Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

E-Business

Global Economy in Whirl Of Mixed Data

Published

on

Kindly share this post

Apart from the global economy shifting back and forth, ForexTime said the process is bedeviled by a whirl of mixed data.

According to the report, a mix of sentiments emerged from the US last week, as both positive and negative data came through to reflect a somewhat muddled image of what is happening in the US right presently.

Unhindered by the high mortgage rates, existing home sales shot up  by 6.5% to reach 5.39M; a figure substantially higher than the predicted 5.15M.

Meanwhile, the housing data has been the most encouraging since 2009 and was reported as evidence of just how important to the health of the economy the housing sector is.

To dampen US spirits however, new home sales were not quite in line with existing home sales, falling to 497K and then further revised to 455K on August 23rd, raising question marks about the recovery of the housing sector.

Further discouraging were the jobless claims released on August 22nd ,which at 336K were a rise above the predicted 329K and a far move away from the 5 and a half year low of 320K recorded on August 15th.

“Wednesday, August 21st, saw a release of the Federal Reserve’s July Meeting Minutes, where most policymakers were in favor of Ben Bernanke’s plan to start gradually reducing bond-buying until finally putting an end to it in 2014. This week, the US is holding its breath for a number of key indicators such as core curable goods orders, out on the 26th and predicted at 0.6%, and CB consumer confidence, out on the 27th and expected at 79.6.

“Mixed data was also seen on the European front, where the disappointing French Flash Manufacturing PMI served as a contrast to the pleasing German counterpart. French Flash PMI failed to meet expectations, coming through at an unchanged 49.7 instead of reaching the hoped for 50.4. In juxtaposition, the German Flash PMI exceeded expectations by rising to 52.0 from July’s 50.7 and beating predictions of an expansion to 51.1,” the report read.

ForexTime also said that the final German GDP released on August 23rd rose by 0.7% as predicted; a two year high and a definite indication of the gulf between Germany and the rest of the eurozone.

Whilst other European countries cower in the shadow of austerity, Germany seems to be making its way to the light.

This week too, all eyes are on Germany as Europe awaits the Ifo Business Climate Index to rise to 107.01 from 106.2 and the unemployment levels to drop from 7K to 5K.

“Things were looking gloomy in the world’s third largest economy last week, with the Japanese trade deficit coming in at -0.94T on August 19th, much higher than the forecast -0.73T and practically double the figure recorded in 2012. Shinzo Abe’s policy of devaluing the yen to boost exports may be wise for achieving certain goals but has come with a huge consequence too.

“Nonetheless, Japan seems to be staying true to its aggressive policies and intends on ploughing its way through these difficult times by focusing on the country’s exports despite other drawbacks. Data out this week includes Japan’s National CPI on August 30th, anticipated to rise by 0.6%; if predictions are fulfilled it will mark the second consecutive yearly rise in National CPI for Japan.

“In the United Kingdom, the economy is continuing its recent bout of progress, with the second estimate of the UK GDP released on August 23rd and up by 0.7%, spurred on by positive services and manufacturing data, higher exports and imports and a rise in consumer spending. Of utmost importance this week in the UK will be Bank of England Governor Carney’s speech on August 28th, where he is expected to persist in keeping interest rates low for as long as possible,” it contained.


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

E-Business

NIMC Plans to Register 95 Percent Nigerians by December

Published

on

Kindly share this post

Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote,, DG, NIMC

She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.

The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.

As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.


Kindly share this post
Continue Reading

E-Business

Farmers to Get Identity Card for Loans, Inputs

Published

on

Kindly share this post

The federal government, in collaboration with the International Fund for Agricultural Development (IFAD), is building a digital registrar that will identify farmers, their farmlands, type of soil and the crops they grow for targeted services.

Farmers to Get Identity Card for Loans, Inputs

The information and the National Identification Number (NIN) will be integrated into a multipurpose identity card that farmers can use to access financial services, inputs and other forms of government assistance.

The digitisation is expected to harmonise farmers’ data across all the 36 states and the Federal Capital Territory.

Speaking at the national launch of the Policy Dialogue Initiative on the National Digital Farmers Registry (NDFR) recently in Abuja, Dr Marcus Ogunbiyi, permanent secretary, Federal Ministry of Agriculture and Food Security (FMAFS), said the new system would address the issue of portfolio farmers, whom he described as “farmers who have no farm.”

“We are going to register farmers and their farms. Not only that, farmers and the type of crop they grow, farmers and the locality they are, the type of soil they have on their farms. There is no farm that will not have a farmer. But there are many farmers who do not have farms.  This is an encompassing package.

“When we register these farmers, we are going to provide a physical and digital card for them. With the card, many things can be done by the farmers. It can be used as a means of identification, an asset to some gateway – just anything.  It is going to have a handshake with the database of the country, such that with that particular card, the farmer can enter any place and get things done. He or she can redeem inputs and even get a loan, depending on the financial entity,” Ogunbiyi explained.

