E-Business
NIBSS Extends POS Transaction Timeout to 45 Seconds

Nigerian Interbank Settlement System (NIBSS) has extended Point of Sale (POS) transactions timeout from 15 second to 45 seconds.
Niyi Ajao, NIBSS acting managing director, who disclosed this during a press briefing in Lagos, said the agency was aware of the poor transaction network going on in the country, and pains it has caused to e-payment users.
He said the move was to improve on poor network quality for e-payment transactions by extending the time it takes to complete a transaction, especially, POS and restore confidence in the e-payment system.
Ajao said that NIBSS facilitated 285 e-payment transactions in 2018, and that the transaction volume will hit 600 million by this year end.
He explained that transaction timeout is the total turn-around-time (TAT) for a POS transaction cycle from the time it is received from a POS to the time a response is sent back to the terminal. “This TAT had been configured at 15 seconds in agreement with banks and processors. However, delayed responses from Issuers after this timeout in recent times could cause authorised debits not to return to the terminal before the set TAT, hence the adjustment to 45 seconds,” he said.
He said there has been several meetings between the Central Bank of Nigeria (CBN), banks and Payment Service Providers on the need to improve transaction quality and provide seamless e-payment services to customers.
According to the NIBSS boss, the adjustment to the timeout will be done on March 22, and is meant to reduce the number of failed transactions in the country.
He said the reversal for failed transactions is one area that NIBSS will henceforth, pay more attention to, so as to strengthen e-payment users confidence in the system.
“Whenever there is a transaction decline the system is supposed to reverse the transaction such that a debited cardholder would receive a reversal credit. Delays on reversal could be caused by platform downtime, network issues at processor level or delayed responses and Issuer/Switch Inoperative – Processor or bank is not available to receive the reversal even when it’s transmitted by NIBSS,” he said.
He said that NIBSS has taken remedial actions in fixing the rising e-payment challenges in the country, by fixing all platform application issues by February 21; network remediation carried out with concerned Processor and implementation of a secondary process whereby all reversals for any business day are re-transmitted between 10pm and 12 mid-night to return credit back to cardholders through their banks/Processors by March 22.
E-Business
Kaspersky, SMEDAN to Support SMEs in Nigeria with Cybersecurity Knowledge

Kaspersky, a global cybersecurity company, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a memorandum of understanding (MoU) to assist small and medium businesses in the country to become more cyber-aware and less vulnerable to developing cyber threats.
The MoU reflects a shared view that SMEs, being the backbone of economy, require strong cybersecurity measures. Kaspersky and SMEDAN will work together on information sharing, training programmes, and other practical steps to raise awareness of digital threats and cybersecurity measures.
“Small and medium business owners are juggling a dozen things – accounting, promotion, legal issues. They are not cybersecurity experts. But they are being targeted by cybercriminals through malware, phishing, and online schemes using social engineering tactics that make them look realistic.
“Our aim is to provide these organisations with some best practice tools and inform about measures that will help them stay safer online,” says Chris Norton, General Manager for Sub-Saharan Africa at Kaspersky.
The cooperation will feed into SMEDAN’s wider SME development efforts, with Kaspersky contributing cybersecurity knowledge and joining forces on awareness campaigns. The idea is to bring cybersecurity-focused guidance into existing business support channels, and to do it in a way that actually makes sense to entrepreneurs who may not have technical teams behind them.
Charles Odii, DG/CEO of SMEDAN, comments: “Since the COVID-19 pandemic, digital adoption among business owners has accelerated significantly. Many now operate WhatsApp shops, use online banking, and send invoices via email, which has increased their exposure to cyber risks.
Together with Kaspersky, we intend to strengthen cybersecurity awareness and practices across Nigeria, helping SMEs protect their businesses as they embrace the digital economy.”
SMEDAN has long been a government agency that has consistently shown up for small business owners in Nigeria. Its work cuts across industries, regions, and stages of growth from traders and artisans to early-stage tech startups trying to get formalised. This partnership gives it another tool to help those businesses operate more securely in a digital world. For Kaspersky, the collaboration is part of a wider push across the continent to support under-resourced sectors that are quietly being targeted online.
E-Business
NITDA Advocates AI, Security Integration for Sustainable Development

