E-Business
ConnectNigeria Panelists Urge SMEs to Leverage Mobile Money, eCommerce
It is an obvious situation that the Small and Medium Enterprises (SMEs) are confronted with several challenges which hamper their growth and the nation’s economic development.
Chiefly among the challenges that need to be addressed immediately include finding solutions to the high cost of doing business occasioned by poor infrastructure (power, roads, water), multiple taxation, high cost of legal documentation of credit facilities at both the states Lands Registries and the Corporate Affairs Commission (CAC); inadequate capacity building on the part of the SMEs in the areas of entrepreneurship, and skills acquisition, resulting in the perception of the sector as high risk and poor attitude to loan repayment by borrowers in the sector.
With these in mind, Connectnigeria.com recently organized an e-Business Fair for SME owner to engage face-t-face with players in the financial, e-commerce, and telecommunication sector, and to seek palliatives to the challenges.
Speaking during a panel discussion at the Fair, Mr. Obaro Osah, head, Lagos Region, SMEs Group at Bank of Industry (BoI) said that the Bank has ben playing critical role by providing grounds for small businesses financing.
He said that the Bank has made the process of accessing funds very easy by reducing the processes to three easy activities to apply for funding now, giving every Nigerian access to funding for business.
According to him, most startups are faced with the challenge of penning down marketable business proposal.
In lieu of that, BOI entered into partnership with 232 Business Development Support Partners (BDSPs) to help the entrepreneurs in drafting presentable proposals to banks for grants or loans.
He also urged participants and other startups to embrace cashless as a means of reducing risks associated with carrying cash around, and means of packaging their activities to partake in the formal sector of the economy.
Also speaking, Mr. Mike Ogbalu, managing director, FirstMonie, the FirstBank mobile money services platform, said that they have been driving innovative mobile payment systems and commitment to continuously deliver innovative products and solutions, part of which includes enhancing the robustness of its mobile banking and mobile payments platforms.
Ogbalu while encouraging participants at the Forum to join other 2.4 million FirstMonie subscribers who enjoy services dispatched through more than 13,000 agents it has established, he said the ultimate aim is to create more value for their customers.
Firstmonie is designed to enhance financial inclusion and cater for millions of Nigeria’s unbanked and the underbanked citizens, while aligning with the Central Bank of Nigeria’s policy to promote a cashless economy in Nigeria.
Ogbalu said that the Firstmonie solution was provided to entrench e-banking through the use of the mobile phone and to mitigate the challenges of banking services delivery to the vast unbanked market.
Nigeria CommunicationsWeek recalled that, in recognition of Firstmonie continued effort to drive financial inclusion, lead innovation in mobile payment systems and support the CBN cash-less policy, the platform was awarded the Best Mobile Money Operator in Nigeria by the EFInA Financial Inclusion Awards.
From Union Bank of Nigeria’s perspective, Mr. Ayodeji Mebude, head of Channels, said that the bank sees support for SMEs growth as critical in the life of a nation.
He said, this inspired the Union Bank and as part of its transformation programmes to launch a number of initiatives targeted at the group.
Apparently, Union Bank launched an enterprise hybrid account that gives growing businesses the flexibility of a current account with the benefits of a savings account.
It is suitable for businesses such as co-operative societies, trade associations, professional bodies, social clubs and Non-governmental organizations.
Some of the features of the UnionEnterprise Hybrid Account include: access to Union Bank’s array of value adding, e-banking products and services; a minimum daily opening and closing balance of N5, 000 only; lodgement of cheques/dividend warrants; as well as provisions for third party over-the-counter transactions across the Union Bank branch network.
Additionally, UnionEnterprise Hybrid Account holders will enjoy accrued interest on their account balance at the prevailing savings account rate, with zero commission on turn over.
