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TSA & the Significance of Software Nigeria

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If the nation is still searching for the alibi of the audacity and professional ability of Software-Nigeria, to effectively deliver world class solutions for the economic advancement, constructive development, National security and global competitiveness of Nigeria, the search stops here – with TSA.

The one-year-old Treasury Single Account (TSA) national project initiative is a digital knowledge infrastructure powered by developed by Systemspec developers and solutions provider of the Remita IT Infrastructure.

Remita is a distinct technology know-how statement and signature of the potentials of Software Nigeria.

After one year of its deployment – in line with global quality standards and best practice, the TSA initiative has now been acknowledged around the world, as a monumental success.  

There are many similar Software Nigeria solutions yet to be discovered.

According to the recent pronouncement by the Accountant General of the Federal – Mallam Idris Ahmed in Abuja, the Treasury Single Account (TSA) has N5.224 trillion as at February 2017 – after its successful deployment in September, 2015. 

Therefore, it is safe within the context of evaluating development methods for national Software, to state that the Remita Solutions is a Super Financial Banking Consolidation Application.

This success clearly validates the long-held and recognized fact, evidence and professional perception of the Institute of Software Practitioners of Nigeria (ISPON), that Software Nigeria Applications comply with major characteristics of global software trustworthiness.

Also, the advent of TSA represents a quality index to measure the capability, functionality and eminence of software Nigeria in general.  Then, what is responsible for the continued myopic crazy for foreign software in Nigeria?

Policy Makers must understand the is acute danger (leading to digital enslavement) in allowing the unregulated deployment of foreign software in key Federal Government institutions, functions and operations domain to foreign applications software. The goal of this write-up is to encourage and promote the establishment of a National Software Development Strategies as a Policy Framework and encourage the mandatory inclusion of the patronage and protection of indigenous software empowered by concrete legislation –IT Bill to enact a National Software adoption Act.

This will serve to improve the level of the nation’s computer knowledge maturity levels, innovation, creative content competitiveness, as well as promote and spread the development, relevance and use of indigenous applications software and services in governance, education, health, business and industry, agriculture, transportation, public administration, law and justice, entertainment and national security.

Recognizing Software Development as a new productive knowledge frontier and potential instrument for economic empowerment and creation of wealth, Government in 2005, decided to launch a nation-wide awareness campaign – based on the technical report submitted to it by the Inter-Ministerial Committee on National Software Development Initiative (NSDI) with Jim Ovia as Chairman.

Currently, our knowledge-base and technology environment of the “new economy” is greatly influenced, undermined and controlled by foreign information system, Application Software and Databases. Software plays a fundamental roll and globally viewed as the backbone and ultimate currency for modern wealth creation, national prosperity and security.

Setting a national software development strategy, policy and awareness agenda therefore, is also against the backdrop that consciously building  and systematically developing huge software capacities presents immense economic opportunities for sustainable nation building.

Suffice to state that Nigeria can earn a minimum of $10billion USD in foreign exchange annually from the local content-centric software industry. 

Indeed, a strategic national software strategic policy and related legislation should ensure that within the next 3 years, a major knowledge and wealth creation movement should happen by compelling all the Banks in Nigeria to migrate to indigenous banking application software.

Before that line of thought is crucified and for the records, Indigenous Banking Application Software in the 90s had an installed base of over 80 Bank branches before the Bank mergers policy by Professor Chukwuma Soludo – former Governor of Central Bank of Nigeria.

This policy, as much as it is commendable, grossly overlooked the local content technology maturity implications. The aftermath is that it virtually killed indigenous software companies who were getting ready to deepen innovation of their solutions.

The resultant effect is that is created a floodgate to the ubiquitous spread of foreign banking application software in Nigeria banking system. To date, there is still no level playing field for indigenous application software to fairly compete in the Banking and Finance Ecosystem.

What indeed is Indigenous Software? Indigenous Software (Software Nigeria) is hereby defined as “All Types and versions of Software developed in Nigeria by a company(ies) and its Intellectual Property Rights (IPRs) owned by Nigerians, in Nigeria, where funds repatriation out of Nigeria is not required” Why Indigenous Software? First, the secret and future of all national development progress lies in the mastery of information systems, where software is the heart and oxygen! However, with a very poor Research, Design and Development (RD&D) platform and un-structured technology incubation and development culture, Nigeria is at best, described as light years away from mastering heavy industries, as experiences in the Industrial Revolution has portrayed – making us currently incapable of manufacturing such common technology products as an automobile, Airplane/ or even a simple motorbike or bicycle!  Above all, importation of foreign software currently costs Nigeria more than $5billion USD (five billion dollars) in foreign exchange, some of which constitute a colossal waste and national security issues.

