Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

General News

Technology Disrupting Global, Local Travel Industry

Published

on

Kindly share this post

By Gbemisola Aruwayo-Obe

 

Nigerians from all walks of life love to travel. Like folks elsewhere, they feel deeply emotional about travelling. Although they may chit-chat about banking, shopping and similar experiences, discussions about their favorite airlines, miles, discounts, upgrades and boarding privileges also strike a deep cord with them. Regardless of social status, we all seem to be united by two things: our aspirational lifestyle and our individual and collective urge for excellent service delivery. Embracing digital innovation (technology) would help fast track the attainment of these social and economic realities.

 

While travelers around the world may differ in their hospitality tastes and preferences, the Internet has helped to flatten the world. Commercialization of the Internet has also introduced digital innovation into the travel and tourism industries, bringing with it a raft of new products, services and experiences. The digital influence is daily transforming the entire value chain of the hospitality sector, and this digital disruption is being embraced by travelers and operators alike. Take online checking in and self-service terminals at airports, for instance.

 

What about software which allows travelers to select destinations, flights and airlines, hotels, car hire companies and concierge services from the comfort of their laptops or hand-held devices? 20 years, you would have needed to visit or place a phone call to an airline or travel agent to access these sorts of services.

 

In hospitality establishments across the country and even around Africa, innovative technology is gradually bringing disruption to business models and customer expectations. Digital innovation is creating new challenges and opportunities for the travel industry. As with other industries, travel services customers have grown accustomed to individualized arrangements.

 

Whilst service quality levels may not be optimal in the fast-developing economies of the world, travelers in these regions are also not shy of demanding more comprehensive and consistent experiences and are becoming less tolerant of both inconsistency and imposition. Travel customers now expect streamlined processes, convenient self-service options and one-of-a-kind experiences. They are willing to quickly shift buying behaviors and preferences if they do not get what they are seeking.

 

This is the way it should be. However, this is not always how things have been over the last 20 years or so for members of the public who need to patronize airlines, hotels, transportation providers and other service providers in the business or leisure travel value chain. While hospitality industry analysts have called for increased public sector investments in the sector and in some cases, sectoral reforms which will galvanize domestic and foreign direct investments, there is also the need to realize that the entire hospitality landscape is undergoing disruption, as new entrants continue to leapfrog established travel businesses by applying digital technologies in innovative ways, whether it’s businesses that rent private homes to strangers or provide one-way car services.

 

Executives in the industry recognize the ongoing disruption and the impact of digital innovation on their industry. In 2016, an IBM Institute for Business Value’s Global Ecosystem Survey, conducted in collaboration with the Economist Intelligence Unit, consulted the opinions of more than 2,000 cross-industry leaders. Study findings include:

 

63 percent of the surveyed travel industry executives report that traditional value chains are being replaced with new value models.

Half of the surveyed travel industry executives indicate that boundaries between their industry and others are blurring.

57 percent of surveyed travel industry executives say that competition from new and unexpected sources is beginning to impact their businesses.

 

According to another report from the IBM Institute for Business Value, the global travel industry can sustain its momentum by meeting and hopefully, exceeding travelers’ personal expectations by embracing the philosophy of a Digital Reinvention.™ There is a three-step process, which includes:

 

1) Digitization improves efficiency by applying technology to individual resources or processes. Within the context of travel, digitization involves setting up digital systems that support processes such as online ticketing, but has evolved into online services where customers book directly with providers rather than through traditional travel agents.

 

2) Digital transformation involves the integration of digital functions or processes across an organization. By combining a set of systems and processes, digitally transformed travel businesses can offer their customers individualized experiences. An example of increasing importance is the ability of travel providers to combine data collected through travel booking sites, as well as customers’ personal social media channels, to deliver highly customized vacations.

