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eTranzact MD Emphasises Power of Collaboration in Digital Payment
Niyi Toluwalope, the Managing Director/Chief Executive Officer, eTranzact International, has emphasised urgent need for collaboration to boost inefficiency of ePayment system.
He spoke during the 2024 Annual Conference of CeBIH (Committee of e-Business Industry Heads)’, with the theme, ‘Payment system 2030: Navigating contemporary issues in driving future growth’ in Lagos on Wednesday.
Toluwalope underscored that collaboration can drive innovation and growth, especially as the consumer landscape evolves towards a younger demographic.
He said, “So what we see in the future is the situation where things are no longer a silo, we have a lot of efficiencies based on interconnected systems people leverage on.
“Nobody is duplicating the roles; We are not reinventing the wheels. You can leverage what has been established already and build on that. For me, I think that is the future; That is what we need to adopt, and that is how to grow.”
Toluwalope further stressed that Nigeria leads in population but ranks lower in bank and payment penetration compared to South Africa and Kenya.
He emphasised that key factors driving growth include active regulatory engagement and innovative FinTech solutions, citing that inadequate infrastructure and compliance issues remain critical hurdles.
The MD added, “It’s a regulatory compliance, you cannot regulate compliance requirements, you cannot avoid it, but at the same time, it must be seamless, quick and fast.
“So digitising onboarding is one of the things we believe that’s helped payment and payment systems adoption over the last couple of years and we are expecting things to even be further simplified to make this better.”
During the event, eTranzact made a presentation on its products such as Switchit which offers modularity that accelerates financial service adoption through standalone modules, funds transfer, bulk payment and bill payment, as well as direct payment.
It presented the eTranzact CorporatePay (CPay) which allows organisations to automatically handle payment of salaries and payment to third parties with the various levels of authorizations, and approvals incorporated into the payment progress.
The Credo which the company presented at the event is an innovative multi-channel platform that empowers businesses of all sizes to conduct business and accept payments seamlessly across various touch points.
Commissioner for Wealth Creation & Employment, Lagos State, Hon. Akinyemi Ajigbotafe, speaking on the theme said, “The collaborative approach to wealth creation and financial inclusion is a subject which touches the very heart of our government’s commitment to reducing poverty and fostering economic growth.”
The Vice Chairman, CeBIH, Mrs Abidemi Asunmo, appreciated the support of all its partners and stakeholders present at the conference.
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Dr. Jane Kimemia, Optiva CEO, Honoured with U.S. President’s Lifetime Achievement Award
Dr. Jane Kimemia, Chief Executive Officer of Optiva Capital Partners, has been conferred with the U.S. President’s Lifetime Achievement Award for her exceptional humanitarian contributions and lifelong commitment to community development.
The honour was bestowed on her at the prestigious Global Reputation Forum held at the Financial Times Headquarters in London on December 6, 2024.
The U.S. President’s Lifetime Achievement Award, overseen by AmeriCorps and the Office of the President, is among the highest distinctions for individuals whose leadership and service have profoundly impacted their communities.
Ambassador Dr. Edna Frenchwood, Goodwill Ambassador of the State of Georgia, USA, delivered the award citation. Professor Simon Hepburn of Aston University and Dr Yvonne Thompson CBE, King Charles’ Deputy Lieutenant for Greater London, presented her with the award.
The citation read in part, “The U.S. Presidency congratulates you for taking it upon yourself to contribute to the public good and women’s empowerment. We are proud to present you with the Presidential Lifetime Achievement Pin today, a distinction that sets you apart as a true leader. Your exemplary service delivers a powerful message encouraging others to act.”
In a heartfelt acceptance speech, Dr Kimemia expressed deep gratitude, saying “I am deeply grateful to God for this recognition. Reflecting on my 27-year career journey, I am thankful for the opportunities to serve those I’m passionate about and the incredible team at Optiva Capital Partners. This award is a call to continue impacting and leaving a legacy for future generations.”
In addition to the U.S. Presidential Lifetime Achievement Award, Dr. Kimemia also received the Global Corporate Leadership Award, conferred by the Global Reputation Poll held at the House of Commons UK Parliament.
This award acknowledges her significant positive impact on society, widespread influence, and ability to inspire positive change, particularly in Africa. The dual accolades honour her transformative leadership and positive societal influence in Africa.
During the two-day Global Reputation Forum, Dr Kimemia participated in dynamic discussions on women in business and leadership, drawing from her 27 years of experience and her role in elevating Optiva Capital Partners to global prominence.
She highlighted the firm’s four core areas of expertise—investment immigration, investment advisory, international real estate, and insurance—underscoring its impact on global access and wealth retention.
In a fireside chat with BBC correspondent Lalita Taylor, Dr. Kimemia also shared her leadership philosophy and explored the transformative power of community empowerment, offering valuable insights into her visionary approach to driving change.
Dr. Tonye Rex Idaminabo FRSA, CEO of Reputation Poll International, emphasized the forum’s mission to celebrate individuals who lead with purpose and integrity and foster meaningful conversations on pressing global issues.