Today, the range of ICT-related concerns facing policy makers has increased dramatically in recent years: communications infrastructure, procurement for government automation and e-government programs, intellectual property, government-sponsored research programs, incubators and technology parks, engineering education, foreign investment and, of course, the potential for export revenue. Software is a relatively low-investment, environmentally friendly, high-growth global industry – a good target growth industry for many countries.

But it has also become the most critical and expensive element of the government and business systems that every nation must build for itself. As Stanford Professor Edward Feigenbaum put  it while serving as Chief Scientist for the US Air Force, we now live in a “software-first world” (Clark et al., 1998). The increase in global demand that makes software exports a growth industry is driven by the continued consumption of software at home and then by other countries and business enterprises.

What Nigeria Must Do? Good strategic planning about government automation projects and investment incentives to domestic Software Developers can have a positive impact on the growth of a country’s software exports compared to relying on market forces alone. Establishment of massive Software-Knowledge Academies requires urgent attention.

Above all, retooling of the national workforce is imperative. Creation of a National Software Board and establishment of Regional Software Engineering Institutes as well as Software Development Bank are now mandatory.

Furthermore, creating certain types of software exports requires coherent long-term planning and investment strategies to complement and augment market-driven activity. Every country software-development Ecosystem has evolved a unique industry, shaped by its own resources and situation and by the particular local opportunities presented at the time. That indeed was the case of Microsoft.

The current shape and dynamics of the software industry should, therefore, inform ICT strategy, planning and policy, no matter the country’s stage of economic development. With TSA, the Software Case for Nigeria dictates that Nigerians are very capable in engineering and developing global standard software.

The Institute of Software Practitioners of Nigeria (ISPON) has over the years advocated for the need to establish a progressive national strategy and responsive policy for software acquisition, development, application and use, due to its very complex nature.

Systemspec is a dignified member of the Institute of Software Practitioners of Nigeria (ISPON) and deserves a national honour for its technology assiduousness and leadership through Remita.    


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E-Financial

Access Bank Unveils DiamondXtra Season 16, Dangles N200m, 3 SUVs

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The sixteenth season of DiamondXtra, a savings and reward account where customers of Access Bank are rewarded with several prizes, have been unveiled in Lagos.

Access Bank Unveils DiamondXtra Season 16, Dangles N200m, 3 SUVs

 L – R : Doris Okpara, Product Manager, DiamondXtra; Ngozi Igboanugo, Regional sales Manager Festac 1&2 & mainland Access Bank; Bolarinwa Animashaun, Regional Sales Director Lagos 2 Access Bank ; Emeka Ezikeugo, Diamondxtra N200,000 Onsite winner; and Adaeze Ume, Head Consumer liabilities, Access Bank during the launch of Diamondxtra Season 16 held at Alaba International Market Lagos yesterday.

The Season 16th of the special interest yielding hybrid account which allows deposit of both cash and third-party cheques has been upgraded as customers will win prizes to the value of N200 million and three SUVs, amongs other mouthwatering prizes.

Speaking at the unveiling in Alaba International Market, Lagos, Mr Bolarinwa Animashaun, regional sales director, Lagos, said the new season will bring more goodies to the customers as the bank has taken their interest at heart.

“In the last fifteen years, we have been able to ensure customer loyalty, reward committed customers over time and show that we are a bank that is ready to empower people and partner with people.

“If I take it into specific figures, we have rewarded 26,696 customers and we’ve given a total sum of N6.5 billion over the period.

This Season16is interesting, because, we have seen a lot of opportunities to expand into digital opportunities and this time around, we will be rewarding 15,786 customers, and 10,000 of them will be digitally rewarded.

“This is almost half of what we have done over the last 15 years. So that is what is making it special. We have takenit into the possibilities of how technology can expand our business and reward customers”.

The draws for the new season are going to be the same like the previous ones as it will be held in different regions.

“So, we start from the monthly draws, quarterly draws and the annual draws. What makes it extremely interesting this year is that we will be rewarding with up to N200 million in prizes and we have added some very interesting gifts. We will be given out three SUVs as part of the N200 million price for this year”, Animashaun added.

