General News
Knowledge Based Economy is Key Solution to Recession- Adegboye
Ayo Adegboye, PhD, is the new Managing Director at Business Connexion Nigeria/West Africa.
A Fellow of Institute of Information Management Africa, seasoned professional with combined sixteen years wealth of first-hand experience that cut across both Public and Private Sectors in Telecoms, IT, Consumer Electronics and Marketing.
Adegboye is an alumni of famous Computer Warehouse Group (CWG) Sales Team; the pioneer Business Manager at Galaxy Backbone; under the Presidency also lead a change management at MTN Nigeria with BT Consultants before he proceeded to IBM, Samsung Electronics, South Korea and Schneider Electric West &East Africa as the Vice President, ITB for the region where he was responsible for Overseeing APC by Schneider Electric Go To Market Strategy, IT business and Operation across the region which include P&L.
Adegboye spoke to selected ICT journalists; peter oluka was there for Nigeria CommunicationsWeek. Excerpts.
Business Connexion
BCX is a 35-year old company with about 7000 staff strength. It is the foremost IT system integrator with operations in Europe, Middle East and Africa. Until recently, BCX was acquired by the biggest telecoms Company in Africa which is Telkom South Africa.
Today, we pride ourselves in providing customer solutions in the areas of specialize services, IT services, system integration and we partner with the best club of original equipment manufacturers (OEMs) such as Cisco, IBM, Microsoft, HP, Oracle, Dell, Schneider Electrics; just to name few.
Business Connexion is also one company that is in the forefront of internet of things. It is obvious that IT transverses all aspects of human life today.
Therefore, we are business enablers. Also, we are that company that has been able to offer one-in-all-solution to offices, including large, medium and small businesses. In many organizations today you still see a lot of architectural work, networking provided by BCX.
Plans to Lead BCX (Nigeria’s) Vision
I am excited about working for BCX with combined sixteen years working experience. As the leader of the new BCX drives in Nigeria, one principal vision for us is to come up with value differentiation programme.
We are not going to channel our efforts on the competition; rather our drives are geared towards superior customer satisfaction.
Hopefully, when the customers are happy, our competitors will come behind. We intend to remain the trusted advisers to our customers; offering them consultancies as well.
Going beyond that, we understand the terrain/environment in Nigeria today. We are lining up blue ocean strategy that will keep us distinct from others.
Recession: Need for Knowledge-Based Economy
Talking about what government should be doing to harness ICT potentials in pushing the country’s economy forward; well, those challenges have be there for years.
Considering the situation we have found ourselves, government needs to come up with strong policies that will create enabling environment.
However, in as much as government is diversifying to other sectors; it must take into cognizance that diversification to knowledge-based economy is key now. When you talk about knowledge based economy, it is about exporting knowledge.
A typical example of knowledge-based economy is India. There are a lot of software from India used across the world. They rake in billions of dollars yearly. Thus, the Nigerian government needs to channel its interest around IT.
In addition, encourage local content. BCX has taken an initiative by appointing a Nigerian to lead its business in the country. This is the kind of initiative that should be encouraged among other multinationals.
Most importantly, ICT policies should encourage local talents to building exportable knowledge so that in few years from now we can leverage that aspect of our resources.
The way policies around ICT are written, the government needs to encourage private-public partnership. Gone are the days’ policies are drafted without inputs from the private/technocrats.
Specific Policy Areas Government Must Consider
No doubt, government has done a lot in enacting policies surrounding IT Governance; I give the officials all deserved credit.
But there are still more areas to be covered like encouraging training. Today, processes around getting forex for ICT companies are not as smooth as should. How do you encourage foreign direct investment with such restrictions.
NITAD, NOTAP, NCC and other are doing very well, however, there are certain areas that shouldn’t be left unattended. I must reemphasis that private/technocrats should be involved in drafting policies that concern this sector. That will be a significant step in the right directions.
Plans for Customers in Present Economic Realities
Still on the recession, Business Connexion is truly African; we are not naïve of the environment we operate in. Recession is something we know that denies you some privileges. So, BCX has taken a lead by mulling initiatives on how to help the customers.
