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TAM Summit Highlights Technologies Potency in Time Management

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(L-r): Dr. Chris Ogbechie, chairman, Diamond Bank Plc; Mrs. Bukki George, founder and CEO, HealthPlus Limited; Obinna Ekezie, MD/CEO, Wakanow, and Afolabi Abiodun, CEO of SB Telecoms & Devices and Convener of the TAMS Summit, at the inaugural edition of the TAMS Summit in Lagos on Thursday.
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Africans have been urged to embrace technological interventions as practical measures to overcoming poor time management.

Panelists at the inaugural TAM Summit unanimously agreed that technology can aid individuals and organisations in setting clear timelines for their set goals and objectives.

TAM Summit under the theme, “From ‘African Time’ to ‘On Time’: A paradigm Shift”, was conveyed by SB Telecoms in Lagos on Thursday, May 19, 2016 seeking for attitudinal change while drawing attention to the economic loss in Africa due to the “African Time” mental appendage.

Speaking at the Summit, Mr. Afolabi Abiodun, CEO of SB Telecoms & Devices and Conveners, disclosed that a survey conducted with the aid of TAM solution, found that almost 12% of annual labour cost is lost to lateness, tardiness, time theft and absenteeism.

He said, that in an economic climate, such is a huge lost as there was no successful venture devoid of time as a major contributory factor.

Abiodun said, “In 2005, the American government set a goal to reduce their dependency on foreign crude oil from 60% of their total need to 30% by 2015 and 0% by 2020. One of their key follow-through mechanisms is the perfecting of the fracking technology to access their Shale Oil. Today, America’s daily production has increased from 5.4 million barrels in 2005 per day to 9.3 million barrels per day as at the end of 2015.

“For the past three decades, various Nigerian governments have touted Vision 2020 to take us to the Promised Land of development. Four years to expected delivery date, we are yet to scratch the surface of this laudable target. Why? Although it is easy to blame lack of political will and socio-economic factors, but the real culprit, in my honest opinion, is a lack of interest in doing things in a timely manner and a readiness to give excuses, even though Nigeria is well known for drawing plans and issuing communiqués”.

He lamented that lack of time management has eaten deep into the fabric of the African society, and has turned the people to victims- of its manifestations in corruption, infrastructural decay, apathy, poverty, and so on.

“But it would be difficult to have any meaningful development if we hesitate to demand accountability, not only of resources and budgets but also of TIME- in the private sector and at all levels of government. Because, as we all know, no society can hope to make progress or catch up if there’s a culture of disregard for time.

To solve the challenge, he said that SB Telecoms developed a Time Attendance Management Systems (TAMS) service which from 2013 to the present has been deployed by over 1,000 organizations (including multinationals).

According to Abiodun, “Currently, TAMS has become much more than a time management solution. Based on customer research and feedback, we have developed other modules such as: payroll, appraisal, vacation and leave management.

In the course of promoting time management and the value proposition of TAMS, a few business owners and HR practitioners have protested that punctuality has nothing to do with performance. My response has always been that if we took the time to do some number crunching, we would appreciate the cost of time to us.

“To achieve more productivity, TAMS is getting better and better. TAMS is integrated with 20 Commercial Banks and 56 Microfinance Banks and all Pension Fund Administrators. I am happy to inform you that TAMS is one of 150 solutions worldwide invited to the Global Entrepreneurship Summit in Washington DC, to be hosted by President Barak Obama next month”.

Nodding in agreement, Mr. Adeola Adejokun, principal partner of Kishi-Lagos, said that he strongly believes that technology makes life more exciting and helps improve the lives of people across the globe.

He said that applications like Google Calendar, Smart Planner, smart wristwatches, are proven solutions Nigerians and African at large can leverage to undo the sickening ‘African Time’ syndrome. 

Adejokun said, “I have realized that ‘African Time’ malaise as lack of consequence management enforcement which requires institutions that will monitor people in the work environment, whether in corporate or public sector.

“We can use technologies available today to tackle this head-on, because ‘time theft’ leads to erosion of values. Without rightly defined and times processes, it is usually difficult to have thr right culture in any place.

On her part, Mrs. Bukky George, who chaired the Summit, said that time like health is wealth and should be efficiently managed, hence poor time management is at the root of poor planning bedeviling the African society.

