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PFS Decorated @ IBSQ Awards

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Yele Okeremi, CEO, PFS
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Aspire West Africa in collaboration with the Entrepreneurship and Leadership Initiative for Development at its annual international business conference in Ghana has conferred International Business Star Quality [IBSQ] Award on Precise Financial Systems [PFS] as best software company in Africa.

The annual honours in various categories, recognizes organisations that have excelled in their services and continued to push the limits of quality with fresh innovations.

Aspire West Africa, a US-based sub-regional magazine, said in a statement that PFS earned the award for working in a dynamic economic sector where access to trusted and quality software products and solutions are extremely challenging for business.

“PFS have kept faith with Nigerians without diminishing its standards in service delivery and brand quality”. Its commitment in the design of electronic payment software services have moved it to innovate around service quality.

“This has enabled it to stand out in its sector and used as a reference point in Africa”, the award organizers said.

While commenting on the IBSQ award, Theophilius Enyali, executive secretary of Aspire West Africa, said the award takes a comprehensive look at the hard work that business leaders put into their companies, adding that Aspire recognised the efforts of exceptional employees, and so “provides motivation for continuous progress. We desire that this award will spur PFS to greater height in quality service delivery”.

PFS’ innovative software solutions are running thousands of computers, serving numerous clients in Nigeria and 27 other countries in Africa.

The company’s cutting edge environmentally-friendly software technologies include an integrated account reconciliation solution, cheque and e-payment processing, security and remittance solution as well as send-to-end outward and inward cheque clearing solutions.

Recently, PFS worked with the Nigeria InterBank Settlement Systems (NIBSS) to shorten the settlement cycle of a cheque to one day. PFS has implemented the cheque truncation lifecycle for the Central Bank of Nigeria [CBN].

This project ensured that all cheques presented for settlement are resolved within stipulated date across the country.

With the activation of the cheque truncation regime through PFS’ iTELLER platform in Nigeria, important challenge the system has addressed is the ability of the CBN to meet the deadline for cheque truncation nationwide.

Aside, the platform has also assisted the CBN to reduce cost, time and the stress level involved in its cheque clearing operations. The system “removes all logistics costs” associated with clearing.

Enyali said the IBSQ award recipients are nominated and ratified by an international award board comprising leading business experts, employing a rigorous and transparent selection process.

The board received input from influential business and media executives before ratifying the nominations.

He added that recipients are selected based on their commitment and contributions to excellence, innovation and technology leadership within their various sectors of operation.

“Brand quality and business results are also considered”, he said.

Over the years, PFS has worked with many agencies and partners to deliver financial software services to its clients.

These partners include Microsoft Corporation, Ernst Reiner Gmbh & Co. KG, Germany, Arit of Africa, and International Marketing Partners. PFS is also a member of the Presidential Initiative for development of the software industry in Nigeria and a member of the CBN working group on Automated Clearing House and Cheque Truncation.

Others are cheque MICRisation and personalisation solution, banking and finance solution, bonds and financial derivatives trading and monitoring solution, bureau de change solution; cooperative societies solution, stock brokering solution; billing and revenue collection solution. Card issuance and monitoring systems, self-service cheque, cash and card deposit with withdrawal solution, pension remittance monitoring solution, project appraisal and monitoring solution.

Through these ingenious solutions, PFS has successfully positioned itself as a foremost force in the financial software development space of the nation.

 


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E-Business

Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone

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Galaxy Backbone (GBB) aligns with and celebrates the successful announcement by the Office of the Head of the Civil Service of the Federation on the achievement of a Paperless Civil Service, a significant milestone in Nigeria’s public sector reform and digital transformation agenda.

The milestone was formally highlighted at a press briefing led by the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, who commended Galaxy Backbone for its sustained support and contribution throughout the implementation of the programme.

GBB has played a critical role in enabling this transition by providing secure, scalable, and shared digital infrastructure that supports the digitisation of government processes across Ministries, Departments and Agencies (MDAs). Through the 1Government Cloud, MDAs have been empowered to migrate from paper-based workflows to digital platforms, improving efficiency, collaboration, data security, and service delivery across the Federal Civil Service.

