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CBi Unveils Web-Based Solution to Help MSMEs

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Convention on Business Integrity (CBi), in collaboration with ActionAid and Lagos Chamber of Commerce and Industry (LCCI),  have unveiled a web-based solution (ethicsqed.cbinigeria.com) to help Micro, Small and Medium Enterprises (MSMEs) meet COSO 2013 standards.

 

The unveiling was detailed in a communique made available to the media in Lagos on Tuesday.

 

Mr Soji Apampa, chief executive officer, Convention on Business Integrity (CBi), explained that the web-based designed aimed at preparing MSMEs meet the COSO 2013 standards on internal controls and to establish certifiable anti-bribery, anti-corruption standards (ABAC).

 

Apampa said that notwithstanding the various challenges faced by businesses in Nigeria, MSMEs could distinguish themselves from other organisations by being compliant with international standards as a competitive edge and subscribing to the COSO 2013 framework.

 

He said that donor organizations as well as development banks have had cause to stop MSMEs from participating in their activities because of integrity issues in a process called Debarment.

 

“MSMEs in Nigeria are severely challenged by issues of undercapitalization, lack of records, difficulty to access of bank credit, high cost of doing business, irregular power supply.

 

“Additionally, inability to separate personal finances from business, corruption, infrastructural inadequacies like bad roads, government lack of interest in the sector, amongst a host of others summarily explain their challenges.

 

“Issues such as falsification of their year of incorporation, doctoring the value of reference contracts and tampering with the experience of key personnel.

 

“However, compliance with international standards and subscribing to the framework can help address these challenges and put your business in a vantage position to ensure competitiveness,” he said.

 

Presenting the business model of the platform, Mr Maduka Okafor, Information Technology Manager, Integrity Organization Limited,  explained that the value proposition of the platform was to enable MSMEs understand ethical and anti-corruption standards.

 

Okafor explained that it also served as a marketplace of service providers,  who provide regulatory interface services and also help MSMEs internally assess themselves and show credible evidence of conformance with standards and regulations.

 

He said that the customer segments expected to make use of the platform are International Donor Agencies, Banks and Other Financial Institutions, Venture Capital Firms, Large Enterprise Companies and most importantly MSMEs.

 

The manager disclosed that the key partners supporting the initiative are Center for International Private Enterprise CIPE, Department for International Development (DFID), other international donor agencies, financial institutions and service providers.

 

Okafor said that the platform was secure and compliant with the General Data Protection Regulation (GDPR) standards on data protection and covered the requirements needed to comply with the COSO 2013 framework.

 

“It includes segments such as having a controlled environment, risk assessments, controlled activities and information and communication.

 

A panel session headed by Mr Solomon Aderoju, chairman, Nigerian Association of Small and Medium Enterprises (NASME), agreed that more incentives could be used as a motivation tool to drive the usage of the platform amongt other benefits.

 

“MSMEs remain the backbone of major developed economies and they are important contributors to employment, economic and export growth.

 

“While MSMEs contribute 48 per cent of national Gross Domestic Product (GDP), account for 96 per cent of the private sector and 84 per cent of national employment; they are still faced with challenges hampering their growth.

 

“It is thus important for MSMEs to work towards thriving in this economy by differentiating themselves from the crowd and building processes on systems, not on individuals, in order to ensure sustainability,” he said.


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E-Business

Paga Hits N14tri Transactions Value in 15 Years

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Paga, a payments and financial services provider for Africa has processed transactions value to the tune of N14trillion in the last 15 years of its existence.

Tayo Oviosu, chief executive officer, Pagatech, said at a media interaction to mark the company’s 15 anniversary that 80 percent of the amount was done in the last five years.

“When we celebrated 10 years of our business that was five years ago, we have grown our transactions values by 7 times, across the three business arms of our operation which includes; consumer payments, platform as-a-services and super App for retailers.

“This has translated into job creation as we have created over 1,000 direct jobs in Ethiopia and in Nigeria and indirect jobs through our agent network to about 100,000 jobs, this is economic empowerment of Nigerians.

“Our desire is giving people financial freedom and making life possible for them and impacting on our community. We are really proud of our economic achievements and we are making sure that our customers get the best experience.

“We are super excited about what the future holds for our business. Our vision is a world where cash does not exist anymore. We ensure that our customers’ money is safe by complying with the highest global security standards.

“Our focus is on helping both consumers and sellers pay, get paid, and access financial services. We do this directly; and through our Platform-as-a-Service, which enables other third parties to leverage the deep infrastructure we have built for endless possibilities.

Oviosu, further explained the three business lines Paga has transformed into from a mobile money operator from inception to a financial services provider includes; Consumer payment: where anyone can open a Paga account from any type of phone, by download Paga App from Apple or android store or dial *242# from any type of phone device.

“With Paga app, you can fund the account, make payments and also have a physical Visa card or a virtual Visa card on the account. This gives you significant convenience over other bank accounts we have in the market today.

You can send money into that account from any bank account or walk into any bank branch to fund the account. You can as well go to any agent and fund or make transactions from the account,” he said.

He added that when he started the business 15 years ago, there was no infrastructure, “we had to build the required infrastructure to support the business. Two years ago, we opened our infrastructure to allow other technology companies to use it for their own business. We called this Platform as a Service. With Platform as a service we are serving 150 businesses who are using our infrastructure to execute their own businesses.

“The third arm of our business is what we called Doroki this a different brand which is super App for retail business. If you are a supermarket you use it to manage your inventory among others. This is the youngest arm of our business” he noted.


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FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

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Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by  Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.


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NITDA, ICF Train 100 Schoolgirls in ICT Skills

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The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


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