We realized that it is a tough business environment; hence we are ready to help customers save capex, and building resilient business.
We are in the business of taking away the burden of capex by building infrastructure/services so they can pay over time. That way it becomes win-win for all parties.
And because we understand the challenges companies are facing today, our models are designed to empower businesses. Power, for instance, has been a perennial issue in Nigeria. Therefore, the cloud infrastructure was designed around taking care of that gap.
IoT as Evolution Strategy
Yes, I did mention in the beginning that we are pushing the internet of things (IoTs) drive in this ecosystem.
It is still part of our evolution strategies. When I mention customers, they cut across enterprises: large and small.
We are making huge investments on cloud technology. What that translates to is that a typical SME does not need to invest a lot in infrastructure, software or hardware.
Again, it is our business model to take everything to the cloud. In a layman’s term, when you take a business to the cloud, there is going to be economy of scale. So, we are undertaking a pre-investment on behalf of several SMEs.
To a large extent, we are here to support SMEs and large enterprises; providing solutions for them to manage their operations more efficiently. There are several segments of SMEs that we want to cover; so we are doing a survey that will help us understand them more for better services and products.
IoT, Cloud Computing and Skill Sets
I will start with the internet adoption. The talk about millennia started around 1996. From my experience as then public sector officer with Galaxy backbone, when the usage of technology was introduced in offices there was slow adoption.
But as government has taken up the challenge, today, we talk about e-governance, so, the civil servants are adapting to it. Likewise, in IoT and Cloud computing, there are going to be processes of adoption.
Once that is done it becomes seamless. An average person with a phone knows how to send message via Facebook. You are not trained on how to use Facebook; IoT will become a way of life.
That does not mean we are creating enabling environment for SMEs to leverage IoT or cloud, we want them to access the suites or several applications with ease.
Set Targets for BCX
I actually have my priorities for short, medium and long terms. One of the things I want to be remembered for is actually to bring Business Connexion to top position among IT companies in West Africa.
Again, I will lead the journey into the cloud for BCX, because that is the new phase of business. I want to have a proper handshake with both private and public sectors.
I have had the opportunity to work as a public servant, so brining these experiences together will enable me lead the course, especially in driving SMEs going into the cloud. BCX will unveil a lot of cutting-edge technologies.
I have mentioned that we investing millions of dollars on cloud technologies in the country and you will soon see the impact in this environment.
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General News
NIS Deploys Advanced Surveillance Masts, other Critical Infrastructure to Boost Border Security
Nigeria Immigration Service (NIS) has said that under the first phase of its e-border solution, surveillance masts equipped with 24-hour thermal and optical monitoring capabilities have been deployed across several border locations, providing surveillance coverage of 10 to 15 kilometres during the day and up to 5 kilometres at night.
The service also assured that it will continue to modernise border security management through the deployment of advanced technology and critical infrastructure.
DCI Akinsola Akinlabi, spokesman for the NIS, who made this known during a news briefing by Spokespersons for security, defence and law enforcement agencies in Abuja, said that the phase two of the e-border solution is expected to expand coverage to additional land border points.
Akinlabi said the Service has also established an Integrated Operating Centre (IOC) to serve as a central hub for real-time intelligence gathering, surveillance, and data harmonisation relating to foreign nationals.
He said the NIS recorded significant operational successes in strengthening border security, combating transnational crime, and enhancing migration management between January and May 2026.
“During the reporting period, the Service intensified enforcement operations against irregular migration and related transnational crimes, resulting in the repatriation of 567 foreign nationals for violations of Nigeria’s immigration laws and regulations.
“In addition, six foreign natio nals were deported, comprising four individuals arrested for their involvement in a visa racketeering syndicate and two others who were deported after completing prison sentences for criminal offences.
“The Service also strengthened efforts to curb identity fraud and abuse of national documentation. Enforcement operations led to the recovery of 47 National Identification Number (NIN) cards from irregular migrants, while 21 stowaways were apprehended at various seaports as they attempted to illegally enter or exit the country through unauthorised means.”
Akinlabi said aside enforcement activities, the Service continued to invest in preventive and community-based initiatives aimed at addressing the root causes of irregular migration and cross-border crime.
