E-Financial
First Bank Lauds OAU’s ‘Vigitab’ e-Learning Model
First Bank said it believes teaching and learning conducted through electronic media, such as laptops, tablet devices and mobile phones, typically via the internet is gradually gaining inroads into Nigeria’s tertiary institutions with improved technology, a development which worth huge investment and necessary to boost the country’s system of education.
For instance, the Centre for Distance Learning, Obafemi Awolowo University (OAU) recently partnered with EduTech Software Solution, an indigenous education software technology company, and Huwaei also ICT solution provider- on solutions that will increase its student base drastically and give 50,000 people annually the opportunity to receive certified undergraduate and postgraduate degrees from the university.
This pact gave birth to “Vigitab” a customized tablet device with eLearning management solution that allows students to receive lectures, upload and download assignments, relate with peers and lecturers, participate in group discussions and have access to endless books online anywhere they are in the country using the device.
According to the some financial and education stakeholders at the official presentation of device in Lagos, the millions of dollars that might be invested into the project is worth it acknowledging that leveraging on ICT latest innovations with broadband internet will drive development and growth in education in Nigeria.
Bisi Onasanya, chief executive officer, First Bank Nigeria, though represented, believes that “e-commerce evolution in Nigeria is a reality and it is equally noteworthy to know that the educational system in the country is also leveraging on technology solution to combat challenging to get access to university education. So I think invest on the project is worth it and the solution will be impacting.”
Speaking earlier, Prof. Bamitale Omole, vice chancellor of OAU, said that “The Nigerian Universities Commission (NUC) has approved its eLearning study program for some selected degree courses which contents can be streamed live over broadband internet or recorded for later online or offline access using the Vigitab introduced into the distance learning program”.
According to the Vice Chancellor, each student will be required to acquire the customized tablet from which their course materials are handed over to them. Their lectures will be received both in online and offline mode.
Prof Essor Omole who was optimistic that by 2015 more degrees and some M.Sc study programes will also be approved for eLearning scheme, a digital recording studio was built so that lecturers could conveniently record their lecture which was uploaded on the devices.
He explained that “The tablet was designed such that it can automatically connect to the school’s Centre for Distance Learning e-learning portal to download lectures and update student status based on level of classes attended, forums and assignments.”
“The mission of OAU online and the ‘Vigitab’ solution is to develop and provide through emerging network technologies, responsive and quality distance leaning opportunities that meet diverse local, national and global needs,” he said.
Prof Omole further noted that “The eLearning program is guided by the NUC’s policies within the frame work of the university general regulations governing admission for higher education, saying that” he explained.
According to Professor Olabode Asubiojo, OAU director, Centre for Distance Learning (OAUCDL) students on this platform will be taught by the same lecturers teaching the on-campus students and that all admission processes are online.
Olabode who spell out that “B.Sc degree programs for Accounting, Economics Education, Social Studies Education and Nursing was approved” said practical sessions and examinations will be taking on campus.
He reiterated that “The same core lecturers and Professors teaching in the traditional environment have provided their courses content and lectures in form of videos for the eLearning environment.
On her part, Professor Abiola Awosika, general manager, Edutech Business Solution, explained that the device was built to suit Nigerian environment saying that will help to overcome the twin problems of internet access and power supply.
She said “The tablet battery has a nine-hour capacity thus minimizing the problem of power outages. Connectivity will not be an issue for the student as the Tablet comes with its own network for which the subscription is renewed with every session’s registration.
“The classes are designed in such a way that the bandwidth needed is not too large and does not take too much time for it to be downloaded unto computers and other devices. Lectures (notes and video) and assignments downloaded can be viewed offline at student’s own time, and assignments submitted as requested by instructors”.
Central Bank of Nigeria (CBN) has issued a fresh advisory warning the public about the persistent activities of fraudsters peddling fictitious contracts, loans, grants and intervention funds under the guise of affiliation with the apex bank.
This is aimed at protecting Nigerians from financial fraud.
The advisory, signed by Mrs Hakama Sidi-Ali, acting director, Corporate Communications, noted that despite an earlier advisory issued on November 18, 2024, these criminal elements continue to exploit unsuspecting individuals with fake offers falsely attributed to the CBN.
The apex bank has once again disclaimed any association with such claims, describing them as entirely fraudulent and misleading.
“The Central Bank of Nigeria has not authorised, licensed, or appointed any individual, group, or organisation to act on its behalf in offering contracts or financial benefits to the public,” the statement clarified.
According to the CBN, it does not engage in unsolicited communications, via emails, phone calls, SMS, WhatsApp or any social media platforms, to award contracts or disburse funds. It also stressed that the bank does not request payments or fees in exchange for any financial service or opportunity.
The apex bank urged the public to remain vigilant and to immediately report any suspicious approaches to law enforcement agencies or the nearest CBN branch.
“The Central Bank remains committed to safeguarding the financial interests of the Nigerian public and continues to work closely with security agencies to investigate and curb fraudulent activities,” the statement added.
