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Nigeria Losses Revenue from Improper Planning- Oyedokun

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Nigeria Losses Revenue from Improper Planning- Oyedokun

Mr. Oyewole Ayodeji Oyedokun is the president, Records and Information Management Awareness Foundation (RIMA Foundation).
He is a member of renowned international networking bodies, such as the Network and System Professionals Association, USA; International Association of Business Communicators (IABC); Association for Information and Image Management (AIIM) and Computer Professional Registration of Nigeria. He works for a major oil and gas company in Nigeria, where he has served for over thirteen years and still waxing stronger.
 Oyedokun was among a thirteen-man committee inaugurated in March 2010b by the Lagos State Government for the formulation of Policy on Records and Archives management in Lagos State. At RIMA’s first quarterly training for Information Management professionals, he spoke with Peter Ugwu on the imperative of a national database, among other issues. Excerpt.    

Encouraging Societal Changes through ICT and Records Management
 
Overview of RIMA’s Activities

RIMA has been in operations since 2004 as a Non-profit Non-Governmental Organization (NGO), with the sole objective of promoting proper management and security of records and information in Nigeria, and Africa in general; for the benefit of the society encouraging investment and provision of employment opportunities.

 
Records and Information Management (RIM): A specialized Discipline

Yes; RIM is a specialized discipline with gamut of disciplines that requires different skill set. Some of the functions in the Records and Information Management (RIM) industry include but not limited to Records Management (RM), Archives Management (AM), Documents Control (DC), Health Information Management (HIM), Data Management and Analysis (DMA) and so many others. Regrettably, within the scope of Africa, one will discover that majority of these disciplines are almost non-existing and people have been lamenting for lack of employment opportunities; uncharitable structures for investment and so on. RIMA Foundation discovered this gap and realized that by developing the records and information management industry; this will really help to alleviate the sufferings of our teeming youths. Records and Information are very important aspect of any business, required for the efficient administration and sustenance of the business regardless of the sector they belong to. And when we talk about governance, we will find out that majority of the problems we are piqued with, especially in this part of the world, are largely drawn from poor handling and management of records and information thereby making it almost impossible for government to demonstrate to the populace talking about transparency and accountability, not necessarily in the financial aspects alone, but in the area of good information management governance. For example, for a government to prepare a budget; beneficial to the citizenry, there has to be accurately captured and recorded information concerning the population, which will inform certain government’s decision in implementing assured policies. Information, if properly harnessed could give government the right direction. You can imagine, each general election period in Nigeria is followed by revalidation of voters register, with several millions budgeted for it, but if we had a proper national database, budgetary allocation to such exercise would have been cut down and channeled towards other developmental projects.

 
Records and Information Management Policy Debate

I will say this forms part of our mandate. Our directive is to identify the various gaps, challenges being faced in the information management industry, covering both private and public arena, and proffer a way on how to tackle them. So, we are favorably disposed to any legislation that will promote proper handling, management and security of records and information in Nigeria.

 
Improper Information Management and Security Lapses in Nigeria

Infact, managing information is very keen and directly applicable to every facet of our life. So, in the area of security, if we had maintained good information governance about the citizenry, adequate security would not have eluded us as it is presently.

 
Manual Record Management in ICT Era

There are cases of things being done wrongly because of the system we run in Nigeria, and so many things are responsible for that. Firstly, there is growing fear in people when it comes to ICT. In fact, some people, when you mention ICT, they are thrown off-balance; a lot of people feel threatened by this. Even in organizations, workers will think that implementation of ICT solutions will lead to job loss, which is not. Is aimed at enhancing whatever activity they are involved in. They are supposed to see it as complement to whatever profession they are involved in. IT is not coming to take over anybody’s job; rather it will create greater opportunities and better career ladder which will eventually give room for growth within the organization.

 

Awareness Campaign

We have been involved in so many awareness campaigns to raise the tempo for proper management of records and information in Nigeria and other parts of Africa. We have worked with many international organizations for us to learn best practices, around the world. We target a-home-grown solutions to our problems and our activities are progressive in nature. RIMA has been partnering with a good number of international organisations on different projects and programmes. Aside the free quarterly training organized for students, professionals and other interested members of the society, we have outlined a number of awareness programmes for the year. And we are not giving up in promoting professional ethics among RIM practitioners in Nigeria and Africa. Quite a number of them are not aware of certain expectations that they are supposed to leave up to within their organisations, which is one of the key consciousnesses RIMA Foundation is out to create in them.

Perils of Inexistence of National Database

Apart from the improper planning and decision making suffered by the different countries as a result of lack of a national database, the country will continue to loss revenue.

 
Generic or Unified Retention Period of Confidential Records

The implications of not having a generic or unified retention period for confidential documents has a lot of negative implications, but I will stress on the fact that if we continue to shy away from maintaining a general standard for every practice, we should not expect (positive) results. Because people will tend to do things the way it suits them; which boils down to revenue loss. We will continue to mark time, while losing valuables. And the process must be back up by the law.

 
SIM Card Registration and Skeptic Public

I will not out-rightly blame whoever is skeptic about his or her data being captured, particularly in the absence of framework or infrastructure in place, like the records and information policy we are harping on. Presently, we do not have laws to address personal information protection act or law in Nigeria. In fact, it is very wrong for government to start asking for (personal) information from the masses without putting the necessary infrastructure in place, because a house that is not built on a solid ground will collapse.   

 
Unfair Treatment of Professionals

I will share the blame between the practitioners and the organizations. From our findings, quite a good number of Information Management Professionals (IMPs) are not doing enough to convince their management on how relevant they are to operations of their organizations. Some of them are not innovative enough to come up with projects that will add value to their organisations. Talking about the organizations, you will find out that most of them are yet to realize that information is a very important aspect of their businesses, thereby not regards it as an asset to cater for and guide jealously. These are some of the challenges that we (RIMA Foundation) believe will be overcome with time as we proceed in our resolve for a better society through information management.  
 


