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EBS: Experts Decry Country’s Careless Data Enrolment Process

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Technology experts at eNNovators Breakfast Series (EBS) unanimously called for leveraging of identity brokers to contain the careless manners with which identity enrolment in the country is carried out by several government agencies and telcos.

To them, the manner in which data are capture in the country pose serious threat that can compromise identities of millions of Nigerians.

And smart organizations in the country are now paying less attention to certificates. They pay more attention to potential employees’ social media identity footprint. It is believed that a person’s true identity/personality is better glimpsed through his online identity.

Also, companies around the world have evolved necessary legal framework and regulations to unleash the potential of the data processing market, while Nigeria is arguably the country with largest number of silos identity enrolment schemes and yet it cannot identify its citizens.

eNNovators Breakfast Series (EBS) is a quarterly breakfast event. It is specially packaged for the Dreamers, Drivers and Doers (3Ds) of technology business in financial services industry across Africa.

EBS offers opportunities to network, learn and plan strategically. The theme of this series is “Identity Is The New Money. Quarterly, leading industry Thought Leaders meet in an intimate and relaxed environment to create new relationships and promote their organisations.

According to Sola Fanawopo – event director (EBS), “When you go into Shoprite at Lekki Shopping Mall and pay with your MasterCard, Visa or Verve Card, it’s an identity transaction. The terminal in Shoprite establishes that you have access to a line of credit that means that Shoprite will be paid.

“No actual money moves between your debit card and the Shoprite till. On the other hand, when you buy an apple from a market stall and pay for it with a N100 note, the stallholder doesn’t need to waste any time or money trying to establish who you are, because he doesn’t need to trust you. He just needs to trust the Naira note, which he self-assays.

“As a thought experiment, then, imagine that cash vanishes and we interact through identity. In that case, identity becomes the key to transactions and a crucial individual resource that needs to be looked after by responsible organizations.

“This is the idea behind the Digital Asset Grid put forward by the Innotribe team at SWIFT, the worldwide interbank messaging service, at last year’s SIBOS. Whether you think DAG is the right specific approach or not, there’s something to be said for begin strategic planning around the transition to identity-based transactions.

“What does all this mean at a macro level? It means that the action in the payments world will shift further toward identity over the coming years. What is Nigerian bank approach to the global thinking? -Is the national e-ID and Bank Verification Number (BVN) configured and comprehensive enough to meet the evolving requirements? -Is there any opportunity for e-Signatures and related online trust services in Nigeria? -Are there opportunities for private and public players (such as mobile operators, insurers, banks, Lagos State government, the Immigration service, FRSC) to encash the identity information they store? -Can they become identity brokers?”

To this end, the experts said that Nigeria firms have the capacities and capabilities to exploit the business if ID management if the right regulations is put in place.

The constitution empowers several government agencies to do identity enrolments and these have led to duplications of identity databases across the MDAs.

The participants resolved that “The telcos should take a cue from banks and digitized their SIM card enrolment processes such that subscribers would not need to fill papers that could fall into the hands of unscrupulous elements that could use the identity for criminal purposes.

 “Government should encourage the establishment of identity brokerage services,  “banker for data” or “ISP for identity services“ I-Brokers is  trusted third party that helps individuals and organizations share private data the same way banks help exchange funds and ISPs help exchange e-mail and files.

 “I-Brokers, when licensed will help bridge the gap between relying (RP) party and identity service provider (IDP) by providing public infrastructure for digital identity, security, and privacy using the open standard data interchange protocol. Besides, I-Brokers will alleviate the number of integrations required between RPs and IDPs.

“Government should make life easy for consumers of ID services by promoting the concept of “Connect to One, Connect to All”

“Stakeholders in ID management industry in collaboration with government should allow evolution of standards for interoperability, security, dispute resolution, and un-traceability or un-deniability of ID.

“Government should enact data privacy law to protect consumers’ personal information and ensure that they have the confidence to take advantage of benefits of the ever-changing marketplace.

“IT firms should exploit the opportunities of absence of ID management platforms to invest in identity management services so that local competence can be developed in the industry.

Some of the speakers are Adebisi Shonubi, MD/CEO, NIBSS; Femi Williams, MD/CEO Chams Plc; James Agada, MD/CEO CWG and Chinenye Mba-Uzokwu, MD/CEO, Infographics, who moderated the discussions that followed.

 


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Cybervergent Expands to Three New Markets

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Cybervergent has launched version 3.0 of its artificial intelligence (AI)-native posture management platform and expanded operations into Kenya, Ghana, and SA.

The move, according to the company, introduces automated risk verification for enterprises and aims to position Africa as a force in digital governance technology.

It goes on to say the latest platform upgrade introduces continuous posture management, replacing traditional point-in-time governance, risk, and compliance reporting with real-time verification systems.

An AI engine independently verifies 99.9% of audit and monitoring findings before they appear on enterprise dashboards, according to Cybervergent.

It says risk management, compliance, audit, and data security operations are integrated into a unified system built for cloud and on-premise environments.

