At a recent high-level workshop organized by the Senate Committee on Legislative Compliance which brought together lawmakers, regulators, and leaders from Ministries, Departments, and Agencies (MDAs) to address Nigeria’s persistent challenges in regulatory adherence and governance, stakeholders have highlighted the urgent need for digital innovation to tackle deep-rooted compliance gaps and foster a culture of accountability across public institutions.

The two-day event, which held at the NAF Conference Centre in Abuja, themed “Consolidating Strategies for Strengthening Legislative Compliance by MDAs,” featured leading industry experts from EFCC, NBA, Ministry of Finance and key players in Nigeria’s financial sector, including fintech firms, championed the deployment of digital tools as essential for improving transparency and enforcing legislative resolutions.

In his opening remarks, the Senate President, represented by Senator Osita Izunaso emphasized that compliance is “fundamental to democratic governance, adding that it was not optional,” underscoring the Senate’s renewed commitment to robust enforcement and institutional reform.

Furthermore, he cited the constitutional provisions that granted legislative powers for lawmaking generally and to make laws for “peace, order and good government”. The workshop also highlighted, with a wide array of statistics, the high cost of non-compliance; root causes of non-compliance while attempting to proffer solutions.

Amidst calls for systemic reforms, Okechukwu Eke, General Counsel at Moniepoint Inc., delivered a keynote presentation focused on the responsibilities of fintechs in consumer protection and financial literacy.

Eke highlighted Moniepoint’s commitment to building a compliance culture that goes beyond mere formalities to drive genuine impact. “At Moniepoint, we believe innovation in financial services must go hand-in-hand with strong consumer protection and legal responsibility,” Eke stated.

He stressed the unique position of fintechs, which often serve vulnerable populations with low financial literacy, making robust consumer protection paramount. “Misuse or misunderstanding of products can cause significant financial harm,” Eke noted, adding that “legal compliance builds essential trust in digital financial services.”

The presentation outlined key legal responsibilities for fintechs, including transparency, data privacy, fair marketing, effective grievance handling, and responsible lending.

Other contributions advocated for leveraging technology to embed compliance more effectively. Suggestions arising from the workshop, supported by Moniepoint’s perspective, included empowering legislative oversight committees with real-time monitoring dashboards linked to MDAs and implementing Digital Compliance Tracking Systems.

These tools, it was argued, would allow for continuous monitoring and reporting, moving away from periodic checks towards a more dynamic and effective compliance regime.

The push for digital solutions aligns with Moniepoint’s drive to ensure that the rapid innovation characteristic of the fintech sector is matched by equally advanced methods for ensuring regulatory adherence and protecting consumers.

The call for enhanced digital oversight complements other recommendations from the workshop, such as regular reviews of legal frameworks to match innovation and strengthened collaboration between regulators like the CBN, FCCPC, NDPC, EFCC, and the National Assembly.

The workshop concluded with a reinforced commitment from legislative leaders, including Committee Chairman, Senator Garba M. Maidoki and Vice-Chairman, Senator Ede Dafinone, to pursue collaborative and innovative solutions for Nigeria’s compliance challenges.

They both averred that leveraging technology and cross-sector collaboration is vital for closing compliance gaps, enhancing oversight, and ensuring that resolutions passed by the National Assembly are fully implemented for the benefit of all Nigerians.

Lagos State Signage and Advertisement Agency (LASAA) has broadened its corporate social responsibility (CSR) efforts with the second phase of its “Back to School Storm” initiative, reaching four public primary schools in the Ikorodu area of Lagos State.

L-R: Head of Operations and Innovation, Lagos State Signage and Advertisement Agency (LASAA), Mr Adegbolahan Dixon; Head Teacher, Anglican Primary School, Igbogbo, Ikorodu, Ms Akeredolu Kehinde; Hon. Gbolahan Ogunleye representing Ikorodu 1 House of Assembly (Chairman SDG and Overseas Investment); MD/CEO, LASAA, Prince Fatiu Akiolu; Chairman Omo Daada Foundation, Hon. Omoniyi Dada; and Head, Corporate Communications and Strategy, LASAA, Mrs. Atinuke da-Silva-Osadjere at the presentation of bags and writing materials in Anglican Primary School, Igbogbo, Ikorodu, Lagos recently.

