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There’s a Line Between e-Payment and Mobile Payment-Moroney

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Sean Moroney, is chairman of Aitec Africa, whose core business since 1987 has been focussed on ICT publishing, event management, professional development and training in Africa.

Moroney’s company has been market-leading pioneer in terms of spreading knowledge on the Internet, computing and telecommunications across most of English-speaking Africa.
 He spoke to hilary okeke on the forthcoming Aitec banking and payment technology conference and other issues.

Aitec Banking and Payment Technology Conference
Aitec Banking and Payment Technology Conference is a platform where experts in banking technology from Nigeria, South Africa, U.K and other parts of the world, come together to share their knowledge with the professionals and managers that attend the conference. Last year we had over 400 delegates attending the conference. In parallel with the conference, we have the exhibition which is the marketing showcase for the industry. Here, we see the latest technologies for the banking and financial services sector under one roof, providing a competitive situation where the banks and other potential buyers of the products can compare and actually quiz the companies that are on display about the services they are providing.

Major Achievements

The Banking and Payment Technology Conference has transformed the development of the financial credit sector from one that is rather traditional and colonial in perspective, to one that is now more outward looking, more inclusive and providing services for the unbanked. The problem that the conference has is that the vast majority of the populace still remains unbanked. They do not have basic financial services in order to transfer funds; in order to get money from one part of the country to another and also to be able to save their funds securely. The mobile banking phenomenon has hit East Africa in a big way and it is expected in this part soon. That would be a major focus of this year’s conference – Mobile Banking or what we call Branchless Banking. So, that has been the major achievement of the conference, providing a forum where new developments that are rapidly evolving can be deliberated.

Nigeria Ripe for e-Payment

Definitely! I think one needs to draw a line between e-payment and mobile payment. The former is facilitated by the Internet. I think the infrastructure is not well developed, in that way a lot of people do not have access to the Internet. For mobile payment, we are going to see huge increases in terms of volumes. Because there is rapid roll out of mobile telephony in the country, one can now leverage on that infrastructure and develop mobile banking.

Potential of Branchless Banking in Nigeria

Well, the potential is limitless. It still boils down to leveraging on the mobile networks, and there is big potential. You can use the mobile networks to transfer from user-to-user; you can also deploy wireless systems with mobile devices to function in the rural areas. At this moment, we have thousands of agents vending mobile scratch cards. Those agents can be trained and upgraded to actually become bank agents and can be in charge of certain transactions. So, the opportunities are boundless.

Role of Telecommunications in Mobile Banking

Telecommunication networks provide the backbone of the mobile banking system. In Kenya for example, on the M-pesa system there are millions of customers making fund transfers through the mobile system. The time has come for the banks to partner with mobile operators to provide these services because they have the proper banking expertise and experience in order to provide customers with the security and professionalism they need using mobile banking; whereas the mobile operators are more experienced in the infrastructure aspect. There is the need for partnership between the two sectors in order to provide effective mobile banking services.

Replicating M-pesa’s Success in Nigeria

Of course it could, but the right regulatory environment needs to be put in place. The Central Bank is grappling with that at the moment. Moneybox has been given mobile banking licence, which indicates some progress. I think we are on the eve of another banking revolution in Nigeria and we will see millions of people making use of their mobile phones for banking transactions.

Microfinance Banks and Mobile Banking

That is an important focus of this year’s conference – it includes the microfinance institutions. The conference, which would be in partnership with CGAP, EFIna and the World Bank, is going to focus on fashioning out ways in which these new technologies and new ideas can be utilized by the microfinance institutions. One of the sessions would be “Linking MFIs, Banks and payment Providers: What are the Obstacles in Nigeria?” So, we are going to look at what the problems are and what are the solutions. That would be a major focus of the conference – to find a way around to actualizing the benefits of these new developments.

Place of the Unbanked in the Branchless Banking Scenario

The unbanked are the target audience. The key untapped market out there needs low cost banking solution to be able to transfer funds from one point to another; a low cost solution to be able to invest their funds effectively, as well as access micro loans to develop their businesses. That is very critical in a branchless banking system that is based on telecoms networks.

Issues at this Year’s Event

They include latest software developments for ATMs. We will be looking at e-channels for microfinance banking, and the major focus will be on security issues. As we speak about mobile banking, security is a major problem. So, we would be looking at solutions in terms of security. We would be addressing ATM software trends for 2009/10, contact centres in banking, matters arising in Islamic banking, among others. In the exhibitions, we have a number of South African countries participating and we would be seeing a lot of cutting-edge technologies.

