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FG Taking Significant Steps to Position Nigeria in Global Tech Race – Pantami

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Prof. Isa Ali Pantami, Minister of Communications and Digital Economy, has said that in the last few years, the Federal Government of Nigeria, through the Federal Ministry of Communications and Digital Econony, has been taking significant steps to position Nigeria in the global tech race.

Pantami spoke on Tuesday, in Abuja, while declaring open the 10th Edition of the Digital Africa Conference & Exhibition themed: “Positioning Africa in the Global Tech Race.”

He said that the Buhari administration recognised the need for a regulatory environment that supports, rather than stifles development, and has developed a number of policies in this regard.

“Nigeria has a potential critical mass of ‘digital natives’ that can transform the country into a regional and global digital powerhouse. These creative Nigerians.

“These creative Nigerians can play a key role in the creation of digital jobs across all sectors of the country; jobs that are either based on or are dependent upon Information and Communications Technologies (ICTs),” Pantami said.

While noting that the implementation of the National Digital Economy Policy and Strategy (NDEPS) emphasises the importance of the innovation and startup ecosystem to the development of an indigenous digital economy, the Minister pledged that his ministry will continue to position Nigeria to develop this ecosystem to transform the country into a sustainable and thriving digital economy.

He stated that in recognition of the role of emerging technologies and in preparation for the Fourth Industrial Revolution, the Federal Government is actively building competence in these technologies and have set up a National Centre for Artificial Intelligence and Robotics to serve as the digital laboratory for advancing skills development and innovation in emerging technologies in Nigeria.

“In addition, we are establishing a National ICT Park and a National Digital Innovation Centre to create an atmosphere that would usher in innovation-driven culture among the Nigerian populace,” he said.

Pantami said that for Africa to assert itself in the global tech space, there is need effective collaboration, and insisted that “we must urgently improve international

cooperation and work together towards achieving our national and regional development plans in building the Africa we want.”

While reiterating Federal Government’s commitment to providing the enabling environment required for such partnerships to thrive, he reaffirmed government’s willingness to continued partnerships and forging new ones with industry stakeholders in this regard.

Earlier in his welcome address, Chairman of Digital Africa Limited, organisers of the tech show, Dr. Evans Woherem noted that for a decade, Digital Africa has been an advocate and breeding place of informed debate and independent analysis, on issues to do with tech and Africa, leading to the generation of new, incisive policy proposals.

He said the theme of this  year’s conference couldn’t have been more timely and relevant than now, technology is fast evolving at an exponential speed, and is today disrupting almost every industry in all countries of the world.

“Looking carefully at our development myopia and non-progress compared to what is happening in other continents, we can conclude that Africa is currently living in a Matrix Simulation. In other words, we are passing through an Alternate Reality within our Multiverse.

“There are billions of possible realities at any one point in time that applies to an individual, to a society, to a country and even to the whole world. I believe that it is an alternate reality that we are experiencing here in Africa. This is not the reality we started out with.

“I believe somewhere along the line of our evolutionary trajectory and paradigm, something flipped, leading to an inflexion point that took us to an alternate reality. even when some other parts of the world continued with their original reality,” he said

Woherem expressed confidence that even in this present reality, Africa should muster enough will power to begin to do the right things, so that it can go back to its mis-aligned reality.

“We have to see it as a challenge to get Africa back to its historical standing, embrace the right mentality to move Africa forward, and shun any negativity that have hampered Africa’s growth. We can reposition Africa!”

The opening ceremony was also used to honour some corporate organisations that have over the years supported the Digital Africa Conference & Exhibition.

The companies include VDT Communications, Chams Access, Africa Data Centre, and Zoracom.


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CAC Flags Three Companies, Warns Nigerians

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Corporate Affairs Commission (CAC) has warned Nigerians against transacting with three fake Nigerian firms, citing fraudulent incorporation documents and registration numbers not issued by the commission.

CAC Flags Three Companies, Warns Nigerians

According to the CAC, these companies are using fake certificates of incorporation with two different RC numbers each, none of which exist in the commission’s official records.