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Top Nigerian Startups Secure Funding Boost @ iHatch Demo Day Awards

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Nigeria’s startup ecosystem received a fresh injection of momentum as top emerging ventures secured funding and investor attention at the iHatch National Demo Day, where Interface Africa clinched the highest prize of $15,000.

The 4th cohort of the NITDA–JICA-backed accelerator brought together founders, policymakers, and venture stakeholders in Abuja, showcasing innovations ranging from clean-energy financing and digital food marketplaces to next-gen fintech tools.

The startups went rounds of running through state-level selections and regional competition. iHatch was established in 2021 as a strategic partnership to create an enabling environment for young Nigerians to develop and scale their innovative solutions.

The iHatch National Demo Day (4th Cohort), is an initiative by NITDA and JICA which provides a clear pathway for homegrown talent to contribute significantly to economic diversification and digital transformation.

After rigorous selection processes, the top founders converged to pitch their innovations, recognised the standout performers, which are:

Interface Africa with $15,000, the firm is driving Nigeria’s clean energy transition by enabling structured and affordable solar financing.

Ahioma with $12,000, the firm enhances food accessibility with a digital marketplace connecting consumers directly to trusted vendors.

Linia Finance with $10,000, the firm is helping Nigerians take control of their finances with tools for budgeting, tracking, and smart money planning.

Chapta got a laptop reward. They delivering an offline-capable school application ensuring consistent, accessible learning for students everywhere.

Softdrop also got a laptop reward, they solve logistics challenges through a modern delivery platform designed for speed, convenience, and efficiency.

 


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Fidelity Bank to Host Virtual Masterclass on New Tax Law

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Fidelity Bank Plc, a leading financial institution, will host a free virtual training on the Nigeria Tax Act 2025 (NTA) as part of its commitment to helping small businesses prepare for the upcoming legislation.

Fidelity Bank to Host Virtual Masterclass on New Tax Law

Fidelity Bank

The masterclass is scheduled for 10:00 AM (Nigerian time) on Friday, 12 December 2025. It will provide participants with clear insights into changes in the tax framework, the impact on income and business operations, and practical steps to avoid penalties in 2026.

Attendees will also learn strategies to stay ahead in an evolving regulatory environment.

The Nigerian government enacted major tax reforms on 26 June 2025 when President Bola Ahmed Tinubu signed four tax bills into law.

These Acts will take effect on 1 January 2026 and represent a significant overhaul of the country’s tax system.

The reforms aim to modernize and harmonize Nigeria’s tax framework, improve revenue generation, broaden the tax base, and create clearer rules for individuals, businesses, and government agencies.

“Our decision to host this masterclass reflects our commitment to empowering businesses with the right information ahead of the commencement of the new tax regime.

“Information is money and a well-informed business owner is already steps ahead in the race to success.

“This is why we are bringing experts to provide accurate details and demystify the tax act,” said Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc.

Interested participants can register via https://bit.ly/2026TaxLawMasterclass .


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PalmPay MD Seeks Deeper Financial Inclusion @ CeBIH Annual Conference 2025

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L-r: Chika Reginald Nwosu, Managing Director, PalmPay; Tunde Ogundipe, Co-Founder & Chief Executive Officer, E-Doc Online; Emezino Afigbe, Head, Gender Center for Excellence, Enhancing Financial Innovation and Access (EFInA); Ronke Kuye, CeBIH Advisory Council; Dr. Badamasi Lawal, CEO National Social Investment Program; Uche Uzoebo, Chief Executive Officer, Shared Agent Network Expansion Facilities (SANEF); Dominic Wadongo, Chief Risk Officer, SmartCash Payment Service Bank, Nigeria, at the CeBIH Annual Conference recently.
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PalmPay, Nigeria’s leading digital banking platform, has renewed its commitment to deepening financial inclusion across the country. At the CeBIH Annual Conference 2025, themed “Reimagining Financial Inclusion through Cultural Shifts in Consumer Credit,” PalmPay’s Managing Director, Chika Nwosu, urged industry players to deepen financial inclusion by embracing community-aligned solutions and customer-centric innovations that can better serve Nigeria’s underserved and unbanked populations.

Speaking during a panel session titled “Social Inclusion, A Veritable Tool for Financial Inclusion,” Chika Nwosu joined other industry leaders to share insights on strengthening participation among women, rural dwellers, low-income earners, and other financially excluded groups.

Chika Nwosu highlighted PalmPay’s commitment to inclusive finance through its 500,000-strong agent network, which enables seamless cash-in/cash-out services for unbanked users across Nigeria. He also emphasised the importance of PalmPay’s USSD platform, 861#, which allows users with basic phones or limited internet access to perform essential financial transactions.

“Financial inclusion goes beyond access; it must be equitable and tailored to real-life needs,” Chika Nwosu said. He shared how PalmPay leverages behavioural insights to design impactful services, including affordable health insurance, reliable bill payments, merchant solutions, and automated savings features that support financial discipline among users.

The session further examined the role of grassroots agents and community touchpoints in driving last-mile adoption. Chika Nwosu noted that PalmPay’s widespread community presence continues to build trust and encourage excluded populations to embrace digital financial tools.

The session was moderated by Ronke Kuye of the CeBIH Advisory Council and featured representatives from E-Doc Online, SmartCash Payment Service Bank, SANEF, and EFINA.

PalmPay reaffirmed its commitment to driving accessible, secure, and inclusive financial services for all Nigerians. PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.

Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.


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