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Grey Market Operators are Money Launderers-Umo

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Ime Umo, managing director and technology solutions group lead for West Africa, HP West Africa is a seasoned IT sales professional with 16 years of experience from several large multi-national organizations in West Africa. He has a strong background in business-to-business sales as well as an excellent knowledge of the West African IT markets.Umo spoke with chike onwuegbuchi on a wide range of issues. It is his first ever interview since his appointment in April this year.

HP’s Business outside PCs and Laptops

HP is a technology company. We are not just into ink and cartridges; we do more than that. Today, we are the number one IT company in the world. We provide solutions in the telecom space; solutions such as form location register, which is a subscriber database for any telecom operator. We also do things like interactive voice recognition solution. We have the public sector solutions like treasury management; another solution we have in the telecom space is revenue assurance and threat management solution. Threat management solution helps telcos eliminate fraud in the environment and then the revenue assurance helps check within the telecom network where they have leakages. Another solution which we provide is on number portability. Number portability solution is about ensuring that if a subscriber is not happy with telecom company A, he can switch to telecom company B using the same number. So, there are hosts of other solutions that we provide and we are also into consulting and integration; we have the capacity to do SAP implementation, we have skilled staff locally we use in doing this. We also have skills around Oracle implementation as well. These are the services we render as HP. On top of it, I said that we are the number one telecom company in the world today. This is stemmed from the fact that we have done a lot of acquisitions; we have acquired a company called EYP, which is into Data center transformation and design. We have also acquired a company called EDS. EDS is the leading outsourcing company in the world. So, today with these acquisitions that we have made – EYP, EDS and a host of others; we are number one today from a technology standpoint.

Focal Points as MD of HP Nigeria

As I said earlier when I was talking about sectors that we are interested in, we foresee that there will be further consolidation in the banking and insurance sectors. That is a key area for us, where we are going to put in a lot of efforts to ensure that we sail our value proposition into this market space. We also foresee a lot of growth potentials in the telecoms industry. Like I said in my earlier discussion with you, the total subscriber database for the telecom companies is 40 million and the Nigerian population is roughly about 140 million; so that means we are just scratching the surface of the number of subscribers that are hooked up. The telecom space is another key area for us. Then the public sector; government is the biggest partner in terms of IT. Today, many state governments and even federal government, is looking at solutions and technologies that would help optimize what they do. In this space, HP has a clear e-government solution that will be implemented elsewhere which, we are ready to bring to various government parastatals that we are engaging.

HP’s Growth in Nigeria

Well, it is linked to the different sectors that we are looking at. Financial services are part of the areas that we need to put in our efforts. Of course, we also need to carry out some educational initiatives which we are putting in place that will enable the students know what they are doing and also support them from the academic point of view. We are also having quite a number of initiatives together with the banks; we are doing finance projects for some government initiatives such as Nepad, which is an African initiative put together to support educational services and to help people grow technology wise. So, there are quite a lot of things that we are looking at doing.

Challenges and Solutions

Most importantly, we talked about grey marketing. We also require the assistance of the press to do write-ups about the disadvantages and effects of grey marketing. I talked about two aspects of grey marketing – people buying, taking advantages of promos in America and Europe. They buy at cheaper prices and then come here. What we are doing is to encourage our local partners and distributors by doing promos to meet the price point of the grey market. Another aspect of grey marketing which we need to look at is money laundering. A couple of people are doing grey marketing just because they want to bring money back into the system and so, they launder money. For us, that is difficult to stop because all they are interested in is to make the money come in and not in selling. That is why they sell them at ridiculous prices and there is no way we can meet that price point. These people are fraudsters, they are laundering money; to them it does not necessarily matter, they just want to bring in money. To address people who are genuinely doing grey, who are taking advantage of promos in America and Europe, what we do locally is to drop the price point and do promo to encourage our local partners to compete with them favourably.

Grey Market and Warranty

It is very clear, people who buy from grey market do not enjoy any level of support from us; they do not enjoy any level of warranty. So, even they take that product to the service center, all they do is pay for the service and at the end of the day, they might end up paying the same amount of money that they used in buying the product when the equipment spoils because they are going to source for the spare parts abroad and we are going to charge them for the services.

