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People Carry Cash as Back-up Plan- Akpan

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Iniabasi Akpan, is the managing director of SoftWorks Limited, software technology solutions company. SoftWorks was carved out of iTECO (Nigeria) Limted, a company owned and managed by highly qualified professional engineers and specialists with several years of training and experience both in Nigeria and abroad. Akpan has 19 years experience in the ICT industry and has worked in the many institutions. He spoke to chike onwuegbuchi and funmi ilesanmi

SoftWorks e-Payment Solutions
I would say we are a nitch player in the market currently. We focus on e-payment which is one of the areas we play; we offer smart office solutions and also look into business transactions.
We also install Automated Teller Machine (ATM) hardware as well as provide services and support around hardware which includes applications.
Fraud in the System
One thing we must understand about chip and pin is that it has added security feature which makes it difficult to clone ATM cards and protect it against the use of such cards for any transaction. It is not easy to scheme. So, it prevents someone from actually producing one because of the added security feature.
More so, looking at the rate of scheming today, magnetic stripe always has issues with scheming, so people can clone the card and use it. That is one of the distinguishing factors between magnetic stripe and chip and pin cards.
Deploying Deposit ATM Cards
We are currently in talks with a couple of banks and also looking at opportunities to deploy such models of ATMs.
Deposit ATMs can improve efficiency, such that someone can go to the bank over the weekend and make a deposit of his cheque. Do not forget that depositing a cheque involves quite a number of processes, those processes have to be part of the entire solution of deploying a cheque deposit or cash deposit ATM. These are the issues that need to be address, it is not just the hardware but the processes associated. What happens after someone makes a deposit of a cheque? Normally at the counter you have to post it into a banking system; now that cheque has to go through an alternate process when taken in through a machine. There are still processes to be sorted out before you can consider deploying one.
Normally there are human interventions, now you are saying a machine should take the place of humans. You can deploy cheque deposits in two models, either through a completely automated process, which means you will require the service of an expert to complete the entire process knowing that when you receive a cheque, it still has to go through a clearing system. For now, I think what is most acceptable is to receive the image of that particular cheque. Today, we still need the physical copy of the cheque for clearing process to be completed, maybe a bank can receive a cheque within its own bank through the machine, but if it’s interbank it might be a bit more complex. You can go through a completely automated process if it is intra-bank cheque. But, for inter-bank it would take a longer time because the infrastructure is yet to be put in place.
Virtualization and Efficiency of Enterprise Management
Virtualization is just a broad term, which means to improve portability, manageability and compatibility. I think that efficiency is what virtualization is trying to achieve for computing resources. Narrowing it down to applications, it makes hosting applications effectively on a foreign or an incompatible hardware that makes it possible to roll out those applications.
From a more central perspective, I can have fewer servers, consolidate all applications on a server and get people to access them.
Virtualization in the Telecom Industry
The telcos rely a lot on their infrastructure and managing the infrastructure is difficult. The best thing is to virtualize the applications that people have to access remotely in order to make it more efficient even for management purposes.
Relationship with Swift
We are the only service partner with Swift and has been together for nine years. Swift means Society for Worldwide Interbank Financial Telecommunication, they provide financial messaging platform for interbank correspondent. If you need to do a transfer in foreign or local currency, it is a platform to make transfers. A number of banks have their own infrastructure but every bank is a member of Swift because it is more like a cooperative, owned by banks. It is a platform of messaging for correspondent banks to credit accounts.
SoftWorks Service Bureau
