General News
Nigeria can Easily Transit to eTransactions – Chuma Ezirim
Chuma Ezirim is head, eBusiness group in First Bank Plc that is in charge of developing and managing eChannels and Card business in the bank. He holds a B.Sc in Industrial Chemistry, University of Nigeria, Nsukka and M.Sc. (in the same field), University of Ibadan. He also has a MBA from Nsukka. He is also alumnus of the prestigious Lagos Business School. Ezirim, pioneered the introduction and use of the Smartcard Payment System in Afribank Nigeria Plc as a young banking officer and served in the steering and marketing committees of the Nigeria Smartcard Scheme, where the broad product strategies for the scheme were set. He also has broad experiences from Prudent Bank, where within two years, he took the bank from 27th to the number one position in the Valucard Scheme. Ezirim, was also an assistant general manager at Skye Bank, from where he joined First Bank in November, 2010. He works directly with the group managing director of First Bank to reposition eBusiness as an important source of earnings diversification for the bank. He spoke with miebi senge, excepts:
Overview of Cashless Lagos
I am sure that we all know the objectives behind the cashless policy. We think that the policy is coming at the right time considering all that is happening in the country and I am happy that all the stakeholders have embraced that policy and then of course they are also committed to its success. Last year the Central Bank of Nigeria (CBN) recognized the need to bring all stakeholders in the payment industry together to look at ways of reducing the amount of cash in the country and that concern was based on the risks of carrying cash and of course the cost involved in managing cash. There is also the convenience associated with using electronic payment channels to make payments.
The pilot started in Lagos on January 1 and we have had some hiccups, which are being addressed by the relevant stakeholders. CBN has also recognized the challenges in terms of rolling out the scheme; that is why they have moved implementation of the service fees to April 1, 2012 in Lagos. Between now and the end of March, all stakeholders would have had the opportunity of addressing some of these challenges.
In terms of awareness, the CBN and other stakeholders also are doing very good job in sensitizing the public. There have been several town hall meetings with key stakeholders like traders, artisans, religious groups, etc, where the policy was extensively discussed and demonstrations of the alternative channels like POS terminal were made. The sessions have been largely successful.
We think that it is still too early to start assessing performance of the policy but the good thing we have noticed is that there is a whole lot of awareness. We are getting calls from our corporate and retail customers asking us to come and talk to them about the policy, including organizing awareness sessions with their key distributors and suppliers.
Breaking Tradition of Moving Cash Around
The truth is that we cannot eliminate cash. Even in advanced markets, we still find that cash transactions account for more than 50 per cent of transactions in those markets so we cannot totally eliminate cash. The challenge we have in Nigeria is that we have a situation where we have more than 90 per cent of our transactions done with cash. For us, that is a challenge, with huge implications on key performance indices in our economy. I will like to look at it from the point of view of all key stakeholders – the economy, business, banking industry and then of course, the customers. Three things the policy aims at addressing; one is safety, convenience and cost.
For the economy, for instance the CBN spends so much printing cash. Even the cost of managing the distribution or the circulation is also a major cost.
Studies have shown that if you are able to improve on the efficiency of your payment system, it could lead to savings, which could be as much as one per cent of the GDP of a country. For me that is an achievable goal. This industry spent over 90billion in 2009 managing cash. If we can even reduce that amount by half there would be a saving that translates into investments in infrastructure to improve the quality of services we render to customers. It would also lead to reduction in the cost of funds.
For the business we know that today security is a major concern in this country. Why would a business accept cash in the office or shop, with all the attendant risks. The bad thing about cash is that once it is lost, it is lost. For me, safety is also a major issue for businesses. For those that are into retail businesses like supermarkets, it is a major issue.
For the customers, you are looking at the convenience of carrying and transacting with cash. Why would I want to carry a Ghana must go bag when access to that sum of cash is in my wallet? We know that people attack homes because of cash that is kept at home.
Are we going to make progress with this policy? The answer is yes. This country has also proved with mobile phones that though we might not be numerate but we’re not illiterates. We have over 90 million active mobile phone subscribers now in Nigeria. The truth is that if you are able to use a mobile phone, you should be able to use cards to settle for your transactions at the POS terminal or withdraw money from the ATM. It is easier to use cards than mobile phones.
I think that this country has all it takes to move from paper based transactions to e-based transactions.
Meeting Point Between Banks and Mobile Money Operators
Mobile money is one of the schemes that would support the cashless policy. There are several players in the industry and what the CBN has done is to licence some operators to operate mobile payment schemes. I know that their operations also affect this policy in the sense that instead of just depending on PoS terminals, ATMs, etc for transactions, you use your mobile phone. I think that the scheme would complement what we are doing at least in addressing some of the cash challenges we have and reaching the under-banked and unbanked.