Government Efforts at Checking Excesses

You know, government is increasingly asking foreign investors to come in and we expect that since government is doing that, they should create an enabling environment. We would expect that for international organizations that are operating within the country – government should let other vendors who would participate or buy the products, to use local companies to ensure that the sales are being made through the local HP office. Again, I guess it is not really much of the government’s responsibility – government has a say but HP internally needs to devise a means of ensuring that when leads about Nigeria are sent to other HP offices, that those leads should be routed back to Nigeria. So, it is a two-way thing; it is not just the government, we at HP would have to come up with that programme, say if they get a request from an end-user in Nigeria, they should route it back to HP in Nigeria. That would help our business. We also would expect government to support us in this direction. If they want to make technology purchases, they should insist that those purchases should be done with the regional HP office which is located in Nigeria.

Social Responsibility

I talked about that in my earlier discussion with you. That is what we have done. If you go back to the earlier interview, you would dig up all those facts and then come up with what we are doing. I mentioned a couple of universities which you are aware of. There is a clear directive on social responsibility from the Global Office, and you will see what we have done so far on the records. We are going to invest; we are doing business here and we will continue to invest in the region.

Competition and PC Market

Competition is good, we are not running away from competition but there is a differentiating factor and the total cost of ownership; we are looking at the total cost of ownership – who is able to give you the right level of support if you buy the equipment? In terms of total cost of ownership, we have three different support centers in Nigeria – Abuja, Lagos and Port-Harcourt and whoever is buying HP products will not have an issue; if there is a support issue, the person can take it to the support center and it is taken care of, whether the equipment is under warranty or not. If it is under warranty, it is fixed at no charge to the person but if it is outside warranty, it is fixed at a minimal charge to the person. So, we would continue to support the environment. We are not running away from competition. Just to give that level of assurance, HP is the only OEM in this region that has made a significant investment. We have support; we have resources internally that would help in supporting people. If you aggregate it, the total cost of ownership of acquiring or purchasing an HP platform is cheaper than the total cost of ownership of buying any other brand because if you look at local systems products, some of them give you six months and then the warranty is just on labour alone. If the parts spoil, you are expected to buy them. We look at it from the total cost of ownership and the investment we have made and the support mechanism and structure we have put in place. So, these are the things that make us more competitive than the rest of the vendors. It is not just the pricing of the product alone but the total cost of ownership.

 


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Firm Gives Advice on How to Stay Secure as AI, robots and VR are Redefining Family Life

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Over the past 10 years, families have experienced shifts in structure and a perceived increase in fragmented interactions at home, largely driven by the pervasive use of technology and changing social norms. What does the next decade hold in store?

According to a global survey* by Kaspersky’s market research center, an overwhelming 81% of people believe digitalisation will fundamentally alter families’ joint pastimes within the next decade. This shift points to a future where bonding is mediated by advanced technology, creating new rituals and challenges in equal measure.

Screen time is family time, but it has its risks

Nearly half (48%) of all respondents envision AI-powered bedtime stories becoming a norm, a figure that rises to 53% among 18–34-year-olds. Today, apps and smart devices offer AI-narrated tales with customisable characters and plot twists.

For the busy parent, it presents a novel aid, for the child, an endlessly patient, interactive storyteller.

Meanwhile, with 31% of families anticipating children opting for digital pets over real ones, it seems that ‘man’s best friend’ just got its first update.

It should be noted, however, that while AI has the potential to enrich a child’s life, it necessitates vigilance. When children interact with AI, for stories or learning, parents must be proactive.

Select services with strong privacy policies that do not unnecessarily store or misuse a child’s data or voice interactions and further enhance control with digital parenting assistants like Kaspersky Safe Kids to restrict content and balance screen time.

Parents would be well placed to treat AI interactions as a new digital playground where they can use parental controls to limit session duration, choose vetted, age-appropriate AI story platforms, and most importantly, maintain an open dialogue about what these stories are and how they are created. Explain to children that an AI is a tool, not a friend, and encourage them to report any strange or uncomfortable interactions, just as they would in the physical world.

The key is to ensure AI complements human interaction, not replaces the comfort of a parent’s voice.

Blowing out the digital candles

Another 43% predict family celebrations migrating to video call formats as a standard, not an exception, a trend accelerated by recent global events but now seen as a permanent fixture for dispersed families.