Dr. Kimemia’s recognition as a humanitarian and corporate leader solidifies her legacy as a trailblazer inspiring transformative change.
Her achievements stand as a beacon for future generations, exemplifying the power of leadership rooted in service and impact.
Other notable recipients of the Global Reputation Poll awards included Busie Matsiko-Andan, President, New York Africa Chamber of Commerce; Hon. Robert Muchintha Chabinga, Member of Parliament, Republic of Zambia; Dr Edna Frenchwood, Goodwill Ambassador of the State of Georgia, USA; Dr. Martha Namundjebo-Tilahun, former President of the Namibia Chamber of Commerce and Industry and General Electric Company.
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GMOs are Food Poison – Agric Experts
Pro organic and agro-ecologists have staged a rally in Ibadan, the Oyo state capital, to protest against Genetically Modified Organisms (GMOs) which they consider as food poison.
The rally was organised by GMO Free Nigeria in collaboration with Organic and Agroecology Initiative (ORAIN).
Olugbenga Adeoluwa, leader of the group and professor of Soil Fertility, University of Ibadan, said they were against genetically modified organisms and raising the awareness of its impending danger.
The News Agency of Nigeria (NAN) reports that a petition was submitted to the Oyo state House of Assembly, and received by Bayo Olaniyan, chief of staff to the Speaker.
The group kicked against the approved genetically modified beans, cotton and maize approved by the federal government.Food and travel guides
They cited toxic herbicides like roundup and others approved by agencies of the government.
Adeoluwa said, “We say no to the incursion of these negative scientific innovations into our food systems, not just in Nigeria, all over the world. Why are we saying this? Genetically modified technology in food systems has been found to counter human health.Food and travel guides
“There are quite a lot of diseases like cancer, organ failure, hormonal failure that have been traced to food consumption, as a result of manipulation of our food system right from the field.”
According to him, there are a lot of research outputs that have been issued recently that have shown the correlation between consumption of GMO foods and human diseases, especially inflammatory of specific organs in human cells.
“I am talking about the organs of test animals which we feel as scientists can also affect humans and so this is why we are saying no to GMOs in Nigeria.
“We know that there are challenges of biosecurity which means that there is no guarantee that allowing these GMO foods and crops into our food system can be curtailed.
“What we are saying is that no to GMOs food in Nigeria, no to anything that could compromise our health, no to negative scientific innovations called GMOs food.”
He encouraged Nigerians to embrace the use of compost and manure, as well as indigenous technology that have been found in seeds and breeds and resistant to diseases, droughts and all manners of things countering healthy living.
Also, Dr. Mojisola Oyewole, a senior lecturer in the University of Ibadan, said the rally was to press home the negative impacts of GMOs.
“The effect of these GMOs on the healthy living of an individual is non-negotiable and so we are in the movement of saying no to GMOs in our society.
Oluwafemi Adebayo, one of the protesters, from the Department of Agriculture Extension and Rural Development, said GMOs had adverse effects on the lives of people.
Chief Moshood Salimonu, a farmer, from Akinyele local government area, said GMO had never been the solution to food security and good nutrition, adding that “I want to see my children grow up healthy and happy.”
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Auditors Urged to Embrace New Technologies in Service Delivery
Advanced and emerging technologies such as artificial intelligence (AI), blockchain, robotic process automation, data analytics, among others, are critical for auditors, to deliver real-time audit service in a rapidly changing world.
This was the position of Bode Agoro, head of service, Lagos State, at the 15th annual Lagos State Auditors’ Retreat, with the theme, “Digital transformation in audit: Assessing technological threats and opportunities”, held in Lagos on Thursday.
According to Agoro, in line with the retreat’s theme, there are significant challenges and threats associated with auditing task, which should be mitigated. He mentioned cybersecurity risks and data integrity as some concerns that require continuous skills development detect if auditors must deliver efficient service.
“It is auditors’ responsibility to face these challenges head-on, by leveraging technology not only to improve their operations but also uphold public trust in our systems.
“As we navigate an era defined by swift technological advancements, it is crucial for us, as public servants and stewards of accountability, to adapt to these changes with foresight and agility. As auditors, we must uphold a high standard defined by core principles such as integrity, accountability, and transparency.
“These principles are the foundation of our profession and guide us in our mission to ensure that public resources are managed effectively and responsibly. It is our moral and professional obligation to maintain these objectives, regardless of the challenges posed by the digital landscape”, Agoro said.
Kehinde Joseph, chairman, public account committee, Lagos State House of Assembly, also speaking at the event, charged auditors against colluding with officials of ministries, departments and agencies (MDAs) to defraud the government.
According to Joseph, auditors must at all time work to protect public interest without compromising their integrity.
Speaking also, Muyiwa Adetola, permanent secretary/state auditor-general designate, whose office organizes the annual retreat, said a lot of progress had been made in the area of exposing auditors in the state to new trends and tools that aid their capacity for service delivery.
“As the auditor-general of Lagos State, I am proud to say we have made progress in leveraging technology to enhance public accountability. Yet, our journey is far from over. We must not only adopt new tools but also develop frameworks to ensure their ethical and effective use”, Adetola noted.
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