E-Financial
First Bank Lauds OAU’s ‘Vigitab’ e-Learning Model
First Bank said it believes teaching and learning conducted through electronic media, such as laptops, tablet devices and mobile phones, typically via the internet is gradually gaining inroads into Nigeria’s tertiary institutions with improved technology, a development which worth huge investment and necessary to boost the country’s system of education.
For instance, the Centre for Distance Learning, Obafemi Awolowo University (OAU) recently partnered with EduTech Software Solution, an indigenous education software technology company, and Huwaei also ICT solution provider- on solutions that will increase its student base drastically and give 50,000 people annually the opportunity to receive certified undergraduate and postgraduate degrees from the university.
This pact gave birth to “Vigitab” a customized tablet device with eLearning management solution that allows students to receive lectures, upload and download assignments, relate with peers and lecturers, participate in group discussions and have access to endless books online anywhere they are in the country using the device.
According to the some financial and education stakeholders at the official presentation of device in Lagos, the millions of dollars that might be invested into the project is worth it acknowledging that leveraging on ICT latest innovations with broadband internet will drive development and growth in education in Nigeria.
Bisi Onasanya, chief executive officer, First Bank Nigeria, though represented, believes that “e-commerce evolution in Nigeria is a reality and it is equally noteworthy to know that the educational system in the country is also leveraging on technology solution to combat challenging to get access to university education. So I think invest on the project is worth it and the solution will be impacting.”
Speaking earlier, Prof. Bamitale Omole, vice chancellor of OAU, said that “The Nigerian Universities Commission (NUC) has approved its eLearning study program for some selected degree courses which contents can be streamed live over broadband internet or recorded for later online or offline access using the Vigitab introduced into the distance learning program”.
According to the Vice Chancellor, each student will be required to acquire the customized tablet from which their course materials are handed over to them. Their lectures will be received both in online and offline mode.
Prof Essor Omole who was optimistic that by 2015 more degrees and some M.Sc study programes will also be approved for eLearning scheme, a digital recording studio was built so that lecturers could conveniently record their lecture which was uploaded on the devices.
He explained that “The tablet was designed such that it can automatically connect to the school’s Centre for Distance Learning e-learning portal to download lectures and update student status based on level of classes attended, forums and assignments.”
“The mission of OAU online and the ‘Vigitab’ solution is to develop and provide through emerging network technologies, responsive and quality distance leaning opportunities that meet diverse local, national and global needs,” he said.
Prof Omole further noted that “The eLearning program is guided by the NUC’s policies within the frame work of the university general regulations governing admission for higher education, saying that” he explained.
According to Professor Olabode Asubiojo, OAU director, Centre for Distance Learning (OAUCDL) students on this platform will be taught by the same lecturers teaching the on-campus students and that all admission processes are online.
Olabode who spell out that “B.Sc degree programs for Accounting, Economics Education, Social Studies Education and Nursing was approved” said practical sessions and examinations will be taking on campus.
He reiterated that “The same core lecturers and Professors teaching in the traditional environment have provided their courses content and lectures in form of videos for the eLearning environment.
On her part, Professor Abiola Awosika, general manager, Edutech Business Solution, explained that the device was built to suit Nigerian environment saying that will help to overcome the twin problems of internet access and power supply.
She said “The tablet battery has a nine-hour capacity thus minimizing the problem of power outages. Connectivity will not be an issue for the student as the Tablet comes with its own network for which the subscription is renewed with every session’s registration.
“The classes are designed in such a way that the bandwidth needed is not too large and does not take too much time for it to be downloaded unto computers and other devices. Lectures (notes and video) and assignments downloaded can be viewed offline at student’s own time, and assignments submitted as requested by instructors”.
Sterling Bank has launched a ₦2 billion scholarship initiative to support Nigerian students in private universities. The program, Beyond Education, was unveiled on Democracy Day and aims to remove financial barriers to higher learning.
The bank will fully sponsor 600 students from across Nigeria’s 36 states and the FCT to study Technology, Finance, Sales, and Public Health at Miva University, founded by Sim Shagaya. The selection process is merit-based, with candidates nominated by themselves or others, and final selection determined through public voting open to Sterling account holders.
