Connect with us

General News

COMESA Bankers to Gather in Nairobi for Innovation Boost

Published

on

Kindly share this post

The first decade of the new millennium has probably been the most traumatic ever for the international banking industry. Added to that, the African region’s mobile banking boom opens up a wide range of new security threats for the industry. And from a commercial point of view, the banks are under siege – on the one hand by mobile operators who have stolen the initiative from them in mobile banking, and on the other hand by microfinance institutions, who are leading the way in banking the unbanked.
All these dynamics provide a rich source of content for this year’s Banking & Mobile Money COMESA conference taking place in Nairobi over 24-25 February 2010. Over 80 international and local banking, microfinance, mobile payment and data security experts will be making presentations in plenary and specialist track sessions, sharing their knowledge with colleagues from the region’s financial services sector. The theme of the conference, “Leadership through Innovation” reflects the leading position the region has assumed in banking innovation, particularly in mobile banking and money transfers. The programme aims to inspire bankers and others in the financial services sector to achieve even greater levels of innovation.
Although Kenya escaped the worst of the international financial meltdown, there are important lessons to be learnt in terms of governance, security and credit management and these topics will be covered in the Risk Management track.
Another major focus of the conference is mobile banking and over the two days of the conference 13 innovators and practitioners in the region’s mobile money explosion will share their experiences in rolling out their services – as well as their visions for future development.
The conference will be opened by  Uhuru Kenyatta Kenya’s deputy prime minister and Minister of Finance,. Th opening session will also be addressed by Professor Njuguna Ndung’u, Governor of the Central Bank of Kenya, who will be sharing the Bank’s vision for the future evolution of the financial services sector.
The event has the backing of key stakeholders in the sector, including the PayNet Group as platinum sponsor – a position it has held since the conference was launched as an annual event three years ago. Other sponsors include Sun Microsystems, Technology Associates, S1, Copy Cat, Mobicash, Kenya Data Networks, Smoothtel and Misys. Supporting organisations include The Kenya Bankers Association, the Kenya Commerce Exchange Service Bureau, Grameen Foundation, The Kenya ICT Board, The Association of Microfinance Institutions of Kenya and the International Association of Money Transfer Networks.
The Bill & Melinda Gates Foundation will hold a Breakfast Briefing on the second day of event, focussing on “Success factors in Mobile Banking”. Sean Moroney, chairman of AITEC Africa, the organisers of the event, said: “We are delighted to have support from organisations like the Gates Foundation in our endeavour to provide a powerful educational platform for the banking sector, to inspire future innovation in banking the unbanked and delivering improved services for clients and every level.”

 


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

General News

Court Remands Akujobi, Ex Access over alleged Theft of N294.5m

Published

on

Kindly share this post

Chinonso Akujobi, former staff of Access Bank in Lagos, has been remanded in Ikoyi prison after she was arraigned on a five-count charge bordering on stealing to the tune of N294.5m.

Court Remands Akujobi, Ex Access over alleged Theft of N294.5m

Akujobi who is being prosecuted by the Economic and Financial Crimes Commission (EFCC) was arraigned before Justice I.O. Ijelu of the State High Court sitting in Ikeja, Lagos.

EFCC alleged that Akujobi stole the money between January and December 2025 while under the employment of Access Bank Plc.

As stated in one the charges, the defendant stole the money through unauthorized payments from the general ledger of Access Bank to her account number 0036668871 with the name Chinonso A., Uchechi A. and Florence A., thereby committing an offence of stealing, contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.

‎The defendant pleaded “not guilty“ to the charges when they were read to her.

Advertisement

‎In view of this, S.M.Yabo, prosecution counsel, asked the court for a trial date and also prayed for the remand of the defendant in a Correctional centre.

Justice Ijelu, thereafter, adjourned the case till October 8, 2026, for the hearing of the bail application and the commencement of trial.

The Judge also ordered that the defendant be remanded in the Ikoyi correctional Centre.

Kindly share this post
Continue Reading

General News

NSIB Faults Runway Identification, Reveals Cockpit Disagreement in Asaba Jet Incident

Published

on

Kindly share this post

The Nigerian Safety Investigation Bureau (NSIB) says the flight captain of the VMO Aero aircraft that landed on a roadway near Asaba Airport in Delta State told investigators that the observer pilot mistakenly identified the paved road as the runway before touchdown.

