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Dr. Obi Bags Life Time Achievement Award for Pioneering Digital Payment

Dr. Valentine Obi, founder and group chief executive officer of eTranzact Global was at the weekend in Lagos honoured with the Lifetime Achievement Award for pioneering end-to-end card and digital payments at the 12th Beacon of ICT Distinguished (BoICT) lecture series and awards.

Dr. Valentine Obi, founder and group chief executive officer of eTranzact International
The BoICT Lecture series, widely regarded as the most prestigious annual event available in the ICT industry in Nigeria, is designed to explore efforts to put Nigeria on the global information and communications technologies map.
And the awards are the Oscars of ICT Awards.
Dr. Obi was honoured for his contributions to Nigeria’s economy particularly in the electronic payment sector.
The event attended by over 80 chief executives of top companies in Nigeria had as it chairman Engr. Ikechukwu Nnamani, president, Association of Telecommunications Companies of Nigeria (ATCON) and CEO, Medallion Limited; and Mr. Bimbo Abioye, second vice president, Institute of Software Practitioners of Nigeria (ISPON), among others.
Muhammed Rudman, president of Nigeria Internet Registration Association (NIRA) and chief executive Officer of IXPN and chair IPV6 Council of Nigeria, delivered the keynote address with the theme “5G: Exploring New Frontiers for Superior Service Delivery”
At the event, Dr. Obi was recognized as a champion for African Innovation in Technology and for establishing eTranzact businesses in Ghana, Cameroun, Nigeria, South Africa, United Kingdom.
Dr. Obi, a tech-entrepreneur, is also the founder and architect of XCEL Inc, the newest challenger bank in London, United Kingdom.
XCEL enables users to open a full UK Bank Account (Sort Code and Account Number) in less than five minutes, with complete UK regulatory compliance of KYC and AML (Anti Money Laundry) processes embedded.
XCEL African roadmap is well on its course with some countries already signed on.
Dr. Obi, is also the founder of KYIARA, the first Factoring technology platform in Africa.
Kyiara, provides all the stakeholders in the factoring sector cost saving, convenience, secure but transparent means to conduct factoring business within the continent.
He has an extensive experience in Information Technology sector and has served in various capacities both locally and internationally as a project director of various IT projects, including World Bank assisted projects in different countries.
In 2003, Dr. Obi became the first African to receive the coveted Computerworld Honors Gold Medal of Achievement in San Francisco, USA, for innovative and visionary use of information technology to produce and promote positive, social, economic and educational change.
By this, his work is listed in over 150 libraries around the world, including Harvard, etc.
In January 2008 his company received “The Most Innovative Product of the Year” award from the Central Bank of Nigeria.
Other awards received includes: 2012 Best Mobile Payment Initiative Award in South Africa; 2014 Mobile Payment Solution of the Year Award by LEAD Africa, etc.
Just after AfCFTA was signed off by the African head of states, Valentine was one of the two Nigerians appointed to the Advisory Council of African Trade Gateway (ATG) by Afreximbank in Egypt.
ATG is a vehicle for accelerating intra-African trade and ultimately support the attainment of the goals of the African Continental Free Trade Agreement.
ATG recognizes the critical role digital technology will play in facilitating intra-African trade, boosting access to trade finance and diversification of African trade from commodities to manufacturing and services.
Our role in the Council, is to provide advice and guidance on the strategic ATG roadmap.
In addition to his love for technology and applications, Dr. Obi is also involved in the development of the educational sector, he is a pioneer member of the Board of Regents of Covenant University and a lecturer at the Word of Faith Bible institute, WOFBI.
As one of his give back to his community, he started JIL Foundation with his wife, to help the education of the less privileged around his sphere of influence. He is a Provincial pastor with the Living Faith Church Worldwide, a member of Young Presidents Organization (YPO) / World Presidents Organization (WPO) and a member of the Institute of Directors (IOD), Nigeria.
Dr. Obi holds a Doctorate degree from International School of Management, Paris, France.
He also holds an MBA from Instituto de Empressa, Madrid, Spain and an alumnus of the Harvard Business School, Boston, USA
mber of National Payment Technical Committee.
News
IFC Invests in Lagos Free Zone to Support Industrial Growth and Economic Diversification

IFC has announced an equity investment of up to $50 million in Lagos Free Zone Company to support the development and expansion of Nigeria’s first deep-sea port-based, private special economic zone, the Lagos Free Zone.
This investment is designed to address critical infrastructure gaps, attract local and global businesses, and contribute to Nigeria’s economic diversification agenda.
The funds will support the first phase of the 860-hectare Lagos Free Zone, focusing on land development, industrial facilities, and logistics infrastructure.
Owned by Singapore based Tolaram,a diversified multinational group with operations across Africa, Asia, and Europe, Lagos Free Zone strategically integrated with the Lekki Deep Sea Port and will provide an integrated industrial ecosystem for efficient import and export operations, serving as a gateway for Nigeria’s integration into global value chains.
With Nigeria’s economy projected to grow by 3.7% by 2026, investments in infrastructure are vital to ensuring sustainable growth. When fully occupied, Lagos Free Zone is expected to create approximately 30,000 direct, indirect, and induced jobs, while contributing significantly to Nigeria’s GDP upon completion.
“This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.
“We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.” said, Dahlia Khalifa, IFC Regional Director, Central Africa and Anglophone West Africa.
The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)-certified buildings and climate-resilient infrastructure.
“IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.
“Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development.
“We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC”. Added, Adesuwa Ladoja, MD/CEO at Lagos Free Zone Company
Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International.
This investment aligns with Nigeria’s ongoing economic reforms and IFC’s strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both of which prioritize economic diversification, the development of competitive clusters, and investments in climate-resilient infrastructure.
By addressing infrastructure bottlenecks and enhancing connectivity, IFC’s investment in Lagos Free Zone will unlock new opportunities for businesses and strengthen Nigeria’s position as a regional economic leader.
News
NOTAP to Relaunch Fruit Juice Production Initiative