 


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NIPOST Plans Digital Postcodes for Every Building in Nigeria

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Nigerian Postal Service (NIPOST) has reaffirmed its commitment to implementing a National Digital Postcode System to assign a unique digital address to every addressable building across the country.

NIPOST Plans Digital Postcodes for Every Building in Nigeria

Speaking at the unveiling of the Post Code Delineation Model Validation 2026 in Abuja, Tola Odeyemi, postmaster general and chief executive officer, NIPOST, said the initiative would establish a machine-readable standard location-address framework for buildings nationwide.

“Postcode is basically a framework used to have a machine-readable standard location address for every addressable building in Nigeria,” Odeyemi said.

She explained that the project would place Nigeria among the first countries in Africa to develop a postcode system down to the unit level, ensuring that each standing building is assigned a unique code.

According to her, the digital postcode system is expected to enhance service delivery, logistics operations, emergency response, and national planning by improving the identification of locations across the country.

Odeyemi noted that the diversity of Nigeria’s geography necessitated different approaches to address mapping and postcode allocation.

“Nigeria is a large country. We have all the way from the top of Nigeria, which is almost like the Sahel, to the Savannah, to the Middle Belt, to the tropical South and even to the riverine areas.

“The logic that will work for Jigawa is not the same logic that will work for Bayelsa because they have completely different geographical expressions, density of buildings, population distribution, and topography,” she said.

She said the postcode delineation process was designed to ensure that postcode boundaries align with existing administrative structures and do not overlap local government boundaries.

“Delineation has to make sure the postcode does not pass administrative boundaries, and it must not go across two local government areas,” Odeyemi stated.

The NIPOST boss further explained that the validation exercise involves testing aerially mapped polygons against actual settlement patterns and geographical realities in different parts of the country.

“To test the polygons we have drawn aerially, we must ensure they accurately reflect realities on the ground. For example, the density of buildings in Lagos, particularly in Mushin, is very different from the density of buildings in Abuja. We are making sure that density maps and topographical features are properly captured for each state in Nigeria,” she said.

She described the Post Code Delineation Model Validation exercise as a critical stage in the agency’s broader digital addressing initiative, which seeks to create a comprehensive and standardised postcode framework for the country.

Nigeria has long grappled with an inefficient addressing system, making it difficult to accurately identify locations for postal services, logistics, emergency response, and public planning.

NIPOST’s National Digital Postcode System is part of efforts to create a standardised and technology-driven addressing framework that assigns a unique code to every addressable building in the country.


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The Case for a Holistic AI-Led Approach to Cybersecurity in the Fintech Ecosystem

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As digital financial services continue to grow globally, cyber threats are becoming more advanced, more automated, and more financially damaging. In Nigeria, where digital payments are becoming a part of everyday life, these threats pose significant risks to both consumers and financial institutions.

Industry reports continue to show that account takeover remains one of the dominant fraud issues in Nigeria, accounting for a significant share of 43% banking-related losses reported to Nigeria Inter-Bank Settlement System (NIBSS). Between early 2023 and mid-2025, the financial sector is estimated to have lost hundreds of billions of naira to digital fraud, while 281,500  user accounts have been exposed through breaches and leaks in Q1 alone.

Responding to this kind of threat environment requires more than a single line of defence. It requires a broader security model that combines intelligence, automation, identity verification, and ecosystem collaboration.

PalmPay, leading digital payments platform, has built its cybersecurity framework on a multi-layered security architecture designed to anticipate, detect, and mitigate risks before they escalate. Rather than relying on a single line of defence, PalmPay integrates AI-driven fraud monitoring, continuous risk assessment, behavioural analysis, and multi-layer authentication to strengthen account protection.

One important part of this approach is biometric and facial verification. As account takeover attempts increasingly exploit stolen credentials, identity verification has become one of the most effective tools in combating fraud. By combining facial verification with PIN and OTP authentication, PalmPay introduces multiple layers of protection that help ensure access is tied to the legitimate account owner, significantly reducing the risk of unauthorized access.

Complementing this is PalmPay’s Fraud Case Management System that enhances how potential fraud incidents are detected, analysed, and managed. By centralising fraud intelligence and enabling faster response times, the system helps security teams identify emerging patterns and intervene more proactively.

PalmPay’s Anti-Fraud Manager, Omoruyi Aiyudu, commented: “Fraud prevention today requires a shift from isolated security controls to a connected, intelligence-driven security ecosystem. At PalmPay, we leverage AI-driven fraud detection, behavioural analytics, and multi-layered authentication to identify and mitigate risks in real time. We continue to invest in advanced technologies to strengthen account security and build a safer, more resilient digital financial ecosystem for our users.”