He said that to accomplish this, the Federal Ministry of Agriculture and Food Security has taken decisive steps to transform their approach to farmer data management, adding, “Chief among these is our strategic partnership with the National Identity Management Commission (NIMC) to implement a far-reaching farmer registration and database project.  At the heart of this initiative is the integration of the NIN, which ensures that every Nigerian farmer is uniquely identified and seamlessly integrated into a national agricultural system.”

Mrs Dede Ahoefa Ekoue, country director/representative of the IFAD in Nigeria, said the United Nations (UN) organisation was proud to be part of the initiative on the National Digital Farmer Registry in Nigeria.

“Our role is to convene all the partners, development partners from the public sector, private sector and the international community to put our resources together to support the effort of the government in establishing and enabling a digital farmer registry for the country,” she said.

Mrs Ekoue said that although there were previous efforts to have a national database of farmers, it had the issues of fragmentation and sustainability.

“The government is now providing us with a sense of direction and matching orders to all the actors to work together. This is what we are doing today with several partners, including the African Development Bank, FAO, the World Bank, the EU, the Islamic Development Bank and UK. Also, what is very key is farmers’ organisations because it is about them, it is for them, it must be with them,” she added.

The country director said the IFAD was happy to bring together the private sector and different ministries, departments and agencies, adding, “It will be a game changer for having a strong, updated and sustainable national digital farmer registry.”

Dr Lekan Tobe, the country director of Heifer International in Nigeria, in his remarks at the official launch of the Policy Dialogue Initiative on the National Digital Farmer Registry, emphasised the critical role of partnership and data in transforming Nigeria’s agricultural sector.

He said that this initiative, born from recommendations of previous policy dialogues organised in collaboration with the federal government, aimed to scale up innovative digital technology to enhance food systems across the country.

 

 


Kindly share this post
Continue Reading

E-Business

Dyna.Ai Launches Operations in Nigeria

Published

on

Kindly share this post

Dyna.Ai, a global leader in AI-as-a-Service (AIaaS), has launched its operations in Nigeria with an exclusive closed-door ‘Nigeria Dyna Day’ event in Lagos, which saw the introduction and orientation of its suite of AI-powered products and solutions to Nigeria’s emerging financial ecosystem.

Dyna.Ai Launches Operations in Nigeria

The event, tagged ‘Nigeria Dyna Day’ and themed “AI Unleashed: Revolutionising Nigeria’s Financial Future,” brought together leading voices from the country’s AI, financial, fintech, telecom, and other key sectors, including representatives from government agencies and major enterprises.

In his opening remarks, Tomas Skoumal, chairman and co-president of Dyna.Ai,  emphasized the strategic importance of Nigeria and the broader African market, stating, “For us, it makes sense to start in Nigeria.

There is no bigger country in Africa—this is where the momentum is.” He noted that Africa is no longer just “the future,” but is actively transforming today, driven by rapid digitalization and fintech innovation.

“This is the perfect time to be here,” he added, highlighting that Dyna.Ai sees technology as a vital bridge to financial inclusion and long-term growth across the region.

Skoumal introduced Dyna.Ai’s advanced Agentic AI solutions, including its proprietary Agent Studio and industry-specific language models, designed to power intelligent automation across customer service, marketing, collections, HR and more.

He also underscored the company’s long-term ambition to invest in local talent, stating, “We’re not just here to sell a product—we’re here to build infrastructure, create local jobs, and scale innovation from Nigeria to the rest of Africa.”

Dyna.Ai also showcased its advanced AI technologies at the event, including AvatarGPT, an AI digital human delivering interactive experiences; VoiceGPT, a voice agent featuring authentic local accents for seamless communication in Yoruba, Hausa, and Igbo; along with live demonstrations showing how these innovations empower customer engagement and employee experience.

Delivering the keynote address at the event, Tokoni Peter Igoin, Special Assistant to the President on ICT Development and Digital Innovation, underscored the Federal Government’s vision for a secure and forward-thinking digital ecosystem.

“The government of the Federal Republic of Nigeria, under the visionary leadership of His Excellency, President Bola Ahmed Tinubu, is fully committed to responsible innovation. Our approach to AI and financial technology is rooted in a positive framework. It encourages creativity while ensuring transparency, data protection, and digital security”, he said

Also in his remarks, Olatunbosun Alake, Lagos State Commissioner of Innovation, Science and Technology,  gave insights from the government/regulatory perspective.

He announced that the Lagos State government is also taking steps towards the wide adoption and regulation of artificial intelligence in the state with the planned release of the first AI guidelines for the deployment and management of AI in the coming weeks.

 

 

 


Kindly share this post
Continue Reading

Trending