General News
Aviation Depends Highly on ICT- Yusuf
Baba Abdullah Yusuf, head ICT and Systems Department, Nigerian Aviation Handling Company (Nahco Aviance) Plc is a graduate of Information Systems from the University of Kent, London.Yusuf has worked for 16 years in ICT industries spread around United Arab Emirates, before joining Nahco. He is a fellow of the Institute of Data Processing and Management, London and a member of other bodies, especially in the information analysis and programme management. He spoke to peter ugwu. Excerpts:
Overview of Nahco’ Department
Basically, the Nahco Aviance ICT department is just like every other ICT department in organizations, which usually drives businesses. However, as a key player in the Nigerian aviation industry, Nahco Aviance appreciates the fact that ICT makes the organization and the people more productive, innovative and smarter. We are leveraging on ICT to increase business efficiency and effective service delivery that will result in customer satisfaction. ICT being the key to automation is playing an important strategic role in taking our business to the next level. Having spent 31 years in this business, we recognize the fact that technology is the veritable tool for growth and development. As such, the Board of Directors of Nahco Aviance and the Executive Management of the company are investing in ICT to achieve our corporate objectives in line with global best practices. Is no longer news that we have migrated from manual work environment to automated structure. To that stance, IT department occupies a vintage position in arriving at company’s aspirations at this age.
Significances of Newly Installed Systems
The essence of the installations is basically to make the business thrive properly. Is also a platform that shows Nahco Aviance complies with the international best practices. The sophisticated machines were installed between February and March this year to make sure we are not found wanting by the international regulators and to work in line with the Nigerian Civil Aviation Authority (NCAA) laid down standards. Some of the machines are scanning systems positioned at the export shed of our cargo warehouse as DV compliance machines. Some others are explosives detective systems with the capacity to detect dangerous weapons in liquid forms. The strategy is to ensure that all contraband goods are not found in/or out of the country through our warehouse. We are very much aware of the porous nature of some of the country’s borders. So, we are doing the business differently. So, the management has mandated the ICT department to pursue the course with utmost vigour. We are futuristic in our installation programmes, because we wouldn’t want to have infrastructure that will be become outdated in a year or two. Before the latest installations, we have carried out a lot of projects we felt will impact on the industry. Today, aviation industry is a prestigious sector and at the same time, an industry that highly depends on ICT for it survival.
Clientele
We can boost of being well equipped and capable of satisfying our numerous customers, regulatory agencies, both international and national bodies and the government. We have the systems that make aviation handling very interesting part of the entire system. Currently, Nahco Aviance control about 80 per cent space of the business, because the more you get equipped the more confidence you build, for instance, major foreign airlines ground handling assignments fall under the purview of Nahco Aviance following the cutting edge we have in the areas involved.
Security
Like I said earlier, ICT department is a microcosm that controls the entire system in aviation. That is, the activities of ICT experts are critical in ensuring a secured environment for the airlines and their passengers to operate, which stretches to national security. For instance, if a chunk of the cargoes that come into the country are through our shed and we handle about 80 per cent of foreign airlines and their passengers; you can attest to the fact that we occupy a typical ground in the mission for the sustenance of the nation’s security. A lot of this can leave our shores as well, posing grave danger to other countries, in that regard; we have installed systems in places to safeguard such national embarrassment. And the arrangement is adding value to what customs are doing over there.
Innovations
We have been able to move to a digitalized setting and currently runs on about 75 per cent automated platforms. Our target is 100 per cent by the end of the year. Some of the areas automated environments include our mailing system, payment and financial processes. More so, our cargo processes are ICT compliant. And to encourage, transparency, our staff attendance and record keeping procedures have been integrated into the network. We have equally installed powerful security gadgets like CCTV in strategic places. We are not relenting on implementing innovative gesture that will put the nation’s aviation sector always on the right track.
Storage Optimizations
We understand that when you have made such huge investment in automation and networking without necessary provision of security, it simply means that the investment is a nullity. In other words, Nahco Aviance is never negligence of the fact that some callous minds in the society would want to put spanner on your wheels, ruining such investment and putting the country in bad light. We have gone ahead to maintain optimal security. The unified threat detective platform of Nahco is the kind of infrastructure government should be looking out for, because it underpins the lapses that may occur due to breaches by intruders. So, if ICT is the pilot in the aviation sector and you leave it to be leveraged by criminals then you are flying blind.
Warehouse Modernization
We are running a semi-automated warehouse in the sense that is largely automated but not 100 per cent due to our peculiarity as a nation. Meanwhile, the sheer reason of unavailability of infrastructure is capable of stopping any firm from having 100 per cent automation. So, as highly automated as the warehouse and IT playing significant role in the sector, one has to admit the fact that manual operations as still needed.
