E-Business
Elegbe, Interswitch Boss Charges Entrepreneurs on Clear Business Model

Mitchell Elegbe, Interswitch GMD, has advised entrepreneurs to have a clear business model before seeking start-up capital.

The Interswitch boss made this remark during a two-hour Webinar Startup Insight series themed ‘Why startup capital is necessary, but not sufficient’. The online session was attended by different entrepreneurs.
Elegbe stated that when looking for capital for business, entrepreneurs should bear in mind the problem they intend to solve. He said it is important to know the appropriate business model required.
He also advised entrepreneurs to critically think about their business models, stating: “The bigger the problem you want to solve, the more coherent your business model should be.”
Narrating his experience prior to the emergence of Interswitch, Mitchell said he recognized Nigeria had payment problems but he had very little knowledge of the banking industry having cut his teeth career-wise in the telecommunications and oil & gas sectors.
However, because he understood the problem he was trying to solve, he went for different pitches and scaled through.
Elegbe also spoke about the concept of Greiner growth curve in business which posits that businesses will go through six stages of evolving growth and five revolutions of crisis stages.
He explained that the ability to move from one stage to the other is what will make a business. He advised entrepreneurs to consider partnerships later in business, noting that at that time a name would have been made for the brand.
He concluded by encouraging business owners to recognize their times and seasons. According to him, if a business is run successfully for two years, then the most dangerous part has been overcome. The next challenge will be how to scale the business.
“Business owners should not do the same thing for a long time. They should be dynamic in their line of thought. Business owners should see difficult times as a golden opportunity to make their brands better. May you see your golden opportunity”, he added.
The programme which is in its second edition is a 12-week Accelerator programme organized by Asset & Resource Management Holding Company Limited (ARM) in partnership with the Ventures Platform. It is designed to fund and support compelling Fintech startups solving key problems in the financial services industry.
It was also initiated to unlock verticals and new markets, thereby changing how users access and consume financial services in Africa through the Ecosystem Dialogue, and Startup Insight Series.
The Ecosystem Dialogue Series (EDS) is a platform for conversations between policymakers, advocators and members of the startup community, to discuss policies and innovations that startups can leverage; while Startup Insights is a mentorship series that brings experienced entrepreneurs, investors, and corporate professionals (with prominent success stories) together with startup founders, to explore deep industry and entrepreneurship insights.
Other speakers at the Ecosystem Dialogue series included Aituaz Kola-Oladejo, Executive Director, Financial Services Innovators and Henrietta Bankole-Olusina, Managing Director, ARM Financial Advisers.
E-Business
NITDA Takes Over National Digital Architecture System

Nigeria has taken a major step toward strengthening its digital governance framework as the National Information Technology Development Agency (NITDA) officially assumes control of the Nigeria Government Enterprise Architecture (NGEA) infrastructure.

The handover ceremony held in Abuja, marks the culmination of a high-level partnership with the Korea International Cooperation Agency (KOICA).
This transition signals a shift from fragmented IT projects to a unified, disciplined approach to national digital investment.
The NGEA initiative forms a core part of the e-Government Masterplan 2.0 (Ne-GMP 2.0), aimed at establishing a unified and structured approach to managing government IT investments and digital resources.
The framework is designed to ensure that technology deployment across public institutions aligns with national priorities while improving efficiency and accountability.
With the system now operational, government agencies are expected to adopt more integrated digital processes, allowing seamless data sharing and interoperability.
This is anticipated to reduce duplication, strengthen risk management, and translate policy objectives into measurable digital outcomes.
Over the past two and a half years, Nigerian technical experts worked closely with their Korean counterparts to develop the architecture framework, create reference models, and execute pilot programmes in key institutions.
These include the National Identity Management Commission, Nigeria Customs Service, Nigeria Immigration Service, and NITDA.
Officials say the NGEA represents a shift from fragmented digital efforts to a more coordinated, citizen-focused system.
The infrastructure is hosted by Galaxy Backbone Limited, providing a secure and reliable platform for nationwide deployment.
Looking ahead, NITDA is expected to work with government stakeholders to expand and sustain the system, while the Federal Ministry of Communications, Innovation and Digital Economy will provide policy guidance to ensure its adoption across the country.
E-Business
FG Shifting Focus to “Meaningful Connectivity” to Drive Inclusion – Minister

Bosun Tijani, minister of Communications, Innovation and Digital Economy, has said the government is shifting focus from expanding access to ensuring “meaningful connectivity” that drives economic growth and inclusion.

