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COVID-19: CSCS Activates Business Continuity Plan, Goes Fully Digital

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Central Securities Clearing System (CSCS) Plc, a critical financial market infrastructure (FMI) provider has reiterated its commitment to continued delivery of efficient service through the challenging coronavirus (COVID-19) pandemic, as it activates its business continuity plan and goes fully digital.

According to the messaging to all its participants and partners, exchanges, brokerage firms, custodians and registrars, CSCS is leveraging its digital channels to meet all requests at this period, as it joins global institutions in the campaign for social distancing.

Notably, the X-alert, an SMS sent by CSCS on all transactions carried out on the Nigerian

Stock Exchange is also being used to educate investors on the need for social distancing and safety precautions against the coronavirus (COVID-19), with hashtags such as #StaySafe, #WashHandsAlways, #SocialDistancing and #WeAreDigital.

Whilst it is campaigning social distancing by suspending services to walk-in clients, who are enjoined to use the digital channels, including customer contact centre lines (070 CALL CSCS – 070022552727 or 01448 0500), chat platforms, web portals, social media, Mobile Apps and Data Exchange platforms amongst others, CSCS’ client service and broader support to the efficient functioning of the capital market, remains strong and active as always.

Speaking on COVID-19, Mr. Haruna Jalo-Waziri, Chief Executive Officer, CSCS Plc hinted that “as the Financial Market Infrastructure for the Nigerian Capital Market, we are fully committed to efficient delivery on all our services, as we work with all stakeholders to reinforce the resilience and liquidity of the Nigerian capital market, even at this globally challenging period.

“Having activated our business continuity plan, which has long been envisaged as a part of our crisis management framework, we are fully operational, even as a notable percentage of our staff have been empowered to work remotely from home.

“More importantly is our campaign on social distancing, better hygiene practice and other precautions against the contagious spread of COVID-19, as the safety of everyone is paramount to us, just as we have activated all relevant measures to ensure the safety of all depository assets”.

As a part of its strategy of dealing with the pandemic, CSCS has since suspended all business travels and temporarily physical meetings, including its internal sessions, thus leveraging digital technologies such as Zoom, Webex, audio conference calls amongst others.

Staff are enjoined to remain alert to credible news and strictly follow all relevant directives and guidance from the State and Federal Governments as well as local and global health authorities such as the National Centre for Disease Control, Ministry of Health and World Health Organization etc.

Whilst any staff who may have returned or come in contact with a returnee from any of the countries with more than 50 incidences in the past 14 days have been asked to self-isolate, staff are also enjoined to quickly contact relevant health authorities in the event that they observe any indicative symptoms.

While assuring its stakeholders of the availability of CSCS’ services running seamlessly, the Chief Executive Officer noted that CSCS had implemented earlier protocols including the daily internal sensitization on preventive tips to all staff along with situational updates on COVID-19 incident reports and management; increased hygiene measures through deep and more frequent cleaning of its offices, provision of sanitizing gels to staff and promotion of recommended personal hygiene practices.

“We thank you for your understanding as we all rise up to stem the spread of this virus and adapt to new challenges arising from the pandemic. Our focus is on helping you and ensuring continuity of our services as a financial market infrastructure. We are committed to our core values of SECURE and will continue to keep you updated as we jointly navigate these times. Please stay safe” Jalo-Waziri concluded.


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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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