Meanwhile a daring 26% can imagine taking family vacations entirely in virtual reality. This sounds like the stuff of science fiction, but then 10 years ago, the type of generative AI being used today was not widely anticipated.

This fragmented outlook highlights that the future of family digital activity will not arrive as a uniform wave, but as a series of adoptions shaped by cultural openness and digital infrastructure. For security leaders like Kaspersky, this evolving landscape presents new vectors for risk within the most intimate of spaces, the smart home.

Preparing the digital home for tomorrow’s family

43% of all respondents foresee home robots as family members. Moving beyond voice-activated personal assistants or autonomous vacuum cleaners, these would be embodied AI companions capable of tutoring, playing games, or providing companionship.

In the eyes of hackers, however, every new device, from a VR headset to a robot nanny, is a potential entry point. To keep things secure, change default passwords immediately, ensure all device firmware is regularly updated, and segment your home network.

Use Kaspersky Premium with a Smart Home Monitor which scans users’ home Wi-Fi network 24/7, and shows a list of devices connected to it, including such details as device type, OS and IP address, and alerts when a new or unknown device connects.

As robots, AI, and VR devices become part of the family circle, security must be foundational, not an afterthought.

“The accelerating pace of technology is not fragmenting the family but redefining its shared spaces. The future, as seen by the global majority, is one where digital and physical experiences blend to create new forms of togetherness, from a grandparent joining a birthday party via hologram to a child caring for a digital pet with a sibling across the globe.

“The challenge and opportunity lie in building secure digital environments with intention, ensuring they are safe, respectful, and ultimately, tools that bring us closer,” comments Seifallah Jedidi, Head of Consumer Channel for META at Kaspersky.


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Corporate Comms in the Age of Crypto: Why Nigeria’s Digital Finance Future Depends on Trust

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By John Kokome

By the time you finish reading this article, the price of Bitcoin may have changed twice. That is the nature of cryptocurrency, fast, volatile, and borderless. Yet beyond price charts and trading apps lies a less discussed but critical pillar of Nigeria’s digital finance revolution: corporate communications. In the age of crypto, communication is no longer a support function. It is infrastructure.

Nigeria is one of the world’s fastest-growing crypto markets. Chainalysis ranked the country second globally in cryptocurrency adoption in 2023, driven largely by everyday retail users rather than institutions.

Between July 2023 and June 2024 alone, Nigerians received an estimated $59 billion in cryptocurrency value, the highest in Sub-Saharan Africa. Yet public perception remains sharply divided, crypto is seen as opportunity by some and risk or outright scam by others.

In such an environment, how crypto companies communicate can determine whether they earn trust, attract scrutiny, or lose credibility entirely.

The Complexity Challenge

Blockchain, decentralised finance, wallets, custody, smart contracts etc., are not everyday concepts for most Nigerians. Yet millions are expected to trust these systems with their savings, businesses, and livelihoods.

Corporate communications must therefore evolve from promotion to translation. Crypto companies must become educators, simplifying complex ideas without downplaying risks.

Hype must give way to clarity; speculation must yield to responsibility.

Some homegrown platforms, including FlashChange and other emerging African crypto brands, have begun prioritising financial literacy and user education. That shift is encouraging, but it must become the industry norm, not the exception.

Trust as a Strategic Asset

Trust in financial institutions is fragile globally, but particularly so in emerging markets where currency devaluation and policy uncertainty are familiar experiences. Crypto gained traction in Nigeria partly because people sought alternatives.

Still, crypto companies cannot assume automatic trust. In traditional banking, trust has been built over decades. In crypto, trust is built in real time, on social media, customer support channels, and community forums.

A single outage, security breach, or regulatory misunderstanding can escalate into a reputational crisis. Silence is read as guilt. Ambiguity feels deceptive. Delay looks incompetent. In Nigeria’s fast-moving digital ecosystem, communication speed must match market speed.

Nigeria’s policy evolution on crypto reinforces this point. In December 2023, the Central Bank of Nigeria (CBN) issued guidelines allowing banks to open accounts for Virtual Asset Service Providers, effectively shifting from restriction to regulation.

The CBN acknowledged that global trends demand oversight, not exclusion, while warning of risks related to money laundering, terrorism financing, and consumer protection gaps.