Sterling Bank’s CEO, Abubakar Suleiman, described the initiative as an investment in Nigeria’s future, aligning with the bank’s commitment to Health, Education, Agriculture, Renewable Energy, and Transportation. The bank has already deployed over half a trillion naira in financing across these sectors.
According to Obinna Ukachukwu, Growth Executive at Sterling Bank, the program is about creating opportunities beyond education. The bank is shifting from short-term philanthropy to long-term ecosystem development, with investments in digitized healthcare, school financing, agricultural cooperatives, solar energy, and transport systems.
“Nigeria’s progress requires action,” Suleiman said. “We are funding the future architects of the country—those who will build the businesses, institutions, and innovations needed for national prosperity.”
Nominations for the Beyond Education scholarships are now open at www.sterling.ng/FUTURE. The initiative sets a precedent for private-sector-driven education investment, where success is measured not just in profit, but in people empowered.
Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with Investonaire Academy to train 100,000 young Nigerians annually in forex trading, financial planning, and risk management.
The agreement, signed in Abuja, was announced by Omolara Esan, Director of Information and Public Relations at the Federal Ministry of Youth Development. According to her, the initiative is part of the government’s broader strategy to reduce youth unemployment and enhance financial inclusion.
At the signing ceremony, Minister of Youth Development, Comrade Ayodele Olawande, described the partnership as a milestone in the ministry’s efforts to equip young Nigerians with practical financial skills. He emphasized that the programme would foster critical thinking, improve digital literacy, and expand access to global economic opportunities.
Speaking on the collaboration, Dr. Enefola Odiba, International Programme Director at Investonaire Academy, highlighted the importance of empowering youth with relevant financial and digital skills. He described young people as essential drivers of innovation and national development.
The ministry assured that the programme would be implemented with transparency and measurable outcomes, ensuring that participants gain practical expertise in forex trading and financial planning.
The Federal Government has recently intensified efforts to boost skill development across various sectors. A separate plan aims to train 100,000 artisans nationwide, following the successful upskilling of 29,000 individuals in previous phases. This initiative seeks to professionalize vocational trades, eliminate quackery, and introduce licensing systems.
Additionally, technicians from specialized institutions will receive industry-standard training to strengthen Nigeria’s labor force and increase self-reliance in skilled professions.
Through these efforts, the government hopes to position Nigerian youth for economic success both locally and globally.
Nigeria Deposit Insurance Corporation (NDIC) has begun the final phase of liquidation for the defunct Premier Commercial Bank, initiating the payment of liquidation dividends to verified creditors, nearly 25 years after the bank’s closure.
Premier Commercial Bank had its operating license revoked by the Central Bank of Nigeria (CBN) on December 20, 2000, following findings of financial instability and regulatory non-compliance.
Since then, the NDIC has overseen the bank’s liquidation process under a winding-up order from the Federal High Court, which designated the corporation as the official liquidator.
In a public announcement, the NDIC invited all eligible creditors to visit any of its zonal offices between June 2 and June 27, 2025, to verify and claim their entitlements.
This move marks a critical milestone in the final settlement of claims related to the bank’s collapse.
To facilitate the verification process, creditors are required to present proof of deposit or shareholding, such as a passbook, chequebook, term deposit certificate, or bank statement.
Additionally, valid identification documents must be submitted, including a driver’s license, international passport, national identity card, NIN slip/card, voter’s card, or a formal identification letter from a traditional ruler or local government chairman.
The NDIC assured the public that the ongoing settlement is part of a broader effort to bring closure to longstanding claims resulting from Premier Commercial Bank’s liquidation. The process, according to the corporation, has been designed to ensure efficient disbursement to all verified stakeholders.
Premier Commercial Bank is one of 53 deposit money banks whose licenses were revoked by the CBN between 1994 and 2018 due to various violations and signs of financial distress.
These closures were followed by legal procedures appointing the NDIC to manage asset recoveries and creditor settlements.
By initiating this final phase of payment, the NDIC is reaffirming its commitment to financial system stability and depositor protection while calling on all affected individuals and institutions to complete verification processes promptly to receive their due compensation.
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