George who is also the founder/CEO of HealthPlus Limited, said, although ‘poor time management’ is a global phenomenon, Africans, especially youths must have attitudinal change to adapt to 21Century work environment, particularly,  every sector of the economy revolves around such principles as time, predictability and efficiency. 

She added that in spite the enormous infrastructural deficits in the country, proper time management can be maintained.  

Mr. Oyeniyi Oguntoyinbo, MD/CEO of Philliy & Mools, said that every thriving multinational (companies) today started on the clear-cut principles of strategic and conscious timing of programmes.

According to him, a service company, for instance, must be built around timely response to customer’s inquiries or dissatisfaction.

“It is amazing when you list the consequences of poor time management. We often use the phrase, ‘Time is money’, but a lot of employees do not appreciate the fact that late responses to customer’s questions can lead to the demise of the entity. It is an attitude we must address as a people, business and country or Continent. Time is same everywhere, and we can’t change it, rather invest it wisely,” Oguntoyinbo added.

 

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Access Holdings, Coronation Partner Tate Modern to Spotlight Nigerian Modernism

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Access Holdings Plc and Coronation Group have partnered with Tate Modern to commemorate World Art Day with a virtual session highlighting the global significance of Nigerian modernism.

Access Holdings, Coronation Partner Tate Modern to Spotlight Nigerian Modernism

Access Holdings

The event, titled “In Conversation with Osei Bonsu: Inside Nigerian Modernism,” featured a virtual tour of the Nigerian Modernism exhibition and discussions on the evolution of modern art in Nigeria.

The session brought together staff members across both organisations, reflecting growing institutional engagement with arts and culture as a driver of societal development.

Speaking at the event, Chief Communications and Marketing Officer of Coronation Group, Ngozi Akinyele, emphasised the role of art in shaping identity and national development.

She said that beyond financial capital, cultural and intellectual capital are essential in defining a nation’s prosperity and inspiring dialogue.

Akinyele noted that both organisations were committed to democratising access to art, ensuring it is accessible to a wider audience rather than a select few.

The discussion also featured insights from Tate Modern Curator, Osei Bonsu, and art expert Daniel Wallis, who examined the development of Nigerian modernism and its global relevance.

Bonsu said Nigerian modernism represents an independent reimagining of global art, rooted in the country’s diverse cultural heritage and expressed through unique visual languages.

According to him, the movement challenges narrow, Eurocentric definitions of modernism and highlights the richness of African artistic expression.

The session further underscored the growing international recognition of Nigerian art, particularly through exhibitions at Tate Modern.

Participants also reflected on the visit of Bola Ahmed Tinubu to the exhibition, described as a milestone in promoting Nigeria’s cultural heritage globally.

In his closing remarks, Chief Communications Officer of Access Holdings, Amaechi Okobi, reaffirmed the organisation’s commitment to advancing African narratives on the global stage.

He said the collaboration with Tate Modern aligns with broader efforts to promote dialogue, preserve cultural identity and support the creative sector.

The event reinforced a shared commitment by Access Holdings, Coronation Group and Tate Modern to elevate African art globally and ensure Nigerian cultural narratives continue to shape international conversations.


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NDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems

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Nigeria Data Protection Commission (NDPC) has issued a regulatory advisory to data controllers and processors across the country following what it described as escalating threats to Nigeria’s data security architecture.

NDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems

NDPC

In a statement signed by Babatunde Bamigboye, lead of Legal, Enforcement and Regulations, the commission said its technical assessment revealed that some shadowy threat actors were engaged in coordinated operations targeting financial systems and critical digital infrastructure in Nigeria.

The commission urged public institutions to comply with the presidential directive of Bola Ahmed Tinubu, which emphasises the strategic importance of data in national development.

According to the NDPC, the President had declared that “data is the new oil,” stressing the need for Ministries, Departments and Agencies (MDAs) to rigorously capture and safeguard information in line with the Nigeria Data Protection Act, 2023.

The commission therefore advised all data controllers and processors to urgently strengthen their technical and organisational measures to protect personal data and ensure compliance with the law.

It listed key measures to include the appointment of trained and certified Data Protection Officers, implementation of comprehensive privacy policies and information security standards, as well as conducting Data Privacy Impact Assessments.

