General News
Automation Key in Capital Market Resuscitation-Emmanuel
Amos Emmanuel, chief software architect/CEO, Programos Software Group, is first vice president, Information Technology (Industry) Association of Nigeria (ITAN) and member of other various industry Associations.
He also founder and president of Programos Foundation and national coordinator and designer of the SPACE4Nigeria – Strategic Planning, Acquisition and Control Education portal of the UN Infopoverty Initiative that now serve as the pivot for the Sustainable Development Goals (SDGs.
The polyglot programmer is the UN World Summit Award Eminent National Expert for Nigeria and has authored many software products including the most populous African capital market software called CloudIntegraeTrade and IntegraFixPro5.0 OMS (Order Management System) Software utilized by over 100 African stockbroking organizations mostly in Nigeria and Ghana. Emmanuel founded the eAfrica.
He spoke to peter ugwu on software and Nigeria’s IT sundry issues.
Initiatives to Resuscitate Software for the Stock Market
The Nigerian stock market has been one segment of the nation’s financial sector that we have offered services in the last 15 years.
In addition, we have, from inception, introduced indigenous software called INTEGRA2000+ now been changed to a new product that is 100% cloud-based called CLOUDINTEGRA eTRADE.
It is an investment and e-Trade software that will enable stock market operators in Nigeria and indeed Africa to offer daily online services in a very transparent manner to local and foreign investors.
These were actually the things that eluded the Nigerian investment community before now. Besides, the Nigerian Stock Exchange (NSE) has been developing a trading platform which calls for supporting software vendors to design fresh systems that can integrate the market with investors and dealers through a direct market access to the Nigerian Stock Market X-GEN FIXTrading Platform on daily basis and make investors trade directly, even from the comfort of their homes.
Programos Software Group has now being certified of the new IntegraFixPro5.0 OMS solution. This solution is the Orders Management System which empowers any stock market operator like the Dealer and customers to trade online over the new trading infrastructure.
Some of the benefits are that stock market brokers are able to offer transparent services.
Before now, investor do not know what transpires between their investment records, the stockbrokers, the Nigerian Stock Exchange (NSE), the Bankers, the Registrars and the Central Securities Clearing System (CSCS), as well as the Securities and Exchange Commission (SEC).
These are the major organs in the market. However, with information technology (IT), we have been able to provide more transparency in the processes that at no point can any of the players engage in anti-best practice without being noticed.
We all know that before now an investor gives a mandate before a broker can carry out a deal; if that rule was kept we would not have had cases in the news of a broker selling shares without the knowledge of the owner.
Some of the anti-best practices happened in the past because the regulatory rested on human beings and not necessarily on automatable standards which we now offer.
So, we have been able to use technology to mitigate risks in the market with the launch of CloudIntegra eTrade software.
CloudIntegraeTrade Software and IntegraFixPro5.0 will be on exhibition at the Nigerian Pavilion of the World Congresson Information Technology, WCIT 2014 in Guadalajara, Jalisco, Mexico, September 2014.
Automation of the Stock Market and Investors’ Confidence
Automation is going to mitigate the risks and make the investment climate safer. Sincerely, it is the best time for you to penetrate the market, because you might be hearing that the market is coming up. The operating rules have changed and are still changing.
At the Americas Fix Trading Conference this year in New York, we were made to understand that the FIX (Financial Information eXchange) is designed to satisfy the investor.
Going by the investors’ appetite for optimal returns, mandates have become more challenging for the human mind as of the stockbroker to cope with on the new trading platform. So it is now more technology processes than more people-oriented processes.
According to Mr. David Jiboye, the IntegraFixPro5.0 OMS director at Programos Software Group, “Given the machine-to-machine architecture, risks have become better controlled”. With our CloudIntegra eTrade Solution, you can now manage your investment account as a self-service, because the automation empowers you.
From your CloudIntegra eTrade Account portal, as an investor, you are not only able to post buy and sell mandates of equities and bonds; you are offered online investment advisory services especially on your portfolio.
By this, the software knows what your average cost of investment has been and can actually give you basic trigger pricing information from time to time, to know when to salvage a loss or get out of an investment when it is nose-diving too badly, and consolidate into cash position to either withdraw or pick more valuable investment options.
So, investors are now able to watch their growth on investments, optimize their gains, take profits at target return shitting points like 15%, 20% etc.
Entrepreneurship Initiatives to Aid Youth and School Leavers
Programos Software Group funds its Programos Foundation for a variety of initiatives in this area. We mentioned the graduate capacity building where we train for free and supply to the labour market freely.
Programos Foundation in conjunction with Seone Foundation Inc, Houston have met with the Vice Chancellor and management of Bells University for the establishment of a Campus-to-Corporate Initiative for its undergraduates.
