Telecom
NSE, Rack Centre Ink Partnership on Data Centre Colocation Services
Mr Oscar N. Onyema, chief executive officer, Nigerian Stock Exchange (NSE), has stressed the importance that technology has played in the quest to transform the NSE.
This is even as the NSE itself strives to play its strategic role in the development of the capital market both in Nigeria and the world at large.
Mr Onyema who was speaking recently at the CEO Briefing Forum, organised by Rack Centre Limited, the Nigeria Premier Tier III design certified data centre in West Africa, said the NSE will continue to focus on providing the “Best-in-Class “ technology with smart trading tools and enhanced market surveillance capabilities.
He said the current NSE management team led by him will continue in its avowed aim of a technological transformative agenda.
The NSE boss added that it was in realisation of this objective that it launched several “innovative solutions such as X-Compliance-Qual and Broker –Trax,” which were technologically driven, and had also rolled out the “X-Web and X-Whistle and the NASD trading system on the NSEX-Gen Platform,” which had been dubbed as the “fastest trading engine in Africa, being the first issuer of such a portal in West Africa.
Mr Onyema who expressed satisfaction with partnering with Rack Centre, said what stood the Data Centre out was its qualities of being “truly carrier neutral which gives an “access to multiple connectivity providers that can serve the brokerage community; localised IXPN which provides low latency for real-time trading and on line transaction; state of the art, Tier III Design certified, which provides assurance of uptime commitment to minimum of 99.982 percent availability, state of the art data centre technology environment that gives infrastructure a longer life and better performance; and an energy efficient, secure and modular technology scalable to about 3000 racks which help to meet the needs of brokerage community… and lower costs and therefore long term savings.”
Mr Onyema who said the protection of “data “ is the lifeline of the NSE, said he was not only impressed by the 100 percent Nigerian ownership of Rack Centre, but also that a partnership with Rack Centre was an “opportunity to experience world class right here in Nigeria’
Mr Onyema said technology, as well as working with companies like Rack Centre will enable the NSE to engage in international best practices, increase its presence in international and regional organisations, aid it in financial market modernisation, and increase its maturity in information security and also in crime reduction.
Enumerating what the Exchange had achieved with the help of Technology, Mr Onyema said the NSE today services the largest economy in Africa and is presently championing the development of Africa’s financial markets and has become the first West African country member of the World’s Federation of Exchanges.
Mr Onyema explaining the NSE Technology framework, said it was based on leadership through innovation, operational excellence through business transformation, and growth reputation through diversification, and that technology had impacted positively on its efficiency levels.
Mr Ayotunde Coker, managing director of Rack Centre pointed out the advantages of outsourcing data centre services through data centre colocation to include , significant cost reduction, efficient energy consumption, carrier neutrality and therefore diverse connectivity access points, most especially to international undersea fibre cables.
Lauding the partnership with the NSE, Mr Coker said the wholly Nigeria owned Rack Centre, which started operations in October 2013 and is the premier Tier III design certified Data Centre in West Africa is now recognised as the premium data centre facility in West Africa and is presently the only truly carrier neutral data centre in the sub region with 100% availability since launch.
Also speaking at the event which attracted Chief Executives from various companies, Mrs Bisi Lamikanra, Partner, KPMG, one of the BIG 4 international consulting firms, said in driving business growth, partnering with technology was key.
Mr Lloyd Crisp, managing director, Nigerdock, an oil service company, agreed with Mrs Lamikanra on the synergy between business growth and technology saying that technology had helped Nigerdock to be competitive and to serve its clients better. Technology said Mr Crisp, “had helped us to recruit manpower, analyse data and work better through the supply chain.”
Mr Olusola Teniola, MD Internet Solution, said going forward, adaptation of the environment to technology will be key and Ms Evangeline Wiles, managing director, Kaymu, an online retailer, said in the running of business, technology will continue to be an enabler.
News
NITDA Communications Director Hadiza Umar Named in 2026 PR Power List, Graces Glazia Magazine Cover
Mrs. Hadiza Umar, Director of the Corporate Communications and Media Relations Department at the National Information Technology Development Agency (NITDA), has been officially recognised as one of Nigeria’s top public relations professionals in the prestigious 2026 PR Power List.
The definitive annual list, compiled by GLG Communications in partnership with The Guardian, was unveiled to commemorate World PR Day.
It celebrates 50 outstanding professionals within Nigeria and the diaspora whose strategic communication strategies have significantly shaped organisations, influenced public discourse, and advanced the profession over the past 12 months.
Adding to the momentous milestone, Mrs. Umar was hit with a major surprise at the exclusive PR Power List Soirée and Awards ceremony held at the Alliance Française in Ikoyi, Lagos, where she was unveiled as a front-cover personality for the Glazia Magazine PR Power List Special Issue.
The double recognition highlights her exceptional distinction and impact in public sector communications and narrative management.
Speaking on the dual achievement, Mrs. Umar expressed profound gratitude for the honours, describing the magazine cover appearance as a breathtaking surprise.
“I am deeply humbled and honored to be recognized on the 2026 PR Power List and to feature on the cover of Glazia Magazine alongside other exceptional industry titans,” Umar said.
“This milestone is a testament to the enabling environment and visionary leadership of the Director General of NITDA, Kashifu Inuwa Abdullahi, CCIE, which has allowed us to strategically drive the narrative of Nigeria’s digital economy and technological innovation.”
Mrs. Umar, a highly respected corporate communications strategist, holds professional fellowships in the Nigerian Institute of Public Relations (Chartered), the African Public Relations Association (APRA), and the Institute of Corporate Administration (CICA).
Under her supervisory role, NITDA’s media relations have consistently projected national information technology frameworks, start-up support frameworks, and digital literacy initiatives, to position Nigeria competitively on the global stage.
The 2026 PR Power List selection process involved a rigorous, independent evaluation led by a distinguished international jury.
The organisers noted that the class of 2026 represents professionals raising the standard of strategic communications and introducing new ideas to the industry.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
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