Ecosystem Collaboration

Cybersecurity does not stop at internal controls. Stronger outcomes also depend on collaboration across the wider financial ecosystems.

PalmPay continues to work with regulators, law enforcement agencies and other stakeholders to support stronger cybercrime detection and response capabilities. One example is collaboration with the Nigerian Cybersecurity Unit of the Nigeria Police Force (NPF), including support through the provision of advanced equipment designed to enhance fraud detection and investigation capacity.

The company also recently collaborated with the Nigerian Data Protection Commission on a specialized data protection training to enhance internal data governance practices and advance compliance with the Nigeria Data Protection Act (NDPA) 2023.

These efforts reflect a broader view of security, one that recognizes that customer protection depends not only on technology, but also on governance, institutional cooperation, and responsible data handling.

PalmPay also believes that effective cybersecurity requires active participation from every stakeholder in the digital ecosystem. This is why user awareness remains an important part of its approach. Technology can reduce risk, but informed behaviour remains one of the strongest protections against fraud.

As cyber threats continue to evolve, the future of cybersecurity will depend on organisations adopting intelligent, adaptive, and collaborative security models. AI-led security solutions are no longer optional; they are becoming essential to staying ahead of increasingly sophisticated threats, strengthening customer trust, and the digital economy.


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Galaxy Backbone @ 20, Pledges Nationwide Connectivity, Data Sovereignty

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Galaxy Backbone (GBB) Limited has mapped out strategies to strengthen Nigeria’s digital infrastructure in order to make the country globally competitive in the face of Artificial intelligence, blockchain, cloud computing and other emerging technologies aimed at securing the digital future of the country.

Galaxy Backbone @ 20, Pledges Nationwide Connectivity, Data Sovereignty

Prof Ibrahim Adeyanju, managing director and CEO of GBB, made this known during a press conference to unveil a flurry of activities to celebrate the 20th anniversary of GBB in Abuja on Monday, stressing that Galaxy Backbone has evolved from a connectivity provider into one of Nigeria’s most strategic digital infrastructure institutions.

Galaxy Backbone is a public enterprise of the Federal Government of Nigeria incorporated in 2006 with the primary mandate of setting up and operating a unified Information and Communication Technology (ICT) infrastructure platform that addresses the connectivity, transversal and other technology imperatives for Ministries, Departments and Agencies (MDAs) of the federal government and private entities.

He said in the last 20 years, the agency has invested in world-class data centre infrastructure, including uptime certified Tier III and Tier IV facilities that provide secure, resilient and reliable environments for hosting missions critical to systems and applications.

He noted that these facilities strengthen data sovereignty, ensure business continuity and help keep Nigeria’s most critical digital assets secure.

“Through our cloud infrastructure and the 1Government Cloud platform, government institutions can access scalable digital services without the burden of building costly infrastructure independently. This shared-services model improves efficiency, reduces costs and accelerates innovation.

“We have delivered platforms such as GovMail (the homegrown Official government email), collaboration tools, hosting services, connectivity solutions and shared applications that support thousands of public servants and hundreds of institutions every day,” he said.

He emphasized that the true value of Galaxy Backbone is not measured by kilometres of fibre, data centres or technology alone but by impact.

He explained that the GBB fibre infrastructure today spans almost 30 states of the federation, connecting government institutions and creating the foundation for digital government even as he pledged that the remaining states and local areas will all be captured in due course.

On cyber security, the GBB boss noted that the agency has strengthened cybersecurity capabilities and continues to invest in protecting government systems and critical national digital assets, against cyber-attacks.

“We have the digital infrastructure and we are collaborating with partners to use these emerging technologies. We also have a top tier cyber security operation center and they are multilayered such that even when there is a spike in cyber-attacks none of them have been successful so far.

He added that the GBB is collaborating with other government agencies like the National Security Adviser, The Nigeria Police, and Nigerian Communications Commission (NCC) National Information Technology Development Agency (NITDA) National Identity Management Commission (NIMC) to ensure that government information is protected.

Ibrahim Sani Mohammed, executive director Finance and Corporate Services of the GBB, while fielding questions noted that the agency has created enormous value and has contributed immensely in the digital ecosystem of Nigeria helping to support small and medium enterprises (SMEs).

Olusegun Olulade, executive director Customer Centrality and Marketing of the GBB, said that customers have remained the formidable partners in the GBB journey of 20 years, adding that the agency has developed the mechanism to ensure customer satisfaction as it intensifies efforts to build trust.


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