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Technology Can Check Kidnapping- Adoki

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 Kenneth Miebaka Adoki is the chief executive officer of Naira Net Technologies Limited, an intensive corporation, primarily established with the target of attaining Information and Communication Technology (ICT) growth in Nigeria. He has distinguished himself in pioneering cutting-edge solution in his over 30 years of experience in the ICT industry.  Adoki spoke to chris alu in Abuja on issues in the Information and Communications Technologies.

Kidnappers and Criminals Tracking Solution
All these are global positioning equipment, once you attached it to your dress and cover it where nobody can see it; you will be located at any time on demand. It is integrated  into a small data base and has command or rather a service centre where you can actually be reading location of the person at any point in time,  if such a person is  kidnapped you can easily locate him through that  device, because it is always switched on, except if the kidnappers pull out his dressing and remove the device from him  or switch it off, that is where you can not locate him, or else it is quite easy, provided the devices is on him you can track him anywhere the person is. It is an anti kidnapping technology that is very easy to carry about and is connected to the frequency network at all times, with that you can track down criminals as well. It works through the global position system (GPS) it can also be integrated into telephone networks like CDMA, or GSM technology, as well as cars and all sorts of technologies. The device is small and is pack like a SIM card, so once you are connected it start working.
These  are all packages as one device to operate in GPS solution that is cheap and easy to maintain, it can be remotely controlled through the radio frequently identification technology that help to locate and dictate all the areas imputed into the device, it covers a wide range of areas. In fact the whole of Africa is connected through the waves.
It can also be used for vehicles and important places like retail shop outlets to curb theft. Each time you move, the frequency identification will read your movement and send text message to anybody that has your code number on request in his or her phone and it will help to locate you easily, it can also provide anti-robbery solutions for banks to locate or track movement of money especially the bullion van and alert the financial intelligence unit of any suspicious case as they move along with cash.
Biometrics Solutions and Automated Teller Machine Fraud
Bank customers using ATM  require card and pin numbers to make withdrawals, they are  now been hacked by fraudsters, but if we integrate the biometric solutions as retrofit, which is a small equipment attached to the ATM machine it will allow you access your account with pin number and finger print. It is an additional device to ATM users for their security. Just adding a small technology to the machine, you slot your card press the pin number and the only way you can withdraw money is to thumb your finger on the space provided, to enable it capture and identify the original ATM card user, if the finger print is different from the person that owns the card there is no way you can withdraw money. The technology solution was conceived because of the high rate of fraudsters hacking into personal data of cardholders. Fraud itself is a big industry in the world today because it has consumed more than $57 billion out of the economy of the world as at today, and has left a big gap in providing infrastructure and other relevant development of many countries. People use counterfeit or forge document, internet, and all sorts of dubious means to commit fraud, but with this retrofit on ATM machines such deals will be reduce to a barest minimum.
The image processing of the transaction and user verification time will be less then a second and the language support options is provided on the platform just like the same way you use the machine now, the only additional devices will be the finger print which the machine will ask you to do, the service will give automated system that is unmatched for users convenience. It is purely an additional security for ATM users, why we are doing this is because Naira Net wants to positioned itself as a total solution house for satisfying all kind of technology related needs of the people. We are a one stop shop that is bent on addressing all kinds of customers need, and we are striving to be a single vendor interface that would be providing end to end solution for business opportunities.
High Cost of IT Infrastructure
Government has really not subsidized ICT infrastructure because it is not cheap. ICT is an emerging solution that is taken the lead off today’s life be it development, transaction or communications. It is very expensive to run or even to study it. For instance India alone produces over one million IT knowledge workers in their country annually, while Nigeria produces less than 5,000 trained IT skilled workers in a year. So, there is a big gap for us to meet up with the challenge of trained manpower, and until we have a lot of capacity to begin to produce and trained workers in IT or ICT equipment it will continue to be expensive in Nigeria. In India, some of the trainees come up with solutions that march other techniques that are useful to them with the facilities on ground and which makes the equipment cheap. And they are growing in it. China has so many ICT parks that train their people at affordable cost, and most of the ICT parks in China are result of what we consume here in Nigeria such as, handsets, radios, and solar lamps among others. I don’t think we have any functional ICT park here in Nigeria, and that is the only way ICT cost can be driven down. We need to train our people, we need to develop capacity for it, we need to have functional parks, and we need to have the needed.