“In March 2026, the Seme Border Command conducted sensitisation programmes for drivers’ associations, commercial motorcyclists, and community stakeholders to promote safe, orderly, and regular migration practices.
“Similarly, the Idi-Iroko Border Command carried out public awareness campaigns across markets, motor parks, and schools to educate border communities on the dangers and security implications of trans-border crimes.”
Mr. Emmanuel Ovaga, the Chief Executive Officer (CEO) of PufferPay Limited will deliver the keynote paper at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 scheduled for Friday, July 31, 2026 at Oriental Hotel, Lekki Road, Victoria Island, Lagos.
The theme of the Roundtable is: Fintech: Driving the Future of Digital Financial Ecosystem in Nigeria. Mr. Emmanuel Ovaga is a graduate of Computer Engineering from the Enugu State University of Science and Technology, Enugu State.
He is a technology entrepreneur and business leader with a strong track record in building and scaling innovative digital and enterprise solutions across Africa.
As the CEO of PufferPay, he drives the company’s vision to deliver seamless, secure and inclusive payment solutions tailored for emerging markets.
He is also the Chief Executive Officer of Pufferfish Technology Limited, a Pan-African IT and consulting firm specialising in software development, data analytics and systems integration for both public and private sector clients.
Under his leadership, the company has established strategic partnerships with globally recognised technology providers, including industry leaders in enterprise computing and analytics.
Pufferfish Technologies Limited has in a few years of its existence, birthed PufferPay, a fintech payment business created to enhance financial inclusion and payments facilitation in Africa.
PufferPay is created with best-in-class technology for transaction speed and security that guarantees top-range service delivery to its growing customers.
Reacting to the development, the Publisher/Editor-in-Chief of Business Journal Media Group, Prince Cookey said:
“Mr. Emmanuel Ovaga represents the next generation of tech leaders in the fintech space in Nigeria and Africa. His laudable accomplishments as the CEO of PufferPay Limited deserve accolades. He has positioned PufferPay as a leading player in the digital financial ecosystem in Nigeria and emerging corporate tentacles across the continent. Accordingly, stakeholders attending the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 would be looking forward to a robust conversation on the State of the Fintech market today and tomorrow.”
The Special Guests of Honour include Dr. Aminu Maida, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC) and Mr. Olusegun Omosehin, Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) while Alhaji (Dr.) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) will Chair the event.
The Guest of Honour is Mrs. Ekeoma Ezeibe, President/Chairman of Council, NCRIB.
Distinguished members of the Panel include:
- Dr. Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise (CPPE)
- Mrs. Idu Okeahialam, Group Managing Director/CEO, Royal Exchange Plc
- Mr. Jide Orimolade, Managing Director/CEO, Stanbic IBTC Insurance Limited
- Dr. Obioha Oti, President, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN)
- Mr. Sarafadeen Fasasi, President, Association of Financial Inclusion Agents of Nigeria (AFIAN)
- Chidubem Emelumadu, Ecosystem Lead (Africa), Lisk
The revolutionary success story of Moniepoint, Opay, PalmPay, Flutterwave and others in the digital payment system in Nigeria represents a positive expansion of the financial services sector in the country.
With millions of Nigerians and businesses lacking access to basic financial services, the importance of Fintechs remain sacrosanct in achieving substantial level of Financial Inclusion and expanding the frontiers of the industry.
According to AI Overview, Fintechs in Nigeria have revolutionised the financial landscape by dramatically increasing access to banking services, driving, for example, a 20% increase in financial inclusion and helping to bring the banked population to roughly 63%. These firms have introduced faster, affordable digital payments, lending, and investment services, forcing traditional banks to adopt digital transformation.
On investment, AI Overview stated: “Fintechs in Nigeria dominate the tech landscape, securing 35% of total tech funding ($2 billion total) in 2024, with over 430 companies attracting roughly 36% of all African fintech investment. Despite global challenges, the sector remains highly resilient, driven by high demand, with significant deals including Moniepoint’s $110 million series C.”
In January 2026, the Central Bank of Nigeria (CBN) granted national licences to Moniepoint, Opay etc, giving them the regulatory authority to operate across the 36 States of the Federation. The decision firmly underscores the great strides by Fintechs in driving Financial Inclusion and supporting sustainable economic growth in the country.