FirstBank and the Cashless Policy
I am sure you are aware that we are the clear leader in the Nigerian payment industry. FirstBank processes about 31 per cent of transactions on the InterSwitch network. One out of every three Verve cards in the market today is a FirstBank First card. We have the highest number of active ATMs in the market. We have the highest number of active PoS terminals in the market. We have the highest number of mobile banking subscribers in the market.
I can go on and on. The truth is that we are well prepared from the acceptance point of view; we have more devices out there than any other player in this market.
In terms of cards, we have issued more cards than any other player in this market. So when we are talking of cashless policy, FirstBank has a major role to play.
The other way to look at it in terms of level of preparedness is that today we are the only bank in Nigeria where you could walk in as a customer and a card would be issued to you and activated within 15 minutes. A customer can walk into a First Bank branch, open an account and be issued a card within 15 minutes, which is also activated on the spot. We have completely eliminated the use of PIN mailers in card issuance. We also have very robust mobile and online banking platforms.
Investment in Cashless Policy
Our investment in e-channels has been on for several years and is still on-going. What we are trying to do now is to look at our processes and increase our presence in some locations by deploying more ATMs, more PoS terminals and enhancing our mobile internet banking platforms. These are basically what we are doing now. I might not be able to tell you how much we have spent in specific terms because these are investments we have made over time.
Job Loss with cashless Policy?
There would not be loss of jobs with the cashless policy. Efficiency enhances productivity. There would be cost savings and more money for people to invest in other productive sectors.
Assurance to customers
All the stakeholders with the support of the CBN have invested a lot in terms of resources and efforts in ensuring that this policy works. Most of the challenges that we have in the industry are being addressed. We are very optimistic and committed to achieving the objectives of the cashless policy.
Nigeria as hub of Cashless in Sub-Sahara Africa
Yes, Nigeria can be a financial service hub in Africa. It is a matter of planning and allocation of the right resources. The CBN is very committed to this, and working closely with banks to ensure that we deploy very efficient and secure electronic payment systems in the country. My Group Managing Director is personally driving all our alternative payment service delivery initiatives in the bank.
Federal government said it is committed to the implementation of stricter, more organized drone regulations to balance innovation with national security.
This came as stakeholders at the 6th Dronetecx Conference and Exhibition in Lagos called for stronger regulation and a comprehensive national policy framework for unmanned aircraft systems as the Nigeria Civil Aviation Authority (NCAA) launched a Drone Portal.
Speaking at the conference, representatives of Office of the National Security Adviser (ONSA), the Ministry of Aviation and Aerospace Development and NCAA, said Nigeria is intensifying efforts to balance innovation with national security as drone operations continue to expand across sectors such as agriculture, healthcare, oil and gas, logistics, construction and security.
Mallam Nuhu Ribadu, national security adviser, represented by Commodore Oscar Mbanu, deputy director, Defence Affairs, said the federal government had adopted a strict but innovation-friendly regulatory framework requiring security clearance, end-user certification and operational approval before drones can be deployed.
He disclosed that a multi-agency drone task force involving the NCAA, security agencies and other relevant bodies had been established to strengthen monitoring, enforcement and accountability, while the End-User Certificate system would help track imported drones and prevent misuse.
Also speaking, Mahmud Kambari, permanent secretary, Ministry of Aviation and Aerospace Development, represented by Mrs Rubiyatu Aliu, director of Air Safety and Administration in the Ministry of Aviation and Aerospace Development, announced the launch of a new digital drone registration portal and Flyer ID scheme introduced by the NCAA in partnership with Dronetecx to improve oversight and proper registration of operators.
She urged drone operators to comply with regulatory requirements, warning that innovation must operate within the law.
Captain Chris Najomo, director general of NCAA, said the Federal Government was moving from policy discussions to implementation with plans to establish a comprehensive national drone policy and roadmap approved by Mr Festus Keyamo, minister of Aviation and Aerospace Development.
He noted that the framework would complement existing aviation regulations and provide clearer direction for investors and operators in the rapidly growing industry.
Mr Fortune Edu, conference organiser and founder of Dronetecx, said Nigeria must urgently position itself as a leading player in Africa’s emerging drone economy or risk losing opportunities to countries already advancing in the sector.
He explained that the proposed national framework would support innovation, research, advanced air mobility and job creation while preparing the country for future drone applications including cargo delivery and passenger transportation.
