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Card Expo-Africa Key to African Renaissance in e-Payment-FG
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.’
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Stakeholders Applaud NiRA’s Leadership in Strengthening Nigeria’s Internet Infrastructure

The Nigeria Internet Registration Association (NiRA) successfully convened its 18th Annual General Meeting (AGM), bringing together key stakeholders from across Nigeria’s internet, technology, and business ecosystem following the successful conclusion of its Annual General Meeting (AGM) held at Radisson Blu Hotel Ikeja.

The meeting, marked by robust participation from members, policymakers, industry leaders, and civil society representatives, centred on NiRA’s continued performance, strategic direction, and the imperative of deepening Nigeria’s digital identity through the .ng country code top-level domain (ccTLD).
Attendees at the AGM gave a resounding commendation to NiRA’s leadership and management team for their steadfast commitment to managing and sustaining the .ng domain registry. Members praised the Association for delivering operational excellence, maintaining registry stability, and driving meaningful growth in an increasingly competitive digital landscape.
NiRA was specifically recognised for its efforts in strengthening Nigeria’s digital ecosystem providing a secure, reliable, and trusted infrastructure that underpins online identities for businesses, institutions, and individuals across the country.
Members highlighted the Association’s resilience in the face of global and local headwinds, noting that its consistent performance has reinforced confidence in Nigeria’s internet governance framework.
Stakeholders reaffirmed the strategic importance of the .ng domain as more than a technical resource it is a sovereign national asset and a cornerstone of Nigeria’s digital identity. With Nigeria ranking among Africa’s largest internet markets, the .ng domain represents a critical enabler of economic growth, digital commerce, and institutional credibility.
The AGM underscored that every Nigerian business, public institution, and innovator operating online has both an opportunity and a responsibility to adopt the .ng domain as their primary digital address reinforcing national identity while contributing to the growth of a locally anchored internet ecosystem.
A significant outcome of the AGM was a unified call from stakeholders for stronger policy intervention to drive the adoption of .ng domains among Nigerian businesses. Participants emphasised that organic growth, while encouraging, must be complemented by deliberate institutional frameworks that make .ng the default choice for new and existing businesses.
Stakeholders specifically called for enhanced collaboration between NiRA and the Corporate Affairs Commission (CAC), urging the integration of .ng domain registration into the business incorporation and renewal process. Such alignment, members argued, would create a seamless pathway for businesses to establish their digital presence under a Nigerian domain from inception.
Additional recommendations included the development of government-backed policy frameworks that incentivise .ng adoption, the creation of regulatory guidelines that recognise .ng as a standard for digital credibility, and public sector leadership in adopting .ng domains to signal confidence in Nigeria’s digital infrastructure.
Executive Perspectives
Mr. Adesola Akinsanya; President, Nigeria Internet Registration Association (NiRA), said: “.ng is more than a domain it is Nigeria’s digital identity. Our focus remains on strengthening trust, driving adoption, and ensuring that Nigeria fully benefits from its internet ecosystem. Every organisation that registers under .ng is not just building a website; they are investing in the sovereignty and credibility of Nigeria’s presence in the global digital economy.”
Mrs. Oluwaseyi Onasanya; Chief Operating Officer (COO), NiRA, noted: “We have continued to build a resilient and secure registry that supports businesses, innovators, and institutions across Nigeria. Our priority is to deepen adoption, expand our stakeholder base, and create greater value throughout the .ng ecosystem. The growth trajectory we are on reflects the hard work of our team and the trust our members continue to place in us.”
Mr. Biyi Oladipo; Member, Board of Trustees, NiRA, stated: “The Nigeria Internet Registration Association as a model multi-stakeholder institution that has sustained effective collaboration with government over the years. He noted that this approach reflects a strong and successful framework, positioning Nigeria more prominently on the global digital map.”
Mr. Muhammed Rudman; Past President, NiRA, said: “Adoption of .ng among new businesses must be driven through policy and institutional alignment. The frameworks already exist what is needed is coordinated political will and cross-agency collaboration to translate intent into action,”
Looking ahead, NiRA outlined an ambitious agenda focused on expanding public awareness of the value of .ng domains, deepening partnerships with government agencies, financial institutions, and the private sector, and accelerating digital economy participation among Nigerian businesses.
The Association reaffirmed its commitment to investing in infrastructure resilience, cybersecurity, and stakeholder education ensuring that the .ng registry remains a world-class, trusted foundation for Nigeria’s digital future. NiRA also signalled its intent to lead strategic conversations at regional and continental levels, positioning Nigeria as a model for internet governance in Africa.
As Nigeria accelerates its digital transformation agenda, NiRA stands as a steadfast pillar in the nation’s internet ecosystem. The Association’s unwavering commitment to excellence, governance, and stakeholder value positions it not only as the custodian of Nigeria’s domain registry, but as a strategic partner in building a prosperous, inclusive, and globally competitive digital economy.
NiRA remains resolute in its mission to drive .ng adoption, champion internet governance, and ensure that Nigeria’s digital infrastructure continues to serve as a launchpad for innovation, investment, and national development.
News
FG Owes World Bank $2.08Bn in 2025 – Report

Nigeria’s debt to World Bank’s International Development Association (IDA) rose by $2.08 billion in one year to $19.89 billion as of December 31, 2025, according to an analysis of external debt stock data released by the Debt Management Office (DMO).

