Connect with us

News

Abubakar, Galaxy Backbone MD, Emerges CommunicationsWeek ‘Man of the Year’

Published

on

Kindly share this post

Prof. Muhammad Abubakar, managing director, Galaxy Backbone was at this year’s Beacon of ICT Awards held on July 24, 2021 received Nigeria CommunicationsWeek ‘Man of the Year’ award.

According to Ken Nwogbo, managing director, Nigeria CommunicationsWeek, organisers of the BoICT Lectur/Awards, “ Prof. Abubakar emerged as our ‘Man of the Year’ through a transparent online voting process opened to stakeholders in ICT where over one million votes were cast and Prof. Abubakar came tops.

“The emergence of Prof. Muhammad Abubakar is a testament of his immersed contributions to the growth and development of information and communications technology since he became the chief executive officer of Galaxy Backbone.

“Under the leadership of Professor Muhammad Abubakar, GBB rose up to the challenge of the time by putting in place virtual interaction platforms to facilitate communication and collaboration in government from the Federal Executive level to intra-MDA levels. Connectivity was provided at the residence of key government officers to ensure seamless interaction during lockdown and movement restrictions required to manage COVID-19 pandemic,” he said.

With respect to the operation efficiency of Galaxy Backbone, Prof. Abubakar spearheaded many initiatives to drive improvement, promote agility, cut costs, and improve the quality of services. From technical and financial effectiveness to human resources and capability development, a number of initiatives were implemented to better position GBB.

He is also driving many initiatives that will promote collaboration and partnership with all stakeholders which include Government institutions, MDA customers, suppliers and channel partners.

In the first year of Professor Muhammad Abubakar, a lot of historic achievements have been made and a foundation set for growth of the organization to better position it to deliver value in line with its mandate and Government strategic direction and priorities.

To set the direction for Galaxy Backbone for the next five years, the management of Galaxy Backbone under the leadership of Prof. Muhammad Abubakar has developed Galaxy 3.0 – a Strategic Business Plan to set goals to be achieved on annual basis for the next five years.

The Business Plan was underpinned by the mandate of Galaxy Backbone and key strategic policies of the Federal Ministry of Communications and Digital Economy.

The Strategic Business plan identifies activities required for GBB to improve in the delivery of its mandate, support the attainment of the objectives of the National Digital Economy Policy and Strategy (NDEPS), Nigerian National Broadband Plan (NNBP), and Nigerian eGovernment Masterplan amongst others.

It also lays down strategy to engage the MDAs to better support the attainment of their mandates while also identifying strategy for collaborating with technology partners to deliver value.

The Business Plan will help Galaxy play its roles in the achievement of the policies of the Government as prioritized and laid down by the Federal Ministry of Communication and Digital Economy.

The Plan also focuses on ensuring that critical national ICT infrastructure that Government has invested in is optimized to provide value to Government MDAs, Private Sector players, citizens, and underserved communities whilst also ensuring GBB sweats the assets and makes meaningful return on investments.

The Man Prof. Muhmmad Abubakar

Professor Abubakar has over two decades of working experience spanning the academia, oil and gas exploration research, development and innovation institutions. He is a strategic thinker with strong leadership and management skill. He has an impressive exposure to global best practice in the field of energy. Muhammad is a Professor of Petroleum Geosciences.

Prior to his appointment as MD/CE, he was the Executive Director and a Principal start-up for the establishment and development of the National Centre for Petroleum Research and Development of the Energy Commission of Nigeria, where he spearheaded a cross-cutting edge research that developed the conceptual exploration model deployed in the successful oil and gas exploration in the frontier basin of the Northeast Nigeria. He was also a Research Consultant to NNPC on oil and gas exploration.

Muhammad hails from Gombe State. He is an alumnus of Abubakar Tafawa Balewa University, Bauchi (where he obtained B.Tech. in Applied Geology, M.Sc. in Sedimentology/Petroleum Geology and Ph.D. in Sedimentology/Petroleum Geology), German Academic Exchange Service (DAAD) and was a recipient of several awards that included National University Commission’s (NUC’s) best Ph.D. thesis award in physical sciences from all Nigeria Universities.

He has attended several information and Communication (ICT) training programs including basic Cisco Academy Networking certification, several local and international programs in leadership and strategic management, as well as many sustainable development trainings in the field of energy.


Kindly share this post

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

News

NIA Questions Legality of Reps’ Financial Probe

Published

on

Kindly share this post

The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.

In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.

It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.

The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.

In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.

“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.

“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.

“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”

Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.

“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.

17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.


Kindly share this post
Continue Reading

News

Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

Published

on

Kindly share this post

Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).

Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.

“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.

She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,

Learning through experience

Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.

Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.

Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.

Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.

World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.

The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.

The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.


Kindly share this post
Continue Reading

News

CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

Published

on

Kindly share this post

Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.

Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.

The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.

It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.

Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.

He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.

According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.

“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.

“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”

The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.

He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.

Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.

“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.

“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.

“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.

The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.

All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.


Kindly share this post
Continue Reading

Trending