At the unveiling, Access Bank conducted onsite draws where 48 customers who have DiamondXtra accounts and were present at the unveiling won cash prizes ranging from N20,000 to N200,000.

Breakdown shows 40 customers won N20,000 each, five customers won N50,000, two customers won N100,000, while one customer went home with N200,000.

Among winners of the N20,000 prize was Mr Victor Edobor, who said he opened the DiamondXtra accounts 24-hours before the draws.

One of the two winners of the N100,000 prize, Mrs. Maureen Nneka Oforka, said she was surprised to have won at the well-attended event as that was her first time winning any prize.

She said, “I have never won any prize in my life. This is my first. I came here reluctantly and thank God, I am here and I am a winner of N100,000 which has already been paid into my account.

The grand prize winner of N200,000, Mr. Emeka Ezikeugo, a trader in Alaba, said. “I will forever be grateful to Access Bank for the prize as I was not expecting it. I thank the bank for showing leadership among its peers”.

To be part of the winning train and qualify for the DiamondXtra season 16 which is open to both new and existing customers, new customers are required to open a DiamondXtra savings account with just N5,000 by dialling *901*5# or walking into one of our branches to open the account.

However, the more multiples of N5,000 both new and old customers save, the higher their chances of winning at the monthly, quarterly and annual draws.

DiamondXtra is an interest yielding hybrid account which allows deposit of both cash and third party cheques. Hybrid means a combination of both savings and current account features. The DiamondXtra reward scheme has given away over N6.5 billion in cash and household items to over 15,000 loyal customers over the last 15years.  Please click HERE to learn more.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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Lafarge Africa Launches Girls-in-Tech Programme to Empower Women Innovators

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Recognising the underrepresentation of women in the technology sector, Lafarge Africa Plc, has launched the Girls in Tech Program, a pioneering initiative aimed at empowering young women in technology.

Meticulously crafted to bridge the gender gap in tech and empower 10 young females between the ages of 18-25 years from Lafarge Africa Host communities in Cross River State, the program is poised to make a significant impact in the region.

The Girls in Tech Program seeks to harness the unique talents of these young women and introduce them to the dynamic world of technology. By providing them with essential skills and opportunities, the initiative aspires to equip them to become self-reliant as well as problem solvers in society.

In collaboration with Aptech and Arena Multimedia,globally recognized leaders in technology incubation and opportunity, as well as The Bridge Leadership Foundation, the boot camp promises to be a transformative experience for the participating girls, who are eager to make their mark in the tech industry.

Speaking during the onboarding to flag-off in Calabar recently, the Plant Manager, Lafarge Africa Plc, Sotirios Valsamakis, who was represented by the Human Resources Business Partner, Lafarge Africa Plc; Barong Ita, revealed that the program was in line with the company’s commitment to diversity and inclusion.

She also added that the initiative is designed to ignite a spark of inspiration, hope, and possibilities in the heart of the selected girls across the host communities.

“As an organization, people are an integral part of our sustainability drive, and we are invested in building lasting progress by empowering members of our host communities. We also recognize the need for greater and greener diversity and inclusivity within the tech sector.”

Today’s event is not just about launching a program. It is about igniting a spark of inspiration, hope, and possibilities in the hearts of these young women. It is about challenging stereotypes.”

Also speaking at the event, the Cross Rivers State Commissioner for Science, Innovation & Technology, Justin Beshel represented by Edwin Adie, Technical Senior Advisor, Cross Rivers State Ministry of Science & Technology commended Lafarge Africa for the initiative adding that it is in line with the State government’s plan towards science, technology and innovation development.


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Hydrogen, CCHub Partner to Encourage Fintech Startup Success

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As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading Fintech startup, Hydrogen Payment Services Limited (‘Hydrogen’), has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed, ‘Adapting Fintech Business Models to Economic Climes’.

The event, set to take place on Thursday, April 18, 2024, from 12:00 WAT at the CcHub office in Sabo, Lagos, will delve deep into the intricacies of Nigeria’s economic challenges and how these influence the fintech ecosystem.

Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.

This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the Fintech space amidst economic uncertainties.

By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.

Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in Nigeria’s fintech sector.

“By leveraging Hydrogen’s technological expertise alongside CcHUB’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”

The event will feature a distinguished panel of industry experts and thought leaders, including, Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen, and Miracle Ezechi, Digital Marketing Manager, Hydrogen.

The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in Nigeria’s Fintech landscape amidst economic challenges.


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