This advisory, the CBN spokesperson noted, comes as part of the regulator’s wider mandate to ensure transparency, financial integrity and public trust in Nigeria’s financial system.
Securities and Exchange Commission (SEC) has ramped up its fight against Ponzi schemes in Nigeria, vowing to take decisive action against illegal fund operators while educating the public to prevent further victimisation.
At an awareness campaign held in Abuja, the SEC emphasized its commitment to saturating public spaces with information about illegal investment schemes before enforcing the law on perpetrators.
Speaking at the event, Ms Frana Chukwuogor, executive commissioner Legal and Enforcement, Securities and Exchange Commission, warned of the dangers of patronising illegal fund operators known as Ponzi schemes.
She said that the Commission deemed it crucial to sensitize traders, empowering them to make informed decisions when approached with investment requests.
She explained that the campaign is a proactive step to combat the surge in fraudulent investment schemes in Nigeria, aligning with the Commission’s broader strategy to educate the public about Ponzi scheme risks and unregistered investment platforms before enforcing regulatory action.
“Our approach is simple but firm. We are not just a regulator that barks and does not bite. We believe in engaging, enlightening, and empowering the Nigerian people before enforcing the law. We will sensitize before barking and biting,” she stated.
She explained that too many Nigerians, especially those at the grassroots, fall victim to Ponzi schemes due to lack of information or false promises of quick, unrealistic returns, emphasizing that many of these schemes are not registered or regulated by the SEC, making them dangerous and illegal.
“We have seen people lose their life savings, their businesses, and their peace of mind.
That is why we are taking this message to the markets, motor parks, online platforms, anywhere Nigerians are making financial decisions. Prevention through education is our first line of defense,” she added.
Mr Abdusalam Khalid, head of Enforcement Department, Securities and Exchange Commission, warned that while education is the first step, it will not hesitate to prosecute illegal operators who refuse to cease their fraudulent activities
He urged the public to verify all investment opportunities through official channels and report suspicious activities through the SEC helpline.
Some bank users in Abuja have declared they will opt for electronic mail alerts from their banks to cut costs and reduce charges on their accounts.
Some of them who spoke to the News Agency of Nigeria (NAN) on Sunday said they would deactivate the Short Message Services transaction alert linked to their accounts.
Mrs Dorathy Azinge, a customer of GTCO, described the increase in SMS charges as exploitative.
Azinge said that in spite of various transaction charges debited from her bank account on a daily basis, the bank still increased SMS charges.
”This move of increasing SMS charges is very exploitative even though they cited telecommunication charge.
”What about all the numerous unwarranted debits that I get from my account, and they are using telecommunication increase as yardstick to increase theirs.
”GT will remove different charges from my account until they give me minus balance,” she said.
Another customer, Ms Elizabeth Abu, said she would visit her bank to opt for her transaction alerts to be sent to only her e-mail address.
Abu who complained about the reduction in her capitalised interest on her account, said the numerous debits were becoming frustrating.
” It does not make sense for the bank to charge me for a transaction I did and also charge me for the alert they sent.
” It means that customers are the ones paying heavily for all these services.
” These charges are reflecting on the profits declared by these banks, and we are the ones paying for this,” she said.
Mr Clement Arubu, a customer with First HoldCo Plc, said he received various transaction debit alerts from his bank totalling N1, 050 monthly.
Arubu said the debits were huge, especially when calculated between 10,000 customers of the bank.
” Most customers receive these alerts and neglect them because to them, the money is small but when you debit the same money from about 10,000 customers then, you can be sure that the money is huge,” he said.
Mrs Catherine Itoha,, said a bank had yet to reverse over N20,000 debited from her account through various failed Point of Sale transaction since about 11 months.
Itoha urged some banks and their staff to adopt principles of fair practice in handling their customers.
” Customers are the reason why banks are in existence so, we deserve to be treated fairly.
”GTB debited me in about four different transactions that I did but up till now, they did not reverse any of these monies.
”I visited the bank, filled forms, spoke to their staff personally but still the issue was not resolved since last year.
”If this money did not go to a staff, it means it is part of their profit,” she alleged.
Mrs Esther Arthur, a Fidelity Bank customer alleged that some of the banks were making profits from charges on customers for their transactions.
Arthur described the situation as sad and frustrating, recounting,”I withdrew N10,000 from a First Bank Automated Teller Machine and the machine showed me that I will be charged N100 because it wasn’t my bank.
”When I finished the transaction, to my greatest surprise an alert came into my phone and when I checked it, it was an alert of N630.00 against the N100 on-site ATM charges that the Central Bank of Nigeria instituted.
”This is so sad,” she said.
Mr Augustine Ode, a Zenith Bank customer, appealed to the CBN to check excesses of some banks that were allegedly defrauding customers.
The News Agency of Nigeria (NAN) reports that GTCO had informed its customers of the SMS transaction alert fee increase from N4 to N6 per message.
The bank had said that the adjustment was due to a recent increase in telecom rates.
Credit: NAN
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