Connect with us

News

Path Solutions wins 2020 World Islamic Fintech Awards

Published

on

Kindly share this post

Path Solutions, a global software and services provider to the Islamic financial services industry, today announced it has emerged as winner of the ‘Best Islamic Financial Software Provider’ category in the World Islamic Fintech Awards 2020 of REDmoney Group.

According to the judging committee, the array of submissions received for the category of ‘Best Islamic Financial Software Provider’ was impressive. With contenders from the Middle East and South Asia to Central Asia and Southeast Asia, the decision was certainly not easy.

IFN Fintech spokesperson commented, “This prestigious title has gone to heavyweight Path Solutions which has built an empire over the last three decades, trying to find new opportunities amid chaos to advance its mission. The success of the company is driven by – among others – its strong focus on research and development (R&D).

Today’s announcement builds on Path Solutions’ momentum as the company continues to drive impact with some of the world’s most innovative Islamic banks globally despite the unprecedented pressures from the global COVID-19 pandemic.

Only recently, Path Solutions has signed a comprehensive software deal with Mogadishu-based Amana Bank to deploy a single, cloud-based digital banking platform to underpin the bank’s operations. Congratulations on a well-deserved accolade”.

The year 2020 has been a greatly challenging year for most. However, the rise of open banking and the massive surge in demand for digital channels in Islamic banks due to COVID-19 lockdowns has placed technology as a survival imperative and a key driver of growth and differentiation for Islamic banks.

Path Solutions is a global industry pioneer and software leader and has built iMAL, the only digital core banking platform certified by AAOIFI, incorporating robust features that support Islamic accounting with traceability, and addressing both international and country-specific banking needs.

With seamless processes and digital capabilities in place, iMAL enables Islamic banks to cater for new innovative financing and investment products with minimum setup time and effort, and with a speed and ease of use that is unmatched in the industry. The company is well placed to help Islamic banks achieve Sharia compliance as well as their transformational aspirations.

“For all the right reasons, Path Solutions is the globe’s preferred Islamic banking software provider, equipping Islamic banks with innovative solutions that digitize their business operations and deliver an improved customer experience”, commented Mohammed Kateeb, the Group Chairman & CEO of Path Solutions.

“The global pandemic has put our clients at the front lines of dealing with not only a rising demand for digital services, but also an unprecedented number of online transactions.

They required the scalability to serve this spike in number of transactions, the flexibility to deliver unique and compelling experiences and the agility to introduce new products at a rapid pace. Path Solutions quickly dedicated its teams and expertise to help them tackle historic challenges with innovative branchless solutions.

In a matter of weeks, our powerful Islamic banking technology was able to serve millions of people globally and execute mission-critical workflows. We are honored to be named ‘Best Islamic Financial Software Provider’ in 2020 for doing impactful work and helping create a better normal to our Islamic banking community”.

The World Islamic Fintech Awards (WIFA) honor exceptional and deserving fintech providers in the Islamic finance space for their outstanding work in driving Sharia-compliant financial services through disruptive and collaborative technologies. In an atmosphere of seismic disruption across all industries and a vibrant technology ecosystem, only those organizations who have innovated ruthlessly are worthy of being commended.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

Published

on

Kindly share this post

The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.

Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.

The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.

Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.

The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.

Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.

Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.


Kindly share this post
Continue Reading

News

SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

Published

on

Kindly share this post

The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.

The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.

The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.

Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.

Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.

Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.

The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.

In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.

“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.

He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.

“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”

The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.


Kindly share this post
Continue Reading

News

APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

Published

on

Kindly share this post

The National Chairman of the All Progressives Congress (APC) has approved the appointment of Mr. Abimbola Tooki as Special Adviser on Media and Communication Strategy.

APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

Mr. Abimbola Tooki

The appointment reflects the Chairman’s confidence in Mr. Tooki’s vast experience, professional pedigree, and proven capacity to deploy strategic communication in strengthening party cohesion, public engagement, and effective message delivery at both national and international levels.

Mr. Tooki is a celebrated journalist, columnist, and media strategist with deep expertise in governance reporting, crisis communication, information management, and team leadership.

He is widely regarded for his ability to bring institutions closer to the people through the effective use of conventional and digital media platforms.

His career demonstrates a consistent track record of innovation, results-oriented leadership, and excellence in managing internal and external communications.

A versatile Information and Communications Technology (ICT) editor for many years, Mr. Tooki managed and developed influential ICT and business sections in leading newspapers, contributing significantly to public understanding of technology and economic issues.

He also pioneered major newsroom initiatives, including the establishment of specialised ICT publications, and is respected for his sharp analytical skills and solution-driven approach in fast-paced environments.

His professional journey spans several reputable media organisations, culminating in his role as Editor of BusinessWorld Newspaper, where he oversees editorial direction, production, administration, and corporate management.

He previously rose through the ranks at Financial Standard, earning rapid promotions due to exceptional performance, intellectual depth, and dedication to duty.

Mr. Tooki is also a familiar face and respected voice in broadcast media, serving over the years as a guest analyst on platforms such as Channels Television and other national stations, where he analyses major headlines, public policy, and issues of national importance.

Academically, he holds an MBA from Obafemi Awolowo University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, and a Bachelor’s degree in Language Arts from the University of Ilorin.

In his new role, Mr. Tooki is expected to provide strategic direction for the Chairman’s media engagement, strengthen the APC’s communication architecture, manage reputation and messaging, and enhance the party’s interface with stakeholders, the press, and the Nigerian public.

The APC congratulates Mr. Abimbola Tooki on his appointment and wishes him success as he brings his wealth of experience, energy, and professionalism to bear in support of the Chairman and the party at large


Kindly share this post
Continue Reading

Trending