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SystemSpecs Edges Other to Emerge Most Innovative ePayment Company

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(R-l): Ikoabasi Akpan, Air France-KLM, sales manager, presenting the Most Innovative E-payment Company of the Year Award to David Okeme (middle), Chief Commercial manager, SystemSpecs, owner of Remita, and Lanre Adelanwa at the Businessday Top 25 Most Innovative Companies and Institutions Award recently
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SystemSpecs, the owner and operator Remita, the e-payment platform that has generated N7 trillion for the Federal Government has been adjudged as the most innovative for creating the payment platform.

At the BusinessDay top 25 most innovative companies and institutions awards 2017, the Company edged out Interswitch, Paystack and Konga Pay.

Organized by West Africa’s most authoritative business medium, Businesday newspaper, the award seeks to honour companies that have contributed to the sustainability of their customer-base, bottomline, overall organisational growth, and development of the country. Over 125 organsiation made the final list.

Addressing journalists after receiving the award, David Okeme, SystemSpecs’ Chief Marketing Officer, said that the award has shown that the company is winning on the kind of innovation the organisation is introducing into the electronic payment space.

“We see payment as an activity that is a must for everybody. Our mantra is that we are going out of our way to create innovations to simplify payment processes for Nigerians. What we have done is that we have marked about ten payment points for consumers and we are innovating around those payments points to make sure that they are delivered seamlessly”.

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Publisher of Businessday, Frank Aigbogun, said the newspaper seeks to advance the philosophy and culture of innovation in our nation space, and to recognize the people and companies that are driving it.

“Today, innovation is a key driver of organic growth for all companies, regardless of sector or geography. Recognising the organization, agencies, and individuals that are driving and advancing the culture of innovation, the award brings together industry leaders across all sectors”, he said.

Special adviser to the Governor of the Central Bank of Nigeria [CBN], Emmanuel Ukeje, acknowledged that 2016 was particularly a tough year for many of the companies. He said the CBN’s response to the economic recession was supported by most of the private sector.

“In response to the recession, these companies looked for ways of going round the recession and remain profitable. We are witnesses to what happened”, he added.

Remita has been adopted by the Central Bank of Nigeria [CBN] for the payment and collections of funds on behalf of the Federal Government of Nigeria, and it is used by all commercial banks and over 400 micro finance banks. The platform has helped to revolutionalize the e-payment industry in Nigeria.

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Okeme explained that SystemSpecs is wholly owned and run by Nigerian with Nigerian software engineers, meaning that the “energy we talked about is being created by Nigerians”.

According to him, “Remita is the system that is powering the Treasury Single Account [TSA] and it has helped the country to save over N7 trillion. The benefits of this innovation is that Nigeria now has full visibility of its cash asset so there is a lot more security in terms of her assets and deploy its resources better”, he said.

He maintained that Remita app combines the functions of several applications, saying that, it is an app that allows users to connect to all the banks applications with one click. He added that with the app, user can respond to payment requests from restaurants, shopping outlets, schools, family, friends, or other billers by quickly snapping, a QR code from his smartphone or tapping his device against the biller’s to complete transactions.

 

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IMF Sees 4% AI Growth Boost for Africa

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Accelerating artificial intelligence (AI) adoption could increase Africa’s GDP by up to 4% over the next decade, according to the International Monetary Fund (IMF).

In a report released on Tuesday, titled Africa Can Grow Faster With AI—If It Moves Now, economists from the IMF’s Africa Department say current levels of AI adoption and utilisation are expected to contribute just 0.2% to the region’s GDP over the next 10 years.

However, the report says stronger adoption, supported by the right infrastructure and policies, could raise the economic impact to about 4% by extending AI beyond today’s digitally connected firms.

Martin Schindler and other IMF economists say: “AI adoption in sub-Saharan Africa currently lags well behind every other region. If richer economies race ahead while African firms and governments lag, the productivity gap between the region and the rest of the world will only widen.”

Early signs of AI adoption are emerging across Africa, with countries including Zimbabwe, Kenya, Egypt and Nigeria developing AI strategies.

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Telecommunications operators, including Vodacom, Econet, Africell and MTN, are also integrating AI into their operations and networks.

Other examples include chatbots supporting teaching and learning in Nigeria and the South African Revenue Service’s use of data analytics for targeted tax audits.

However, the IMF says AI adoption must extend beyond these early use cases to deliver meaningful economic benefits.