Representing Skye Bank, Ayodele Olojede, head, Small Business Group, said that as parts of its contribution towards the development of the real sector of the economy, Skye Bank Plc had introduced a number of products and incentives designed to help Small and Medium Scale Enterprises (SMEs) grow their businesses through access to finance and effective management of their financial resources.
Olojede said that the bank’s decision to support SMEs is based on the realisation that these small businesses are the major drivers of any economy worldwide.
She also hinted that the Bank will be making a major announcement in that regard soon.
And Femi George, data platform lead, Microsoft Nigeria, added that entrepreneurs ought to foster a culture of business innovation to survive in the present tech-world.
He said, Microsoft recognizes that, “In the digital age, technology has become the great equalizer, giving voice to your customers, partners, and employees and enabling your business to listen and become more responsive to customer needs and opportunities – using the connectedness of the cloud to respond with new business models, expanded channels and improved processes”.
He defined ‘The Microsoft Cloud’ as unique, as the companies that use it.
From a city that streamlines how its people travel through it, to a global outdoor apparel company that connects its teams around the world. See how this cloud has transformed some of the world’s greatest brands, George said urging the participants to leverage the opportunities in the Cloud.
Mr. Emeka Okafor, managing director, Connectnigeria.com, Organisers of the Forum, spoke to Nigeria CommunicationsWeek on the sideline of their decision to host the Forum with over 1000 SMEs in attendance.
He said, “Developing entrepreneurs is a continuous process in the life of a nation. What we hope people got out of the Forum is knowledge that will help them propel their businesses from, maybe, N1,000 to N10,000 daily or from a ten-man business to 100-man business. We looked for the professionals and those that have passed through some rough edges to share their experiences and inspire the young ones; telling them the steps to follow and others to avoid.
“Great countries do not depend on government to grow businesses; individuals do. Bill Gates of this world, and others did things that changed the world. Government may be doing enough in terms of policies, but which country has ever said that government is doing enough? They are individuals who go beyond current trends and break even.
“So, we put the Forum together because of love for the Country. We love this country; it is the only one we have and we want it to grow. We believe that now we are in the digital age, IT moves the world, we have very creative people; surprisingly, God has blessed this nation that close to 80% of the population are youths, therefore, if we are able to make them see potentials in what they do, the nation’s economy will blossom. Imagine where one million young people hired two million people each, we will wipe out unemployment”.
He described various eCommerce platforms introduced in the market as “fantastic; there is nowhere else we can go except up! Gone are the days were like ‘Nigerians are fraudulent, so we cannot do business with them’. They have seen the potentials of eCommerce with the ever growing population, smartphone users, internet growth and other developmental strides.
The fair also featured panel discussions that involved Supermart, Uber, Jovago, among others; exhibitions and networking.
SystemSpecs Holdings Ltd unveiled at the weekend the rebranding of its subsidiary Deelaa to Whatadeal, launching an ambitious digital commerce platform poised to transform travel, events, and e-commerce across Africa.
John Obaro, group managing director, SystemSpecs, and Fela Bank-Olemoh, managing director of Whatadeal
The announcement comes amid a surging demand for integrated digital services in Nigeria and beyond, as the continent’s e-commerce and travel sector stand on the cusp of exponential growth.
The launch event, held in Lagos, demonstrated SystemSpecs’ vision for a seamless, value-centric consumer experience.
This strategic rebrand follows the company’s acquisition of Knit Technologies, amalgamating cutting-edge innovation and industry expertise into Whatadeal—one of four subsidiaries under the SystemSpecs umbrella.
John Obaro, group managing director, SystemSpecs, emphasized that the transformation reflects an unwavering commitment to technological advancement and customer empowerment.
“Whatadeal transcends a mere rebranding—it embodies a dynamic ecosystem designed to deliver unparalleled value and memorable experiences,” Obaro told reporters.
He elaborated, “Our ambition is to ensure that whether you’re organizing an event, procuring tickets, or seeking the finest deals, Whatadeal is your definitive destination. We are also in advanced discussions with leading travel industry players to curate exceptional travel experiences across Nigeria.”
