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Two Startups Win at CFA’s Startups Hangout as speakers pass on valuable nuggets to Startups

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By peter oluka

The last edition of CFA’s Startups Hangout for 2017, was held on Friday, November 24, 2017 at Adna Hotel, GRA, Ikeja. The edition featured a Pitch session two Startups pitching.

Before the Pitch session, however, the invited speakers at the event, John Obaro, MD, SystemSpecs, (Remita) and Jane Egerton-Idehen, Country Manager, Avanti Satellite Communications , gave the attendee Startups some nuggets on what and what not to do, if they want to successfully run their Startup businesses.

First to speak was John Obaro, MD, SystemSpecs, (Remita). John was full of praises for the CFA team for organising the Start-ups Hangout.

He gave a vivid illustration of the power of technology, when he revealed that he had to resort to the use of the Google Map to guide him through the heavy traffic to arrive at the venue of the Hangout event, way ahead of some members of his staff that left the office earlier than he did, but we’re still stuck in traffic.

John, then, gave the Startups 19 nuggets that can assist them to run a successful business and also, to scale.

Some of these nuggets, as analysed here, include the fact that the Start-ups should be ethical in their approach to doing business and also have integrity. He admonished the Startups not to cut corners if they want to play for the long haul.

John also emphasised the need for the Startups to respect their employees, even though, they pay their salaries, as they cannot do the job alone.

He also stressed the need for the Startups to learn to work hard, stating that, being an entrepreneur calls for giving 24 hours attention to the business and they should not see it as an 8:00am to 5:00pm job schedule, if they want to succeed in it.

Another critical nugget that John passed on, is the fact that the Start-ups should get legal advise, all the way through the journey of their business, so as not to run into problems along the way. He also advised the Startups to learn to walk away from business deals that, in the end will make them lose focus of their objectives and goals and then, bring problems to the business, sooner or later.

“Not all jobs are for you, although, they may look attractive”, he stressed. He, however, agreed that this could be a tough call for a budding Startup, who needs to keep body and soul together as well as keep his business afloat, but he advised that they should be smart in choosing.

Startups should pioneer their own solutions, according to John. “It’s nice to copy, but it is better to be a pioneer. Pioneer your own solutions. Learn to carve out something distinct”, he encouraged the Startups.

Jane then, took the stage. She gave a different perspective to the whole scenario, when she stated that she was going to talk about her failure story, so that the Startups could learn what not to do. “Many successful entrepreneurs, always talk about their success stories and say nothing about the business they tried out, but failed in”, she stressed. “I am going to talk about a business I tried my hands on and failed in, so that you can learn what not to-do from it”, she explained.

Jane said that she started a business with some of her friends some years ago, called Moma, a fashionware outfit that pregnant women can patronise to get fitting wears for themselves during pregnancy. The first blunder that she and her partners made, was that none of them knew about fashion design processes.

She stated that, not until she started negotiating with factories in China and in India and she started to hear some fashion designing terms that were strange to her, that she now had to attend a Fashion Design school to keep herself up to date. According to Jane, the first lesson to learn, therefore, is to know the business you want to go into, in and out.

Jane also stated that, when the business was failing and there came a time to make a choice as to whether to source for more funding or wind down the business, she realised that her friends who were her partners were not interested in acting on any of the options and she stated that she just had to walk away from the business, preferring to lose all her investments instead of destroying friendship.

The lessons to learn here, she stated include the fact that, no matter who  you are going into business with, whether they be your friends or whoever, always have a Memorandum of understanding drawn before you commence the business. Do not overlook the legal aspects of your business as this could be crucial in defining a lot of things in future.

Jane ended by saying that, as an entrepreneur, Startups should carve out time for their business and not just leave it solely for their Managers to run.

Out of the three Startups that were shortlisted and invited to participate in the pitch session, only two showed up. The two were Touchabl.com and wokkaholic.com.

Touchabl, according to Gabriel Eze, the Founder/UX Designer, is a platform, where you can instantly search for anything in a picture by touching it. He explained the attributes, traction, income and profit potentials, etc., of the business as well as what the business will be needing to move on to the next level.

Likewise, Victor Tams, Founder/CEO of Wokkaholic.com, explained that the platform is one, where professional skill-based services, such as graphic artists, etc., can be sourced. He also explained the modus operandi of the business, attributes, traction, income and profit potentials, etc.

At the end of the day, it was decided that the two Startups, who incidentally both came all the way from Port Harcourt, be given the opportunity of featuring in an interview with me on Tech Trends on Channels Television.

Ehi Braimah, the chairman of Neo Media & Marketing Limited, graced the November 2017 edition of the CFA’s Startups Hangout with his attendance.

The November 2017 edition of CFA’s Startups Hangout was sponsored by TAMS and Remita.

The organizers thanked the Media partners, Guardian Tech, NigeriaCommunications Week, Connectnigeria, ITPulse, Cyber Africa and Technext.ng for their continued support in publicising the event for the benefit of the numerous Startups.

Watch out for the next edition of CFA’s Startups Hangout @ http://startups.cfatech.ng

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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NRS Takes Over Mineral Royalties Collection Under New Tax Laws

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Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS Takes Over Mineral Royalties Collection Under New Tax Laws

NRS

The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.

Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.

NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.

Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.

The move aims to streamline revenue collection while fostering mining growth.


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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