Until we get to the level where we would begin to have the facilities available, it would not be easy for us to use proper ICT equipment and the cost will continue to grow.
Most of these countries that use ICT equipment fully have stable power, these is what drives down some of the equipment downs.
Using R and D in ICT for Economic Advancement
Research and Development is not at the moment part of our initiative or plan for development in this country. Most of the R&D we have in the country today are not providing the needed know-how to enhance effective deployment for the country as at now. For instance, the universities are down for the past 2-3 months, how can lecturers or the students be involved in research?
Universities do not have the equipment or well equipped laboratories to carry out research, and they are rated very low in the world today.  Organizations are not there to sponsor research and development, so how can we make good use of research and development, where we don’t have the facilities and companies to develop the research such research. This is because it involves quite a lot of money to carryout such project, it is not something that one will start and dump on the road. For us to achieve any meaningful development, we must be prepared for R&D, it is a prerequisite for development once we don’t do it we would not experience any meaningful development our economy.
 The rapid changes that is taking place in other parts of the world from one point to another is as a result of the prolific nature of research and development, and the reasons we are not in R&D in any of the areas of production is because, the facilities are not there. The  facts remains that, there must be new Innovation or product in the market  that would attract people before they buy and how are we going to satisfied an average person with a new product we must embark on R & D.
Government Driving the Application of ICT
All countries have grown on the platform of government driving application of information and communications technology, for instance, Singapore ICT is grown on the platform of one man call Lee Wangyuu, Malaysian economy grow through a particular leader that needed change. In India, the person that drove their ICT was their leader, any country that wishes to grow in ICT must be the leader of that nation, and otherwise it will be done in an epileptic manner. Private or individuals cannot do it alone; we need a leader that have a mindset of driving ICT in this country for it to work effectively. In Dubai, the people driving ICT is the Amatuur family, they are like the prime minister of Dubai, in U.S apart from the government both the public and private sector are into agreement to sponsor or put in money for a particular project to make it successful. There is no way one can separate government from driving ICT in the country, the private enterprise can do it in bits, but it will be too expensive for end users, like in Nigeria most private entrepreneur wants quick return on their investment. How can they provide power, and other infrastructure required for development? It is the government that can do such a big project or enter into partnership with the private sector so that at the end the cost will not be too high  and  the facilities will be able to cover every nook and crannies of the country, and  service will  be rendered at low cost.
Naira Net Capacity in Service delivery
We are not doing all these alone; we have partners all over the world, such as Bevertec of Canada, which we are working with on establishing a National Internet Payment Gateway and financial process exchange through the Central Bank of Nigeria. We have Pentasoft Technologies in India for the establishment of education and training centers on ICT in Nigeria. We are also partnering with Euclid InfoTech, an Indian company to provide e-tender and e-procurement portals for publishing all government contracts and tenders, and we are also planning to upgrade the tender portal services for e-monitoring service.
We also partner with Infrasoft Technologies for secured anti-money laundering software solutions for banks which we have deployed it in UBA, Diamond Bank, Oceanic and Spring Banks and we would implement a core banking software solutions with the Banks very soon. We have Profiteer Corporation of Malaysia which we have signed an agreement with to provider advanced software technologies for revenue collections, debt recovery, legal and third party agency management for Nigeria. Also Amricon of Dubai for information and advance RFID ,smart technology that empowers government, financial institutions and business protection from fraud and document such as cheques, boarding passes, certificates cloning and counterfeiting and many others. We hope to offer all the services in Nigeria and indeed the entire African continent.
 All the companies are professional that have expertise in various technological platform and they are qualified engineers in software technology, with management and research skills.

