News
IIM-Africa Seeks Proper Data and Information Management
The Institute of Information Management (IIM) Africa has called for cautious efforts to infuse the culture of effective data and information management into the public and private sectors in Nigeria as means to drive digital economy.
Thus, the Institute said there is urgent need for government at all levels to initiate policies and measures to ensure proper management of information and data in the country.
Dr Oyedokun Oyewole, president/chairman Governing Council of IIM-Africa, made these remarks during a press conference to announce plans for the Institute’s annual conference, induction and investiture scheduled to hold on March 14, 2020 at the Univerity of Lagos main auditorium, Akoka, Lagos.
The US Consular-General, US Consulate, Lagos, Claire Pierangelo will deliver the keynote address.
Dr. Oyewole said that the Conference theme: “Effective Data and Information Management: Key to Success in Digital Economy”, was carefully selected to set the parameters for data/information management, usage, creating processes for resolving data/information issues aimed at enabling regulatory bodies and other stakeholders make decisions based on high-quality data and well-managed information assets in the digital economy era.
According to the President/Chairman, the Body will also leverage the Conference period to highlight the various information gaps, information management needs, and also proffer required framework for effective data/information governance in regulatory agencies across the Country.
Several speakers and activities have been lined up for the day’s programe which will also pin-point the vital role which information management services play for developing economies like Nigeria.
However, to develop and propagate these transformational powers of technology, the Institute of Information Management (IIM-Africa) believes that the primary requirements are skilled manpower, legislations, standards, and government support.
On the induction and investiture, Dr. Oyewole described IIM-Africa as an exceptional international professional institute developed to promote the highest standards of excellence, integrity, competence, and research in Information Management.
“The Institute, with Chapters in Ghana, South Africa, Australia, United Kingdom, United States of America and Canada, is an embodiment of everything that is good and principled about professionalism in data, information, records, document, archives, and content management education, and capacity development”, he said.
He added that the Institute was established to assist organizations and government in Africa to be globally competitive, leveraging on quality data and information for better decision making, lower cost of operations, prevention & mitigation of exposure to information risks, promotion of quality and timely service delivery, effective monitoring and evaluation of business processes, increase control over access to information, enable information governance and so on.
In his words: “The pace of change and the challenges of the digital economy era implies we’re not only seeing new opportunities but are also facing new risks. Strong leadership, governance, and professionalism in data, information, records, document and knowledge management will be key, both to seizing opportunities and meeting the challenges ahead.
He said that by improving professionalism in this essential field, as required in functions such as healthcare, finance, administration, engineering, construction, project management, procurement, IT, communications and so on, the inductees have been trained to assist their various organisations to seize these emerging opportunities, and meet the evolving challenges of managing information in this rising knowledge, artificial intelligence, machine learning and information age, they would need to begin to see data and information as strategic corporate assets.
The President/Chairman, Governing Council of IIM, said that it is their desire to develop and propagate the industry here in Africa and across the globe.
On her part, Bilikis Abidogun (Mrs), head of Business Development at IIM-Africa said that the conference offers opportunity for second edition of IIM-Africa Business Connect Exhibition where advertisers and members on the IIM Africa take advantage of the event to showcase their business, products and services.
“This is a wonderful opportunity to showcase and promote your brands/products/services and increase your clientele from the general public and members of the Institute”, she re-echoed.
National Orientation Agency (NOA) has revealed that an investigation by its Community Orientation and Mobilisation Officers (COMO) uncovered unethical practices by some tertiary institutions, in collaboration with certain banks, that are depriving students of their rightful access to the Federal Government Student Loan Fund.
Paul Odenyi, deputy director of Communications and Media, in a statement Sunday, disclosed that several universities and financial institutions have been found engaging in fraudulent activities that prevent students from receiving the loans allocated to them.
Mallam Lanre Issa-Onilu, director general, NOA, shared these troubling findings following a high-level meeting with Mr. Akintunde Sawyerr, managing director, Nigeria Education Loan Fund (NELFUND), over the weekend.
According to NOA, preliminary reports led to an urgent intervention from NELFUND after it was discovered that some university officials had deliberately withheld critical details about student loan disbursements.
Further feedback from NOA confirmed that certain institutions, in collusion with banks, have intentionally delayed payments to approved applicants for dubious financial gain.
Additionally, some universities do not acknowledge the disbursements made by NELFUND to students.
Sawyerr confirmed that certain institutions have withheld information about loan payments issued in students’ names while still demanding tuition fees from them.
He warned that NELFUND is ready to take legal action against institutions found guilty of engaging in fraudulent practices.
He stated, “Recent findings by NELFUND have shown that some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments in their financial records, leading to unnecessary confusion.