Our service bureau provides service base model for banks which is like the Swift gateway for members of Swift to connect and send messages to one another. We are basically connected to the Swift network and have people who want to reduce cost and alternatively want to use it as a disaster recovery system. Institutions leverage on our infrastructure to accomplish this, because looking at the path of upgrade, managing the infrastructure is expensive so sharing makes it easy for everyone.
Unified Communications
Unified communication is bringing together the various communications channels to improve the productivity of the office worker. It means streamlining communications channels such as emails, fax, phones, voice and video. Communication has to be managed over these separate channels for it not to have a negative impact on productivity.
What should be done is to integrate all the PCs together in such a way that a person is more effective. You can send a fax to me and I receive it in my email even if you left a voicemail on my phone, I can get it on my email. That makes it possible to work securely anywhere, anytime with ease.
In the area of reducing cost, if you take the various relevant solutions for unified communications, I would say it reduces the cost of traveling and training because if I can conference with people across the country, that reduces my cost rather than people traveling by air to venue of a meeting.
Quality of Connectivity   
Times are changing, in the past it would have been difficult but now there are several options to get connected. It is not only on the internet, it is also about integrated system. We need to have the right knowledge, the right capability and the right partner to work with to implement unified communications wholistically. There are various channels and a specialist at voice and may not be specialized in other aspects.
Encouraging the Use Other e-Payment Channels
People carry cash as a back up plan because they are not sure what the encounter would be with the system. If the systems are reliable, people would be more comfortable using it. So it is about reliability and providing additional services and solutions on those touch points, these are the things that thrives usage.
Improved reliability of the systems
To a degree, it is more related to network connectivity because managing offsite is a bit more difficult than managing onsite. If you are to put touch points offsite, you need to have the appropriate system to support it. Getting to an offsite location is more difficult unlike when it is within the branch where you can easily access it to resolve problems. When a site is offsite, you need a good managing system to know where the devices are and what the state of those devices are, which is a part of improving reliability.
Challenges of using Indigenous Banking Applications
I would say it is a slim chance for now. Most banks want tried and tested systems because banking is about service. You would not like the system to break down or having issues especially when you are serving your customers. Banks naturally flow with tried and tested systems rather than gambling, for now I think it will take several years for it to happen. We still need to play a catch-up on best practices and standards.
It will take several years to build robust software that will erase the current challenges faced by banks today. I am sure India did not start yesterday, to be practical, if it does happen it will take several years.
SoftWorks Smart Office Solution
SoftWorks smart office solution improves the productivity of the average office worker. Today, people not only want to work in a smart way, they want to work with ease and minimal supervision. The fact is that to make this possible, you need to have the appropriate solutions. You have to prevent security breaches because breaches affect productivity. If a virus attack someone’s network the whole system is shut down resulting in down time. Some of the components of our smart office solution enhances the productivity of the office worker in a way that down time is reduced, security breaches are minimized, eradicate abuse and unknown system usage.
Imagine the tons of time that is lost to surfing on CNN in a whole day rendering the office worker unproductive. It is not that surfing on CNN is bad but when the whole day is lost to browsing. We want to make it possible for people to work with ease any day, anywhere, anytime.
Subscribing to Smart Office Solution
It is a solution that is implemented according to the need of the customer, so it has to be tailored to the customer’s specific needs. We ask a few pointed questions which determine how the solution will be implemented.


