Telecom
Experts harp on need to balance innovation with regulation in fintech space
At the recently held 10th edition of the Information Communications and Telecommunication Exhibition (ICTEL Expo), industry experts have emphasized the critical need to strike a balance between innovation and regulation in the fintech sector. The flagship event, organized by the Lagos Chamber of Commerce and Industry (LCCI), with the theme, ‘New Tech: Threats and Opportunities’, brought together key players in the technology and telecommunications and financial services industries.
Panelists at the 10th edition of the LCCI ICTEL Expo on the impact of regulations on fintech operations and innovation.
This year’s edition reflects Nigeria’s present journey towards a self-sustaining and productive digital economy; highlighting the transformative power of emerging technologies, mitigating the associated risks and exploring the endless possibilities they present.
The focus on fintech and telecoms sectors, evaluating their operations, challenges, yearnings and how to improve their services and productivity derives from the critical way in which they are deeply embedded in our lives today.
During a panel discussion on the impact of regulations on fintech operations and innovation, Partnerships Specialist Moniepoint Inc, Emmanuel Abadi, alongside other industry leaders, made a compelling case for increased collaboration across the fintech ecosystem.
Abadi stressed the importance of finding equilibrium between fostering innovation and implementing necessary regulations to ensure stability and consumer protection in the rapidly evolving fintech landscape.
“The regulatory landscape in Nigeria is evolving in a good way especially to the extent that we have hundreds of fintechs that are driving some of the mandates of the CBN today.
“At Moniepoint, we are very passionate about powering the dreams of millions of business owners and the individuals that they support and we have seen that financial inclusion has grown and thrived on the strength of existing regulation.
“We understand the imperative of using regulation as the lynchpin for driving stability in the nation’s economy at large, as well as the need to deepen consumer protection by building systems that will increase the public and regulator’s trust in the services that we as fintechs provide.
“Thankfully, there are channels in place that facilitate information exchange between the regulators and the players, and this has helped us a great deal,” Abadi noted.
Abadi also took the opportunity to showcase Moniepoint’s significant contributions to advancing the government’s socio-economic agenda, as evidenced by the launch of a definitive report around the informal economy, partnerships with the CAC, SMEDAN and Federal Ministry of Industry, Trade and Investment whilst underscoring the potential of fintech solutions to drive positive change in Nigeria’s financial services landscape.
The discussants also called on the need to have targeted guidelines that cater to the nuances and peculiarities of the fintechs and other innovative players, as against the current practice where majority of the rules in place are the same ones developed and applicable to the traditional financial institutions.
They maintained that regular and collaborative engagement between the fintechs and the regulators can fast track the formulation of regulatory guidelines that will be proactive and grow the industry.
The session which was moderated by Hakeem Olajide, CEO, Ascentree Services Ltd also had Ochanya Dan-Ugo, Director /Group Chief Risk Officer, Unified Payments and Seun Folorunso, AGM Projects & Relationships, FintechNGR as co-panelists.
The two-day expo featured a diverse array of activities, including special presentations, masterclasses, product demonstrations, exhibitions, and pitch sessions. These events provided attendees with valuable insights into the latest trends and developments in the information and communication technology sector.
Special guests at the event included President, Lagos Chamber of Commerce and Industry Mr. Gabriel Idahosa, FCA; Engr Leye Kupoluyi, Deputy President, LCCI; VP and Chairperson, Trade Promotion Board, Abimbola Olashore and Director-General, Chinyere Almona.
The ICTEL Expo, now in its tenth year, continues to serve as a crucial platform for industry stakeholders to exchange ideas, showcase innovations, and discuss the challenges and opportunities facing the ICT and fintech sectors in Nigeria.
As the fintech industry continues to evolve rapidly, the insights shared at this event underscore the importance of ongoing dialogue between innovators, regulators, and other stakeholders to ensure a thriving and responsible fintech ecosystem in Nigeria.