National Office for Technology Acquisition and Promotion (NOTAP) is set to revive the technology transfer project on fruit juice production.
This initiative, originally launched in collaboration with the Raw Materials Research and Development Council (RMRDC), is based in Paiko, Niger State, North Central Nigeria.
During a courtesy visit to the RMRDC headquarters in Abuja, Dr. Obiageli Amadiobi, director general, NOTAP hinted at this development while leading the office’s management team.
According to a statement provided to journalists by Solomon Nshem, deputy director, Public Relations, NOTAP, the fruit juice project, which began in 2019 with a pilot plant, has enormous economic potential for the country, particularly when domesticated in the six geopolitical zones of the country, and as such, needs to be revived immediately.
According to Dr. Amadiobi, the project will succeed and align with the current administration’s Renewed Hope Agenda, which aims to create wealth, jobs, and self-reliance for the country by combining the technological expertise of both organisations.
In accordance with Presidential Executive Order No. 5, the Director General also urged cooperation with the RMRDC on a number of its flagship initiatives, including the NOTAP Research Laboratory Upgrade Project, Intellectual Property Technology Transfer Offices (IPTTOs), the NOTAP Industry Technology Transfer Fellowship (NITTF), and the Database of Nigerian Professionals.
Prof. Nnanyelugo Ike-Muonso, director general, RMRDC, responded that he is impressed with the project’s concept but that an audit of the pilot plant’s status and a determination of the business operation requirements are necessary.
According to him, the council can also work with NOTAP to upgrade its labs, train RMRDC employees on intellectual property rights, and conduct research and development commercialisation drives with universities.
During the conference, it was decided that in order to ensure the project’s success and cooperation, both agencies’ employees must visit the Paiko site on-site for evaluation and other follow-up meetings
The partnership between NOTAP and RMRDC is anticipated to improve intellectual property creation, R&D commercialisation, technology transfer, and industry connections for research in order to accelerate the country’s technological progress.
News
Senate Expresses Shock over Billions of Naira missing from FG Coffers

Senate has raised the alarm that billions of naira have left the federal government’s coffers unaccounted for, with critical revenue-generating agencies refusing to honour its Summons.
The Senate has however expressed anger as these revenue-generating agencies undermine its summon to answer queries raised by the Office of the Auditor General of the Federation (OAGF) about financial transactions.
Addressing Journalists yesterday in Abuja, Senator Aliyu Ahmed Wadada, SDP, Nasarawa West, Chairman, Senate Committee on Public Accounts, explained that the unaccounted funds form part of the resources required for development, stressing that affected agencies needed to account in line with legislative provisions that empower the parliament to investigate them.
According to Wadada, the Auditor General’s report which was submitted to the Committee has unravelled rots in some agencies of government, that it takes only irresponsible parliament not to conduct public investigations, even as he was appalled at how these agencies conspire together and have taken the decision not to honour Senate Committees’ invitations.
The Chairman, Public Accounts Committee has named the Central Bank of Nigeria, Nigeria Customs Service, Federal Inland Revenue Service, FIRS, the Nigerian National Petroleum Company Limited, NNPCL as among the top government organisations that have vehemently refused to honour the Senate when invited.
Wadada has however threatened that the Senate would report heads of these agencies to President Bola Ahmed after another magnanimous opportunity.
Flanked at the briefing by all members of the Committee, Wadada said: “All efforts to get Nigerian Customs Service to the table to know how did this happen, what is the way forward. We are still where we were from the day before yesterday to now.
“The Central Bank of Nigeria, I have a course on one of the issues that I’ve got to do with Central Bank of Nigeria, I have a course to take it on the floor of the Senate.
“It is important for Nigerians to know, under the so-called Ways and Means. What happened under Ways and Means why Central Bank of Nigeria, debited borrower and credited borrower.
“Consolidated revenue funds account is government’s account. And the TSA is also the government’s account. And in charging the interest, instead of the interest to be charged to the treasury account, they went again ahead to charge the Treasury account.
“They went again ahead to Treasury account. charge Consolidated Revenue Funds account which now have amounted to over 6 trillion.”
According to him, there was correspondences between the Committee and Minister of Finance and Coordinating Minister of the Economy and the Debt Management Office, DMO because of the faulty documents which they were not ready to answer to and have been evasive, adding that the report of the Auditor General for the Federation which the affected agencies are running away from covers 2019 till date.
The chairman of the Committee disclosed that Nigeria Satellite Communications Limited had been invited nine times, but failed to appear, Nigeria Police Force; Nigeria Civil Aviation Authority, among others as snubbing Senate’s invitation.
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