E-Business
Shedding Light on Block-Chain

Technology has evolved over the years, throwing up disruptive capabilities within the polity as well as coming with interesting nomenclatures. One of such is what is called “Block-chain”.
Chukwuemeka Fred Agbata Jnr, caught up with Oluseyi Akindeinde, Chief Technical Officer at Digital Encode recently on Tech Trends on Channels Television, to shed more light on what Blockchain is all about.
Oluseyi, the Chief Technical Officer at Digital Encode, is one of the leading tech guru in Nigeria.
Describing what block-chain is, Oluseyi explained that it is the latest thing on the internet and, in fact, the second most important thing after the emergence of the internet itself.
Block-chain, he explained, will have the same kind of impact that the internet had when it was first introduced. Block-chain was developed in 2008 by some guys who thought of how to further simplify online payment transactions.
One the practical use of block-chain, the first application of block-chain, Oluseyi stated, is the block-chain 1.0, which enables currency in digitized cash. In other words, the same thing you can do with physical cash, you can now do on the block-chain, according to him.
The essence of block-chain is that it takes away the third party in an online financial transaction, thus, making the transaction possible between the buyer and the seller directly.
Before the advent of block-chain, the buyer and the seller used to transact their online financial business through trusted online traditional payment houses such as Paypal, VISA, MasterCard, etc, but now these third parties are removed completely from the transactions, Oluseyi reiterated.
Giving an illustration. Oluseyi said trading on the Stock Market, e.g., trying to sell your Shares on the Stock Market to someone else , will usually require you to seek the services of a Stock Broker or Registrar (third parties) in order for the transaction to sail through.
With block-chain, however, you can digitize the Share Certificate and the buyer too can digitize the cash and both of you can meet on the block-chain through a decentrslized exchange platform, peer to peer, to finalize the transaction.
All you need, stated Oluseyi, is a Laptop and Software, hence, the financial sector is already disrupted and will continue to be disrupted.
He agreed that the banks are not too happy with it as it’s already taking away some of their businesses, just as the Post Offices were not happy with the internet when it was first introduced as it took most of their jobs.
He, however, said there was nothing the banks can do about block-chain as it has come to stay. He maintained that since block-chain, like every other thing on the internet, is decentralized, there is no regulation on it. He stated that some countries, such as Tunisia has put their currency on the block-chain.
Oluseyi said that with block-chain bitcoin, you can make small financial transactions as the fee is usually a fraction of the amount being transacted instead of s huge fixed charge.
No cross-border or censorship fees are charged. He observed, in the final analysis, that, banks are now seeking ways of leveraging block-chain since they have seen that it has come to stay. You can watch the full length of the Interview here
CFA is the Founder, www.techsmart.ng and Co-producer/Presenter,Tech Trends on Channels Television.
E-Business
Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.
Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.
This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.
Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.
According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”
Similarly, Kashifu Abdullahi, director-general, NITDA, also stressed the need for collaborative efforts in fighting cybercrimes.
According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.
“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.
“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”
Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.
He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.
The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.
The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.
E-Business
AXIAN Telecom Invests in Jumia Post-MTN Era

XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.
This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.
AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.
While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.
“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.
Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.
But years of underperformance, leadership changes, and competitive pressures dented investor confidence.
In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.
Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.
The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.
Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.
Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.
The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.
E-Business
NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

Abisoye Coker-Odusote,, DG, NIMC
She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.
The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.
As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.
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