Kashifu Inuwa, CCIE, the Director General of the National Information Technology Development Agency (NITDA), has emphasised that integrating intelligence, security, and sustainability is critical to driving Nigeria’s digital transformation and global competitiveness.
Inuwa made the remarks on Tuesday in Kano while delivering a goodwill message at the opening of the 19th International Conference (CONNOVATE 2025) of the Nigerian Computer Society (NCS), themed “Intelligent, Secure, and Sustainable Innovations for a Connected World.”
Represented by Engr. Salisu Kaka, Director of E-Government and Digital Economy Development, Inuwa said the three elements were now indispensable drivers of national progress. He highlighted the need for their convergence to unlock new opportunities in Nigeria’s technology sector, citing Estonia’s X-Road platform — which enables 99% of government services online — as a global model.
“In Nigeria, trust is the ultimate currency in our high-stakes digital environment, where scams and cybercrime are prevalent. Security builds and protects this trust,” Abdullahi said.
He stressed that while security provides the foundation, intelligence builds the structure, pointing to Artificial Intelligence (AI), Machine Learning (ML), and data analytics as tools for addressing Nigeria’s complex challenges. Warning that “innovation without security is unsustainable,” he likened it to “a high-performance race car without brakes.”
The DG urged the next wave of Nigerian startups to go beyond digitising existing processes to creating new value, citing AI-powered wealth management and ML-driven remote diagnostics as examples.
He further highlighted the various Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE) initiatives supporting this vision, including the National Centre for Artificial Intelligence and Robotics (NCAIR), the Computer Emergency Readiness and Response Team (CERRT), the Nigeria Data Protection Act (NDPA) 2023, the national digital identity programme, interoperable payments, and human capital initiatives such as the 3 Million Technical Talent (3MTT) and Digital Literacy for All (DL4ALL) programmes.
Inuwa cited example with International Federation for Information Processing (IFIP) President, Antony Wong, that called for stronger protection and strategic use of data in the Global South to safeguard indigenous knowledge. He stressed the importance of legal clarity on data ownership as Nigeria’s cultural heritage in medicine, ecology, and art is digitised and incorporated into AI systems. Wong praised Nigeria’s role in the recent World Intellectual Property Organization (WIPO) treaty protecting genetic resources and traditional knowledge.
Delivering his welcome address, the NCS President, Dr. Muhammad Sirajo, said the conference would serve as a platform for IT professionals to address critical issues, including intelligent systems, fintech, sustainable energy, and innovations in agriculture, health, education, and national planning.
“This conference will provide an interdisciplinary platform for researchers, practitioners, and educators to present and discuss recent innovations, trends, and solutions for improving technological systems,” Sirajo said.
The week-long event includes plenary sessions, a doctoral consortium, a youth and entrepreneurship forum, the Fellows Forum, the Annual General Meeting, an IT quiz competition for students, and an induction ceremony for new members. It will conclude with the election of new national executives, a dinner, and an awards night honouring contributions to the ICT sector.
E-Business
AfDB Adopts AI to Fast-track Africa’s Development Blueprint

The African Development Bank (AfDB) is betting big on Artificial Intelligence (AI) as a catalyst for delivering Africa’s ambitious Agenda 2063.
With hands-on training in tools like ChatGPT and Google Gemini, the Bank believes the results could redefine how the continent plans, measures, and delivers its development goals.
Through its Joint Secretariat Support Office, the AfDB has provided technical and financial support to the 5th annual training workshop for African Union member states, focusing on the use of AI to track and implement the second ten-year plan (2024–2033) of Agenda 2063.
The five-day workshop, held in Lusaka, Zambia, was co-organised by the African Union Commission and the African Capacity Building Foundation.
Participants from across the continent rolled up their sleeves for hands-on training with emerging AI platforms like Ailyse, Google AI Studio, and Perplexity.
The goal of Africa’s multilateral development finance institution is to turn complex development data into actionable insights that can drive smarter decisions, faster interventions, and more accountable governance.
AbibuTamu, lead programme co-ordinator at the AfDB, said AI was now an indispensable tool for Africa’s future.
“These tools are not only revolutionizing how data is collected, analysed, and reported, they are also enabling more targeted policy interventions and efficient resource allocation,” Tamu told delegates.
Agenda 2063, dubbed “The Africa We Want,” is the African Union’s 50-year blueprint for inclusive growth and sustainable development. The second 10-year plan prioritises industrialisation, digital transformation, and sustainable livelihoods.
With AI now in the mix, African policymakers can track progress in real-time, spot bottlenecks before they choke projects, and reallocate resources where they are needed most.
The AfDB’s backing underscores a broader strategy of boosting both human and institutional capacity that propels African states to harness the digital revolution.
Beyond technical skills, the Lusaka workshop doubled as a peer-learning platform, with countries sharing real-world success stories on integrating AI into national planning and reporting.
“If Agenda 2063 is Africa’s long-term roadmap, this AI training is about upgrading the continent’s GPS that ensures leaders not only know the destination, but also have the intelligence to navigate every twist and turn on the way,” said Tamu.
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