divisional Head, Technology and Innovation, Central Securities Clearing System Plc, Mr. Tobe Nnadozie has been recognised for his leadership and innovation strides in technology, thus winning CIO & C-Suite for impacting Africa’s IT ecosystem.

    Messrs Edniesal Consulting Limited (ECL), an enterprise governance firm that provides business consultancy services to startups, small and medium enterprises, and large corporate organisations across different sectors of the Nigerian economy conferred the award on Nnadozie recently.

    The CIO & C-Suite Awards, the fifth edition, is to honour successful and outstanding individuals and organisations that have achieved milestones in the course of delivering their roles on African soil.

    According to the organisers of the award, which was held in Lagos, Nnadozie, who was recognized in the Universal Public, Social Services, and Agencies Category, has contributed exceptionally to Africa’s IT ecosystem.

    The organizers stated that to uphold global best practices and ensure credibility and prestige, Messrs KPMG, a renowned global consulting firm, conducted a thorough and rigorous vetting process.

    According to ECL, Nnadozie’s work has been pivotal in driving technological advancements across the continent.

    “By championing innovative practices and fostering collaboration among stakeholders, he has redefined the possibilities of IT in public services and beyond.

    Read Also: Nnadozie wins Nigerian Achievement Award in digital innovation, technology

    “His leadership has empowered organizations to harness technology for better governance, improved service delivery, and greater social impact.

    ‘The CIO & C-Suite Awards are widely regarded as a hallmark of excellence in technology leadership. By celebrating Nnadozie’s accomplishments, the award highlights his vital role in shaping a forward-thinking IT ecosystem for Africa.

    ‘This recognition not only cements Nnadozie’s position as a trailblazer but also inspires others to embrace the transformative power of technology in building a more inclusive and sustainable future for the continent.”

    In his response, the awardee, who visibly was elated over the recognition, attributed most of his achievements to his supportive bosses and teammates.

    “I am deeply honored to receive this recognition. It reflects the collective efforts of many and underscores the importance of technology in transforming lives and communities across Africa.”

    Nnadozie, popularly known as Tobe, is a business manager focused on the delivery of highly innovative platforms. He has been instrumental to the setting and management of the digital platforms of three leading banks in Nigeria.

    In addition, he was involved in the design and implementation of various firsts like the first inter-bank digital payment platform, first cash deposit machine in Nigeria, first Nigerian Insurance Database and many others.

    He has led teams in digital business, technology, public sector collections, project management, and retail business amongst others.

    Prior to joining CSCS, Nnadozie was most recently the Group Chief Information Officer of the Wapic Insurance Group comprising three companies in Nigeria and Ghana. While in Wapic, he also had oversight of the Digital and Data Science/Architecture Teams.

    Nnadozie has worked in various banks like Guaranty Trust Bank, Standard Bank (Stanbic in Nigeria), FCMB, and Heritage Bank where he was a Deputy General Manager in charge of the Innovation and Products Division.

  • How digital innovations can improve capital market, by Nnadozie

    How digital innovations can improve capital market, by Nnadozie

    Stakeholders in the capital market industry have been urged to deploy digital innovations, which would enhance the sector, boost confidence levels, reduce fraud, and grow the economy.

    Head of Business Technology and Digital Innovation at Central Securities Clearing System (CSCS) Plc, Mr. Tobe Nnadozie, gave the charge in Ibadan, Oyo State, recently during the Annual Chartered Institute of Stockbrokers’ Conference 2024.

    Speaking on ‘Harnessing Digital Innovation for Capital ‘Market Expansion and Economic Growth in Nigeria’, Nnadozie said the time had come to unlock the potential the nation’s capital market possesses.

    According to him, digital innovation refers to the use of technology to create new or improve existing products, services, and processes.

    This, he added, includes fintech solutions, blockchain and cryptocurrency, and artificial intelligence and data analytics.

    While noting that capital markets are financial markets where companies and governments can raise money by selling securities, Nnadozie however, lamented a situation where many accounts in the market were inactive.

    He said: “As of September 2024, 6,099,128 were total tradeable accounts, 531,262 were active accounts, representing 9.54 percent only while 4,128,068 were suspended accounts. This speaks volumes.”

    Nnadozie noted that the market currently faces a myriad of challenges that threaten the growth of the sector and the nation at large.

    But he said, those constraints were not insurmountable where there was willingness to adopt digital innovations by all concerned.

    “Nigeria’s capital market faces several challenges, including low liquidity, limited investor participation, and inadequate regulatory framework, that create barriers to growth.

    “The Nigerian capital market presents opportunities for growth, including the potential for increased institutional and retail investor participation, leading to a more liquid and diversified market.”

    Read Also: CSCS has enhanced Nigeria’s capital market – Nnadozie

    He said that when digital innovation is embraced, it will lead to improvement in efficiency by automating processes and reducing transaction costs, making it easier for investors to participate in the market.

    Nnadozie added that the innovation will also bring about transparency that would make it easier for investors to access information and track transactions, reducing the risk of fraud or manipulation.

    Also, the CSCS official added that digital innovation in capital markets can expand investor participation by making it easier for new investors to enter the market, increasing liquidity, and diversifying investment opportunities.

    Among others, Nnadozie said that digital innovations will lead to increased investment and liquidity and will also encourage job creation and entrepreneurship opportunities.

    He said that digital investment platforms were making capital markets more accessible to retail investors, allowing them to invest in a wide range of financial products and services from anywhere at any time.

    On strategies to promote digital innovation in Nigeria, Nnadozie advocated for policy and regulatory framework, public-private partnerships, capacity building and education, well-educated investor base.

    He commended the regulator, the Securities and Exchange Commission (SEC) for its commitment to various initiatives that are driving digital innovation in the capital market.

    According to him, one of the major steps taken was a Know Your Customer (KYC) update and a new account validation system.

    This major initiative, he added, has led to easier adoption of digital solutions in the market.

    He said both the issuers and the Nigerian Exchange (NGX) have made noticeable progress through the digital trading platform, which has eased the ongoing rights and public offers in the market.

    He advocated for more of these initiatives and positioned that the CSCS through the current leadership having created the founding layers of digitalization with various self-service portals and Application Programming Interfaces (API) will be willing to work with the market.