The figure represents an 11.7 per cent increase from the $17.81bn owed to the global lender as of December 31, 2024.
So-called IDA is a member of the World Bank Group, headquartered in Washington, D.C. offering concessional loans and grants to the world’s poorest developing countries.
According to the report, Nigeria’s total debt to the IDA rose to roughly $18.2 billion to $18.7 billion by the end of 2025, making it the third-largest borrower globally from the IDA, behind Bangladesh and Pakistan.
DMO data showed that Nigeria’s IDA debt rose from $16.56 billion in 2024 to $18.51 billion n in 2025, an increase of $1.94 billion or 11.73 per cent.
International Bank for Reconstruction and Development (IBRD) exposure also increased from $1.24 billion to $1.38 billion, representing an increase of $141.84million or 11.41 per cent.
The increase means World Bank loans accounted for 38.36 per cent of Nigeria’s total external debt stock of $51.86 billion, as of the end of 2025.
News
World Health Summit Regional Meeting Opens in Nairobi, Focuses on Stronger African Health Systems

The 2026 World Health Summit Regional Meeting opened in Nairobi on Wednesday with a strong call for coordinated action to build more resilient health systems across Africa.

The summit, hosted by Aga Khan University in partnership with the World Health Organization (WHO), Kenya’s Ministry of Health, and the Africa Centres for Disease Control and Prevention (Africa CDC), attracted over 2,000 health leaders, policymakers, researchers, and development partners from more than 50 countries.
The meeting is themed: “Reimagining Africa’s Health Systems: Innovation, Integration and Interdependence.”
Speaking at the opening ceremony, Kenya’s President, William Ruto, urged African governments, health institutions, donor agencies, and development partners to move away from fragmented interventions and adopt system-wide reforms anchored on local ownership, strategic investment, and accountability.
Ruto said Africa must reposition itself within the global health architecture by leveraging its strengths and becoming a source of scalable health solutions rather than being viewed solely through the lens of persistent challenges.
“This imbalance is neither sustainable nor tenable. It calls for a decisive shift from fragmented, piecemeal interventions to comprehensive, system-wide transformation backed by coherent strategy, domestic and international financing, and accountable institutions,” he said.
President of the World Health Summit, Prof. Axel Pries, described the Nairobi meeting as a reflection of Africa’s growing influence in shaping global health priorities.
He said the summit was designed to convene leaders across sectors and regions to translate policy discussions into practical actions that strengthen health systems globally.
Also speaking, Prof. Lukoye Atwoli, International President of the World Health Summit Regional Meeting and Dean of Medical College East Africa at Aga Khan University, said the summit marked a shift in Africa’s role in global health governance.
“For too long, Africa has been the subject of health conversations held elsewhere. Today, African institutions, researchers, and policymakers are co-authors of global health policy,” Atwoli said.
President and Vice Chancellor of Aga Khan University, Dr. Sulaiman Shahabuddin, said despite ongoing challenges such as climate change, chronic diseases, inadequate funding, digital inequality, and workforce gaps, Africa’s health sector is increasingly better positioned to integrate systems, deploy technology, and develop talent for quality healthcare delivery.
WHO Regional Director for Africa, Dr. Mohamed Yakub Janabi, said the summit offered an important opportunity to strengthen collaboration and advance universal health coverage through robust primary healthcare systems.
According to him, discussions at the summit are expected to generate a practical blueprint for building a more coherent and integrated health ecosystem across the continent.
Kenya’s Principal Secretary for Public Health and Professional Standards, Mary Muthoni, said global health security must remain a top priority for governments.
“Global health security is not a luxury; it is a prerequisite for national stability. We must move from reactive crisis management to proactive pandemic preparedness,” she said.
Director-General of Africa CDC, Dr. Jean Kaseya, stressed the need for Africa to finance and build resilient health systems at scale to strengthen health security and reduce dependence on external support.
He said the Nairobi meeting provides a strategic platform for mobilising investments, strengthening partnerships, and advancing African-led healthcare solutions.
The summit will feature over 80 sessions focused on health financing, workforce development, digital health innovation, climate and health, and strengthening universal health coverage.
The meeting continues over the coming days with further discussions expected on emerging health challenges and long-term healthcare resilience across Africa.
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