“For the region, AI’s main promise is not about replacing office workers, but boosting productivity across the economy—helping informal firms manage inventory, enabling farmers to increase yields, and supporting mid-sized firms to transition to formality and export readiness,” the report reads.

The IMF is urging governments to prioritise investment in reliable electricity, affordable broadband, data infrastructure and digital skills to support wider AI adoption.

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Many African countries, including Zimbabwe, Kenya, Ghana, Nigeria and Cameroon, continue to face electricity shortages, while broadband services remain costly and coverage is uneven.

The Fund believes stronger investment in power, connectivity, regional data infrastructure and digital skills would help unlock AI’s economic potential.

 

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NPC Opens Nationwide Digital Birth, Death Registration Platform

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National Population Commission (NPC) has commenced the nationwide digital registration of births and deaths under the Electronic Civil Registration and Vital Statistics (E-CRVS) system to strengthen legal identity management and improve demographic data.

NPC Opens Nationwide Digital Birth, Death Registration Platform

Speaking at a press briefing in Lokoja on Tuesday, Mr Afolabi Yori, federal commissioner representing Kogi, said the initiative became operational nationwide on July 1, through the VitalReg platform.

Yori described the development as a landmark in Nigeria’s civil registration system, noting that it would modernise birth and death registration through a technology-driven platform that meets international standards.

He said the digital platform would improve service delivery, strengthen data integrity and ensure that every birth and death occurring in Nigeria was accurately documented and securely stored.

According to him, civil registration is more than an administrative process, as it provides reliable statistics that support public policy formulation, resource allocation and national development planning.

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“Nigeria records an estimated five million births annually, yet millions of births and deaths remain unregistered.

“Birth registration coverage currently stands at about 57 per cent nationwide, while death registration remains below 20 per cent,” he said.

The commissioner said that the commission had established 4,011 functional registration centres across the country’s 774 local government areas and was working to expand the number to about 8,000.

He added that the commission was strengthening collaboration with stakeholders to improve the capacity of registration personnel and ensure prompt documentation of vital events through the VitalReg platform.

Yori said the platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, and reduce paperwork, waiting time and unnecessary travel.

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He disclosed that the platform was being operated under a Public-Private Partnership with Barnks-forte Technologies Ltd. as the commission’s technical partner to ensure system availability, cybersecurity and continuous technological improvement.

He called on parents, healthcare institutions, traditional and religious leaders, civil society organisations, development partners and the media to support the initiative by encouraging the prompt registration of births and deaths.

Earlier, Samuel Omonakpeme, director in Kogi, NPC State, described the commencement of the digital registration system as another milestone in efforts to strengthen Nigeria’s Civil Registration and Vital Statistics system.

Omonakpeme stated that the initiative aligns with the Federal Government’s digital transformation agenda and the Sustainable Development Goals, particularly Goal 16.9, which seeks to provide legal identity for all.

He appreciated the Federal Government, the leadership of the commission, UNICEF and other development partners for supporting the implementation of the initiative.

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The state director also urged parents, guardians, health institutions, community leaders, religious organisations and the media to mobilise public support for the timely registration of all births and deaths.

The News Agency of Nigeria (NAN) reported that ICT personnel of the commission, led by Ehimoni Kolawole, conducted a live demonstration of the digital birth registration process using the VitalReg platform.

The demonstration showed that the registration process captures the biodata of both parents, while at least one parent must possess a valid National Identification Number (NIN) to complete the registration of a newborn.

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YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam

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Yola Electricity Distribution Company (YEDC) has alerted its customers to a fraudulent message circulating on social media, falsely claiming that electricity consumers can receive an additional 20 per cent bonus units when recharging their prepaid meters through unofficial channels.

YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam

In a statement issued by the company’s management on Monday, YEDC described the claim as false and urged customers to disregard the misleading information, stressing that it did not originate from the company.

According to the statement, YEDC does not offer bonus electricity units through individuals, agents, personal bank accounts, phone numbers, or social media contacts.

The company advised customers to purchase electricity tokens only through approved cashless payment platforms, including the YEDC Pay App, OPay, Interswitch, and other authorised vending channels, or to visit the nearest YEDC office for assistance.

YEDC also cautioned customers against sharing their meter details or personal information, or making payments to unauthorised persons claiming to represent the company.

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The company further urged customers to rely exclusively on information disseminated through its official communication channels to avoid falling victim to fraud.

The management thanked customers for their continued cooperation and reaffirmed its commitment to serving them.

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