According to  Cybervergent, the platform maps more than 4 500 controls across frameworks, including the Nigeria Data Protection Act (NDPA), International Organisation for Standardisation (ISO) 27001, and System and Organisation Controls (SOC) 2.

Cybervergent says the rollout of its first South African customer validates the platform’s readiness for highly regulated enterprise markets and strengthens its expansion strategy across Africa’s leading technology and financial hubs.

The company is also adopting a channel-first deployment model, working with local partners and system integrators in Lagos, Accra and Johannesburg to scale verified security infrastructure for enterprises navigating increasingly complex regulatory demands.

“We built verification into the architecture,” said Ayomide Daniels, co-founder and chief scientist at Cybervergent. “If a finding is not traceable back to source documentation, it does not reach the dashboard.”

Cybervergent rebranded from Infoprivacy in late 2023 to reflect its shift towards AI-automated cybersecurity.

The start-up previously focused on data privacy compliance in the West African market before pivoting to its current integrated posture management model.


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FG Bans Honorary Degree Holders from Using ‘Dr’ Title, Warns of Academic Fraud

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Federal Government has directed recipients of honorary doctorate degrees to stop using the title “Dr.” before their names, as part of efforts to protect the integrity of academic qualifications and curb the misuse of honorary awards.

FG Bans Honorary Degree Holders from Using ‘Dr’ Title, Warns of Academic Fraud

Minister of Education, Tunji Alausa

Minister of Education, Tunji Alausa, announced the directive after the approval of the new policy by the Federal Executive Council (FEC).

Alausa said the measure was necessary to address the growing abuse, commercialisation and politicisation of honorary degrees in some tertiary institutions across the country.

He explained that honorary doctorates are symbolic recognitions of outstanding contributions to society and do not equate to earned academic qualifications obtained through rigorous study, research and examination.

“Recipients of honorary doctorate degrees are not entitled to use the title ‘Dr.’ as a prefix to their names in official, professional or academic engagements,” he said.

According to the minister, awardees may instead indicate the honorary distinction after their names using formats such as D.Litt (Honoris Causa), LL.D (Honoris Causa) or other approved honorary designations.

Under the revised policy, only universities with active doctoral programmes will be permitted to confer honorary doctorate awards.

The government also restricted recognised honorary awards to four categories: Doctor of Laws (LL.D), Doctor of Letters (D.Litt), Doctor of Science (D.Sc), and Doctor of Humanities (D.Arts).

In addition, all honorary degree certificates must clearly carry inscriptions such as “Honorary” or “Honoris Causa” to distinguish them from earned academic degrees.

The minister warned universities against indiscriminate conferment of honorary degrees, noting that institutions found violating the directive would face sanctions from the National Universities Commission and the Federal Ministry of Education.

He said the policy was part of broader reforms aimed at restoring credibility to Nigeria’s higher education system and ensuring academic titles are not misrepresented for personal, political or financial gains.

Observers say the development could reshape the long-standing culture where public office holders, business executives and celebrities often adopt the “Dr.” title after receiving honorary awards.


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Africa Fintech Revenues to Hit $65 billion by 2030 – Report

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African fintech revenues are projected to expand 13-fold to approximately $65 billion by 2030, marking the continent as the world’s fastest-growing digital finance market.

The “Beyond Payments: Unlocking Africa’s Second FinTech Wave ” report, released by Boston Consulting Group at the Inclusive FinTech Forum in Kigali, indicates the sector is shifting from transactional inclusion to scalable, infrastructure-driven systems.

While Sub-Saharan Africa accounts for 74% of global mobile money volume, more than 50% of lending still occurs through informal channels, representing a massive gap for B2B payments and data-driven underwriting.

The opportunity now is to convert scale into sustained, institutional-grade growth, says the report. Markets offering regulatory clarity and interoperable infrastructure are becoming increasingly attractive to long-term capital.

Rwanda is highlighted as an example of deliberate institutional coordination that lowers the cost to scale for financial institutions.

Forward-looking regulation and the License Passporting Memorandum of Understanding between Rwanda and Kenya are cited as practical steps toward easing regional expansion.

Financial centres like the Kigali International Financial Centre play a critical role in this next phase by reducing uncertainty for banks and investors.

By combining regulatory clarity and Pan-African integration, they reduce uncertainty for banks, fintechs, and investors, and help position markets as credible, long-term investment destinations.

Africa’s next fintech phase will be led by financial institutions, the report notes. It goes on to say banks and regulated entities are becoming the primary customers of digital financial infrastructure, demanding platforms that align with their risk frameworks.

The report identifies five institutional priorities to sustain momentum: interoperable infrastructure, data-driven credit, regulatory coherence, trust, and resilience.

Building seamless wallet-to-bank integration will enable more efficient value movement, while transforming transaction data into AI-enabled underwriting models will help bridge the gap in SME lending.

Proportional licensing frameworks and predictable supervisory practices will lower the cost to scale for innovators. Furthermore, expanding cybersecurity capabilities will ensure the ecosystem remains reliable as digital usage grows.

Africa has demonstrated that fintech scale is achievable, and the next decade will be shaped by those markets that strengthen their institutional foundations, the report concludes.

 


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