Originally introduced in 2022 as an e-ticketing and marketplace platform, Deelaa catered to both businesses and consumers.
Its evolution into Whatadeal responds to shifting market dynamics, offering an integrated solution for booking flights, securing event tickets, and shopping online.
The platform will be powered by Remita, SystemSpecs’ acclaimed electronic payment and collection system, which underpinned Nigeria’s Treasury Single Account initiative—one of the most extensive implementations of its kind in Africa.
Steering this venture is Fela Bank-Olemoh, managing director of Whatadeal and a SystemSpecs stalwart since 1998.
With over two decades of expertise spanning technology, marketing, and public service, Bank-Olemoh brings a formidable pedigree to the role.
He founded MediaVision Limited, a preeminent sports marketing firm in Nigeria, before serving as Special Adviser on Education to the Lagos State Governor from 2015 to 2019 and later as Senior Special Assistant on Education Interventions to Nigeria’s President from 2019 to 2023.
Bank-Olemoh articulated the platform’s ethos: “At Whatadeal, we hold that exceptional experiences and valuable offers should be effortless, not convoluted. Our mission extends beyond merely facilitating deals—we are cultivating an ecosystem that nurtures engagement, trust, and enduring value for our customers.”
He added, “Whether you’re arranging travel, acquiring event tickets, or purchasing essentials, you deserve an intuitive, rewarding experience that consistently delivers excellence. Whatadeal is dedicated to realizing that vision.”
SystemSpecs aims to establish Whatadeal as the preeminent one-stop platform for African consumers, blending convenience with competitive offerings.
With its fusion of Knit Technologies’ innovations and Remita’s robust infrastructure, Whatadeal is poised to redefine digital commerce on the continent.
How much do you trust your device memory? Definitely more than you should. According to the statistics only 33% of users back up their data regularly, and more than 77% of people have already experienced data loss.
An annual tradition which started as a simple reddit post back in 2011, World Backup Day is celebrated on 31st March 2025 to provide a reminder of the importance of backing up data. To mark the occasion, Kaspersky shares practical advice on how to create new beneficial digital habits to ensure your backups are safe.
The first question that should be taken into consideration is: what exactly needs to be backed up? The answer seems to be lying on the surface.
The more you back up – the better. Work-related documents, family photos, financial info, health records, logins and passwords, and even content shared within messengers. In fact, all of this needs to be backed up using reliable storage methods.
There are several reasons why it is recommended to copy as much data as you can.
First of all, the device on which the information is stored may simply be lost, stolen or damaged. For example, UK’s South Western Railway reports that at least 5 smartphones are lost per day on its network, which is almost 1800 devices per year.
Among other potential threats to data safety are ransomware attacks. This is a type of malware that blocks a computer and then demand a ransom for its release. In some cases, even paying the ransom does not help to restore data on an infected device.
Despite these substantial risks, in everyday life it’s almost impossible (and to some extent pointless) to back up everything. Our devices contain gigabytes of information, most of which has no value. Creating backup storages of such a scale is time-consuming and expensive.
The main advice is to rank data correctly. Try to assort the items needing to be backed up by evaluating their relevance, recency and recovery options.
If a file, record or password is outdated or may be replaced by a newer version, backup may be safely ignored. If it is a new or highly valuable piece of information, backing up is necessary and preferably there should be more than one copy.
The art of backup
The next step towards data loss prevention is finding the suitable backup method to select. Obviously, it depends on multiple factors: type of data, type of device, pricing, user’s personal preferences and habits.
The most popular backup options are generally cloud or external storage services. Both of these methods have their pros and cons. For example, cloud services give you instant access to information wherever you are, but they require regular subscription payments.
At the same time, external hard drives are reliable storages which only require one payment, but access to information on these devices is only possible when they are at hand.