Bosun Tijani, minister of Communications, Innovation and Digital Economy
The minister made the statement on Friday while addressing stakeholders at the inauguration of board members of the Universal Service Provision Fund (USPF) in Abuja.
He said that although Nigeria had made significant progress since the introduction of GSM services, millions of people, particularly in rural and underserved communities, remain either unconnected or unable to fully benefit from digital services.
Dr Tijani highlighted ongoing investments in digital infrastructure, including plans to deploy 90,000 kilometres of fibre optic network and nearly 4,000 telecom towers nationwide.
He said initiatives under the USPF had improved access through projects such as rural connectivity and digital facilities in schools but stressed that the next phase must prioritise effective usage.
“It is not enough to connect a community. We must ensure that schools can teach with digital tools and that small businesses can access market opportunities,” he said, citing a pilot project in the Kura community where connectivity has enhanced access to communication, education and healthcare.
Aminu Maida, executive vice chairman, Nigerian Communications Commission (NCC) also called for a shift towards meaningful connectivity, noting that while data usage had grown significantly, it remained concentrated in urban areas.
According to him, recent data shows that telecom usage has increased by about 160% over the past two years, largely driven by urban demand.
“When we drill down, we see that a lot of that growth is actually in urban centres. So, the gap between those who are not connected or not meaningfully connected is growing,” he said.
Dr Maida added that the trend underscored the need for the USPF board to intensify efforts to bridge both access and usage gaps across the country.
Both officials emphasised the importance of collaboration, sustainable investment models and improved digital literacy to ensure that connectivity translates into real economic benefits for Nigerians.
E-Business
Jury Finds Meta, Google Liable for Woman’s Social Media Addiction

A jury in Los Angeles has found technology companies, Meta and Google liable for contributing to a young woman’s social media addiction, in a case being described as a landmark ruling.

The 20-year-old woman, identified only as Kaley, argued that she became addicted to Google’s YouTube and Meta’s Instagram from an early age due to their attention-driven design features.
According to her testimony, she began using YouTube at the age of six after downloading the app on her iPod Touch to watch videos about lip gloss and online games.
Kaley told the court that she joined Instagram at nine, bypassing parental restrictions put in place by her mother, and spent extended periods on social media.
The trial, which lasted about a month, with arguments and evidence from both sides.
Jurors also heard testimony from Mark Zuckerberg, chief executive, Meta and Adam Mosseri, Instagram head.
However, Neal Mohan, YouTube chief executive, did not testify.
The jury found that the companies were negligent in the design of their platforms and failed to adequately warn users about potential harms. Meta and Google were ordered to pay the woman $3 million in damages.
Jurors also recommended additional punitive damages, including $900,000 against YouTube and $2.1 million against Meta, according to company spokespersons.
The jury apportioned 70 per cent of the responsibility to Meta and 30 per cent to YouTube.
Kaley was present in the courtroom when the verdict was delivered, alongside parents of other teenagers who say they were harmed by social media use. Both companies said they plan to appeal the decision.
“We respectfully disagree with the verdict and will appeal. Teen mental health is profoundly complex and cannot be linked to a single app. We will continue to defend ourselves vigorously as every case is different, and we remain confident in our record of protecting teens online”, a Meta spokesperson said.
José Castañeda, Google spokesperson, said the case misunderstands YouTube, which is a responsibly built streaming platform, not a social media site.
General News3 days agoAnti Graft Agencies Raise Alarm over Rising Crypto-Linked Financial Crimes
E-Financial1 day agoCBN bars large‑ticket loan defaulters from banking services in tough new crackdown
General News1 day agoARN Rejects Medical Bill over Attempt to ‘Scrap’ Profession
Telecom1 day agoNIGCOMSAT Supports Startups Growth with the Launch of Accelerator 3.0
Telecom1 day agoFG Unveils Digital Economy Research Fund Scheme
News1 day agoStakeholder says AI is Crucial to Nigerian Data Centres Amid Persistent Grid Collapse
News1 day agoMeningitis Kills a Quarter Million People a Year -Study
- General News1 day ago
Nigeria Advances Digital Governance as NITDA takes over NGEA Portal


