The Agency visited Methodist Primary School, Igbogbo; Anglican Primary School, Igbogbo; Etunrenren Primary School; and Muslim Primary School, Ikorodu distributing essential school supplies to pupils. The donated items included environmentally-conscious school bags crafted from repurposed advertising banners, alongside exercise books and writing materials.

The initiative underscores LASAA’s commitment to both educational advancement and environmental sustainability, a vision championed by its Managing Director, Prince Fatiu Akiolu. The programme aligns with Governor Babajide Sanwo-Olu’s T.H.E.M.E.S Plus agenda, which prioritises education and social development across the State.

Key LASAA management figures, including the Director of Administration and Human Resource, Mr Gbolahan Oloko; Head of Operations and Innovation, Mr Adegbolahan Dixon; Head of Corporate Communications and Strategy, Mrs. Atinuke da-Silva-Osadjere; and the Head of Legal Department, Mrs. Titilope Raheem were present at the outreach.

The CSR initiative is a collaborative effort with the Omo Daada Foundation, led by Honourable Omoniyi Dada, who also participated in the distribution events. Dufil Prima Foods, a key sponsor, actively contributed by providing additional school items and nutritious lunches for the pupils at each school, adding a significant humanitarian aspect to the programme.

Reaffirming LASAA’s long-term commitment, Prince Fatiu Akiolu pledged to extend the initiative to more public schools across Lagos, aiming to cultivate academic excellence and empower future leaders.

Honourable Sesan Daini, Chairman of Igbogbo Bayeku Local Council Development Area, expressed his profound gratitude for LASAA’s benevolence and encouraged sustained support for the children.

Further bolstering the initiative, Honourable Gbolahan Ogunleye, Member of the Lagos State House of Assembly representing Ikorodu I and Chairman of the House Committee on Sustainable Development Goals and Overseas Investment donated table tennis equipment to promote sports and extracurricular activities. He emphasized the importance of holistic education, encouraging school administrators to prioritise activities that foster the physical, emotional, and intellectual development of pupils.

Through initiatives such as the “Back to School Storm,” LASAA continues to demonstrate its dedication to social responsibility, youth empowerment, and the advancement of education within Lagos State.

This year’s Africa’s Beacon of ICT Merit and Leadership lecture will focus on Governance, Standardization and cybersecurity in artificial intelligence era.

The lecture which will herald Africa’s Beacon of ICT Merit and Leadership Awards (ABoICT Lecture 2025) hold on May 24, 2025 at Four Points by Sheraton and will be delivered by Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode – Cybersecurity and GRC Expert.

The sixteenth edition of the award ceremony according Ken Nwogbo, editor-in-chief of Nigeria CommunicationsWeek the organizers of the event, “is a special edition to recognise and celebrate organizations and individuals in the ICT industry that have contributed to the growth of the sector.

“Most of these organizations and individuals have consistently being voted by our readers as leaders in their areas of operations and we have decided to reward them in this special edition, tag: ‘ICT Growth Edition 2025’ he said,”.

He added that, an AI governance framework outlines policies, principles, and practices to guide the ethical and responsible development and deployment of AI technologies, ensuring transparency, accountability, and fairness.

“In the AI era, cybersecurity faces both new threats and opportunities, as AI’s capabilities are used by both defenders and attackers to launch sophisticated attacks and defenses.

“This requires a proactive approach, including AI-powered security tools, robust data security, and ethical AI development, emphasizing real-time monitoring, threat intelligence, and collaboration among cybersecurity professionals and AI researchers.

“Artificial intelligence transforms cybersecurity by automating responses to risks, detecting unusual activity, and even foreseeing possible dangers before they occur.

“While AI has various perks, such as better efficiency and faster risk identification, it also has challenges. Without proper oversight, these systems can be misused or make errors. Strong governance and ethical frameworks ensure AI technologies are used responsibly and effectively.,” he said.

The Africa’s Beacon of ICT Merit and Leadership Distinguished (ABoICT Lecture 2024) is designed to explore efforts to put Nigeria on the global Information and Communications Technologies map.

The lecture series however is reserved for distinguished achievers in the ICT sector.

Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Oluseyi Akindeinde, founder, Hyperspace & NeuraL AI and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; among others.