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CeBIH to Promote Digital Solutions Targeted at BoP

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Stanley Jacob, new chairman of Committee of E-Business Industry Heads [CeBIH], has said that the association will promote digital solutions targeted at the bottom of the pyramid [BoP] in a bid to expedite access to financial services across the country.

Jacob who is also the head of Consumer Distribution at Ecobank Nigeria, said the new executive will pursue three broad agenda namely financial inclusion, digital security and strengthened collaboration amongst industry stakeholders.

CeBIH was setup in 2008 and comprises the upper echelon of electronic business and digital banking practitioners in all banks in Nigeria with its major and most important objective being the promotion of electronic banking services in line with “global best practices”, whilst driving its adoption through right policies, standards, technologies and public awareness programs in Nigeria.

According to Jacob, CeBIH will work with other stakeholders to reduce financial exclusion which currently is over 40 percent in Nigeria as well as bridge the wide digital divide in the country.

“As CeBIH we will actively collaborate with industry to provide the needed financial services at the right pricing to the bottom of the pyramid. We will also ensure adequate capacity building for all stakeholders to equip them in tackling the exclusion challenge.

“CeBlH will pull industry resources and work with the regulators to promote an industry approach for combating cyber-security and payment frauds. Financial literacy campaigns and robust customer education will also be a key tool to achieving this.

“This new executive council will strengthen collaboration by promoting the Shared Agency Network Facility (SANEF) with a view to ensuring that the expected benefits are delivered to consumers; partnerships with other financial institutions (OFIs) and FinTechs to deliver improved financial services; Research and case studies to drive emerging payments”, he said.

Past chairman of CeBIH, Dele Adeyinka implored the new executives to continue with the mission and vision of the group, which is using collaboration with drive financial inclusion and adoption of electronic payment, which are what CeBIH stands for today.

He noted that under his leadership, CeBIH collaborated with various industry stakeholders and this initiative yielded results which became evident through better engagement of CeBIH in issues pertaining to policy formulation in the industry.

Other elected officers are Kayode Olubiyi, Vice-Chairman; Yemi Atanda, Secretary-Industry Shared Services;  Bidemi Asunmo, Secretary – Other Financial Institutions (OFIs) & Fintech  Relations;  Mike Onwu, Secretary-Emerging Payments & Technologies; Celestina Appeal, Secretary- Product Pricing & Revenue Assurance; Mike Ogba, Secretary- Finance & Treasury; Gloria Eruemegbe, Secretary-Publicity & Advocacy; Nmutaka Chikwendu, Internal Auditor and Oluremi Tinuolu, Assistant Secretary – Finance & Treasury.

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Data Centre Dynamics Picks Rack Centre’s Sunday Opadijo as its 2018 Data Centre Manager of the Year

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Data Centre Dynamics (DCD), the global Data Centre Industry media and publishing company with an operation in over 42 different countries has announced Mr Sunday Opadijo, Chief Engineer, Rack Centre, Lagos, Nigeria as the winner of its 2018 Data Centre Manager of the Year.

In choosing the Data Centre Manager of the Year, the august panel of judges looked for exceptional success stories, triumph in an adverse situation, quick thinking, prevention of a catastrophic failure, ingenuity in solving tricky problems and traits of leadership that created a stronger team or a better workplace.

The DCD noted Mr Opadijo, a Data Centre expert with a wide range of experience in the IT and Telecommunication Industries, was a manager “working in the harshest of environmental conditions including high humidity and temperamental power grid but has maintained a 100 percent uptime and dealt with situations that would have sent shivers down most data centre manager’s spines.”

The annual global DCD Awards celebrates industry’s best data centre projects and most talented people and this year’s awardees, DCD says, “like previous ones were selected by an independent panel of data centre experts from hundreds of entries, arriving from across the world-” our expert team of independent judges pored over nearly two hundred entries from across the world, selecting the shortlist across fifteen categories, before the winners are announced”

Mr Opadijo, said it was an honour to be chosen as the Data Centre Manager of the Year by such a prestigious organisation -“ this award validates my dedication and commitment  to maintaining high quality standards  and  helping my organisation to maintain a strategic, competitive edge by providing strong positive leadership and driving excellent performance in the teams, projects, and services, in order to maximize the business value to the organization.”

Dr Ayotunde Coker, MD/CEO of Rack Centre expressed his delight at Sunday Opadijo’s award, noting this as a testament to the great world class talent we can cultivate in West Africa.  We are very proud indeed of Sunday’s achievements and his contribution to Rack Centre’s success.

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Social Lender Pledges Trust, Credit in Driving Financial Inclusion for Unbanked Population

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Faith Adesemowo, co-founder and CEO, Social Lender, has said that the company,  a lending solution platform, is committed to building a community of trust and credit to drive financial inclusion for the un-banked and under-banked.

Adesemowo maintained that Social Lender helps financial institutions to extend formal credit not to only salary earners but also to young professionals, small business owners, market women, entrepreneurs and students to leverage on their social reputation.

She, however, emphasized that the principles of lending is still the same across all platforms, adding that digital lending platforms are only “here to enable traditional lending to run more smoothly, efficiently and bring them to the space they don’t typically operate in”.

According to her, Social Lender does not focus on only on users with internet and smart phones, but also on the community of the individuals.

