News
Stakeholders meet on developing digital identity ecosystem
By Wale Oguntokun
The Senior Special Assistant to the President on ICT, Mr. Lanre Osibona, has debunked online news reports that the Nigerian government will be spending additional $3.1bn on Digital National Identity. He stated this at the stakeholder’s meeting on the adoption of the ‘Strategic Roadmap Document for Developing Digital Identity Ecosystem’ in Nigeria.
According to him, the said report was not only inaccurate, but entirely misleading, adding that the issues and challenges around the successful implementation of the National Identity are many, and they must be addressed collectively.
Relying on World Bank’s research in 2015, the SSA pointed out that the Country has spent $1.2 billion since the late 1970’s; however, much work remains undone.
“We are projected to spend an additional $3.1 billion if we are to follow the existing approach of developing identification in Nigeria. In other words, with the present administration’s prudent management of funds and applying cost-effective approaches across the ID ecosystem, the country could spend less on the project.
Acknowledging that, funding had not been a key issue, he added that “one of the biggest challenges in achieving a holistic and robust national identity has been the lack of a workable ecosystem and practical approaches.”
He pointed out some of the changes that have been made and are ongoing.
Some of those immediate changes include, but not limited to, employing a smart approach, such as “reducing the number of identity attributes we will be collecting from, what I believe, was 75 attributes, to just ONLY 10 for the NIMC Foundational System. The idea is that, we have a baseline of basic data of all Nigerians which can be built on by Functional ID stakeholders.”
“We have also analyzed cost-effective methods to transit from the issuance of physical cards as ID into a digital National Identity Number (NIN) if we are to truly register all our citizens”.
“On planning and implementation. The implementation of the National Identity will be undertaken as a project-based deliverable. Starting with the development of the Harmonized Digital National Identity Strategic Roadmap, for which we are undergoing a final review with all of you stakeholders. In addition, we have clearly defined key milestone deliverables, done our forecasted expenditures (OPEX & CAPEX) and the associated funding, and mapped out a timeframe to ensure there are measurable successes.”
“However, these changes are only as good as our collective efforts. Everyone has a part to play in developing a robust and innovative identity ecosystem.”
“The benefits of a single National Identity System with biometrics, offering a unique digital identity number to every person – are numerous. Enabling innovation, fostering social inclusion and a socially responsible society, enhance the development of a more efficient national planning, robust and effective security management”.
However, it is important to point out that SSA, Mr Lanre Osibona (who was at the meeting, in his capacity as the VP’s representative) was suggestive in his remarks and made no affirmations during the stakeholder meeting.
“Each stakeholder (for both Foundational and Functional uses) stands to gain tremendously from this system” e stated.
He further pointed out that the FRSC can leverage on the harmonized digital identity ecosystem to enforce traffic offences and telephone operators will have a robust database to verify existing and new customers and can focus their attention on innovative offerings.
Also, bank operators can accelerate the KYC process and extend innovative financial solutions to a wider segment of society and overall security benefits of curbing fraudulent activities in a current environment of anonymity.
The Senior Aide from the Office of the Vice President called for a spirit of collaboration, saying that no man is sole repository of knowledge; “while there must be single-mindedness in our drive to strive forward, contributions are necessary if we are to successfully implement this program”.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
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