General News
We Don’t Need Foreign Software to Drive IM – Fambegbe

Folarin Fambegbe, director, Golden Scepter, a company dedicated to become a one-stop shop in records and archives management, is a civil engineer turned banker.
He worked in the defunct City Bank for 17 years.
Fambegbe believes that ICT is a critical force that can help meet the records management demand anchored on providing market-leading levels of trust, security and reliability. He spoke to peter ugwu.
Overview
Golden Scepter is a product of vision. In the course of my working in the bank, records management formed part of my duties.
I discovered that most of the banks in the country do not have good records keeping system; therefore retrieval of documents poses great challenge.
There are cases where directors were been chased by the economic and financial crimes commission (EFCC), not because they do not have the documents, but they could not present documents required during one investigation or the other hence the main problem is that the processes of management of those documents were haphazard in nature.
So, you see managing directors of banks and insurance companies running out of the country. Meanwhile, I and my partner saw that is a problem that must be addressed. So, the starting point for Golden Scepter was when we left the bank in 2003; they later invited us to come and help them out in organizing their archives management system.
However, after the bank capitalization we discovered that other banks have similar problems too. We thought it wise to set up a platform that will serve as a model in organizing institutions’ records management system.
Consequently, other banks expressed interest in us ensuring that their records keeping systems are in other.
GS Phenomenal Growth
The point is that there is a vision and there is a need. Institutions are really concerned on how to keep adequate records management system.
And we as service providers leveraged on that to come into the system.
Even when heads of different companies meet they discuss this among themselves and some of them would always want to maintain proper records keeping knowing the importance.
Today, we have helped a number of banks maintain their records department, bringing them to contemporary practices.
Industry’s Viability
Yes, the industry is viable, but Nigerians orientation towards records management is very low. Some companies would ask you the immediate gains they will generate from such project that is maintaining an updated archive.
The truth remains that when you have adequate document, it will be difficult for anybody to lay false claims, defraud you or take things for granted.
We should ask ourselves what constitutes the bottom-line: when you have increased revenue or decreased expenses then you have bigger profit.
Now, when you have even bigger profit with leakages through outrageous payments due to the fact that you cannot substantiate certain claims or through the injunctions of the law courts following your inability to present certain document(s), the somewhat a big revenue will start to depreciate. What you need to do is to block such leakages.
And it will ensure efficiency in service delivery. Helps in achieving company’s goals, and customer services are better met when you have every bite of information available for use.
How about job creation?
Today we have over 30 staff. So, this is an industry waiting to be explored. With more companies coming on board, definitely we should be expecting that records management industry will add value to the Nigeria’s Economy.
This is just an aspect of the industry, when you talk of document control; it is a very large setting traversing areas like construction, oil and gas, government institutions, etc. is such large because we are referring to documents that are still in use; where you have different strokes of projects going on almost at the same time and in the chain all the parties have to be involved.
Lack of Professionals
The first step is awareness creation. That is why a non-governmental body – Records and Information Management Awareness Foundation (Rima) is doing a great job.
But on our part we train people. We have trained personnel of 44 companies including schools, all within our four years of existence.
Interestingly, the more people are becoming aware of the profession, more companies are willing to absorb, all points to the fact that Nigeria is not an Ireland on its own.
We must embrace the opportunities exiting in this area by encouraging our young ones to embrace the discipline.
The Place of Records Management in Data Security
We highlight the importance of security that is why when we help companies in setting up their archives we advise them to train their staff alongside.
In setting up an archive is not just about the papers, you have to consider the security control measures.
More so, we advise institutions to have documents management policies.
The essence is to stipulate who handles what. There have been cases where companies lose valuable documents due to porous means by which its document bank is handled.
Fight against Corruption
Corruptions are not done from heaven. They are done with documents. So, document control or records management is quite apt in checkmating corruption because if you can trace the document, it serves a large purpose in tracing perpetrators of certain acts.
And in court system, they don’t deal with stories; rather the substantive facts and figures give you an edge over your opponents as the case may be. So, one way to fight corruption is my ensuring that records are kept, well controlled and it can be retrieved when needed; anything short of that is a mirage.