Therefore, cloud storage is regarded as the perfect option for storing files and photos which should always be available in a few clicks, while external storage services are suitable for data archives and huge files, such as movies or videos which you rarely use. Overall statistics show that nowadays most people choose cloud technology as their main storage option.
Specific data such as passwords, ID or financial details require even more secure storage methods.
Among the potential solutions password manager is an option that protects sensitive personal information, prevents its loss and provides immediate access to it at any time. Automatic filling of authentication and banking data means users do not have to memorise important information and reliably protects data from being compromised.
While choosing backup and storage options it’s highly recommended to consider all the aspects. To get backing up into a real habit, the method should not only be reliable and effective, but also suitable and convenient for you personally.
Enhanced protection
As it has been already mentioned, single manual backup might not be enough to protect data from being lost. World Backup Day is the right time to remember that data might be vulnerable and take some proactive steps to secure it. Kaspersky has created some tips on how to do it effectively:
- Follow the rule 3-2-1. One of the most popular backup strategies is to have at least 3 copies of important data, store it on 2 different storage types, and make at least 1 copy off-side (cloud or external physical location).
- Set up automatic backups. Most devices and services have a preinstalled backup function, which automatically creates a backup if you forget to make a copy in time.
- Use a reliable security solution. Comprehensive digital protection with a specific anti-ransomware protection mechanism, such as in Kaspersky Premium, prevents device infection and protects your data from both local and remote-access ransomware attacks.
- Make regular checks. It’s necessary to test your backups workability on a regular basis to notice the malfunction in time and fix it.
Dr. Olubunmi Tunji-Ojo, minister of Interior, has announced the launch of an Online Visa Approval Center to eliminate bureaucratic bottlenecks and reduce corruption in the visa application process.
Commissioned by the President in December, the new system ensures that applicants no longer need to visit a visa office, know anyone in the system, or lobby for approvals.
At a stakeholders’ sensitisation workshop on the implementation of the Nigeria Visa Policy (NVP) 2025, yesterday in Abuja, Dr. Tunji-Ojo said the visa is considered a very important document by the government because it is an instrument of migration management and an instrument of economic development.
The minister explained that Nigeria has to strike a delicate balance between national security and, of course, the ease of migration.
“And we think that it’s something that we can do and something we will do.
“We don’t have a physical Visa Approval Center. If you apply for a Nigerian visa anywhere in the world, you do so online. We process it here in Nigeria, and if approved, you receive your e-visa in your email,” he explained.
To enhance efficiency, the government has set a 48-hour deadline for processing e-visas.
“It is unprofessional and unacceptable for the Nigeria Immigration Service not to approve or provide feedback within 48 hours,” the minister stated.
“It breaks my heart that people need to lobby to even get visas to Nigeria. It shouldn’t be so. It shouldn’t be.
“For anybody that is qualified, for anybody that wants to do legitimate activities in Nigeria, such people should be able to come to Nigeria easily. And this is why we are opening our space. Mr. President is interested in foreign direct investments.”
Further, he said Nigeria is interested in partnering with the rest of the world to develop its economy but, “We can’t do that when we allow bottlenecks to hold us down. So these reforms, basically, are aimed at opening our space, enhancing national security, and we hope that the primary responsibilities of the visa scheme will be achieved.”
Kemi Nandap, controller general, Nigeria Immigration Service (NIS), said the NIS would fully digitize its e-visa platform and reduce visa classifications from 79 to 44 to enhance accessibility, transparency, and efficiency in the new visa policy.
She said, “At the core of this policy is the new e-visa platform—a fully digitized, centralized system that revolutionizes how foreign nationals interact with our country’s entry procedures. As part of this transformation, the Nigerian Visa Policy 2024 underwent a comprehensive review, resulting in a significant reduction in visa classifications from 79 to 44.
“These categories have been logically grouped to simplify procedures, reduce complexities, and greatly improve the user experience. Importantly, we have maintained the original purpose and intent of each visa class throughout this reform.”
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