This will span more universities. In Programos, we have records of students who have done their SIWES through us become best students upon graduation.
Local Software Developers and International Certifications
The story of certification shows that Nigerians are top there! It is not about certification. You can get all the certifications in the world without achieving anything. Even in IT, Nigerians are top in any professional certification.
You can get all that abroad, on getting back to the country you get frustrated.
Sincerely, you need an environment where you offer a service and the market measures you based on your competence.
In my segment of the economy, I have made sure that no foreign software plays any role there.
Let the public make their research if there were foreign software running in the Nigerian stock market in the last 15 years.
And I also operate outside Nigeria, but who recognizes that? Who is even encouraging one? No body! Instead, people, especially government officials will be eavesdropping, searching one ways to frustrate you.
You have institutional degeneracy all over the place. As an entrepreneur, I run on generator at an average of almost 15 hours daily; nobody cares what your pains are.
It is unfortunate to see government functionaries embezzle tax payer’s money yearly without anybody doing something substantive.
We are not begging for funds, but space to operate, and the right conscience to know that they owe us the demand for our services and products.
In every aspect of IT innovation, Nigerians are innovative. Now, we have come to realize that we are worth more than what we are getting.
I feel, one day, we will get a government that will take advantage of what Nigeria has as human resources. We may not appreciate it today, but very soon, we cannot shy away from the fact Nigeria has very solid resources.
It is unfortunate we have generations in Nigeria that one produces only for the other to consume and not replicate or re-produce. That is why someone can steal my intellectual property without recourse.
In the media and entertainment industry in particular, it is a nagging issue. Our entertainment industry is facing a situation of almost extinction. Is that industry not the one we believed so much in? They create values and never reap from it. Who cares for their protection and continuous promotion?
Tomorrow we make noise of about million or billion dollar intervention fund that are never seen to address the challenges of the industry.
There is quite a lot the IT industry can do for this country. In the World Summit Award, my concerns are about the Governments themselves; offering e-services to its people and being accountable to the services.
IT will take care of tourism problems of this country. When we talk about IT inclusion, we have a larger population of this country in places that are not yet developed. We talk about internet penetration, there are still areas people do not understand the meaning of the word Internet.
There are some places that as you travel and cross a particular boundary all your signals are lost. We have a major challenge; we need innovations that will address the societal issues.
We need to bring those who are out of the system to understand there are areas or things they need to embrace. Outside that, we need to protect the Nollywood; we should not play with that industry. You talk about the Nigerian capital market today, it is and is going to be the wonderful work of technology that will revive the market that has defied many regulatory interventions; it takes technology to restore investors’ confidence, make the players to do the right for the public to see the transparency and decide to get back or not. Is it in health, aviation, education, you name it, innovation spans across several aspects of life.
Nigerians innovators crave to become actors of the socio-economic development of their societies.
A new MasterCard report has predicted that Africa’s AI economy will more than triple in five years, reaching $16.5 billion by 2030 from $4.5 billion in 2025.
The whitepaper by the global payments technology company, with a presence in over 50 African countries, identifies responsible adoption, stronger data infrastructure, and aggressive skills development as the three pillars that will determine who benefits.
Mark Elliott, division president for Africa at MasterCard, emphasised that Africa stands at an inflection point, where smart technologies have the potential to make a real difference in people’s lives.
He likened AI’s potential to the continent’s leap into mobile money, which bypassed traditional banking infrastructure and brought millions into the financial system.
“Digital innovation, particularly AI, can drive real change on the ground by empowering communities and building a future where everyone participates in the new economy,” Elliott said.
The in-depth study flags several African frontrunners in AI adoption. South Africa tops the list, blending advanced infrastructure with strong research capabilities. It points out that Kenya is making strides with practical AI solutions, from credit scoring to healthcare services in local languages.
Nigeria’s vibrant start-up scene also gets a strong mention for attracting significant venture capital, while Morocco’s strong push in healthcare, agriculture, and energy, underpinned by bold national digital strategies, is another key driver.
Elliott stressed that success depends on powering electricity access, digitisation, and ensuring AI is fuelled by diverse, high-quality local data.
He added that inclusive transformation needs everyone involved, from small businesses to large corporations, policymakers, and communities. “The only good AI is responsible AI,” said Elliot.
Greg Ulrich, MasterCard’s chief AI and data officer, said Africa’s relationship with technology is one of active innovation, pointing to mobile payments as a homegrown success.
“AI is accelerating this transformation, reshaping how people live, work, and connect,” he said. Ulrich described MasterCard’s fraud detection systems, trained in cities like Lagos, Nairobi, and Johannesburg, as proof that global expertise and local talent can combine to deliver secure, real-time services.