Organisations today face a data paradox: they need to make fast, intelligent decisions but are overwhelmed by large volumes of often unreliable information. With over 75% of business leaders under pressure to prove data’s value, the demand for trusted, actionable insights has never been greater.
What is agentic analytics
Agentic analytics allows users to collaborate with AI agents to speed up the entire data-to-action process. Instead of relying on static visualizations, analysts can use AI to automate tasks like data preparation and ETL (extract, transform, load processes), freeing them to focus on deeper analysis. Business leaders can ask natural language questions and get instant, reliable answers along with recommended actions. This makes data-driven decision-making easier and more efficient, removing the need for technical expertise and manual effort typical of traditional BI tools.
- Automate repetitive data tasks like data cleaning, transformation, and visualization generation, as well as the execution of complex, multi-step analytical workflows within and across different business areas. This builds on Tableau’s strength in simplifying complex data for users.
- Proactively deliver faster, more comprehensive insights by autonomously detecting hidden correlations, outliers, and trends that might be missed by human observation. This enhances Tableau’s focus on user-driven insights by providing AI guidance.
- Enable more contextual and effective action through natural language summaries, visualisations, and data-driven recommendations, insights delivered where people work with an enterprise-class workflow engine that enables users to kick off automated actions. This extends Tableau’s ability to drive action from data, making it more seamless within the Salesforce ecosystem.
Built on the trusted Salesforce Platform and leveraging the power of Data Cloud, Tableau Next delivers enterprise-grade performance, robust security, and flexible, zero-copy data integration for seamless data connectivity. Tableau Semantics, an intelligent semantic layer, provides a unified understanding of information, ensuring data consistency and accelerating the discovery of critical insights. The built-in workflow engine in Tableau Next seamlessly translates insights directly into actionable steps, dramatically accelerating the time to value. The key differentiator is the native integration with Agentforce, Tableau Next equips humans and AI agents with pre-built analytical skills to rapidly transform data into tangible business value, marking a significant leap forward in data-driven decision-making. It includes:
- Data Pro: Your Intelligent Data Prep Assistant. Instead of users manually cleaning up and changing data using complex steps (like in traditional ETL), Data Pro will give smart suggestions on how to do it and even automatically handle some of the complicated changes, saving time and effort.
- Concierge: Instant Answers in Plain Language. Get immediate, reliable answers to data questions. Sales teams, for example, can simply ask “What are my best sales opportunities?” and receive clear insights with recommended actions.
- Inspector: Proactive Data Monitoring & Insights. Continuously tracks your data for key changes, analyzes trends, and predicts improvements. Service teams can be instantly alerted to drops in customer satisfaction, enabling immediate action.
Ensuring Data Trust and Accuracy:
- Tableau Semantics: Tableau Semantics serves as the semantic layer, providing Tableau Next and Agentforce with a unified understanding of business data. By establishing consistent definitions and context, it enables AI agents to generate accurate and relevant responses.
Boosting Efficiency:
- Marketplace: Allows users to easily share and reuse data analysis components (like data assets, connections, metrics, visualizations, dashboards), saving time and ensuring everyone is working with the same information.
“Tableau Next helps businesses achieve faster, more impactful results with their data,” said Ryan Aytay, CEO of Tableau. “We’re shifting from basic reports to a world where AI is a collaborative decision-making partner. By combining AI agents with trusted data and easy-to-use tools, we’re making data accessible to everyone and transforming the data-to-action process into an automated, proactive, and insight-driven cycle. This empowers users to improve decision-making, boost efficiency, and manage risk more effectively.”
Chinese-founded e-commerce platforms Temu and Shein have announced upcoming price increases for U.S. customers, citing higher operating expenses due to tariffs imposed during former President Donald Trump’s administration.
These tariffs include a 145% import tax on most goods made in China and the elimination of the “de minimis provision,” which previously allowed goods valued under $800 to enter the U.S. duty-free.
The changes, effective May 2, have disrupted the business models of both companies, known for their ultra-low prices and extensive digital marketing campaigns.
