News
Top Game Changers for IT Organisations, Users From 2014

Gartner its top predictions, recently, for IT organisations and IT users for 2014 and beyond combined several disruptive topics including Digital Industrial Revolution, Digital Business, Smart Machines and the Internet of Things, the analyst strongly believes these are to serve as more game changers beyond just the IT function.
Gartner Symposium/ITxpo is the world’s most important gathering of CIOs and senior IT executives. This event delivers independent and objective content with the authority and weight of the world’s leading IT research and advisory organization, and provides access to the latest solutions from key technology providers.
“Gartner’s 2013 CEO survey suggests CEOs feel that business uncertainties are declining and yet, CIOs awake each day into a world of technology uncertainty and change,” says Daryl Plummer, managing vice president and analyst, Gartner.
“The savvy CIO will get his or her CEO to recognise the change being brought about by disruptive shifts is coming at an accelerated pace and at a global level of impact.”
Presenting their findings during Gartner Symposium/ITxpo, Gartner’s top 10 predictions are broken out into four categories as follows:
Digital Industrial Revolution
IT is no longer just about the IT function. Instead, IT has become the catalyst for the next phase of innovation in personal and competitive business ecosystems.
One place where this is evident is in the beginnings of a Digital Industrial Revolution that threatens to reshape how physical goods are created using 3D printing.
By 2018, 3D printing will result in the loss of at least $100 billion per year in intellectual property globally.
At least one major western manufacturer will claim to have had intellectual property (IP) stolen for a mainstream product by thieves using 3D printers who will likely reside in those same western markets rather than in Asia by 2015.
The plummeting costs of 3D printers, scanners and 3D modeling technology, combined with improving capabilities, makes the technology for IP theft more accessible to would-be criminals. Importantly, 3D printers do not have to produce a finished good in order to enable IP theft.
The ability to make a wax mold from a scanned object, for instance, can enable the thief to produce large quantities of items that exactly replicate the original.
By 2016, 3D printing of tissues and organs (bioprinting) will cause a global debate about regulating the technology or banning it for both human and nonhuman use.
The U.S. Food and Drug Administration or comparable agency in a developed nation that is charged with evaluating all medical proposals will introduce guidelines that prohibit the bioprinting of life-saving 3D printed organs and tissues without its prior approval by end of 2015.
Bioprinting is the medical application of 3D printers to produce living tissue and organs. The day when 3D bioprinted human organs are readily available is drawing closer.
The emergence of 3D bioprinting facilities with the ability to print human organs can leave people wondering what the effect of it will be on society.
Beyond these questions, however, there is the reality of what 3D bioprinting means in helping people who need organs that are otherwise not readily available.
Digital Business
Digital business refers to business created using digital assets and/or capabilities, involving digital products, services and/or customer experiences, and/or conducted through digital channels and communities.
Gartner’s digital business predictions focus on the effect digital business will have on labor reductions, on consumer goods revenue, and on use of personal data.
While these do not cover the sum total of digital business, they do highlight critical areas of medium to long-term impact.
By 2017, more than half of consumer goods manufacturers will receive 75 percent of their consumer innovation and R&D capabilities from crowdsourced solutions.
Consumer goods companies that employ crowdsourced solutions in marketing campaigns or new product development will enjoy a 1 percent revenue boost over noncrowdsourced competitors by 2015.
Engineers, scientists, IT professionals and marketers at consumer goods companies are engaging crowds much more aggressively and with increasing frequency using digital channels to reach a larger and more anonymous pool of intellect and opinion.
Gartner sees a massive shift toward applications of crowdsourcing, enabled by technology, such as: advertising, online communities, scientific problem solving, internal new product ideas, and consumer-created products.
By 2020, the labor reduction effect of digitization will cause social unrest and a quest for new economic models in several mature economies.
A larger scale version of an “Occupy Wall Street”-type movement will begin by the end of 2014, indicating that social unrest will start to foster political debate.
Digitization is reducing labor content of services and products in an unprecedented way, thus fundamentally changing the way remuneration is allocated across labor and capital.
Long term, this makes it impossible for increasingly large groups to participate in the traditional economic system — even at lower prices — leading them to look for alternatives such as a bartering-based (sub)society, urging a return to protectionism or resurrecting initiatives like Occupy Wall Street, but on a much larger scale.
Mature economies will suffer most as they don’t have the population growth to increase autonomous demand nor powerful enough labor unions or political parties to (re-)allocate gains in what continues to be a global economy.
By 2017, 80 percent of consumers will collect, track and barter their personal data for cost savings, convenience and customization.
The number of Kickstarter-based auctions of personal data will increase by triple-digit percentages by the end of 2014.
The escalation of consumer awareness of data collection practices has set the stage for offering consumers more control over the disposition of personal data — collected both online and offline. As increasing demand and scarcity drives up the value of such data, incentives grow to entice consumers to share it voluntarily.