In other words, it will help see justice is neither delayed nor denied.
Government’s Support to the Industry
In the developed countries, the industrial standards are set by the government, thus other have to follow suit.
Apart from that, government needs to intervene by upgrading existing infrastructure in her centers like the National Archives of Nigeria (Nan) just like the Lagos State Government is doing by creating the Records and Archives Bureau.
When the infrastructures are in place, they will motivate our people to study this discipline. At a time we thought of collaborating with different state governments, but we discovered that most of them are not ready to embrace the change and we are also not interesting in becoming part of the corrupt systems; even the government that decry unavailability of employment opportunities for the teeming youths. Why can’t they leverage on this platform to do so?
Now that we are looking at revisiting the 1999 constitution, there is a need to repeal the National Archives Act, for instance, to reflect contemporary practice; come up with something that can assist economy of the country.
Pending that, because government things are very slow, institutions can set up their framework or policies. Once that is done, it will be easier to register Nigeria’s presence in the comity of proper records keeping nations.
Is ICT’s a threat to Archives Management?
No! When people say that the evolution of information communications technology spells doom for the archives management, I would say, we are limiting the scope of the profession.
Although it is not just about filing physical papers or documents, then the electronic documents show that ICT is a complement and can never.
Currently, we are going beyond physical archiving system; therefore, users can seat anywhere and have access to certain document, because information transmission nowadays runs on a speed of light.
If you want to be relevant then have the relevant document that can be accessed 24 hours. ICT has made Archiving become cheaper.
Hence the software is there, there is nothing to fear about, because security can be assured as well.
However, in Golden Scepter we hold the view that records digitization is not a direct substitute to a well organized physical archive.
Remember everybody needs information as contained in a document to operate, but not everybody is connected to the ICT yet, which makes the relevance of physical archives paramount in our day to day activities.
People make a mistake by thinking that electronic records management means there is no paper. What ICT does is to reduce the paper, thereby helping the eco-system.
Today, in Nigeria, what does the court accept as written evidence if not physical documents, like bank statements which is different from original documents that is scanned.
Protection of Physical Archives
When you are talking about physical archives management, there are a lot of things that must be in place for security purpose.
Fire extinguishers are very important. Perhaps, you are not going to sleep in the archives; how do you secure the place from fire? So, there is need to install self-triggered apparatus that will ‘fight’ the fire even with no body present.
The sensitivity of archives demands that you fix CCTVs as well, to monitor movements, which is still IT complementary role.
These are part of the key safety measure that will complete efforts of skilled manpower to ensure the place works optimally.
We have a mechanism to dry wet or flooded documents. For instance, after the July 10, 2011 flood disaster in Lagos, many government and private companies’ documents were drenched. Those who contacted us have better stories to tell.
Professionalism
When we talk of International Standard Organisation (ISO) set standards it depends on the organization that engages in the practice.
Meanwhile, some companies parading themselves as ISO certified are not real. They are certified on papers, but in practice they are below every reasonable standard.
It is in every profession, people cutting corners.
Is not about the certification, but what is behind. Having said that, it is important to embrace the stands; by doing that companies can save cost and protect sensitive projects during executions.
Career
I support the school of thought that our educational curriculum should be revisited to include records and information management.
I have come to understand that not all who studied Library Science can easily practice this. There is still a divide.
You find out that people don’t actually have confidence in their discipline. In developed countries like in US and UK, people are making input to the economy and academic through courses like this.
We can follow suit. Recently, a particular university invited us to come and address that problem for them to cue-in to the modern practice.
Software
Ostensibly, there is no need we looking outward to purchase software for our applications, because what we are looking for are here in Nigeria.
We are now part of the global village.
Meanwhile, when you go to other place, South Africa, United Kingdom, etc, there is a way they keep their records, we should have our template.
Therefore, we can’t fuse their model into our system. So, we are trying to build our standard here, bring it up to meet international standards.
General News
Akara Business Can Pay More than Bank Jobs – Governor Aide