The affected companies are SPEF Cooperative Society Ltd with RC Numbers 1265884 and 512862, UPIL Staff Cooperative Society Ltd with RC Numbers 1265837 and 553220, and PREM Staff Cooperative Society Ltd with RC Numbers 1265844 and 545901.

The CAC warns that any Nigerian conducting business with these entities does so at their own risk.

“Anyone that transacts any business with the above-mentioned companies does so at their own risk,” the commission warned.

The commission further advised potential partners and investors to verify registration details directly through its official portal before signing contracts or making payments.

Similarly, the CAC, in a bid to enhance its services, introduced an AI-powered business registration platform on July 3, designed to streamline incorporations.

This new system offers instant name reservations, automated business-name suggestions, and same-day registration using a National Identification Number (NIN).

Additionally, the commission plans to review its service fees starting August 1, aiming to make its services more efficient and cost-effective.

 

 

 

 

 

 


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AfDB to Introduce Systems Reforms to Prioritize Investing in Africa’s Youth

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The African Development Bank, in partnership with the International Labour Organization, has launched a transformative system to mainstream youth employment, skills development, and entrepreneurship across its investments.

The approach, called the Youth, Jobs and Skills Marker System, is aligned with the Bank’s latest Ten-Year Strategy, which places Africa’s young people at the center of development efforts to maximize the impact of every dollar invested, turning demographics into a dividend.

The Marker System ensures that Bank projects spanning diverse sectors, such as agriculture, transport, energy, water, and education, systematically incorporate components that enhance youth employability, foster entrepreneurship, and build market-relevant skills.

“The Youth, Jobs and Skills Marker System is about ensuring Africa’s young people have a real say and active role in building sustainable economies and creating jobs – not as passive recipients of youth programs,” said Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development. “This transformation of Bank practices and systems is a step toward making sure our investments have a positive impact on Africa’s young women and men.”

The integrated system has three focus areas:

Youth: Supporting youth-led micro, small, and medium-sized enterprises through targeted investments and operational integration.

Skills: Expanding access to practical, market-driven training and apprenticeships to enhance career prospects.

 Jobs: Ensuring Bank-funded projects create sustainable job opportunities, particularly by developing youth skills for employability and the promotion of youth-led businesses in priority value chains.

Each year, around 10 to 12 million young Africans enter the labor market, which offers only three million formal jobs annually. The Bank will prioritize youth entrepreneurship and mobilize private sector partnerships to strengthen industry-oriented skills training as well as job creation over the coming decade.

“[This initiative] is very important because it allows us to significantly contribute to the United Nations Sustainable Development Goal #8 that includes decent work for all,” said Peter van Rooij, Director of Multilateral Partnerships and Development Cooperation at the International Labour Organization. “It also allows the International Labour Organization to influence the Bank’s work, to support their lending that is more geared toward more job creation and better jobs in a sustainable way.”

The Youth, Jobs and Skills Marker System is modeled on the success of the Bank’s Gender Marker System and its online dashboard, which categorize Bank projects based on their contribution to gender equality and women’s empowerment.

Similarly, the new system will feature an online platform enabling Bank staff and consultants to access real-time data for preparing country strategy papers, mid-term reviews, annual reports, project supervision, and reporting on youth-related skills, businesses and jobs outcomes.

The Bank has just launched a pilot version of the Youth, Jobs and Skills Marker System in readiness for the full implementation in 2026. This system will enhance data tracking, improve estimates of youth skills attainment and employment, strengthen labor market information systems, and support policymakers in making evidence-based decisions that drive meaningful change.

The International Labour Organization provided technical support for the system’s development with financial support from the Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund. The Youth, Jobs and Skills Marker System is the first deliberate action of its kind developed by a development finance institution worldwide.


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SEC Probes Ponzi Scheme Linked to FF Tiffany

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The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.

A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.

The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.

The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.

According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.

SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.

“These schemes are not registered with the SEC and do not offer investor protection under the law.

“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.

The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.

SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.

 


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