“Withholding critical financial information from students is not only unethical but also a breach of the principles on which NELFUND was founded.
“We are prepared to take legal action against any institution engaged in such deceptive practices.”
The investigation revealed that in some instances, universities continued to demand full tuition payments from students, despite having already received the loan funds intended to cover those fees.
According to the NOA, this constitutes a gross violation of student rights and a betrayal of public trust.
Issa-Onilu, therefore, issued a strong warning to the institutions and collaborating financial institutions, demanding an immediate end to these actions.
He also directed all NOA state directorates to intensify feedback collection from students nationwide to aid the Federal Government in identifying and penalising the erring parties.
The NOA emphasised its commitment to transparency, accountability, and ensuring that students benefit fully from the government’s intervention in education financing.
The statement added that the investigation remains ongoing, and further actions are expected in the coming weeks.
Central Bank of Nigeria (CBN) has announced a remarkable $6.83 billion balance of payments surplus for 2024, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
This achievement reflects the impact of sweeping macroeconomic reforms, stronger trade dynamics, and renewed investor confidence in the nation’s economic direction.
Speaking at the 36th Enugu International Trade Fair, Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, highlighted the CBN’s commitment to addressing economic challenges and fostering productivity, particularly for SMEs.
She emphasized the importance of robust financial systems, foreign exchange stability, and collaboration between monetary and fiscal authorities in achieving industrial development and global recognition.
The President of the Enugu Chamber of Commerce, Sir Odeiga Jideonwo, commended the CBN’s efforts but expressed concerns over the recent hike in interest rates, cautioning that it could hinder access to credit for businesses.
This surplus signals a positive trajectory for Nigeria’s economy, benefiting investors, businesses, and citizens alike.
News
Senate Committee Partners with Kuda Bank to Tackle Compliance Crisis as Nigeria Loses ₦3.4 Trillion
Over ₦3.4 trillion in financial infractions were uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021, according to the Auditor General’s report — a staggering figure that highlights Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions.
In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address the root causes of weak oversight and institutional gaps. The two-day event, with the theme ‘Consolidating Strategies for Strengthening Legislative Compliance by MDAs’, will take place on April 15 and 16, 2025 at NAF Suites, Abuja, bringing together lawmakers, regulators, and over two hundred representatives from federal MDAs.
Kuda Microfinance Bank is co-sponsoring the workshop as part of its commitment to supporting responsible innovation, governance, and regulatory alignment in Nigeria’s financial ecosystem.
Rasaq Kadri, Kuda’s Head of Compliance, will deliver a keynote address on the second day of the event, highlighting the efforts of Nigeria’s fintechs to promote inclusion and financial literacy without compromising on compliance best practices.
“When public funds go unaccounted for, it doesn’t just damage government credibility, it affects the entire financial ecosystem, including fintechs,” said Kadri. “We can’t build trust-driven products in a trust-deficient environment. Every time compliance is treated as a box-ticking exercise, we miss the chance to build something that lasts. Fintechs have the tools and perspective to support better governance, but more importantly, we have a responsibility to be part of the solution.”
As a sponsor, Kuda will take the workshop to engage directly with key stakeholders in Nigeria’s regulatory and public service ecosystem.
Plenary sessions will be chaired by the Honourable Attorney General of the Federation, Lateef Fagbemi SAN, and the Honourable Minister of Finance, Wale Edun. Conversations will focus on closing compliance gaps, strengthening institutional transparency, and promoting cross-sector collaboration.
The Senate Committee on Legislative Compliance Workshop is a unique platform for dialogue, knowledge-sharing, and collaborative action.
KONFAM 89.5 FM Hits Airwaves in Lagos Tomorrow
CBN Pumps in Additional $150m into Forex Market to Safeguard Naira
Sanwo-Olu, Others Grace Launch of 50-Bed Hospital in Surulere by Avon Medical
GenCos Threaten Nationwide Blackout over N4 Trillion Debt
SERAP Calls for Withdrawal of Nigeria’s Data Act Amendment
E-Business1 day agoNITDA Warns Against Fake Google Play Store
News1 day agoNOA Uncovers Fraud by Banks, Universities in Students Loan Scheme
E-Financial1 day agoAfrica Loses $88.6Bn Yearly to Corruption- ECOWAS
General News1 day agoLagos Commences Integration of NIN with State Single Social Register
E-Financial1 day agoUBA Redefines Banking with Next-Gen PoS Terminals and Revamped MONI App
E-Financial1 day agoNIBSS Heads to Court to Recover N4Bn Lost due to System Glitch
E-Financial1 day agoSEC Bans Unregistered Digital Asset Exchanges, Online Forex Platforms
General News1 day agoNigeria Records $6.83Bn Balance of Payments Surplus in 2024 Amid Economic Reforms