News
Interswitch Gives N12.5m Prize to Winners of SPAK TV Show
Interswitch is giving away the sum of N12.5 million away to SuperSPAKs (winners) as grand prize – in scholarships, in its ongoing InterswitchSPAK series TV show.
The firm in a statement sent explained that out of the sum, the first winner will receive N7.5 million worth of scholarships, monthly stipend, a laptop and the bragging rights as the Best Science Student in Nigeria.
While the second-place winner gets N4 million worth of scholarships, a laptop and monthly stipend, it announced that the third-place winner will go home with N1 million worth of scholarships.
The digital telecommunication firm pointed out that up till present, there have been nine episodes televised, with each episode comprising a Foundation Round and an Advanced Round, adding that during the foundation stage at the start of each episode, the initial 9 candidates are shortlisted to 5 candidates based on their speed and accuracy in responding to a set of 16 questions.
It said after, the top 5 candidates were shortlisted for the advanced stage.
“At this stage, there is the ‘Take a Turn’ round that ranks the candidates in the order in which they will give fast-paced answers to multiple questions within a given time frame. The best three candidates from the advanced stage automatically qualify for the semifinals.
“In this season of InterswitchSPAK, one key observation is the absence of the studio audience, a deviation from the previous editions. This glaring difference is understandable, due to the protocols and precaution necessitated with the advent of the coronavirus pandemic” Interswitch said.
It added that the first episode kicked off with the usual adrenaline rush, with candidates obviously nervous and anxious to outperform the others, recalling that the unique feature of the first episode was the absence of a female participant, noting that this changed in subsequent episodes.
The participants it was noted were all clearly brilliant students, although, only the top three candidates made it to the semifinals.
“In the second episode, things looked up in terms of gender balance, as three female candidates were featured. It was admirable that the candidates were visibly more relaxed, and there were more right answers supplied by the superspaks in this episode than were given in the previous episode.
“Spaksters in the second episode gave impressive and timely answers to the questions thrown at them in the Advanced Round of the competition. The brilliance in their responses almost led to a tie between two of the participants, and the one female standing – of the three that appeared – held her ground and made it through to the semifinals.
“Participants in the third episode raised the bar even higher, with the superspaks coming prepared to tackle the questions given to them.
“Most impressive was Faleye Oluwatoba who, in the Advanced Round, came atop the list of the top three participants to make it to the semifinals with 200 points. His fellow competitors held their own, but his aptitude in his delivery gave him an edge over them.
“The fourth episode was capped with an intensity that was only demonstrated by Timi who, despite his impressive run in the Foundation Round and Take a Turn, couldn’t make it to the semifinals” the statement recounted.
The goal of the show according to the statement is to echo in the responses of the participants to questions asked by the moderator Hero Daniels – simply referred to as Hero by the competitors – regarding their ambition and their drive.
In addition, it admitted that the use of science to tackle issues facing the African continent and the use of Africans, especially young Africans, cannot be overstated.
While noting that a lot has changed with the show when compared with the previous edition, the firm said it is instructive to note that the restrictions occasioned by the coronavirus pandemic has not constrained it and JustMedia, the producers of the show- in any way.
“This reaffirms Interswitch’s commitment to ensuring the development of Africa’s future problem solvers” the statement said.
The organization asserted: “Success at the InterswitchSPAK competition is based on the SPAK acronym, Speed, Precision, Accuracy and Knowledge. The battle continues, as we look forward to seeing more Superspaks”.
Members of the public have been urged to watch the program, on DSTV Africa Magic Family Channel 154 every Saturday by 6:30 pm, and 5.00pm on Sundays on the AIT Network.
Recall that the third edition of the InterswitchSPAK competition kicked off in May 2021, with 18,000 students from 1,800 schools participating in the National Qualifying Examination. Following the exercise, 81 students were selected to continue to the next phase.
Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.
She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
Cisco is exploring artificial intelligence (AI)-powered solutions to support smallholder farmers in Nigeria, as part of efforts to expand digital inclusion and technology adoption.
The initiative focuses on improving agricultural productivity through accessible, data-driven tools.
The move aligns with growing collaboration between Nigeria and the United States under the Commercial and Investment Partnership, which prioritises the digital economy, agriculture and infrastructure.
Speaking at the 2026 World Business Chicago, Brian Tippens, chief social impact and inclusion Officer at Cisco, said the company is assessing practical AI applications to help farmers combine local knowledge with data insights.
He said Cisco is exploring tools such as AI-enabled WhatsApp communities, geospatial mapping and weather intelligence to support day-to-day farming decisions.
The approach reflects a shift towards low-cost, mobile-first solutions suited to rural environments.
Tippens added that the Cisco Foundation is investing in early-stage startups developing technologies for local agricultural challenges.
Industry analysts note that AI adoption in emerging markets depends on locally relevant solutions, rather than large-scale enterprise deployments alone.
Beyond agriculture, Cisco plans to expand digital skills development in Nigeria through programmes such as the Cisco Networking Academy’s One Million Learners initiative.
Tippens said the programme also supports partnerships with organisations working with persons with disabilities, including those developing tools for people with visual impairments.
He added that Cisco’s social impact strategy aims to improve access to technology and promote inclusion, including in conflict-affected regions such as Borno State.
Cisco’s initiatives form part of broader efforts to link digital skills, connectivity and AI adoption to economic development in Nigeria.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
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