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Opeke Charges Nigerians to Adopt New Technologies to Grow the Economy
Funke Opeke, Chief Executive Officer (CEO), MainOne, has underlined the need for businesses in Nigeria to adopt new technologies to avoid falling behind the rest of the world in technological advancement.
Opeke made this known at MainOne’s annual tech conference, Nerds Unite, which held recently in Lagos with the theme ‘Accelerating Digital Transformation.’
Nerds Unite 2019, hosted mid-level & top level IT executives, start-up innovators and IT enthusiasts who discussed emerging trends in the IT industry and how they affect Nigeria and Africa.
The event featured IT specialist including Toby Shapshak, ICT journalist and thought leader, Libby Barr; Chief Operating Officer, Avanti Communications, Obinna Ekezie; CEO, Wakanow, Ife Oyedele; CEO, Kobo 360, Deji Balogun; and CTO, Terragon Group among others.
At the event, IT experts discussed the importance of applying technology to every facet of life in line with digital transformation agenda of the Federal Government.
The keynote speaker at the event, Toby Shapshak, highlighted reasons why a connected Africa is way to move the continent forward. He pointed out the peculiar situation of Africa and why it is important for Africa to utilize her strength, innovate and catch up with the rest of the world.
The first session, which was titled “Connecting the Next Billion to the Internet and Beyond to Transform the Face of Africa,” was moderated by Shapshak. The speakers for this session included Libby Barr, COO of Avanti Comm, and Funke Opeke who tackled connectivity in Africa and the use of connectivity and technology to drive development in Nigeria.
According to Opeke, “A connected Nigeria is a more economically prosperous Nigeria. It is a better educated Nigeria, it is a Nigeria where access to social services and health services are able to reach more of our population which in itself adds to more prosperity for Nigeria.” She added that the opportunity to use technology to drive economic development is the vision of what ‘we have for a connected Nigeria’.
During a panel discussion on ‘how AI can revolutionize your business model and create new revenue streams,’ Bayo Adekanbi, Chief Transformation Officer at MTN Nigeria, said that there is more to gain from artificial intelligence than there is to lose, and that man would have to adapt to leverage these gains.
This session was chaired by Dr. Olayinka David-West of the Lagos Business School, with Bayo Adekanmbi, Chief Transformation Officer at MTN; Deji Balogun, CTO Terragon Group; and Ernest Terry, from Flutterwave as panelists.
A third session focused on cloud technology and cybersecurity. It was chaired by Ms Funke Opeke and the panelists included Niyi Ajao from NIBSS and Adedayo Adesanya, Lead Consultant at Virtual Nigeria.
The panelists lamented the challenges involved in cloud technology and cybersecurity especially IT illiteracy, with humorous attention drawn to the question, “When it rains, what happens to my data in the cloud?”
But they agreed that cloud adoption is on the increase and emphasized the role of partnerships among global players and local cloud providers with issues such as latency and lack of government support affecting -growth.
In the final panel at the event, speakers gave insights and advice to questions asked by start-up founders and tech enthusiast, reminding them to “be comfortable making mistakes” and not to be discouraged by rejection.
To a question put to the panel members by Aaron Fu of MEST Africa on whether to focus on making money or building userbase, Maya Horgan Famodu, MD, Ingressive says, “numbers are important…but you have to pay your bills.”
The event also featured exciting attractions like a raffle draw where lucky winners went home with gifts like Playstation 4, LG 43-inch TV, Apple smartwatch, among others and included an after-event party.
Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.
In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.
At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.
The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
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