 


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Banks Close 2m Accounts over BVN, NIN, Others

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Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number (NIN).

Banks Close 2m Accounts over BVN, NIN, Others

This is contained in a report by the Nigerian Interbank Settlement System (NIBSS), which also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

However, details of the “Industry Bank Account Database”, a monthly data reported by banks, and compiled by the Nigerian Interbank Settlement System, NIBSS, also indicated that the number of active bank accounts grew by 6.62 million or 3.0 per cent to 219.64 million from 213.02 million in February.

Recall that in December 2023, the CBN issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper Biometric Verification Number (BVN), and National Identity Number, NIN, that are not linked by Thursday, March 1st, 2024.

According to NIBSS data on BVN enrollment count, 61.6 million Nigerians have BVN as of April 2024.

 

Credit: Vanguard

 

 


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Dubai-Based Citizenship Firm Imperial Citizenship Expands to Lagos, Targets Africa’s Growing Wealth

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Imperial Citizenship, a Dubai-based firm specialising in Citizenship and Residency by Investment (CRBI) solutions, has set its sights on Africa’s burgeoning wealth with the launch of a new office in Lagos, Nigeria.

This strategic move positions Imperial Citizenship to capitalise on the continent’s growing population of high net worth individuals (HNWIs) seeking international investment and mobility options.

Imperial Citizenship boasts a proven track record of success, having secured over 2,000 approvals for clients seeking alternative citizenship and residency pathways. Their partnerships with over 15 governments worldwide provide a diverse portfolio of investment opportunities that adhere to strict international regulations.

With its Lagos launch, Imperial Citizenship begins its foray into Africa. The continent boasts a burgeoning HNWI population, according to PwC, presenting a lucrative market for investment firms like Imperial Citizenship.

According to the World Bank, African economies are projected to grow by 3.4 % in 2024 as the African Development Bank Africa has reported that Africa will account for eleven of the world’s 20 fastest-growing economies in 2024. Highlighting the market’s potential, Mr. Zaid Al Hindi, Founder and CEO of Imperial Citizenship, says, “our expansion into Lagos allows us to directly cater to this affluent segment, offering them strategic solutions for global asset diversification, optimised investment opportunities, and enhanced global mobility.”

“At Imperial Citizenship, we do not operate through intermediaries, as we differentiate ourselves through direct government partnerships. This ensures transparency, legality, and efficiency throughout the application process, providing peace of mind for investment-minded clients” Zaid stated during the launch event in Lagos.

Speaking on the company’s approach to CRBI, Zaid mentioned, “At Imperial Citizenship, we prioritise a client-centric approach. We go beyond simply offering programs; we provide dedicated advisors who understand the unique needs and aspirations of each client. This personalised service ensures clients receive tailored investment options that align with their financial goals and risk tolerance”.

The launch of the Lagos office underscores Imperial Citizenship’s commitment to global expansion. With physical offices in Dubai and now Nigeria as well as operational representatives in Mexico, Algeria, and Turkey, Imperial Citizenship demonstrates its ability to cater to a geographically diverse clientele.

Looking ahead, Zaid highlighted that Imperial Citizenship plans to broaden its service offerings and expand its reach into new markets. By strategically targeting Africa’s rising wealth, Imperial Citizenship is well-positioned to solidify its role as a leading player in the CRBI industry, offering investors a gateway to global opportunities.


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234Finance Moves to Boost Economic Progress in South East

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In a recent gathering, organized by 234Finance, key stakeholders and HNIs came together to discuss the theme “Fueling Progress in the South East.”

The conversation highlighted the rich heritage, entrepreneurial spirit, opportunities for growth and the potential of the South East to be economic powerhouse.

During the discussion, the Managing Partner of 234Finance, Ezinne Nwazulu unveiled plans for an upcoming event of significant impact: the 4-week intensive SME Bootcamp and Mentor Matchup Challenge South East edition designed to empower SMEs. The program aims to empower SMEs with the knowledge, tools, and capital for rapid expansion and global competitiveness.

This initiative is building on the success of previous Mentor Matchup Challenge events, which equipped SMEs with actionable strategies and one-on-one mentorship, resulting in winners of the pitching competition securing grant funding to scale their businesses by 4x-10x.

The SME Bootcamp will feature an array of activities, including physical and virtual training sessions, onsite industrial training, and a pitching competition.

Ezinne Nwazulu emphasized the rigorous selection process, where the top 100 applicants meeting the criteria will undergo intensive training at two training centres in Abia and Anambra. From there, the most promising 15 participants will have the opportunity to pitch their business for grant funding.

Dr Chima Anyaso, Chairman of Caades Group, expressed his commitment to the region’s development and encouraged entrepreneurs with innovative crafts to seize this opportunity.

Criteria for selection are uncompromising, emphasizing technical expertise in core sectors; Agribusiness, Manufacturing, Supply Chain & Logistics, Fashion & Textile, and Retail, with a particular focus on businesses operating within the South-East region for at least three years and significant growth potential of 4x-10x.

The Bootcamp is set to commence from May 14 to June 14 2024 with Southeast-based entrepreneurs encouraged to visit the 234finance bootcamp to apply.


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