Ossai Ovie Success, special assistant on Media to the Governor of Delta State, has defended First Lady Senator Oluremi Tinubu over the backlash trailing her recent advice encouraging Nigerians to embrace small-scale businesses.

Ossai Ovie Success, special assistant on Media to the Governor of Delta State
The controversy followed a viral video in which the First Lady urged unemployed Nigerians, particularly women, to consider starting businesses such as frying akara, roasting corn and producing kuli-kuli, noting that such ventures require little start-up capital.
Her remarks sparked widespread criticism on social media, with many Nigerians arguing that government officials should focus on creating jobs rather than encouraging citizens to take up petty trading.
Reacting to the criticism in a post shared on his official Facebook page on Sunday, Ossai said he was surprised that many people looked down on the akara business, insisting it can generate more income than some white-collar jobs.
According to him, an akara seller operating in a strategic location can earn substantial profits with just a few hours of work daily.
“Akara business is better than a bank job sometimes. If you fry akara in a good location, after all costs, you make N20 per akara and sell 500 pieces every day,” he wrote.
Ossai estimated that such a business could generate about N10,000 daily, translating to approximately N60,000 weekly and N240,000 monthly, while noting that some operators earn well above N1 million every month.
“How much again is a bank job? Ask yourself,” he said.
The Delta governor’s aide also argued that the business is not as demanding as many people assume, saying it typically requires only a few hours of work each day.
“Before I forget, know that akara business is not a 6-to-6 job. It’s about three hours daily.
“I am disappointed in those looking down on akara business,” he added.
The remarks add to the growing debate sparked by the First Lady’s comments, with supporters describing entrepreneurship as a practical means of livelihood, while critics argue that the government should prioritise policies that create sustainable employment opportunities for Nigerians.
General News
EVC NCC, Aminu Maida, to Lead Speakers @ Business Journal Fintech & Financial Inclusion Roundtable 2026

Dr. Aminu Maida, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC) would be the Special Guest of Honour at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 scheduled for Friday, July 31, 2026 at Oriental Hotel, Lekki Road, Victoria Island, Lagos.