Government Involvement in ICT
Well, I would like to dwell mainly on the provision of enabling infrastructure and in this case, is not just about the aviation industry. Every sector in Nigeria today needs intervention in that regard. The government needs to complement the efforts private companies are making in fixing various sector, aviation not excluded. We understand that the present administration in the country is very interested in adding values to every sector and has invested as well; however, power problem remains the biggest issue. Unless it is solved, no sector will heave sigh or relief.
Software Incubators for National Development
I restricted my comments to power, but you see every sector in suffering from one different problem or the other, most times, the cause is negligence by concerned authorities. However, the stakeholders in the ICT industry actually welcome with gladness, the establishment of Ministry of Communications Technology, but the challenges Nigeria has is beyond just setting up a Ministry. In one of your publications, Nigeria CommunicationsWeek did quote the president of Institute of Software Practitioners of Nigeria saying that over 80, 000 computer students in Nigeria face bleak future; what does that portend. On yearly basis, the nation’s universities produce army of half-baked graduates, not that the students are not willing to learn, but technical apparatus in the form of national software incubator to aide the students is not there. So, it behooves on the Federal and State Governments to provide these students with infrastructure to gain prerequisite knowledge. Why the non provision of enabling ground for the upcoming generation is paramount is that ICT sector requires being updated on daily basis. Therefore, there is every need for the injection of funds into the ICT industry, particularly to enhance the country’s chances in building laboratories and intensify Research and Development (R&D) programmes. The impact will be such that a computer graduate will be employable, whether in aviation or any other sector. Is it not because our graduates lack the basic skills that force organizations to go for the services of foreigners? Meanwhile, an average Nigerian youth poses excellent mind, capable to survive any situation, hence little support is given to him. There is no part of the world they are not visible, adding values, is rather unfortunate that people only hype the negative connotations about us, whereas the future of critical sectors of the economy like the ICT depend on the youths. When you take a tour of Computer village in Ikeja, you will be amazed at what these youths are doing, even when not supported by anybody, so, what they need is just a spike to fire up.
Ministry of ICT
My passionate appeal is for the ministry to leave to the expectations, especially in line with the terms of reference given to it. It was caved out to take the nation’s economy to the top, because survivals of other sectors lie solely on its achievements. And more to that, no body would like describe the ministry as a stillborn at the end of the day. With Federal Government funding it, the ministry must strategize on how to mitigate the digital divide in the country. The issues of telecomm operators and quality of services rendered to the public should be addressed; reaching the un-reached segment of the society, among other issues.
General News
FG Deploy New Printers for Passports following Outcries from Nigerians in Diaspora
Nigerians in the diaspora have petitioned Dr. Olubunmi Tunji-Ojo, minster of Interior, over passport printing in Atlanta and New York Consulates in the United States of America.
To this effect, the minister has approved and directed the Nigeria Immigration Service (NIS) to immediately deploy new printers to the passport offices in both cities.
These printers, according to him, are ready for installation. This short-term solution, he said, aims to resolve the current challenge promptly.
In a statement, the minister said that there is a new solution being implemented as a long-term plan that will usher in a streamlined passport regime, enabling Nigerians to apply for their passports with more ease.
Part of this plan includes the activation of a Passport Personalisation Centre in Abuja, which is scheduled to start in the next few weeks while also opening up more countries for the already-deployed contactless solution.
According to Tunji-Ojo, they are working round the clock, and none of the agencies is left behind.
“At the Nigeria Immigration Service, there has been an end-to-end automation of the passport application process and the introduction of the contactless application process, which has since been launched in Canada,” he said.
General News
CBN’s FX Code to Boost Transparency for Launch on January 28
The Central Bank of Nigeria (CBN) said it has approved the release of the Nigerian Foreign Exchange (FX) Code and will officially launch the same on January 28, 2025.
The FX code serves as a guideline to the banking industry to promote ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market (NFEM).
“The Bank will formally launch the Code at the CBN Head Office Auditorium, Abuja, on Tuesday, January 28, 2025,” the CBN said in a notice published on its website.
In a bid to strengthen the governance and transparency of Nigeria’s FX market, the CBN in November 2024 introduced revised guidelines for the Nigeria Foreign Exchange Market (NFEM).
A key feature of these guidelines requires the boards of banks, alongside their Chief Executive Officers (CEOs) and Chief Compliance Officers, to annually attest to the Nigeria FX Code of Ethics and Conduct. This attestation underscores their commitment to uphold market integrity and comply with all CBN-issued circulars and guidelines.