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SSDC Warns Businesses against Cyber, Election-Related Risks

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Security Skills Development Company (SSDC) has released its 2026 Security Outlook, highlighting four major security challenges expected to shape Nigeria’s business and operating environment as the country moves closer to the 2027 general election.

SSDC Warns Businesses against Cyber, Election-Related Risks

The report, developed from a nationwide survey and expert contributions at the recently concluded Security Thought Leadership Roundtable, identifies internal security threats, protection of national assets, cyber risks and election-related instability as the most significant concerns facing organisations and institutions in the coming year.

According to SSDC, findings from the survey and stakeholder discussions reveal growing concern over the increasing complexity of security challenges and their potential impact on business continuity, economic stability and public confidence.

A substantial number of respondents identified internal threats within organisations as an emerging risk, pointing to the need for stronger corporate governance, workforce integrity measures and structured risk management systems.

Security experts at the roundtable noted that weaknesses in critical public infrastructure and national assets could have far-reaching consequences for the economy and national development if not adequately addressed.

The report also highlights cybercrime as a persistent and evolving threat to both public and private sector institutions.

Participants stressed the importance of strengthening cyber resilience through proactive monitoring, investment in technology-driven safeguards and improved security awareness.

Another key concern raised in the outlook is what SSDC described as the “2027 Election Shadow.” Many respondents expressed concerns about the possibility of heightened political tension as the election season approaches, warning that uncertainty and security disruptions could affect business operations, investment decisions and overall economic confidence.

Speaking on the report’s findings, Mike Igbodipe, managing director, SSDC, called for a more strategic approach to security management across both public and private sectors.

He said organisations must move beyond reactive security measures and integrate security considerations into their broader strategic planning and decision-making processes. He also advocated the development of a gold-standard, locally certified training programme for security professionals tailored to Nigeria’s unique security environment.

SSDC, a security training and consulting firm focused on advancing professional standards in Nigeria’s security sector and strengthening industrial resilience through capacity building and strategic expertise, said the Security Outlook forms part of its ongoing thought leadership initiative aimed at promoting informed dialogue on national security, institutional resilience and risk management.

The company reaffirmed its commitment to supporting stakeholders through research, training and strategic advisory services designed to improve preparedness and response to emerging security challenges.

 

 

 


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Moniepoint DreamDevs Bootcamp Graduates Second Cohort to Strengthen Homegrown Talent Pipeline

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L-r: Co-Founder/Chief Operating Officer, Semicolon, Ashley Immanuel; Employer Brand Manager, Moniepoint, Celestina Dike; Head of Engineering, Moniepoint, John Ojetunde and Head, Talent Acquisition, Moniepoint, Perpetual Ibe at the Moniepoint DreamDevs Demo Day presentation which held in Lagos.
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Moniepoint Inc., Africa’s leading digital financial services provider, has officially graduated the second cohort of its flagship DreamDevs Bootcamp, marking a significant milestone in the company’s ongoing effort to build world-class engineering talent from the ground up.

The graduation was celebrated at a Demo Day event held in Lagos, themed “Training Done! Demo Up!”, where participants presented capstone projects built to real-world engineering standards.

The graduation comes at a crucial time for Africa’s tech ecosystem. Although Nigeria’s tech talent is growing, it isn’t sufficient, especially at the mid-to-senior engineering level, where demand far exceeds supply. By 2030, the global shortage of software developers could reach 85 million, leading to economic losses of $5.5 trillion. For a continent developing its digital infrastructure, this is critical. Moniepoint’s DreamDevs Bootcamp is a strategic response to these challenges.

The nine-week curriculum, created by Moniepoint’s Engineering Unit in partnership with Semicolon, covered Java Object-Oriented Programming, Data Structures and Algorithms, Software Testing, MySQL, Spring Boot APIs, System Design, Docker, Messaging Queues, Frontend UI, and Cloud Infrastructure. Participants received programme stipends and mentorship from experienced Moniepoint software engineers, gaining valuable exposure to the production environment of one of Africa’s fastest-growing fintech firms.

During the Demo Day presentation, the participants paired into 9 teams were excited to showcase how they have deployed knowledge and skills gained during the course of the bootcamp  into real and useful  solutions in real estate, hospital management, event management, food and agriculture.

Commenting, Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint, said, “DreamDevs is a structural investment in Nigeria’s digital economy, not a recruitment exercise, not a pipeline built solely to serve Moniepoint’s hiring needs. That said, we are proud that some graduates from our first cohort are already active members of our engineering team, proof that when young African engineers are given the right training and the right environment, they can compete at the highest level”.

Felix added that “Engineering excellence is not a naturally occurring phenomenon. It is a curated and intentionally built process that requires the right systems, the right resources, and sufficient time to take hold. Building that process and making it accessible to the brightest young engineers on this continent is a responsibility we have chosen to own.

Africa’s digital economy is attracting significant global capital, yet the talent infrastructure required to sustain that growth remains underdeveloped. The DreamDevs Bootcamp and our other capacity-building initiatives across some of Nigeria’s public universities demonstrate Moniepoint’s commitment to this responsibility.