Stakeholders at the conference expressed optimism that stronger collaboration between government agencies and industry operators would accelerate the safe growth of drone technology and support national development.
Dr. Olasupo Olusi, the Managing Director/Chief Executive Officer of Bank of Industry, has described the media as Nigeria’s most important development partner, noting that effective communication remains critical to national growth and institutional impact.
Speaking during an interactive session with media partners in Lagos, Olusi said journalists play a central role in shaping development outcomes by amplifying progress, accountability, and national aspirations.
“The media is the biggest agent of development anywhere,” he said. “Communicating what needs to be done and what has been done is critical in the journey of any development institution.”
Olusi used the engagement to unveil major milestones in BOI’s ongoing transformation agenda, which he said is focused on strengthening support for Nigeria’s private sector and driving inclusive economic growth.
On the BOI he met when he was appointed, Olusi said: “I inherited a very strong institution. The Bank of Industry was already one of the leading development finance institutions in Africa, and certainly a respected institution in Nigeria. I usually describe it as inheriting a Rolls-Royce.” He noted that the current leadership is innovating and repositioning the Bank to become even more effective in delivering long-term financing and developmental impact for Nigeria’s private sector.
“I came with the mindset of a development economist who truly believes in impact-making,” he said.
Olusi revealed that BOI has established an Impact Fund financed through a percentage of the Bank’s annual profits to support strategic national investments.
According to him, the Fund invested $15 million in the New Africa Medical Centre of Excellence in Abuja and N25 billion in the National Credit Guarantee Company (NCGC) to improve access to financing for MSMEs lacking collateral.
“The objective is to remove the long-standing barriers preventing small businesses from accessing finance,” he explained.
The BOI boss also announced plans to commence non-interest banking operations following final regulatory approvals from the Central Bank of Nigeria.
He said the initiative would provide inclusive financing options for Nigerians who prefer non-interest financial products.
In addition, Olusi disclosed that BOI has established more than 20 youth and skills hubs nationwide focused on ICT, agro-processing, fashion, printing, and entrepreneurship development.
“These hubs are designed to help young Nigerians learn, innovate, package products, and eventually establish sustainable businesses,” he stated.
Reaffirming BOI’s commitment to Nigeria’s economic transformation, Olusi said the Bank remains focused on creating measurable impact across communities and sectors nationwide.
“The opportunities for making a difference in Nigeria are enormous across all sectors and spheres of life,” he added.
Google’s annual I/O developer conference is a hub for exciting product updates. This year, “The Android Show: I/O Edition” offered an early preview of Android’s future. Packed with groundbreaking news, these updates will transform our Android interactions. Android, the world’s most popular OS with over 3 billion active devices, continues to innovate, bringing practical benefits and new possibilities.
For people in Nigeria, these advancements promise easier, safer, and more personal digital lives driven by Gemini Intelligence. From handing off your to-do list to unbreakable theft protection, dive into how Android’s 12 latest offerings will empower users across the continent:
1. Hand Off Your To-Do List with Gemini App Automation
Google is introducing Task Automation, allowing Gemini to navigate multi-step tasks across your apps so you can focus on other things. Instead of manually switching between apps and copying data, you can simply point your camera at a travel brochure in a hotel lobby and say, “Find a tour like this on Expedia for a group of six.” You can also long-press your power button over a grocery list in your notes app and ask Gemini to build a shopping cart with all the items for delivery. Gemini handles the logistics in the background while keeping you in complete control.
Availability: Already in beta on S26 and P10 Pro devices, and launching on Galaxy Fold8 and Pixel 11 later this year.
2. Speak Naturally with “Rambler” (Powered by Gemini)
Google is announcing Rambler, a revolutionary voice typing feature in Gboard that captures your underlying intent rather than just transcribing your exact words. Because we don’t always speak the way we want to write, Rambler lets you talk naturally—including self-corrections, repeats, and filler words like “ums” and “ahs”—and turns those raw thoughts into a polished, concise message. It is built for a global community and can seamlessly switch between multiple languages, like blending English and Hindi, within a single sentence.
Availability: Rolling out first to Pixel devices starting in Q3 2026.
3. A Personal Browsing Assistant with Gemini in Chrome
Google is announcing a built-in personal browsing assistant for Chrome on Android, designed to help you research and understand web content without ever leaving the app. By tapping the Gemini icon on your toolbar, the assistant opens at the bottom of your display so you can ask specific questions about the webpage you are currently viewing. Whether you need a quick summary of a long article or a detailed explanation of a complex topic, this tool seamlessly enhances your mobile web experience.