The revised guidelines aim to deepen the foreign exchange market following the consolidation of all official FX market windows. The circular, issued by Omolara Omotunde Duke, director of the CBN’s financial markets department, supersedes prior directives, including the operational changes announced on June 14, 2023, and earlier circulars dating back to 2017.
Under the new framework, authorised dealers must facilitate FX transactions for firms and individuals while ensuring compliance with regulations. These dealers are tasked with conducting due diligence, providing transparent pricing, and offering market access through digital solutions.
Furthermore, all legitimate FX transactions must occur exclusively through authorised dealers, while dealings with unlicensed intermediaries are strictly prohibited.
Bureaux de Change (BDC) operators are also included in the revised guidelines. Licensed BDCs are allowed to purchase FX from authorised dealers to meet customer needs, within the limits set by the CBN. Similarly, all FX transactions conducted by BDCs, International Money Transfer Operators (IMTOs), and authorised dealers must adhere to the terms of their licenses and the Nigeria FX Code.
General News
Visa, Moniepoint Join Forces to Accelerate Financial Inclusion in Africa
Moniepoint Inc, one of Nigeria’s leading business payments and banking services platforms, has secured an investment from Visa, a global leader in digital payments.
The investment marks an important milestone in Visa’s commitment to advancing financial inclusion and shaping the future of digital payments while fostering SME growth across Africa.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt) has established itself as a leading financial platform for Nigeria’s vast network of small and medium-sized businesses (SMEs), offering an integrated suite of services, including digital payments, bank accounts, credit, foreign exchange (FX), and management tools.
The platform processes over 1 billion transactions monthly, with total payments volume exceeding $22 billion, enabling businesses to digitize their operations and thrive in Africa’s rapidly evolving economy.
With this investment, Visa supports Moniepoint’s mission to empower African businesses, further accelerating its growth and expansion across the continent. Moniepoint’s profitable and scalable business model, alongside its strong operational and financial track record, has positioned it as a transformative force in the African fintech ecosystem.
As Africa’s Fintech landscape continues to evolve rapidly, driven by a dynamic ecosystem and a focus on bridging the financial inclusion gap, Visa has been at the forefront of this transformation, putting its expertise and resources to work in support of the growth of African Fintech startups.
Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said: “We are thrilled to announce Visa’s investment in Moniepoint. Visa’s backing is a strong endorsement of our vision to digitize and support African businesses at scale.
“Together, we aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy. Given that about 83% of employment across Africa is in the informal economy, we are very keen to widen access and participation in the formal financial system and drive economic growth across Africa.”
He continued, “Visa’s expertise in global payments and Moniepoint’s proven ability to serve African businesses make this partnership an exciting opportunity in shaping the continent’s economic future even as we pave the way for a more inclusive and dynamic financial ecosystem.
“We are delighted in joining forces with Visa to enhance the digital payment infrastructure, expanding financial services, and fostering innovation in Africa.”
Andrew Torre, Regional President, Central and Eastern Europe, Middle East and Africa at Visa, added: “Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development.
“By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond. We are excited to support their next phase of growth and innovation.”
“Visa’s investment in Moniepoint is the latest example of our long-standing commitment to advancing digital economies in Africa. We will enable even the smallest businesses to thrive through innovative payment and software solutions that allow SMEs to scale and open new revenue opportunities, while streamlining their operations.”
Moniepoint has experienced exponential growth since its founding in 2015, with revenues increasing by over 150% CAGR in recent years. The company’s efforts to expand access to financial services align closely with Visa’s mission of enabling individuals and businesses to thrive in the global economy.
Congratulating both parties, the Nigerian Investment Promotion Commission (NIPC) celebrates this strategic investment in Moniepoint, highlighting it as proof of Nigeria’s attractiveness for investors due to its favorable business climate.
Furthermore, the NIPC praised Moniepoint as an exemplar of Nigerian excellence contributing significant value to the global financial ecosystem. The Commission emphasized its commitment to supporting investors and fostering economic cooperation in finance and technology to help Nigeria reach its full economic potential.
This partnership combines Moniepoint’s local expertise and innovative business model with Visa’s global resources and capabilities. Together, Moniepoint and Visa aim to accelerate the digital transformation of African SMEs, driving financial inclusion and long-term economic prosperity.
Visa joins other notable investors including Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, QED Investors, Novastar Ventures, British International Investment (BII), FMO (the Dutch entrepreneurial development bank), Global Ventures and Endeavor Catalyst in advancing Moniepoint’s mission to create a society where everyone experiences financial happiness.
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