The initiative also aligns with Nigeria’s broader national agenda on technology skills development. Moniepoint serves as a key sponsor of the Federal Government’s 3 Million Technical Talent (3MTT) programme, which focuses on mass technical skills training across the country. While 3MTT addresses the scale challenge, DreamDevs provides depth, offering a specialised, end-to-end pathway from foundational training through to employment within Moniepoint’s complete development ecosystem.

As Nigerian fintechs deepen their infrastructure ambitions, the ability to grow engineering capacity that feeds these aspirations requires an urgent industry intervention, as Moniepoint is demonstrating to address Africa’s engineering talent challenge.


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NITDA, Benin’s Digital Agency Strengthen Ties on Digital Transformation

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The National Information Technology Development Agency (NITDA) and Agence des Systèmes d’Information et du Numérique (ASIN), the Information Systems and Digital Agency of the Republic of Benin, have moved to strengthen bilateral cooperation on digital transformation, digital public infrastructure, and innovation-driven governance.

The commitment was reaffirmed during a courtesy visit by the Beninese delegation to NITDA’s corporate headquarters in Abuja, where discussions centred on deepening bilateral cooperation, sharing best practices, and advancing digital development across the region.

Speaking during the engagement, the Director General of NITDA, Kashifu Inuwa, represented by the Director of Stakeholder Management and Partnerships, Dr. Aristotle Onumo, said regional collaboration remains critical to advancing Africa’s digital economy and building resilient digital ecosystems capable of supporting sustainable growth.

He noted that NITDA is committed to driving Nigeria’s digital transformation through the development of policies, standards, and strategic frameworks designed to modernise governance and improve service delivery across the public sector.

According to him, the agency has developed several foundational frameworks, including the Enterprise Governance Framework, Digital Transformation Framework, and Software Quality Assurance Framework, to guide Ministries, Departments, and Agencies (MDAs) in their digital transformation journeys.

“Our goal is to move government institutions beyond basic digitalisation to full digital transformation, and ultimately, to build an intelligent, data-driven government powered by emerging technologies such as artificial intelligence,” he said.

Inuwa also disclosed that since 2018, NITDA has reviewed over ₦1.5 trillion worth of government IT projects to ensure compliance, technical alignment, and value for money.

He said the intervention has helped the Federal Government save more than ₦300 billion by eliminating duplication, promoting shared services, and improving the success rate of digital projects across ministries, departments, and agencies.

On digital public infrastructure, he revealed that Nigeria has transitioned from fragmented agency-to-agency data exchanges to a more integrated and citizen-centred digital ecosystem through the Nigerian Data Exchange (NGDX) platform.

He explained that the platform provides a federated and centralised framework for seamless data exchange among government institutions while preserving the autonomy of individual information systems.

According to him, the proposed e-Government and Digital Economy Bill will provide the legal backing needed to strengthen the platform and institutionalise digital collaboration across government.

The DG further highlighted NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0) 2024–2027, which aligns with the Federal Government’s Renewed Hope Agenda and focuses on critical areas such as digital literacy, research and development, cybersecurity, innovation, inclusive access, and strategic partnerships.

Earlier, the Head of International Partnerships at ASIN, Tildy Erlong, said the delegation’s visit followed a recent Smart Africa workshop in Abuja and was aimed at strengthening institutional ties and learning from Nigeria’s digital transformation experience.

She described ASIN as the operational agency under Benin Republic’s digital ministry, responsible for implementing strategic digital development projects across the country in collaboration with key institutions, including the national identity agency, ANIP, and the cybersecurity agency, CENIN.

Erlong highlighted Benin’s achievements in digital public infrastructure, noting that about 98 per cent of the country’s population—approximately 13.6 million citizens—has been enrolled on its digital identity platform.

She added that more than 60 government agencies and service institutions are connected through Benin’s XROAD interoperability platform, enabling the delivery of over 250 digital services to citizens.

According to her, Benin is also prioritising digital inclusion, open-source systems, and the deployment of artificial intelligence to improve service delivery in sectors such as healthcare, education, and justice.


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