 

3) Digital Reinvention of travel goes even further. Digitally reinvented travel involves a fundamental re-imagining of the way an organization operates and engages with customers and other stakeholders. Digital Reinvention at its most fundamental puts the customer first in all of the organization’s dealings to deliver travel experiences that are personalized for individual customers.

 

Digital Reinvention combines multiple digital technologies, including cloud, blockchain, mobile and the Internet of Things (IoT), to transform customer and partner relationships and to create new business ecosystems. Often, the most successful digitally reinvented businesses establish a platform of engagement for their customers and partners.

 

These are the steps, the benchmarks if you like, that many Africa-based travel industry operators need to adopt to take their game to the next level. Digital disruption is a reality of the global travel industry. The earlier and faster we embrace digital disruption locally, the more efficient our travel and hospitality systems will be.


Kindly share this post

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

Continue Reading
Advertisement
Comments

General News

Senate Orders Full Probe into N1.3 Trillion CBEX Ponzi Scandal

Published

on

Kindly share this post

The Senate Wednesday launched a full-scale investigation into the operations of Ponzi schemes in the country. The development followed the catastrophic collapse of the Crypto Bullion Exchange (CBEX), a digital investment platform that allegedly defrauded Nigerians of over N1.3 trillion ($847 million), making it one of the most devastating financial scams in the nation’s history.

The motion, sponsored by Senators Mukhail Adetokunbo Abiru (Lagos East) and Osita Izunaso (Imo West), received overwhelming support from lawmakers during the debate at plenary.

The federal lawmakers unanimously described the proliferation of such schemes as a direct threat to national security, economic stability and public trust in government institutions.

Rising in support of the motion, senators from across the country decried the systemic regulatory failure that allowed CBEX and similar fraudulent platforms to operate unchecked.

They lamented that the fraudulent operators leveraged on technology, social media influence, fake testimonials, and referral commissions to lure millions into financial ruin.

Presenting the lead debate, Senator Abiru detailed how CBEX capitalized on weak oversight by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC) to dupe unsuspecting investors.

He warned that beyond financial losses, such platforms are fueling depression, suicides and the erosion of public confidence in legitimate financial institutions.

“Over N1.3 trillion was lost to CBEX alone. This is not an isolated incident. It is a continuation of a troubling pattern, from MMM in 2016 to MBA Forex in 2020. Nigerians are being robbed, again and again,” Abiru said.

Senator Tahir Monguno (Borno North) called the situation “alarming” and stressed that existing laws must not only be amended but “strengthened” to prevent further exploitation.

He said: “These operators prey on vulnerable and gullible citizens. Some victims have died by suicide. It is time we acted decisively.”

Senator Sadiq Suleiman Umar (Kwara North) emphasized the trust Nigerians place in their government and urged agencies to live up to their mandate.

“People trust that the government will protect them. We must ensure that SEC, CBN, EFCC and others never allow such lapses again,” Umar said.

Senator Solomon Adeola (Ogun West) lamented the regulatory gap in Nigeria’s rapidly evolving fintech space. He warned that many digital platforms operate under the radar.

He said: “It’s not just Ponzi schemes. There are several other unregulated online payment platforms riding on fintech buzzwords. CBN must tell us what rules are in place.”

Senators Abdul Ningi (Bauchi Central) and others urged the National Assembly to utilize its constitutional powers under Sections 88 and 14 of the 1999 Constitution (as amended) to hold regulatory agencies accountable.

“These laws exist, but for too long we’ve failed to enforce them. The people are suffering,” Ningi declared.

Senate President Godswill Akpabio recounted a personal experience from the early 1990s involving a now-defunct Ponzi scheme in Port Harcourt, drawing parallels with today’s CBEX.

Akpabio said: “That scheme collapsed. People lost everything. History is repeating itself, only now on a bigger scale—N1.3 trillion gone. Students, civil servants, even pensioners were affected. This is an emergency.”

He backed calls for nationwide public sensitization and zonal public hearings.

