General News
Software Implementation Failure not Peculiar to Nigeria – Agada

James Agada, managing director of ExpertEdge and chief technology officer, Computer Warehouse Group (CWG) Plc, is a thoroughbred electronic engineer with over two decade experience in the information technology industry.
Agada has worked with reputable IT companies before helping to form ExpertEdge in 1994.
He spoke to chike onwuegbuchi on issues around software and Computer Warehouse Group Plc.
Certification of Local Software & Role in Marketing and Patronage
Yes, certification has a role to play in marketing and branding. But in the software world, certification is normally done on the Company rather than the product.
Why it is done on the Company is that the product gives you the link to areas you can certify a company. For instance, if you are using word document, did anybody certified it? of course, no. We use Google daily without being certified.
But in some areas the software such as software used in running an airplane, there might be no certifications, but they are of standard, dogged and resilient.
Although, while you want to purchase certain products you might require to know if the software met certain standards, but it is very hard to deduce that, because any software in its composition has a mode it can operate depending on the environment, parameters and the users.
That is why nobody writes software and gives you a guarantee that it is bug-free.
In fact, if you read most licenses for software, there are usually clear disclaimers that they will not be responsible for any loss you might suffer as a result of a bug in the system.
They can only guarantee that when bug cases arise they will use their anti-bug system to fight it. However, companies that provide third party or outsourcing services, when you do not know the man’s competencies, you would want to see some certifications that will assure you that they have the competence. That gave rise to levels of certifications.
These are process certification. The idea is that when you follow these processes, hopefully, the quality of what you produce will match what is requested for.
But there is large portion of the work where people signify Mr. X I want banking software and it should do A, B, C, D&E in the following order.
So, you have that already specified; in other words, you can check if the final product meets the standard.
Basic Causes of Incidences of Failed Software Implementations
If we actually take time to study IT projects in general, there are probably more failed ones than the successful projects.
But it is not peculiar to Nigeria. It is a worldwide phenomenon, because software is trying to capture the way you work; part of the problem is, does the user know all the possible use cases he can have. So, as a banker, you do your processes, but you do not know all the possible ways to go about it.
The failure of IT or software related projects starts with the setting, which is establishing the act. If you fail to establish what your processes are properly, there is a great tendency to failure. Failure here implies that it is not meeting the requirements.
Maybe you set it to calculate interests under this condition, however, in actually use there are more conditions that you thought.
The second thing that causes failure in the software management projects is that the initial plan ought to incorporate all the decisions and at what point they need to be implemented, but bringing it as an adhoc thing will not fly.
Part of the success we’ve had is because the processes were laid down and when the banks came, we told them before you start we are going to take you away for 45 to 52 days and train the people in the bank, so they will understand what the software can and cannot do.
The next two weeks will be used to set the parameters; now you know the software; you have to configure it and establish where there are gaps, adopt the software and close the gaps.
Then, you do training and retraining to keep the update on the processes. We have used this process to deliver our Finnacle successfully.
So, project management is a big issue; you have to set the process correctly.
More so, choosing the wrong partner and wrong software add to the failures. It is your project, not the consultant’s.
You have to be dedicated to it and fight till it is delivered. Such choices as he is my brother, business partner; kickbacks, influential personality, are not supposed to be the standards.
Competence matters. For instance, in changing you bank application; it is like changing the processes engine; the man to do it must be qualified.
Managing Processes in Face of Incessant Project Failures
There is a clear process for implementation. We have adopted that into many projects we are doing. I think you can apply that process to any software project for a better result.
A software provider can be sure of the properties, but you do not know the man’s or client’s business and vice versa.
The first thing is that the man has to learn your software, as you learn his business too. Then, two of you can discuss on how to get the best out of the processes.
A lot of software providers go with the notion, ‘this is the software’, now, come and take it to run your business.
Most times, the providers tend to assume that this is what the people required for their operations.
CWG 2.0 For SMEs
CWG 2.0 is not a product rather an initiative of the company. Most of the time, we have focused on large corporations. But if we look at it in Nigeria, we probably do not have more than 2,000 big corporations.
If you use the Stock market as a yardstick, only 200 are listed on the market. But, if you look at the statistics government gave us, we have more than 17 million medium and small enterprises. So, to have an impact on the economy, it cannot be only the large corporate.
Like somebody said, Dangote on its own can employ about 10,000 or all the corporations that are flourishing employ 100,000 people all together, but how many Dangotes are you going to have in Nigeria.
But the 17million SMEs are individuals doing something and they need support. To us as a business, it is not just going to make impact on the economy. It also means that we are going to sell to the 17 million enterprises.
These smaller companies do not have millions of dollars to spend on; but the smaller amounts they have can be used to transforms their fortunes.
So, how do you support them? How do you use IT to make them increase their profit margins? A large portion of what we are doing in CWG 2.0 is to make this happens.
It will improve their business and they can employ others.
For instance, if most of them employ one person it will reduce the issue of unemployment in Nigeria.
The SMEs platform CWG 2.0, have three initiatives. One of them allows businesses to operate, but you pay only subscription fee and it is delivered over the web.
That solution also ties into the cashless initiative of the government. What we have done is that you can even use your mobile phone to access it or the regular PoS.
Now, as an SME, you may end up not making any investment fee, because you will get the PoS from the bank and can use it to run your business and other commercial activities.
We also know that critical to this segment of business is their inability to sell outside the immediate market. The easiest way to overcome that is to have online shop. We are aware there are several online shops at different combination in Nigeria, but what we have done is that we created a platform in collaboration with Spin, where we have equity holding too.
The solution is where anybody can open an online shop. What we have done to make it easier is by integrating payment and logistics system on it.
Therefore, without doing anything extra, people can go and start accessing you through the internet. And when you sell, our logistics partner will come to your shop, pick it up and deliver it.
What that means is that we have taken away the barrier that prevented them from selling online. Even the question of accepting payment is eliminated, because it is with a proof of delivery that will guarantee you take your money.
Subscription to That
Of course, there is a subscription fee, but the fee is very minimal; an average of about N2,500 for a month.
If you are to go rent a shop, for instance, Tejuosho, do you know how much it will cost. Even the subscription of N10,000 amount, that has not gotten you a shop in that market, but with that you are sure of reaching out to your customers anywhere in Nigeria.
CWG’s Data Centre
The Data centre we have is the Tier 111 with 25 to 45 racks. For now, we are our biggest customer, because we are using a considerable amount. However, there are other customers. We need to make distinctions.
Ordinarily, you build a big house, people come and rent. That is why a lot of people are building data centres in Nigeria.
Why is our different? It becomes different, because when you have such infrastructure, you need to keep something inside. When you do that, you need to manage it.
We have the capacity to support your hardware, software and your obligations. We have the engineers ready to attend to additional services in a jiffy.
However, we also realized that the data centre requirements in Nigeria is not necessarily going to be met by people who build any large data centre. My opinion is that there is already a block of data centres but there is a scarcity of properly managed data centres.
Our programme is that, we are going to maintain the support services; we are not saying build a 100 rack data centre; rather we will follow the trends of businesses.
For instance, we are building a teleport; that alone will consume 5 to 10 racks. Others are coming on board. So, if we look at banks, what many people will quickly find out is that if the banks require putting their data recovery centre, which is what keeps them going, the problem you will have as a datacenter is power.
By the time you have five of those banks putting their servers with you; you will need a power source, not a generator issue, to keep powering them.
That is going to be major challenges in future because most of them are using enterprise servers that consume power. For now, we are not in that business, because of power.
If power situation in Nigeria improves significantly where generator will be your fall-back, then it will become easy to go into that business. Currently, the public power is the fall-back.
General News
IMF Warns Nigeria of Risks in $5Bn Swap Deal with First Abu Dhabi Bank