Temu and Shein, which specialize in affordable products ranging from clothing to electronics, have urged customers to shop before the price adjustments take effect.
The companies aim to minimize the impact on consumers while adapting to the new trade rules.
These developments come amid concerns from U.S. lawmakers and business groups about the competitive advantage of inexpensive Chinese goods and the potential entry of counterfeit products through the now-canceled exemption.
Google has opened applications for the 2025 Google for Startups Accelerator Africa program, a three-month initiative designed to support early-stage startups using artificial intelligence to address Africa’s most pressing challenges.
Across the continent, startups are demonstrating how local innovation can solve deeply rooted problems. In West Africa, Crop2Cash – an agritech platform and alumni of the program – is using AI to digitally onboard smallholder farmers, build their financial identities, and provide them with access to credit, traceable payments, and productivity tools.
Through these efforts, Crop2Cash is improving agricultural outcomes and unlocking economic opportunity for farmers who have long been excluded from formal systems—illustrating the kind of impact that’s possible when African startups receive the support they need to scale.
The Accelerator is open to Seed to Series A startups based in Africa that are building AI-first solutions. Startups must have a live product, at least one founder of African descent, and a clear vision for responsible AI innovation. Selected participants will receive:
Dedicated technical mentorship from Google and industry experts
Up to $350,000 in Google Cloud credits
Access to a global network of investors, partners, and collaborators
Workshops focused on technology, product strategy, people leadership, and AI implementation
AI’s potential to accelerate Africa’s development is real, and Google is investing in ensuring that African startups lead that charge. According to McKinsey, AI could add $1.3 trillion to Africa’s economy by 2030, but only if bold innovation is supported at the grassroots.
“Startups are Africa’s problem solvers. With the right resources, they can scale their impact far beyond local communities,” said Folarin Aiyegbusi, Head of Startup Ecosystem, Africa at Google.
“This program reflects our belief that AI can be transformative when shaped by those who understand the context deeply.”
Since 2018, the program has supported 140 startups from 17 African countries. These alumni have raised more than $300 million in funding and created over 3,000 jobs. Many are now regional and global leaders in their categories.
Applications for the 2025 cohort are now open. Startups interested in participating can apply at: https://startup.google.com/programs/accelerator/africa
For further information and updates, visit the Google Africa Blog or follow @GoogleAfrica on social media.
Eedris Abdulkareem Teases New Protest Anthem following NBC Ban
Google Blocks 5.1Bn Harmful Ads in 2024, Suspends 39m Accounts
CBN Warns Banks, Fintechs on Compliance with Sanctions
How CBEX Operators ‘Enticed’ Victims –SEC
Airtel Smartcash Set to Power Stress-Free Easter with Seamless Cashflow
We’re Confident in the Super Eagles – Karl Toriola
FG to Harmonise Fiscal Data Across MDAs
SEC Declares War on Capital Market Fraudsters
EFCC Arrests 133 @ Ponzi Scheme Training Academy
FG, UK FCDO, and Ghana Partner to Launch Sankore
Telecom2 days agoSalesforce Revolutionizes Business Intelligence with AI-Powered Tableau Next
Broadcasting2 days agoMultiChoice Brings Easter Home with Dedicated Pop-Up Channel
News2 days agoAirtel Smartcash Set to Power Stress-Free Easter with Seamless Cashflow
E-Business2 days agoDG NITDA Tasks Africa to Lead the AI Revolution Through Strategic Leadership, Inclusive Innovation
E-Business2 days agoGoogle Blocks 5.1Bn Harmful Ads in 2024, Suspends 39m Accounts
E-Financial2 days agoHow CBEX Operators ‘Enticed’ Victims –SEC
Telecom2 days agoTemu and Shein Raise U.S. Prices Amid Trump-Era Tariffs
Broadcasting2 days agoEedris Abdulkareem Teases New Protest Anthem following NBC Ban