According to the Senate President, “We must educate our people. Many of these victims are not literate in financial matters. If it doesn’t concern you directly, it will affect someone close to you.”

In its resolution, the Senate mandated a joint investigation by its Committees on Capital Market; Banking, Insurance and Other Financial Institutions; Anti-Corruption and Financial Crimes; and ICT & Cybersecurity.

The committees, to be led by that of Banking and Finance, are expected to conduct a comprehensive investigative hearing, including public sessions, and submit their report within four weeks.

The inquiry, according to Akpabio, will focus not only on CBEX but also on the broader Ponzi ecosystem, regulatory lapses and proposals for legislative and administrative reforms.

The Senate also called for immediate steps to educate the public, especially the youth and rural populations on the dangers of fraudulent investment schemes.

As the motion passed unopposed, Senator Akpabio declared: “We cannot sit back while Nigerians are being robbed blind. “We must act to prevent more suicides, restore trust, and reclaim our economy from digital predators.”

 


Kindly share this post
Continue Reading

General News

UpSkill Universe Launches ‘Skills for Business’ to Empower 10,000 African SMEs, in Collaboration with HP and Google

Published

on

Kindly share this post

UpSkill Universe has announced the launch of the Skills for Business programme, a new initiative to help 10,000 small and medium-sized enterprises (SMEs) in Nigeria and South Africa build critical digital and business skills for economic and business growth.

Delivered in collaboration with Google, HP Inc and UpSkill Universe, the programme is designed to equip entrepreneurs with practical tools to thrive in an increasingly digital economy, in addition to having access to a range of courses on the HP LIFE platform.

UpSkill Universe, a leading digital skills training provider, will manage programme delivery and partner engagement. “Entrepreneurs and business owners throughout Africa are already leading change within their communities,” said Gori Yahaya, CEO of UpSkill Universe.

“We understand the challenges SMEs face as they navigate a difficult business landscape, prevalence of AI, and rapidly changing customer behaviour. Through collaboration with HP Inc.  and Google, we see an immense opportunity to empower businesses with the practical tips, tools, and technology – including AI – they need to grow, scale, and succeed.”

Building on the success of the Hustle Academy Business Bootcamp, which has supported over 15,000 SMEs across Africa since 2022, this new initiative will focus on action-oriented learning. Participants will gain hands-on skills through modules such as Unlock growth with practical skills in AI, digital marketing, and e-commerce, which are designed to help SMEs boost their productivity, attract more customers, and grow their businesses online, complemented by access to HP LIFE  – the HP Foundation’s free global online business skills training program.

The programme is also committed to inclusivity, with a goal of at least 50% participation from women-owned businesses.

“The Hustle Academy training reshaped how we connect with customers online,” shared one SME from Lagos. “These skills make a real difference for us.”

Small businesses are the backbone of Africa’s economy, accounting for nearly 80% of jobs across the continent. Yet despite their significance, many still face barriers to accessing the digital skills and tools needed to compete and grow in a changing marketplace.

The Skills for Business programme aims to bridge this gap by providing entrepreneurs with practical, locally relevant training that meets the real-world demands of today’s market.

Google’s involvement brings additional expertise in digital growth and strategy for small businesses.

“Small businesses are a driving force for progress across Africa and beyond. It’s more critical than ever to help them access the skills and tools they need to grow, especially as digital technologies transform business operations,” said Kristy Grant, Google SSA’s Head of B2B & Brand Marketing. “We are proud to collaborate on initiatives like this that enable entrepreneurs to translate their ambitions into lasting positive impact for their communities and economies.”

At the heart of the initiative is HP LIFE, the HP Foundation’s free global business skills training program, which is available in eight languages online, via mobile app, and offline. Small business owners and their employees will gain access to more than 30 practical training modules covering topics such as boosting productivity with AI, digital marketing essentials, and starting an e-commerce journey.