Meanwhile, consumer interest in self-tracking also suggests that consumers are investing more time and energy in collecting data about themselves.
They increasingly view such data as a key asset for life improvement, which is potentially consistent with the idea of trading it for value under the right circumstances.
By 2020, enterprises and governments will fail to protect 75 percent of sensitive data, and declassify and grant broad/public access to it.
By 2015, at least one more Snowden or WikiLeaks moment will occur, indicating an upward trend in corporations and governments’ acceptance that they cannot protect all sensitive information.
The amount of data stored and used by enterprises and governments is growing exponentially, such that any attempt to protect it all is unrealistic. Instead of facing an unfathomable task of protecting all data, enterprises and governments will focus on protecting only a small part of it, but protecting it well. Wider society will also gain from this approach, enabling it to establish better control over government and business, preventing abuses of power and engendering greater trust.
Smart Machines
The emergence of smart machines adds opportunity and fear as “cognizant and cognitive systems” and can enhance processes and decision making, but could also remove the need for humans in the process and decision effort.
CIOs will see this as a means of delivering greater efficiency, but will have to balance between the active human workforce and the cold efficiency of machines that can learn.
By 2024, at least 10 percent of activities potentially injurious to human life will require mandatory use of a nonoverideable “smart system.”
Economically priced cars with “automated assist” technology added as standard equipment will increase by through 2014 as an indicator of adoption.
The increasing deployment of “smart systems” capable of automatically responding to external events is increasing all the time, but there remains a deep-seated resistance to eliminating the option for human intervention.
The capability, reliability and availability of appropriate technology are not the issue. The willingness of the general population to accept initial widespread deployment and increasing removal of manual override options is the issue.
By 2020, a majority of knowledge worker career paths will be disrupted by smart machines in both positive and negative ways.
Virtual personal assistant usage in business grows more quickly in 2017 and 2018 than iPad usage did in 2010 and 2011/
Gartner forecasts that smart machines will upend a majority of knowledge workers’ career paths by 2020.
Smart machines exploit machine learning and deep-learning algorithms. They behave autonomously, adapting to their environment.
They learn from results, create their own rules and seek or request additional data to test hypotheses.
They are able to detect novel situations, often far more quickly and accurately than people. IT professionals need to recognize that smart machines can create substantial competitive advantages, as well as entirely new businesses.
By 2017, 10 percent of computers will be learning rather than processing.
In 2014, the number of speech recognition applications running on deep neural network algorithms will double.
Deep learning methods, based on deep neural networks, are currently being applied in speech recognition systems as well as some object recognition applications.
Quality of life improves when society is able to derive useful information from the copious amounts of unstructured data collecting in the Internet.
The most important implication of a learning computer is that it expands much less energy to recognize more complex patterns.
Internet of Things
The Internet of Things cements the connection between machines, people and business interactions in the modern era.
With the advent of massively connected devices, businesses, governments and people now have access to more information about themselves and their surroundings than they can actually act on.
Gartner’s prediction focuses on the opportunity to build applications and services that can use that information to create new engagement models for customers, employees and partners, and to foster a new set of business and marketing models that make the word “engagement” a truly valuable asset.
By 2020, consumer data collected from wearable devices will drive 5 percent of sales from the Global 1000.
The number of smartphone apps requesting to share consumer data will increase twofold by 2015, indicating a rise in the number of marketers or proprietors who seek access to customer profile data.
Wearable computing, or wearables, is quickly moving into mainstream society, led by the growing, multibillion dollar health and fitness markets.
Within five years, consumer wearables will become more sophisticated, capturing what the user sees, hears or even feels through biorhythmic responses.
The technical hurdles that have stalled the adoption of wearables (battery life, augmented reality, chip evolution and bandwidth) are quickly eroding; opening doors to creative minds determined to exploit this technology for commercial gain as evidenced by sizable investments in wearable technology from Samsung, Google, Apple and Microsoft.
“While some of these disruptive topics might seem as if they do not have a direct impact on the IT function, we must embrace the notion that IT is now a part of everything,” said Mr. Plummer. “As the structure of businesses and industries change, the IT systems that support them will change and so will the skills, processes and controls needed to keep them functioning. The day when 3D-printed computer architecture exists is upon us, and the days when the digital business, smart machines or the Internet of Things change what computers are may not be far off.”
Culled from: www.gartner.com
News
FAAN to Replace Physical ID Check with V-Pass Biometric Verification

Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce a biometric identity verification system, known as V-Pass, to speed up passenger processing and enhance security at domestic airports nationwide.

This initiative is aimed at strengthening aviation security, reducing passenger processing time and eliminating dependence on physical identity documents.
A statement issued yesterday by Henry Agbebire, director of Public Affairs and Consumer Protection, FAAN, said the new facial recognition platform, developed in partnership with Verxid Technologies Limited, would enable passengers to verify their identities through biometric authentication, allowing them seamless access through airport security checkpoints and boarding gates.
According to him, the initiative formed the focus of a strategic meeting between FAAN and Verxid Technologies Limited, where both organisations reviewed deployment plans, security safeguards and measures to improve passenger experience.
The statement hinted that the authority centred on ensuring the successful rollout of the digital platform while maintaining high security standards.
The statement quoted, Adebola Agunbiade, director of Commercial and Business Development, FAAN, as describing the V-Pass as another milestone in the authority’s ongoing digital transformation programme.
According to her, the platform indicated FAAN’s commitment to deploying innovative technology that enhances passenger facilitation while reinforcing aviation security across domestic airports.
She assured that the system would provide every traveller with a secure digital identity through a one-time enrolment process.
Under the arrangement, Nigerian passengers would register using their National Identification Number (NIN) alongside facial biometric capture, while foreign travellers would enroll with their passports through Optical Character Recognition (OCR) supported by biometric authentication, the statement added.
FAAN said the system would verify passenger identities before they gain access to restricted airport areas and once again before boarding their flights.
The agency noted that the dual-verification process was designed to prevent identity fraud, impersonation and unauthorised access to airport facilities, while giving security agencies greater confidence in passenger authentication.
Passengers would be able to complete the verification process either through self-service kiosks or with assistance from trained FAAN personnel.
The deployment would also include electronic gates to automate access into controlled areas, reduce queues and improve passenger movement across airport terminals.
According to the developers, first-time registration is expected to take about one minute, while subsequent biometric verification would take less than 30 seconds.
Apart from passenger processing, the V-Pass platform would also provide airlines with secure digital access to flight schedules, passenger manifests and boarding statistics.
FAAN assured travellers that data protection remained a critical component of the project, stressing that the platform fully complies with the Nigeria Data Protection Regulation (NDPR).
News
CBN Introduces Digital Tracker to Monitor BDC Forex Transactions

The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country.