The bureau disclosed this in a preliminary report released on Thursday on the June 10 incident, which prompted the Nigeria Civil Aviation Authority (NCAA) to ground the private jet.

The aircraft had seven people on board, including the pilot-in-command (PIC), second-in-command (SIC), an observer pilot, a cabin crew member and three passengers.

According to the report, the aircraft was cleared by Air Traffic Control (ATC) to approach Runway 11 at Asaba Airport after the crew requested a right orbit.

The crew initially discontinued the approach, executed a missed approach and repositioned for a second landing attempt.

Advertisement

NSIB said the crew reported that the aircraft’s navigation systems indicated it was correctly established on the published RNAV Runway 11 approach.

“The PIC and SIC reported that the observer pilot identified the paved surface ahead as the runway,” the report stated.

However, the observer pilot gave investigators a different version of events.

According to NSIB, he said the aircraft remained inside cloud until late in the approach and that the Ground Proximity Warning System (GPWS) repeatedly issued “TERRAIN, TERRAIN, PULL UP” alerts.

He also said he observed a telecommunications mast directly ahead and instructed the flight captain to abandon the approach and climb immediately.

Advertisement

The bureau further disclosed that a cabin crew member reported that one of the passengers became concerned after overhearing discussions among the pilots and asked whether one of them was undergoing training. The passenger was reportedly reassured that all three pilots on board were experienced captains.

NSIB said no abnormal events were reported in the cabin before touchdown.

The aircraft eventually landed at about 8:57 a.m. on an under-construction paved roadway near Asaba Airport instead of the designated runway.

The bureau said its investigation into the incident is ongoing, while the preliminary report highlights conflicting accounts among the cockpit crew over the circumstances that led to the erroneous landing.

Advertisement

Kindly share this post
Continue Reading

General News

EU warns Meta over addictive Facebook, Instagram designs, threatens fines

Published

on

Kindly share this post

European Union has warned Meta Platforms Inc. that it could face a significant financial penalty unless it changes what regulators describe as the “addictive design” features of Facebook and Instagram.

EU warns Meta over addictive Facebook, Instagram designs, threatens fines

The European Commission issued the warning in preliminary findings released on Friday, saying Meta had failed to sufficiently address risks posed by its platforms, particularly to children and vulnerable users.

The Commission said features such as infinite scrolling, personalised content recommendations and automatic video playback were designed in ways that encouraged excessive engagement with the platforms.

EU Executive Vice-President for Tech Sovereignty, Security and Democracy, Henna Virkkunen, said protecting the physical and mental well-being of European citizens should be a priority for social media companies.

The Commission said Meta should consider introducing design changes, including disabling autoplay and infinite scrolling by default, providing effective screen-time reminders and adjusting recommendation systems to reduce the focus on maximising user engagement.

Advertisement

The findings were issued under the European Union’s Digital Services Act (DSA), which sets obligations for major online platforms to address risks associated with their services.

Meta, however, rejected the Commission’s conclusions, saying it disagreed with the findings but would continue engaging with European regulators.

The company said it had already implemented measures aimed at protecting younger users, including Teen Accounts that allow parents to manage screen time limits and restrict access during night hours.

The EU said its investigation, which began in 2024, found that existing time-management tools on Facebook and Instagram could easily be bypassed, while parental controls required technical knowledge that limited their effectiveness.

Regulators also expressed concerns over children’s nighttime use of the platforms and the possibility that features such as Reels and Stories could encourage compulsive behaviour.

Advertisement

If the Commission’s preliminary findings are confirmed, Meta could face a fine of up to six per cent of its annual global revenue under the DSA.

The warning comes as the EU steps up efforts to strengthen online safety measures for children, with an expert panel established by European Commission President Ursula von der Leyen expected to present recommendations on protecting minors online.

Several EU member states, including France, have also supported discussions on restricting social media access for children, following Australia’s decision to ban users under 16 from accessing social media platforms.

Meanwhile, the Commission is continuing a separate investigation into whether Meta’s recommendation algorithms create “rabbit hole” effects by directing users towards increasingly extreme content.

Advertisement

Kindly share this post
Continue Reading

Trending