He also cautioned that with scale comes responsibility. “Trust is earned, one transaction at a time,” Ulrich said.
He believes that with one of the world’s youngest populations, Africa’s next challenge is turning strategy into delivery, building infrastructure, nurturing talent, and ensuring AI lifts all communities.
The fellows of MTN Media Innovation Programme (MIP) Cohort 4 recently embarked on an immersive tour of Huawei’s Innovation Center, Cloud Service Centre, and Network Support Centre in Lagos, as part of their ongoing industry exposure sessions.
L-R: Isaac Ogugua-Ezechukwu, Programs Administrator, Professional Education, School of Media and Communications, Pan-Atlantic University; Blessings Mosugu, Vice President, MTN Media Innovation Programme Cohort 4; Gavin Geng Xiaoyan, Director of Solution Sales\Chief Technical Officer, Huawei; Vanessa Ukamaka Richard, Secretary, MTN MIP Cohort 4 and Dr Chike Mgbeadichie, Programs Director, Professional Education, School of Media and Communications, Pan-Atlantic University, during the July session of the MTN Media Innovation Program held at the Huawei office in Victoria Island, recently.
At the Huawei Innovation Center, the fellows were introduced to a wide array of next-generation technologies. Demonstrations covered Huawei’s smart city solutions, advanced power technologies, cloud systems, and upgraded router and antenna designs. These solutions represent the core of Huawei’s contributions as a strategic partner in MTN’s journey from a connectivity provider to a digital enabler.
One of the highlights of the tour was a live demo of an AI-powered video generator, which transformed selfies into high-definition 30-second avatar-based videos. The videos, created and delivered within seconds via Bluetooth, showcased the real-time capabilities of 5G.
Speaking on how 5G is transforming digital lifestyle globally, the Deputy Managing Director, Marketing and Solutions at Huawei Nigeria, Gavin Geng, noted that “Huawei’s goal is to bridge the gap between global innovation and local demand by tailoring technology to meet Nigeria’s specific challenges. From delivering Nigeria’s first digital village alongside our partners, to launching Nigeria’s first local cloud service, we are committed to working with our customers to build infrastructure that serve both urban and underserved communities.”
He emphasised Huawei’s commitment to security and cutting-edge innovation, adding that “as an employee-owned company adhering to strict global security standards, we ensure that customers’ data and connectivity remain secure while they benefit from next-gen solutions such as 5G, AI, smart city technologies.”
The session underscored MTN’s readiness to meet the increasing demands of Nigeria’s data-driven population and support the country’s digital transformation goals.
Afterwards, the fellows received certificates to commemorate the visit and proceeded to the Huawei Service Centre. Spanning 4,000 square metres, the facility supports operations in telecoms, finance, transportation, power, and public service.
With a dedicated DevOps team, the centre customises its monitoring systems for different clients. It is ISO27001 certified, and all employees hold security certifications, reflecting its emphasis on data protection and operational excellence.
To wrap up the day, the MIP cohort was hosted to a dinner attended by MTN’s Chief Services and Sustainability Officer, Tobechukwu Okigbo. He encouraged the delegates to maximise the opportunity the programme offers and shared personal insights during an experience-sharing moment.
The National Identity Management Commission (NIMC) has given its Diaspora Front-End Partners (FEPs) 48 hours to obtain and activate their National Identification Number (NIN) enrolment licences on its newly upgraded diaspora enrolment platform.
The commission said the deadline followed the successful completion of a major upgrade aimed at improving the security, efficiency and reliability of NIN registration for Nigerians living abroad.
According to NIMC, the upgraded platform will offer a more seamless and robust service to diaspora applicants, ensuring faster processing and better data protection. To prepare for the transition, all FEPs have been onboarded onto the new system and taken through intensive training to equip them with the knowledge needed for effective management of the platform.
Once compliant partners activate their licences, Nigerians abroad will be able to access NIN enrolment services through them without disruption.
“The Commission apologises for any inconvenience the upgrade process might have caused and has set up a dedicated service team to resolve all issues related to diaspora enrolment,” NIMC said in a statement signed by Dr. Kayode Adegoke, its head of corporate communications.
Diaspora applicants experiencing difficulties have been advised to contact the commission for prompt assistance.
While the new system rolls out overseas, NIN enrolment continues across all centres in Nigeria, with applicants able to locate their nearest centres on the NIMC website. Nigerians at home or abroad can also modify their NIN data via the online self-service portal.
NIMC further encouraged NIN holders to download the NIMC NINAuth App on iOS or Google Play to instantly verify their NIN, control who can access their information, and enjoy secure authentication services.
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