In addition, GovMail, GBB’s secure government email platform, has strengthened official communication, enhanced records management, and reinforced cybersecurity standards—key pillars in sustaining a paperless operating environment.

Galaxy Backbone acknowledges the collective efforts of the Office of the Head of the Civil Service of the Federation, Permanent Secretaries, Directors of ICT, consultants, partners, and dedicated public servants whose commitment and collaboration ensured the smooth delivery of this initiative.

The Managing Director/Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, was represented at the press briefing by Akintayo Bamisaye, Acting Group Head, Research, Digital Innovation and Skills Department (RDIS).

GBB describes the achievement as a strong close to 2025 and reaffirms its commitment to supporting the Federal Government in building a modern, efficient, and digitally enabled public service.


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Jumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity

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At the close of 2025, Temidayo Ojo, the CEO of Jumia Nigeria, reflected on a year-end shopping season that points to the growing maturity of the country’s e-commerce market. “Black Friday is no longer a single, short-lived spike in activity,” he said.

“It has become a familiar, anticipated moment in the retail calendar, where consumers shop deliberately and with confidence.”

Preliminary KPIs for the two months ended November 30, 2025, show strong year-on-year growth in both orders and Gross Merchandise Value (GMV), with GMV growth outpacing order growth. This indicates that customers are placing fuller, more considered baskets rather than shopping in fragmented transactions. Nigeria ranked among Jumia Group’s better-performing markets, with engagement remaining steady throughout the Black Friday period rather than spiking briefly and tapering off.

A key factor behind this performance is the growing familiarity of consumers with online shopping. Customers are increasingly leveraging platform features such as saved carts, brand stores, and price comparison tools to plan purchases in advance. This trend suggests that digital commerce is becoming embedded in everyday habits rather than being viewed as a one-off event.

Ojo also highlighted the role of Jumia’s JForce network in connecting digital commerce to local communities. “Our agents are critical to ensuring that customers across Nigeria, including secondary cities and smaller communities, have access to variety, consistent pricing, and reliable delivery,” he said. “During peak periods like Black Friday, JForce agents can respond faster, serve more customers efficiently, and build stronger local relationships. This isn’t just a distribution channel—it’s a pathway to sustainable income and inclusion.”

Reflecting on the overall performance, the CEO concluded: “What we’re seeing this year-end is steady engagement across categories, stronger consumer confidence, and partners like our JForce agents benefiting from increased activity.

“It confirms that Nigeria’s e-commerce ecosystem is maturing, growing in a more structured and resilient way. As the December Holiday Sale continues, we expect these patterns of familiarity, trust, and participation to sustain momentum and drive both commerce and community impact across the country.”


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Galaxy Backbone Tops FG’s Website Performance Ranking

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Galaxy Backbone Limited (GBB) has been ranked first overall in the 2025 Federal Government Website Performance Scorecard.

Galaxy Backbone Tops FG's Website Performance Ranking

This is a landmark achievement for Nigeria’s digital economy.

The ranking, conducted by the Bureau of Public Service Reforms (BPSR), is the definitive benchmark for digital excellence and transparency across all Ministries, Departments, and Agencies (MDAs).

Professor Ibrahim Adepoju Adeyanju, managing director and CEO of Galaxy Backbone, received the award during a ceremony in Abuja.

He described the feat as a validation of the agency’s“Nigeria First”data sovereignty strategy and its relentless pursuit of service excellence.

This recognition comes as the Federal Government intensifies its push to achieve a fully paperless civil service by December 31, 2025.

GBB has been the primary architect of this transition through its 1Gov Enterprise Content Management (ECM) platform, which now hosts the operations of almost all federal MDAs.

The award adds to a growing list of accolades for Galaxy Backbone in 2025, following its recent win of the “International Standard Excellence Award for Best IT Service Provider.”

As the central hub for government shared services, GBB’s performance serves as a blueprint for other agencies currently undergoing digital transformation.

With its expanded fiber-optic backbone now covering over 13 states and its secure cloud solutions, Galaxy Backbone remains the cornerstone of Nigeria’s vision to become a leading digital nation by the end of the decade.

 


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