The Securities and Exchange Commission (SEC) has echoed this stance, emphasising that Nigeria’s digital asset future must be anchored on innovation, collaboration, and trust, with clear licensing and investor protection frameworks.The message is clear: crypto is now part of Nigeria’s financial architecture, and communication is central to compliance.

A Young, Digital Audience

Nigeria’s demographics explain crypto’s momentum. According to the National Bureau of Statistics, over 63 percent of Nigerians are under 25, and internet penetration now exceeds 50 percent, driven largely by mobile broadband. This digital-native population consumes information quickly, questions authority openly, and shapes narratives in real time.

Corporate communications teams must engage this audience with transparency and relevance, not marketing noise.

Crisis Communications in a 24/7 Market

Crypto markets never sleep. Crises do not respect office hours. Hacks, liquidity shocks, and regulatory announcements can happen at any moment.

Communications teams must therefore operate like newsrooms prepared, responsive, and coordinated. Pre-approved crisis playbooks, trained spokespersons, and real-time monitoring are no longer optional.

Most importantly, crisis communication must be human-centred. Nigerians want clear answers: Is my money safe? What happened? What comes next?

Brands that respond with honesty and empathy endure. Those that hide behind jargon do not.

Narrative Capital vs Market Share

In Nigeria’s crowded fintech and crypto space, companies often compete on fees and features. But the most durable advantage is narrative capital the credibility and emotional connection built over time.

Narrative capital determines whether users stay during downturns, regulators listen during consultations, and the media seek your voice. Platforms like FlashChange have a responsibility to tell Africa’s crypto story with authenticity, data, and purpose.

From Evangelists to Translators

Nigeria no longer needs crypto evangelists promising disruption. It needs translators, professionals who connect blockchain to remittances, wallets to small businesses, and decentralisation to economic opportunity.

As crypto matures, corporate communications will increasingly determine its legitimacy. Code may power platforms, but communication powers confidence. And confidence, more than any algorithm, will decide whether digital finance fulfils its promise for Nigeria.

John Kokome is the Corporate Communications Manager at FlashChange, a fintech platform redefining secure digital asset exchange. With experience across fintech, cryptocurrency, telecoms, and development communications in Africa. He currently leads strategic storytelling, reputation management, and stakeholder engagement initiatives at the company, focusing on building trust, transparency, and financial literacy in the digital assets space. John’s work sits at the intersection of policy, technology, and public perception, with a strong emphasis on Africa-first narratives and responsible innovation. He has contributed opinion pieces and thought leadership articles on governance, youth empowerment, branding, and Nigeria’s evolving digital economy.


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Senate confirms Oyewole as Supreme Court justice

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Senate has confirmed Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA, as a Justice of the Supreme Court of Nigeria.

Senate confirms Oyewole as Supreme Court justice

Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA

The confirmation was concluded on Tuesday, February 3, following the presentation and consideration of a report by the Senate Committee on Judiciary, Human Rights and Legal Matters.

The report was presented by the committee’s chairman, Senator Adeniyi Adegbonmire of the All Progressives Congress, representing Ondo Central.

Presenting the report, Senator Adegbonmire said: “That the Senate do Receive and Consider the Report of the Committee on Judiciary, Human Rights & Legal Matters on the confirmation of the nomination of Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA, as a Justice of the Supreme Court of Nigeria.”

The confirmation followed a formal request by Bola Tinubu, who wrote to the Senate last Tuesday seeking legislative approval for the appointment. The letter was read on the floor of the Senate by the President of the Senate, Godswill Akpabio.

In the letter, President Tinubu stated: “Pursuant to Section 231 (2) of the 1999 Constitution of the Federal Republic of Nigeria as amended.

“I am pleased to present for confirmation by the Senate the appointment of Hon. Justice Oyewole Kayode as Justice of the Supreme Court of Nigeria. While it is my hope that the Senate will consider and confirm the nomination expeditiously, please accept the assurances of my highest regards.”

Following the reading of the letter, Akpabio referred the executive communication to the Senate Committee on Judiciary, Human Rights and Legal Matters for further legislative action.

The committee was directed to carry out its work and report back to the Senate as soon as possible, a process that culminated in the confirmation approved by the chamber.


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