Availability: Rolling out to select Android 12+ devices with 4GB+ of RAM in the U.S. starting at the end of June.
4. Instant Image Customization with Nano Banana
Google is introducing Nano Banana, an innovative feature that lets you instantly create and customize images directly within your Chrome browser. For example, if you are studying for an online exam, you can simply ask your browsing assistant to turn a text-heavy page into an informative infographic. Similarly, if you are scrolling through apartment listings, you can ask the assistant to alter a photo of an empty room to include modern living room essentials, allowing you to instantly visualize ideas on the go.
Availability: Available in Chrome for Android starting next month.
5. Share with Anyone Using Quick Share & AirDrop
Google is announcing a massive expansion to Quick Share, making it compatible with AirDrop to solve the universal hassle of sharing files between different phone brands. If you are at a family gathering and want to share a video with friends using iOS, you can simply use Quick Share on your Android phone to generate a QR code. Scanning this code lets you instantly share high-quality media across devices via the cloud, breaking down the barriers between operating systems.
Availability: Expanding to more partners including Samsung, OPPO, OnePlus, Vivo, Xiaomi, and HONOR this year.
6. OSmosis: Wireless iOS-to-Android Transfer
Google is announcing OSmosis, a completely overhauled, wireless iOS-to-Android transfer process that makes switching phones easier than ever. You can now wirelessly migrate your passwords, photos, messages, favorite apps, contacts, and even your precise homescreen layout directly from your iPhone to your new Android device without needing a cable.
Availability: Launching first on new Samsung Galaxy and Google Pixel devices later this year.
7. Pro-Grade Creator Tools Natively on Instagram
Google is announcing an expanded partnership with Meta to bring pro-level camera and editing features natively to the Instagram app on Android flagships. Android creators can now enjoy Ultra HDR capture for lifelike, vibrant colors, along with built-in video stabilization to keep footage smooth while walking or dancing. The update also includes deep Night Sight integrations, ensuring you can capture the perfect shot even in the dimmest settings.
Availability: Rolling out to flagship devices throughout Q3 and Q4 2026.
8. Reclaim Your Time with “Pause Point”
Google is introducing Pause Point, a new digital wellbeing tool designed to help you stop mindless, autopilot scrolling. When you try to open an app you have identified as distracting, Pause Point gives you a mandatory 10-second breather to ask yourself, “Why am I here?” During this pause, you can do a quick breathing exercise or set a strict timer for your app usage. To ensure you stick to your goals, turning the feature off completely requires you to restart your phone.
Availability: Available in Q4 2026 across all countries and languages.
9. Unbreakable Biometric Theft Protection
Google is announcing a powerful new anti-theft measure that enhances the “Mark as lost” feature with biometric authentication. If your device is snatched, you can now lock it using your fingerprint or face in addition to the standard passcode. This provides an immediate, unbreakable layer of security, meaning that even if a thief spied on your PIN before stealing your phone, they will not be able to turn off device tracking or re-access your personal data.
Availability: Rolling out as a built-in feature on devices running Android 17.
10. Express Yourself with Noto 3D Emoji
Google is announcing Noto 3D, a massive update to the way we express ourselves with nearly 4,000 newly designed emoji. Moving away from flat 2D icons, these new 3D emoji bring a touch of physicality and weight to your digital conversations. Whether you are sending a wrapped burrito or a joyful smile, this visually vibrant collection bridges the digital divide, representing the difference between a message simply being received and a true presence felt.
Availability: Available across Google platforms, starting with Pixel phones later this year.
11. Fill Out Forms in a Single Tap with Gemini Personal Intelligence
Google is announcing an evolution to Autofill with Google, powered by Gemini’s Personal Intelligence. This new feature allows Android to automatically fill in complex forms across your apps and Chrome browser. By securely pulling relevant information from your connected apps or saved photos—such as passport details or frequent flyer numbers—your device saves you from the universal hassle of typing out tiny text on a mobile screen.
Availability: Rolling out in Q2 2026 for phones, and Q4 2026 for laptops and tablets.
12. Build Custom Widgets with Gemini Intelligence
Google is introducing Create My Widget, taking the first step in generative UI to give you more ways to make your device truly yours. You can now build entirely custom widgets just by describing what you want using natural language. For example, a meal prepper can ask for a widget that suggests high-protein recipes every week, or a cyclist can create a weather dashboard that surfaces exact wind speed and rain stats right on the home screen.
Availability: Launching in Q3 2026 for phones, watches, laptops, and tablets.
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