Telecom
NITDA Recommends Use of Big Data to Build Viable Digital Economy
Mallam Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA) has said that building and harnessing of big data is a panacea for building a strong Digital Economy.
Mallam Inuwa Abdullahi disclosed this at the 2nd Nigeria Data Summit Theme: “Leveraging National Data for Nigeria’s Digital Economy Development” held (virtual) on Friday.
He explained that for the country to build a Digital Nigeria with a strong Digital Economy, we need a solid strategy for the exploration and management of our vital resource that drives Digital Nation and Digital Economy, which is data.
According to the NITDA Boss, “As we embarked on our journey to Digital Nigeria, we need to lay a strong foundation for its corresponding economy, the digital economy”.
Equally, the NITDA Director General, said that just as the physical natural resources are driven by oil, so also is data the primary resource that drives the digital economy.
He said, “The phrase “Data is the new oil” exposes certain similarities between data and oil.
“Just like oil, data needs refining before its actual value can be unlocked.
“Data also needs exploration and processing to extract its value or meaning significantly.
On the other hand, Mallam Inuwa Abdullahi said that there are some dis-similarities between data and oil, according to him, “while oil is a finite resource, data is infinite and reusable resource, it also has more varieties than oil, and can easily be moved and transported from one point to the other”.
He noted that several developed countries across the world are already using big-data for monetary and fiscal policy formulation, combating the Financing of Terrorism (CFT); crime prediction and prevention, national defence/security management; national planning and budgeting; together with disaster prevention and management, among others.
Mallam Inuwa Abdullahi further explained that the essence of the Data Summit was to help the country build a successful digital nation and a corresponding digital economy.
He further revealed that the outcome of the summit and other existing national data regulations, guidelines, standards, and policies will be leveraged to develop a solid national data exploration and management strategy for our digital landscape.
“Consequently, we are going to leverage the outcome of this summit and other existing national data regulations, guidelines, standards, and policies to develop a solid national data exploration and management strategy for our digital landscape.
“The strategy is aimed to achieve three objectives, to identify action items to transform the Nigerian big data landscape and help the government to develop the capabilities required for effective data exploration and management.
“To develop a comprehensive and time-bound roadmap of how we are going to explore and manage our big data.
“And to come up with an execution plan on how to close the gap between where we are currently and where we desire to be in the area of data exploration and management”.
Mallam Inuwa Abdullahi also submitted that the initiative is in line with President Muhammadu Buhari’s campaign promise in the area of Security, Economy, and Anti-corruption.
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.
The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.
They also ordered that post-API debts be settled before December 31, 2024.
The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”
The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.
The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.
“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.
“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.
“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”
According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.
CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.
The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.
This implies that any session lasting less than ten seconds will not be billable.
The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”
Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.
The telecom regulator made this announcement in a statement.
The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.
The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.
The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.
However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.
“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.
The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.
“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”
The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.
Airtel Africa, a provider of telecommunications and mobile money services, has announced the commencement of a second share buyback programme that will return up to $100m to shareholders.
The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.
Furthermore, the buyback remains in line with the Company’s existing capital allocation policy.
According to the company, the programme will be executed in accordance with applicable securities laws and regulations.
The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025.
The first tranche will amount to a maximum of $50m.
The Company has entered into an agreement with Barclays Capital Securities Limited (Barclays) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays.
Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.
The sole purpose of the buy-back programme is to reduce the capital of the Company.
It noted that as such, all shares purchased under the buy-back programme will be cancelled.
In a statement signed by Simon O’Hara, group company secretary, the company noted that the share repurchase process will adhere to pre-set parameters agreed upon with Barclays Capital Securities Limited (Barclays), the executing partner for the first tranche of the buyback programme.
This partnership ensures that purchases are conducted transparently and in compliance with all regulatory requirements.
The buyback will be executed under the authority granted by shareholders during the Annual General Meeting held on July 3, 2024, which permits the repurchase of up to 374,141,187 ordinary shares.
Following the completion of a prior buyback programme, the remaining authority allows for the acquisition of up to 328,842,995 shares.
Additionally, Airtel Africa confirmed its commitment to adhering to the Financial Conduct Authority’s UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK domestic law.
The company also clarified that share purchases may occur during closed periods, consistent with these regulations and the agreed parameters.
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