Other measures recommended by the NDPC include deployment of robust identity and access controls such as Multi-Factor Authentication, adoption of zero-trust security architecture, prompt remediation of system vulnerabilities, and continuous patch management.

The commission also emphasised the need to secure cloud infrastructure, application programming interfaces (APIs), databases and access credentials, alongside real-time monitoring, logging and threat detection systems.

Further recommendations include encryption and secure credential handling, regular vulnerability assessment and penetration testing of critical systems, as well as routine backup and resilience testing.

The NDPC warned that organisations that fail to implement appropriate data protection measures in accordance with the Nigeria Data Protection Act, 2023 risk legal liabilities.

It reiterated its commitment to providing regulatory support to organisations while ensuring the protection of personal data and strengthening institutional resilience across all sectors.


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Africa’s Forex Market in 2026: Key Trends Every Trader Should Watch

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The forex market across Africa is witnessing more participants and more regulatory attention than it did just a few years ago. This growth is part of a bigger picture: Sub-Saharan Africa is expected to expand by 4.3% in 2026, while global forex turnover already hit an estimated $9.6 trillion daily in April 2025. However, there’s more to it than macroeconomic figures.

Africa's Forex Market in 2026: Key Trends Every Trader Should Watch

The trends reshaping the market are happening from within. Here are six worth paying close attention to.

1. Trading Has Moved to the Phone

The number of people accessing the market via mobile phones exceeds those accessing it via traditional bank systems. GSMA states that in Sub-Saharan Africa alone, there are more than 1.1 billion registered mobile money accounts.

The International Monetary Fund states that digitalisation and increased usage of the internet are changing payment systems in the Sub-Saharan Africa region.

Mobile access changes traders’ behavior. It lowers the barrier to entry and speeds up deposits and withdrawals. Therefore, brokers who can provide a quality mobile trading experience will have a huge advantage.

2. Regulators Are Watching

The market is becoming more structured and more transparent. In South Africa, the FSCA regulates market conduct for financial institutions. In Kenya, the Capital Markets Authority regulates capital markets and maintains a licensing system that includes online forex brokers.

Nigeria’s SEC has publicly warned that online retail forex trading can be subject to abuse when unregulated. It also provides tools for investors to check operators’ registrations.

As a result, in 2026, more traders are likely to favour brokers that can show clear licensing, transparent operations, and stronger investor safeguards.

3. Volatility Varies by Country

A common mistake is perceiving the African market as one entity. In reality, according to RegTech Afrika, there are 21 countries out of a total of 54 that have a chance of seeing their currencies depreciate in 2025, with some of them losing value by as much as 6% or more.

A trader watching the rand, naira, shilling, or cedi, regional headlines needs more than regional headlines. Country-level macro data, central bank moves, and the US dollar will still play a major role.

4. Cross-Border Payment Infrastructure Is Quietly Improving

Platforms like PAPSS are helping make payments across African countries faster and easier to complete in local currencies. According to official announcements of PAPSS, it has become operational in 18 countries across Africa, with its latest launch in Algeria in 2025. It has also become operational in Kenya through a partnership with KCB Group, as well as in Rwanda through a partnership with Bank of Kigali.

Step by step, Africa is becoming a more financially connected continent.

5. Execution Quality Is the New Standard

Data from the BIS shows that in April 2025, three-quarters of FX trades were intermediated by the global centers of the United Kingdom, the United States, Singapore, and Hong Kong. Therefore, the best liquidity and best prices are still linked to global conditions.

For local markets, this raises the bar. Forex traders are becoming increasingly aware that tight spreads, while important, mean little without reliable prices and execution. Brokers like JustMarkets that can bring all of these elements together are in a much stronger position than competitors.

6. Education as a Necessity

Regulatory disclosures from major global brokers illustrate how tough it is to trade without proper knowledge. According to publicly available disclosures, between 70% and 80% of retail investor accounts lose money when trading CFDs.

Forex traders who understand risk management and which financial news to follow have a better chance of surviving the market. Brokers who invest in education are more likely to be seen by traders as valuable partners rather than mere facilitators.
The Market Rewards the Prepared

Africa’s forex market in 2026 is shaped by volatility, stricter rules, and mobile-first trading. The traders who combine market knowledge with the right tools and the right broker will find real opportunity here, while those who don’t adapt will find the market increasingly unforgiving.


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