Connect with us

News

Card Expo-Africa Key to African Renaissance in e-Payment-FG

Published

on

Kindly share this post

Remi Babalola, minister of state for finance, has said that the Card Expo Africa 2008 has been specially tailored to focus on how Africa moves towards developing the African renaissance by instituting financial systems hinged on large cross-border electronic payment models.

He spoke at the just concluded 2008 edition of Card Expo Africa Conference, with the theme ‘Succeeding with Cards Profitably’ in Lagos and harped on collaborative partnership among all players in the utilization of electronic payment cards.

The Card Expo Conference organized by Intermarc Consulting Limited, is an annual event that emphasizes how African institutions and businesses can leverage on the rapidly increasing growth in the card and e-payment industry to add value profitably.

According to him, ‘there are up to seven different electronic payment channels in Nigeria namely Automated Teller Machine (ATM), Point of Sales Terminals, Mobile, Voice, Web, Interbank Branch and kiosks; and e-payments initiatives have been undertaken by indigenous firms, being stimulated by improvement in technology and infrastructure’.

Babalola added that developed countries have witnessed a shift towards electronic payment than any other mode, which has facilitated convenient, easy and fast business transactions; and that the Nigerian Vision 2020 will not be realized unless Nigerians begin today, to embrace electronic payment and reap its benefits.

‘Technological innovation has made more efficient, ICT-enabled payments system more accessible by removing the cost barriers’, said James Olekah, director, banking operations department, Central Bank of Nigeria.

He said that the removal of the cost barriers has facilitated the proliferation of non-banking organizations in the payment system landscape in Nigeria which as a result, has driven international payments and improved trade tremendously.

He acknowledged an increase in the number of organizations accepting electronic payments in the country, as people are getting more educated and sophisticated being aware of the benefits of e-payment in terms of timeliness and efficiency; identifying examination councils and institutions of learning as major beneficiaries of e-payment in Nigeria.

Electronic payment of government suppliers, Person to Person payments through the mobile telephony infrastructure, electronic collection of individual and corporate taxes, Automated Clearing House direct debit of consumer bills payments, according to Olekah, are the key initiatives outlined for implementation in the Payments System Vision 2020.

In his address, the chief executive officer, National Sports Lottery Plc, Dr. Odunlami Kola-Daisi noted that the west has recorded success with the use of electronic cards; stating that cards keep money in banks where they belong for effective redistribution to areas where it is needed.

Commending the Point of Sales (PoS) terminals for being the channel that most contributes to ‘cashlessness’ in today’s world, he acknowledged the security benefit of carrying cards instead of cash; as there will be a reduction in the rate of robbery and better tracking of people’s movement by government.

Speaking on the future of e-payment in Nigeria, Aigboje Aig-Imoukhuede, group managing director, Access Bank Plc, said ‘Increasing reliability in services from major telecom companies: PoS, Internet and Mobile payments service providers; set the stage for even steeper upward trends in e-payment operations in Nigeria and Africa. The statistics for Nigeria alone mirror the emerging trends in Africa, underlining the reality that the focus on e-payment solutions must be sustained as a strategic imperative by all stakeholders in the payments system.’


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

NIGCOMSAT Adopts Government’s Performance System

Published

on

Kindly share this post

Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

NIGCOMSAT Adopts Government’s Performance System

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.

According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.

Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.

She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.

In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management,  expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.

She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.

The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.

The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:

• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service

• Service culture and workplace attitude in the Nigerian public sector

• Implementation of the Performance Management System in NIGCOMSAT

• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector

The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.

By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.


Kindly share this post
Continue Reading

News

Nearly 90% of Organizations Prefer Outsourced or Hybrid Models for their SOC

Published

on

Kindly share this post

Most companies choose to outsource at least part of their Security Operations Center (SOC), with a significant number adopting SOC-as-a-Service (SOCaaS), according to global research by Kaspersky.

This strategic move enables organisations to benefit from round-the-clock protection, ensure compliance with regulatory standards and leverage advanced cybersecurity solutions and qualified expertise that are often beyond their internal capabilities.

As cyberthreats become increasingly sophisticated, organisations are rethinking how they build and operate their Security Operations Centers. With this in mind, Kaspersky carried out a comprehensive global survey to identify the main motivations, strategic goals, and potential challenges associated with its planning and implementation¹.

The findings of this research revealed that 64% of companies plan to outsource part of their SOC, combining internal capabilities with external expertise.

Meanwhile, over a quarter of respondents (26%) are ready to fully implement an SOC-as-a-Service (SOCaaS) model. By contrast, only 9% plan to build their SOC entirely in-house, highlighting the growing challenges of maintaining round-the-clock monitoring and attracting qualified specialists.

