Broadcasting
Demystifying ePayments: How Policies and Regulations Can Make Them Work for Everyone
By Abang Emenyi, Head, Growth & Marketing, OnePipe
The sights and sounds of a bustling local market in Lagos on a busy Saturday are something to behold. Traders energetically marketing their goods, buyers engaging in spirited negotiations over prices, money exchanging hands in quick succession – it’s a vibrant tapestry of entrepreneurship. Yet, within this lively picture lies an untapped transformative opportunity: electronic payments (ePayments).
In the modern digital age, ePayments have the potential to reshape these scenes, imbuing them with a level of efficiency, safety, and speed that cash transactions simply cannot match. But the journey to this promising digital landscape is not without its hurdles. To make ePayments work for everyone – the users, businesses, and merchants – an intricate framework of sound policies and regulations is needed.
One of the critical aspects of this regulatory framework is financial inclusion. The digital transformation should not cater only to the privileged few but must be accessible to everyone, irrespective of their location or financial standing.
So, the narrative of financial inclusion must shift from being a mere goal to a critical policy requirement. This involves policies that promote digital literacy, ensure investments in digital infrastructure across urban and rural areas, and encourage businesses to adopt ePayments.
Interoperability is another essential component of a robust ePayment system. The seamless interaction between different payment systems maximizes the convenience of ePayments. Hence, regulations promoting interoperability, such as open banking policies, are crucial.
These ensure that regardless of a user’s location or preferred payment service, their transactions can be processed smoothly and efficiently.
Then there’s the significant matter of cybersecurity. As we embrace digital technologies, we must also acknowledge the reality of cyber threats. These threats pose considerable risks to ePayments due to the sensitive nature of financial information.
Addressing these risks requires robust cybersecurity regulations that offer clear guidelines to financial institutions and fintech companies for securing their platforms. Such regulations are key to safeguarding users’ funds and personal data, and in turn, fostering trust in ePayment systems.
However, these regulations and policies must be born out of consultations with all stakeholders – users, businesses, and merchants. This inclusivity in policy-making ensures that the resulting regulations are not only robust but also practical and sensitive to the unique needs of the Nigerian market.
It’s also crucial to remember that drafting policies is just the first step; effective enforcement is equally important. Regulators must have both the capacity and the resolve to enforce these policies.
They need to monitor compliance by financial institutions and fintech companies, and any non-compliance needs to be addressed promptly and firmly.
ePayments, in the grand scheme of things, can ignite a financial revolution in Nigeria. They can stimulate economic activity, foster financial inclusion, and revolutionize the way we transact.
However, to unlock this potential, we need comprehensive, thoughtful, and inclusive regulation. With the right policies in place, ePayments can become a win-win solution for all stakeholders, transforming Nigeria’s financial landscape and propelling the nation towards a prosperous future.
This is our golden opportunity to shape the future of finance in Nigeria, and with meticulous planning and execution, we can ensure that ePayments truly work for everyone.
Broadcasting
Anambra State Government Launches SolutionLens to Drive Transparency and Citizen Engagement
Anambra State Government has launched SolutionLens, a technology-driven platform aimed at enhancing transparency, accountability, and citizen engagement in governance.
The platform, developed through a collaborative effort by the Ministry of Budget and Economic Planning, the Ministry of Information, and the Anambra State ICT Agency, was unveiled on Thursday, May 15, 2025, at the Solution Innovation District (SID) Building in Awka.
Speaking at the launch, Mrs. Chiamaka Nnake, Honourable Commissioner for Budget and Economic Planning, described SolutionLens as a democratic tool that simplifies the Open Government Partnership (OGP) process.
She emphasized its role in planning, budgeting, and fostering investor confidence through community-based feedback mechanisms.
In her remarks, Mrs. Ogochukwu Orji, the State Coordinator of OGP, noted that SolutionLens is designed to shine a light on public projects, empowering citizens to ask questions, hold the government accountable, and ensure resources are used for the common good.