This will be delivered alongside expert-led virtual workshops by Google and UpSkill Universe to ensure that SMEs can build the capabilities needed to grow their customer base, strengthen operations, and drive long-term success.

“When small businesses thrive, entire communities thrive with them. The Skills for Business program is about empowering entrepreneurs to access the future of work.” said Michele Malejki, Global Head of Social Impact, HP Inc. and Executive Director, HP Foundation.

“Since 2021, HP has been on a journey to accelerate digital equity for 150 million people by 2030 by providing access to technology and digital skills content that enhances skills and economic opportunity. We are very proud to support this deeply impactful program, which will provide the support SMEs need to grow, scale, and succeed.

The Skills for Business programme aims to directly train 10,000 SMEs and indirectly impact an additional 59,000 individuals by the end of 2025, demonstrating the powerful role of partnerships in advancing Africa’s digital transformation and economic development.


Kindly share this post
Continue Reading

General News

FG Declares Admissions outside CAPS Illegal

Published

on

Kindly share this post

Federal government has declared that any admission into tertiary institutions conducted outside the Central Admissions Processing System (CAPS), will be deemed illegal.

FG Declares Admissions outside CAPS Illegal

Dr Tunji Alausa, minister of Education, gave the directive in Abuja on Tuesday at the 2025 policy meeting of the Joint Admissions and Matriculation Board (JAMB).

Alausa, therefore, warned universities, polytechnics, and colleges of education across the country against illegal admission.

He said institutions and individuals involved in such practices would be prosecuted and severely sanctioned.

“Any admission conducted outside CAPS, regardless of its intentions, is illegal.

“Both institutions and the candidates involved in such practices will be held accountable.

“Sanctions may include withdrawal of institutional assets and prosecution of culpable officers or governing council members,” he said.

CAPS, introduced in 2017, automates the admission process to eliminate human interference and administrative bottlenecks.

Alausa, however, reiterated the government’s commitment to strengthen transparency, fairness, and accountability in the nation’s tertiary education system.

He explained that while the responsibility for initiating admissions rests with the academic boards of each institution, JAMB, as a statutory regulatory body is mandated to oversee and regulate the process to ensure fairness and equity.

The Minister urged vice-chancellors, rectors, provosts, and governing councils to intensify oversight functions to prevent unauthorised practices.

He assured that the Ministry would monitor compliance closely in collaboration with JAMB.

The minister also reaffirmed the policy mandating integration of the National Identification Number (NIN) into the JAMB registration process.

“The NIN requirement has proven vital in safeguarding the integrity of our admission system by curbing identity fraud and multiple registrations.

“Any abuse of the NIN system will be identified and punished,” he said.

He highlighted the need for data-driven policies in the admission processes.

The Minister also presented statistics showing a mismatch between available admission quotas and actual student intake across many programmes, especially in agriculture, education, engineering, and the health sciences.

“We have capacity, but we are not admitting enough students.

“We need to start closing the gap, so that more children can access tertiary education,” he said.

He also criticised the proliferation of underutilised institutions, revealing that over 120 universities in Nigeria received fewer than 50 applications in the current admission cycle.

“The problem is not about access, it’s about alignment and capacity.

“We don’t need to open new tertiary institutions in every ward. Instead, we must expand and strengthen the capacity of existing ones,” he said.

On his part, Sen. Shuaib Salisu, chairman, Senate Committee on ICT and Cybersecurity,  called for stricter sanctions against institutions and administrators who undermine Nigeria’s admission process.

Salisu proposed the criminalisation of fraudulent admission practices.

He also warned institutions that exploit loopholes in the admissions system, allowing students to unknowingly pursue flawed admissions for years to desist from such practices.

He assured that the Senate Committee would explore legislation to criminalise such fraudulent practices, holding admission officers and institutional management accountable.

Salisu also called for an inclusive education system that drives peace and economic growth.


Kindly share this post
Continue Reading

Trending