SOC outsourcing enables organisations to delegate selected SOC functions or even the entire operational cycle to a trusted external provider. This approach can include a variety of services:

Design and architecture of the SOC.

    Deployment and maintenance of SOC technologies.

    Monitoring and analysis by external security analysts.

    Consulting and training services.

Full SOCaaS delivery, where the provider handles detection, investigation and response around the clock.

Most companies prefer maintaining strategic tasks internally, whilst leveraging external teams and advanced technologies for operational and highly technical workloads. Among organisations planning to outsource SOC functions, the most commonly delegated tasks to third-party providers included solution installation and deployment (55%), solution development and provisioning (53%), and SOC design (47%).

When engaging external SOC specialists, companies also showed a clear preference for augmenting specific roles, with first-line analysts (61%) and second-line analysts (52%) being the most in-demand among external specialists. These figures illustrate that companies focus more on frontline and intermediate security tasks, such as monitoring and responding to threats.

Why do organisations choose SOC outsourcing?

The leading motivator for SOC outsourcing is the need for 24/7 protection (55%) – an operational requirement many internal teams cannot sustain alone. Another highly cited benefit is reducing workload on internal IT security specialists (47%), enabling teams to focus on strategic tasks.

Additionally, access to advanced solutions and technologies (42%) and external support to ensure compliance with regulatory requirements and standards (41%) further drive the decision to outsource, highlighting the value of specialised expertise and cutting-edge tools such as XDR, MDR, MXDR and others.

Budget optimisation is important for only 37% of companies – indicating that the primary value of outsourcing lies in improved protection, not just cost savings.

“The trend towards outsourcing SOC functions, whether fully or partially, is primarily driven by the necessity for enhanced operational focus and strategic agility. By shifting routine and technical tasks externally, organisations are able to concentrate on high-value activities such as strategic decision-making and orchestrating responses to sophisticated threats.

“Moreover, this approach often results in considerable cost efficiencies, allowing for optimised resource allocation. Ultimately, this model transforms the SOC into a critical strategic capability, directly contributing to business continuity,” comments Sergey Soldatov, Head of Security Operations Center at Kaspersky.


Kindly share this post
Continue Reading

News

DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

Published

on

Kindly share this post

Defence Headquarters (DHQ) has made public the full names of 16 officers of the Armed Forces of Nigeria indicted by a Special Investigative Panel over alleged serious misconduct, including an alleged coup plot against President Bola Tinubu.

DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

The officers suspected to be involved in the coup plot include a brigadier general, a colonel, four lieutenant colonels, five majors, two captains, a lieutenant, a lieutenant commander and a Squandron Leader.

Major General Samaila Uba, director of Defence Information, disclosed this on Monday, stating that the panel had concluded its investigation and established that the affected officers had cases to answer.

According to him, the indicted officers will face a military Court Martial in line with established procedures and existing regulations.

Major Gen. Uba said the probe examined the circumstances surrounding the conduct of the officers and identified actions “inconsistent with the ethics, values and professional standards expected of members of the Armed Forces of Nigeria.”

He stressed that the exercise was purely disciplinary and aimed at preserving internal discipline, cohesion and operational effectiveness, adding that the Armed Forces remain loyal to the Constitution and Nigeria’s democratic order.

  • Brigadier General Musa Abubakar Sadiq (Nasarawa, 44th Regular Course)
  • Colonel M. A. Ma’aji (Niger, 47th Regular Course)
  • Lieutenant Colonel S. Bappah (Bauchi, 56th Regular Course)
  • Lieutenant Colonel A. A. Hayatu (Kaduna, 56th Regular Course)
  • Lieutenant Colonel Dangnan (Plateau, 56th Regular Course)
  • Lieutenant Colonel M. Almakura (Nasarawa, 56th Regular Course)
  • Major A. J. Ibrahim (Gombe, 56th Regular Course)
  • Major M. M. Jiddah (Katsina, 56th Regular Course)
  • Major M. A. Usman (Federal Capital Territory, 60th Regular Course)
  • Major D. Yusuf (Gombe, 59th Regular Course)
  • Major I. Dauda (Jigawa, DSSC 38)
  • Captain I. Bello (DSSC 43)
  • Captain A. A. Yusuf
  • Lieutenant S. S. Felix (DSSC)
  • Lieutenant Commander D. B. Abdullahi (Nigerian Navy)
  • Squadron Leader S. B. Adamu (Nigerian Air Force)

 


Kindly share this post
Continue Reading

Trending