Key Features of SolutionLens
Centralized digital hub for government projects
Interactive maps with a user-friendly interface
Live chat feature to connect citizens directly with MDAs
A live demonstration of the platform was conducted, followed by the formal inauguration of MDA focal persons, who will ensure the platform remains updated and responsive.
Participants commended Governor Charles Chukwuma Soludo, CFR, for this forward-thinking initiative, describing SolutionLens as a game-changer in governance.
The government urged citizens to actively engage with the platform and spread awareness, emphasizing that this initiative will safeguard the integrity and prosperity of Anambra State for generations to come.
Benue State Governor, Rev. Fr. Dr. Hyacinth Iormem Alia, has been named among the “50 Most Valuable Personalities (50MVPs) in Nigeria’s Digital Economy 2025,” a prestigious recognition celebrating visionary leadership in technology-driven governance.
Governor Alia’s administration has prioritized digital inclusion and ICT development, introducing groundbreaking initiatives that position Benue State at the forefront of Nigeria’s digital economy. Under his leadership, the government has established three key institutions: the Ministry of Communications, Innovation & Digital Economy, the Benue State Digital Infrastructure Company (BDIC), and the Benue State Digital Infrastructure Services Management and Enforcement Agency (BENDISMEA).
Since assuming office, Alia has launched several digital initiatives, including training over 40,000 civil servants in e-governance tools and equipping 10,000 youths with digital skills. Additionally, the government has set up 276 e-commerce hubs across council wards to support local businesses and young entrepreneurs.
The BDIC, a core driver of Benue’s tech transformation, has spearheaded projects in digital financial inclusion, AI education, and broadband expansion. The state has also partnered with the Digital Bridge Institute (DBI) to establish digital training hubs in all local government areas, targeting 23,000 trainees annually.
Alia’s recognition as one of Nigeria’s top digital leaders will be formalized at the West Africa Convergence Conference (WACC) 2025, scheduled for May 22 at The Colosseum, Lagos. The annual event, organized by Knowhow Media, brings together policymakers and innovators shaping Nigeria’s digital future.
Speaking on the selection process, Dr. Sola Afolabi, Chairman of the 2025 Nomination Committee, praised Alia’s contribution, describing his digital initiatives as “transformational steps that set the benchmark for technology-driven governance.”
Previous editions of the 50MVPs in Nigeria’s Digital Economy have honored notable figures such as Minister of Humanitarian Affairs, Prof. Nentawe Goshwe Yilwatda, and NDPC CEO, Dr. Vincent Olatunji.
Governor Alia’s reforms reflect a broader shift towards digital governance in Nigeria, highlighting the potential of technology to drive inclusive economic growth and efficient public administration.
Creative Economy Ministry Secures $300M Investments Commitment
NITDA DG says its Community IT Centres Should be a Catalyst of Change
African Women Hit Hardest as Mobile Internet Gender Gap Persists
NITDA, CISCO Empower Youth with Digital Skills
Anambra State Government Launches SolutionLens to Drive Transparency and Citizen Engagement
General News3 days agoNITDA Advocates Strategic Partnership in Research to Unlock Nigeria’s Digital Potential
Telecom2 days ago₦800 Billion Infrastructure Plan Set to Boost MTN’s Network Quality Nationwide
Telecom3 days agoGSMA Urges Governments to Prioritise Affordable Spectrum Costs to Support Global Digital Growth
E-Business2 days agoNITDA, CISCO Empower Youth with Digital Skills
Telecom3 days agoTelcos Worry over Possible 5 Percent Tax Return
Telecom2 days agoAfrican Women Hit Hardest as Mobile Internet Gender Gap Persists
News2 days agoCreative Economy Ministry Secures $300M Investments Commitment
Telecom3 days agoSophos Launches MSP Elevate Program to Boost MSP Growth and Profitability