The IMF on Tuesday warned of risks surrounding Nigeria’s plan to borrow up to $5 billion through a derivatives agreement with First Abu Dhabi Bank, saying such transactions are often opaque and complex.

Recall that the Senate in April gave its approval to the agreement, joining other Africa borrowers like Senegal and Angola who have tapped similar arrangements over the past year.
“Our view is that the transaction in these types of structures carry risks. Usually they are opaque so the terms are not always very transparent when we reviewed these instruments across countries,” Christian Ebeke, IMF resident representative in Nigeria, told reporters.
Ebeke said Nigeria could instead issue eurobonds to finance its deficits or other means to raise funding, including on concessional terms.
Nigeria intends to use proceeds from the total return swap, or TRS, to refinance expensive debt and pay for infrastructure.
In its latest Article IV review, the Fund praised Nigeria’s sweeping reforms, saying they had strengthened economic stability and investor confidence, but warned that the benefits had yet to reach millions of citizens and could be undermined by global shocks, including the Middle East conflict.
The reforms since 2023 under President Bola Tinubu – including fuel subsidy removal, tighter monetary policy and exchange rate liberalisation – had rebuilt buffers and improved macroeconomic management, the IMF said.
However, it cautioned that the reforms were also contributing to social strain, with poverty levels at 63% and millions facing food insecurity, underscoring a widening gap between macro gains and household realities.
The IMF said improved policy credibility and forex reforms had helped Nigeria regain access to international capital markets and attract portfolio inflows, while reducing risk premiums. The central bank says gross reserves are at $50 billion, the highest in 17 years.
But reliance on volatile foreign portfolio investment poses rollover risks, the IMF said, urging a shift towards more stable, long-term capital such as foreign direct investment.
General News
SSDC Warns Businesses against Cyber, Election-Related Risks

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.

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.
General News
Moniepoint DreamDevs Bootcamp Graduates Second Cohort to Strengthen Homegrown Talent Pipeline

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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