Under the new arrangement, all licensed BDCs must report their foreign exchange purchases through a platform called the FX BDC Purchase Tracker (FXBT). The portal will allow the CBN to monitor transactions in real time or on the same day they take place.
The directive was announced in a circular dated July 15, 2026, and signed by the Director of the CBN’s Trade and Exchange Department, Aderinola Shonekan.
According to the apex bank, the new framework is designed to support its February 2026 policy that allows licensed BDCs to buy foreign exchange directly from authorised dealer banks in the Nigerian Foreign Exchange Market (NFEM).
The CBN said the initiative will improve transparency, strengthen compliance, increase liquidity in the retail forex market, and ensure proper participation by market operators.
A major feature of the framework is the FXBT portal, which will serve as a central database for tracking all foreign exchange purchases made by BDCs from banks.
Under the guidelines, every licensed BDC must register on the platform and submit transaction details either in real time or on the same day the transactions occur.
The CBN stated that the system will help regulators identify violations, detect suspicious transactions, monitor compliance with market rules, and improve confidence in the foreign exchange market.
The framework builds on the CBN’s February 2026 decision to allow licensed BDCs back into the official foreign exchange market. Under that policy, each eligible BDC can purchase up to $150,000 weekly from authorised dealer banks at market rates.
The apex bank said only BDCs with valid licences will be allowed to access foreign exchange through the framework. Operators whose licences have been suspended or restricted due to regulatory issues will not be eligible until those restrictions are lifted.
The CBN also directed banks to carry out thorough Know Your Customer (KYC) and customer due diligence checks before onboarding any BDC. Required documents include valid operating licences, Tax Identification Numbers (TIN), Corporate Affairs Commission (CAC) registration documents, and information on beneficial ownership.
Banks have also been warned not to sell foreign exchange to BDCs that fail to meet the required compliance standards.
To encourage fair competition, the CBN said BDCs can buy foreign exchange from any authorized dealer bank of their choice. Banks are prohibited from forcing BDCs into exclusive arrangements or charging referral fees that limit their ability to transact with other banks.
Under the new process, BDCs must submit electronic requests for foreign exchange through a bank’s designated portal. Banks are required to acknowledge requests within two business hours and communicate approvals or rejections immediately after processing.
Requests can only be rejected for valid reasons, such as incomplete documentation, exceeding weekly purchase limits, unresolved compliance concerns, or internal risk management issues.
The CBN also introduced stricter rules on how purchased foreign exchange can be used. All transactions between banks and BDCs, as well as between BDCs and customers, must be conducted through accounts held with licensed financial institutions. Third-party transactions remain prohibited.
In addition, BDCs are not allowed to keep unused foreign exchange purchased through the official market. Any unused funds must be sold back into the market within 24 hours after the permitted usage period expires.
The apex bank warned that failure to comply could lead to forfeiture of funds and suspension from the market.
BDC operators must also disclose any unused balances from previous allocations when applying for new purchases, while banks are expected to consider those balances when calculating weekly allocations.
Beyond reporting through the FXBT portal, BDCs must continue submitting weekly reports to the CBN. These reports must include details of foreign exchange purchased from banks, sales to end users, unused balances, and settlement records.
The CBN said the reporting requirements will improve transparency and help regulators better monitor foreign exchange flows in the retail market.
The bank warned that violations of the framework could attract penalties under the Banks and Other Financial Institutions Act (BOFIA) 2020 and the Foreign Exchange Act. Sanctions may include fines, suspension from the foreign exchange market, withdrawal of BDC licences, revocation of banks’ authorised dealer status, and referrals to law enforcement agencies where necessary.
The CBN’s Trade and Exchange Department will oversee compliance through regular and surprise inspections carried out in collaboration with other departments.
The apex bank said the new directive is part of its wider efforts to reform the foreign exchange market, improve transparency, boost liquidity, and restore confidence in the system.
Concerns over compliance breaches, speculative trading, and abuse of foreign exchange allocations had continued even after BDCs were reintroduced into the official market earlier this year.
News
CAC Begins Removing 100,000 Companies from Register Over Regulatory Non-Compliance

The Corporate Affairs Commission (CAC) has announced the commencement of another exercise to remove 100,000 companies from Nigeria’s register of companies for failing to comply with statutory requirements under the Companies and Allied Matters Act (CAMA), 2020.

In a public notice issued on Thursday, and dated July 15, 2026, the commission said the exercise was being carried out pursuant to Sections 692(3) and 692(4) of the Companies and Allied Matters Act, 2020.
The notice stated: “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.”
According to the commission, the affected companies are listed on its official website.
“The list of the affected One Hundred Thousand (100,000) companies can be accessed at the Commission’s Website,” the notice said.
The CAC directed all affected companies to update their records by filing outstanding annual returns and beneficial ownership information within 90 days.
“The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularize their records within ninety (90) days of this notice,” the commission said.
It added that companies must send proof of compliance to the designated email address, [email protected], within the stipulated period.
The commission warned that failure to comply would result in the affected companies being removed from the register without any further notice.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice,” the notice stated.
The CAC reiterated its commitment to improving service delivery, saying, “The Commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”
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