“Social Lender is not a lender but a platform that enables lenders target demography or segment of the market. We run a co-label and white-label partnerships with lenders and financial institutions,” she said.

She further explained the social reputation algorithm behind Social Lender, saying it is enough to guarantee willingness and ability to pay back loans.

Adesemowo said that the “social reputation score” has proven over the years to be a strong tool to ascertain willingness to repay loans.

“It takes into account the users’ community, engagement, network and several other indicators both online and offline. This is dependent on the data the user gives us permission to.

“The solution collects this data and processes it to give the user a social reputation score. It’s an artificial intelligence-based solution that gives users’ ability and willingness to repay small loans under a particular ticket size.”

She added that the ability to repay larger loans is a slightly different parametre, which technology can only do by reviewing transaction history of the user. The social reputation score focuses on “trust” or you could say “willingness to repay”.

“We have an end-to-end lending platform that can review users’ transaction history with some of our partner banks and partner financial institutions. This feeds into the partner specific business rules for lending specific amounts.  I should emphasize however that social reputation score is the main asset of Social Lender,” she emphasized.

She noted that open APIs and blockchain technology would afford lenders the opportunity to enjoy more services when using any lending platform.

“With Open APIs, more financial institutions will have access to data that was previously sited in silos that will help expand the space. This is happening gradually. We hope for a similar regulation to enforce financial institutions to share more data over time”, she concluded.

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SNEPCo’s Bonga Hits 800m Barrels Mark

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In 13 years of deep-water exploration, the Bonga vessel of the Shell Nigeria Exploration and Production Company (SNEPCo) has produced over 800 million barrels of crude oil, confirming the company as a pacesetter in offshore oil and gas production in the Gulf of Guinea.

 

In its review of the performance of the Bonga Floating Production, Storage, and Offloading (FPSO) vessel for 2018, Bayo Ojulari, SNEPCo’s managing director, expressed satisfaction with the consistent availability and optimal performance of the vessel which began operation at the Bonga field in OML 118 in 2005 under a production sharing contract with the Nigeria National Petroleum Corporation (NNPC).

 

“We are relentless in our pursuit of excellence on all fronts, and this we have consistently demonstrated with the management of Bonga to the satisfaction of our government and co-venture partners,” Ojulari said in Lagos on Monday.

 

“We leverage the Shell group’s global expertise in technology and new advancements in the industry to continue to unlock Bonga’s huge potential, one such example was the completion and inauguration of the Bonga North West Cross Over module in 2014, a first in the history of Shell which launched the beginning of a new phase delivering the reservoirs proven volumes and maintaining production of the FPSO at full capacity,” the SNEPCo MD added.

 

According to Ojulari, SNEPCo, with the support of NNPC and the co-venture partners – Total E & P, Nigerian Agip Oil Company, and ExxonMobil – has also done so much for Nigeria and Nigerians in its years of operations in revenue and taxes accruable to the government, and social investments in education, sports and health across the country.

 

In the last three years, SNEPCo has spent over $3million yearly in scholarships and other intervention in schools across Nigeria including the popular NNPC/SNEPCo Cradle-to-Career scholarships for the six years of secondary school for children from rural areas. The scholarships with over 375 beneficiaries since its commencement in 2014, cover tuition, boarding and maintenance allowances in leading schools in select Nigerian cities.

 

Ojulari said, “Our health and education programmes are aimed at improving healthcare; bridging the educational opportunity gap between urban and rural school populations; providing educational grants; improving ICT education; and supporting displaced persons.”

 

Elohor Aiboni, Bonga Asset Operations Manager, described the FPSO as a jewel noting however that SNEPCo’s achievements did not come without their challenges. “We overcome our challenges with the ingenuity and integrated delivery approach of our staff who work together every day to deliver one of the best assets in the world. “I’m proud to say that over 95 percent of SNEPCo’s staff are Nigerians and they have distinguished themselves as some of the best in the industry within and outside Nigeria.”

 

SNEPCo’s resounding performance, Aiboni said, had been delivered with zero fatality since first oil. “In 2016 the team also won the Shell CEO HSE Award for disciplined and focused safety culture.”

 

In recognition of its pioneering initiatives in Nigeria, SNEPCo was in early 2018 honoured as the best Nigerian oil and gas company in technology and innovation at the maiden edition of the  Nigerian International Petroleum Summit (NIPS) held in Abuja for pioneering in-country Subsea Tree Refurbishment, a remarkable feat in local capacity potential which resulted in significant savings. This was the first time in the Nigerian oil and gas industry that a Subsea Tree was fully stripped down and refurbished locally with all its original functionality restored.

 

The Bonga field increased Nigeria’s oil production by 10% when output began in 2005 and has since stimulated the growth of support industries in addition to helping to create the first generation of Nigerian oil and gas engineers with deep-water experience. The FPSO has potential to produce 225,000 barrels of crude oil and 210 million standard cubic feet of gas per day.

 

The FPSO vessel’s capacity was upgraded in recent years, allowing SNEPCo to expand the field with further drilling of wells in Bonga Phases 2 and 3 and through a subsea tie-back that unlocked the nearby Bonga North West field in August 2014.

 

Bonga North West is capable of producing approximately 65,000 barrels of oil equivalent a day and was named Engineering Project of the Year 2015 at the prestigious Platts Global Energy Awards in New York.

 

 

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