The theme of the Roundtable is: Fintech: Driving the Future of Digital Financial Ecosystem in Nigeria.
Dr. Aminu Maida was appointed the Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC) by President Bola Tinubu on Wednesday, October 11, 2023.
Maida holds an MEng in Information Systems Engineering from Imperial College, London in 2002 and in 2006, he bagged a PhD in Electrical & Electronic Engineering from the University of Bath, United Kingdom.
Between 2018 and 2019, Maida completed a Post Graduate Diploma in Entrepreneurship (FinTech Pathway) program at the Cambridge Judge Business School, University of Cambridge, United Kingdom.
Until his appointment by the President, Dr. Maida was the Executive Director, Technology and operations at Nigeria Inter-Bank Settlement System Plc (NIBSS), the country’s central switch company owned by the Central Bank of Nigeria (CBN) and all licensed Deposit Money Banks (DMBs) in Nigeria.
At NIBSS, Maida was responsible for holistically spearheading the technical and operational standardisation of all devices deployed in the financial system in Nigeria for interoperability.
Maida led a dynamic team that ensured that all terminals used in the e-payment industry and all devices deployed in Nigeria would accept all cards issued by banks and other licensed card schemes without discrimination.
Prior to his appointment at NIBSS, Maida was the Chief Technical Officer (CTO) at the Nigerian-based FinTech Arca Payments Network and Senior Manager at Cisco Systems, United Kingdom.
As a seasoned technical professional with over 15 years of multi-functional and international experience in FinTech & Telecoms & Enterprise Technology, Maida between 2010 and 2014, worked as a Network Design Consultant at EE, part of BT Group, and one of the largest mobile communications companies in the UK.
He was also at some point (2006-2010) a System Engineer at Ubiquisys, a leading company in intelligent 3G and LTE small cells, which is now part of Cisco.
Maida, a professional par excellence, combines a broad range of experiences, making him technically strong and commercially sound.
Reacting, the Publisher/Editor-in-Chief of Business Journal Media Group, Prince Cookey said:
“Dr. Aminu Maida came to the NCC at a time Nigeria needed strategic repositioning of the digital economy landscape and telecom regulation in the country. He has positioned NCC as a leading voice in the digital space and telecom regulation in Africa and around the world.
Accordingly, stakeholders attending the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 would be looking forward to a robust conversation on the State of the digital economy, fintech market and the numbers on financial inclusion today and tomorrow.”
Cookey added that Mr. Olusegun Omosehin, Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) will also be on board as Special Guest of Honour while Alhaji (Dr.) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) will Chair the event.
Mr. Emmanuel Ovaga, Managing Director/CEO, PufferPay Limited will deliver the keynote paper at the Roundtable while Mrs. Ekeoma Ezeibe, President/Chairman of Council of NCRIB is Guest of Honour.
Distinguished members of the Panel include:
- Dr. Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise (CPPE)
- Mrs. Idu Okeahialam, Group Managing Director/CEO, Royal Exchange Plc
- Mr. Jide Orimolade, Managing Director/CEO, Stanbic IBTC Insurance Limited
- Dr. Obioha Oti, President, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN)
- Mr. Sarafadeen Fasasi, President, Association of Financial Inclusion Agents of Nigeria (AFIAN)
The revolutionary success story of Moniepoint, Opay, PalmPay, Flutterwave and others in the digital payment system in Nigeria represents a positive expansion of the financial services sector in the country.
With millions of Nigerians and businesses lacking access to basic financial services, the importance of Fintechs remain sacrosanct in achieving substantial level of Financial Inclusion and expanding the frontiers of the industry.
According to AI Overview, Fintechs in Nigeria have revolutionised the financial landscape by dramatically increasing access to banking services, driving, for example, a 20% increase in financial inclusion and helping to bring the banked population to roughly 63%. These firms have introduced faster, affordable digital payments, lending, and investment services, forcing traditional banks to adopt digital transformation.
On investment, AI Overview stated: “Fintechs in Nigeria dominate the tech landscape, securing 35% of total tech funding ($2 billion total) in 2024, with over 430 companies attracting roughly 36% of all African fintech investment. Despite global challenges, the sector remains highly resilient, driven by high demand, with significant deals including Moniepoint’s $110 million series C.”
The 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 aims to underscore the positive contribution of Fintechs in deepening Financial Inclusion, expanding access to financial services and contributing to economic growth in the country.
Expected participants at the Roundtable include regulators, operators from key sectors of the economy, media and members of the public.
General News
LASTMA Launches 3367 Toll-Free Hotline for Emergency Response, Traffic Management

(LASTMA) has launched a new toll-free short-code hotline, 3367, to improve emergency response, enhance traffic managemestrengthen accountability across Lagos State.

The new platform replaces the agency’s previous long-service code and provides a simpler and more accessible channel for residents to report traffic-related incidents. The service is available at no cost to subscribers on MTN, Glo and Etisalat (T2) networks.
Motorists and other road users can use the hotline to report vehicle breakdowns, road crashes, disabled trucks, stranded tankers, traffic obstructions and other emergencies requiring immediate intervention.
The platform also allows members of the public to report the conduct and professionalism of LASTMA personnel, a move aimed at promoting transparency and accountability within the agency.
To ensure wider accessibility, callers can communicate with hotline operators in English, Yoruba or Pidgin English, helping to eliminate language barriers and encourage greater public participation.
Speaking on the initiative, Mr. Olalekan Bakare-Oki, general manager, LASTMA, described the launch as a major milestone in the agency’s efforts to build a safer, more efficient and technology-driven traffic management system.
He said the hotline reflects LASTMA’s commitment to leveraging digital solutions to tackle transportation challenges while strengthening collaboration with residents.
According to Bakare-Oki, the 3367 hotline provides Lagos residents with a direct, convenient and free channel to report incidents requiring urgent attention, noting that the growing complexity of Lagos as a major African megacity demands a proactive and technology-enabled approach to traffic management.
He assured residents that all reports received through the platform would be handled professionally and confidentially before being forwarded to the appropriate operational units for prompt action
Bakare-Oki urged the public to make effective use of the hotline to support road safety, improve accountability and contribute to a more efficient and sustainable transportation system across the state.
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