The 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 aims to underscore the positive contribution of Fintechs in deepening Financial Inclusion, expanding access to financial services and contributing to economic growth in the country.
Expected participants at the Roundtable include regulators, operators from key sectors of the economy, media and members of the public.
The Bank of Industry (BoI), Nigeria’s foremost Development Finance Institution (DFI), has signed a landmark Memorandum of Understanding (MoU) with the Nigerian Belgian Chamber of Commerce (NBCC), setting the stage for deeper economic cooperation, expanded investment flows, and stronger industrial partnerships between Nigeria and Belgium.
The agreement was signed during a high-level breakfast meeting jointly hosted by BoI and the NBCC under the theme, “Scaling Operations, Expanding Capacity, and Accessing Competitive Finance.” The event convened senior government officials, diplomats, business leaders, development partners, MSMEs, and private sector stakeholders committed to advancing bilateral trade and industrial development.
Speaking on behalf of the Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, the Executive Director, Corporate Finance, Sustainability and Investments, Mr. Rotimi Akinde, described the partnership as a strategic milestone in BoI’s drive to expand global collaborations that accelerate Nigeria’s industrial transformation.
“As Nigeria’s leading Development Finance Institution, the Bank of Industry has consistently recognised that sustainable industrial development is built not only on access to finance but also on enduring strategic partnerships.
“This collaboration with the Nigerian Belgian Chamber of Commerce reflects our commitment to creating stronger international business corridors that unlock investment, facilitate technology transfer, support MSMEs, and strengthen Nigeria’s industrial competitiveness,” he said.
Akinde noted that Belgium remains one of Europe’s most dynamic trading and investment destinations, making the partnership an important platform for promoting co-investment opportunities, export development, enterprise growth, and knowledge exchange between businesses in both countries.
The two-year renewable MoU establishes a framework for joint business forums, investment roadshows, trade missions, business matchmaking, enterprise capacity development, and increased promotion of BoI’s financing solutions to Belgian investors and businesses operating in Nigeria.
The collaboration is also expected to improve access to foreign direct investment, expand export-oriented industrial projects, and create stronger commercial linkages between BoI-supported enterprises and the Belgian business community.
Delivering the welcome address, His Excellency Pieter Leenknegt, Ambassador of the Kingdom of Belgium to Nigeria, commended the growing economic relationship between both countries and expressed optimism that the partnership would create new opportunities for businesses on both sides.
The General Manager of the Nigerian Belgian Chamber of Commerce, Marc Eeckhout, described the agreement as a practical platform for translating business interest into measurable economic outcomes.
“This Memorandum of Understanding represents more than an institutional partnership; it creates a structured bridge between Belgian innovation and Nigerian enterprise. By working closely with the Bank of Industry, we are opening new pathways for investment, technology exchange, and business collaboration that will enable companies from both countries to scale with confidence while contributing to sustainable industrial development,” he said.
The breakfast dialogue featured presentations on business expansion, industrial financing, and competitiveness, with contributions from industry leaders, including Engr. Vincent Adegbotolu, Managing Director/CEO of DWC Engineering, and Mudiaga Okumagba, Managing Director/Chief Executive Officer of Direct Logistics Plus.
The partnership aligns with BoI’s 2025–2027 Corporate Strategy, which prioritises industrialisation, MSME development, youth and skills, women’s economic empowerment, climate finance, digital transformation, infrastructure, and export promotion. With assets valued at over ₦6.8 trillion, the Bank continues to strengthen strategic international partnerships that support the Federal Government’s industrialisation agenda while creating jobs, enhancing productivity, and promoting sustainable economic growth.
Through the collaboration, BoI expects to attract new investment opportunities from the Belgian business ecosystem, increase financing for high-impact industrial projects, strengthen export value chains, and improve the investment readiness of Nigerian enterprises through joint advisory and capacity-building initiatives.
The Bank reaffirmed its commitment to working with global partners to unlock long-term capital, accelerate industrial growth, and position Nigeria as a competitive investment destination within Africa and beyond.
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