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E-Business

Inuwa, DG NITDA says Fintech has Helped Move Many Nigerians Out of Poverty

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Kashifu Inuwa CCIE, the Director-General of NITDA, emphasized the fact that Nigeria is doing pretty well in the Fintech industry and Environmental, Social, and Governance (ESG) especially with the application of developmental regulation approach and enabling policies toward co-creating the tech ecosystem.

Inuwa said this at the Digital Finance Summit, a sideline event of the ongoing GITEX 2022.

While noting that 2021 was a record year for tech startups in Nigeria as more than 35 percent of direct investments to Africa came to Nigeria, the Director-General added that the achievement was not by publicity but by structural design.

“In 2019, the President re-designated and expanded our ministry to cover digital economy and the Honorable Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami formulated the National Digital Economy Policy and Strategy for a digital Nigeria; so, that set the stage for the tech ecosystem in Nigeria”, Inuwa noted.

According to Inuwa, “the FinTech has helped move so many people out of poverty. Between 2017 to 2019, we have seen in Nigeria where farmers access money from the government and also, during the COVID-19, a lot of people could not access the released funds and when you deliver it using cash, it costs much”.

“The start-ups are doing fantastically well, but also the government needs to level the playing field for them to plan better”, the DG remarked.

He went further to stress that  government needs to work with the United Nations, World Bank ,and others to see how they can help build the infrastructures for the Fintech in order to reach the unreachable to be connected.

More so, the NITDA Boss told the audience that the Start-up Bill which has been passed by the National Assembly and awaiting Presidential assent will address almost, if not all the challenges plaguing the tech ecosystem.

Responding to questions regarding Nigeria’s efforts to entrench the Environmental, Social and Governance ESG, Inuwa explained that the Federal Government has been working assiduously towards creating a conducive environment for startups to thrive, as the Ministry of Communications and Digital Economy formulated several policies to help drive the digital economy.

“The policies are Startups ecosystem friendly”, when we talk about digital economy, we need three keys to drive it which include Digital Identity, Payment System, and Connectivity”

“We have other policies is tailored towards the bigger picture, like the National Broadband Plan, Digital Identity Policy, and the National Financial Policy which drives the financial inclusion in the country”, Inuwa maintained.

He avowed that the Agency’s developmental regulation is to safeguard the providers as much as consumers.

“Without the enabling environment, the ESG alone can not help them because the ESG sometimes, we see it as self-centric because as a provider when you come up with any self regulation or ESG, you do it in a way that would enable you to excel”

“The government looks at technology beyond seeing just a capitalist or a consumer, we work with the ecosystem in a way that gives them opportunity to develop new indigenous solutions that have global impact.”, the DG added.


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NIMC Denies Blocking Police Commission from Verification Server

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National Identity Management Commission (NIMC) has clarified that all its verification service platforms remain fully functional and accessible to all authorized partners, including security agencies.

NIMC Denies Blocking Police Commission from Verification Server

Abisoye Coker-Odusote, DG, NIMC

In a statement on Thursday, the Commission firmly denied claims that it had denied the Police Service Commission (PSC) access to its verification server.

Dr. Kayode Adegoke, head of Corporate Communications, NIMC, described the reported “inability of the Police Service Commission to access the NIMC verification server” as misleading and inaccurate.

He suggested that any challenges faced by the PSC may be due to internal issues within the commission itself, not from NIMC’s end.

The statement reads: “To set the record straight, the NIMC granted verification access to all Nigerian Police formations for the verification of the National Identification Number (NIN). The NPF, PSC and other security agencies have been enjoying uninterrupted verification services for over five years.

“NIMC has provided top-notch verification services for recruitment into the Nigeria Police Force, as conducted by the PSC and at no time have there been any complaints or issues regarding NIN Verification by the NPF or PSC.

“The Commission has a robust and harmonious working relationship with the Nigerian Police Force and the Police Service Commission. The Information Communications and Technology (ICT) department of the Nigeria Police Force is actively managing the long-standing verification and integration service between the NIMC and all Nigeria Police formations.Entertainment tourism packages

“NIMC will continue to provide flawless verification services for the purpose of recruitment, security mapping, cybercrime control, and any other security matters.

“The framework by which NIMC provides services to the security agencies was recently restructured for standardization and effective implementation, following consultation with the Office of the National Security Adviser, and NPF has confirmed the verification services have continued to be available. We therefore believe that any service interruption experienced by PSC may be due to internal matters.

“NIMC is committed to providing excellent verification services to the PSC, NPF and all its partners but the terms and conditions inherent must be adhered to for uninterrupted flow of service.”


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Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

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Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.

This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.

Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.

According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”

Similarly, Kashifu Abdullahi, director-general, NITDA,  also stressed the need for collaborative efforts in fighting cybercrimes.

According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.

“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.

“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”

Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.

He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.

The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.

The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.


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AXIAN Telecom Invests in Jumia Post-MTN Era

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XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.

This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.

AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.

“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.

Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.

But years of underperformance, leadership changes, and competitive pressures dented investor confidence.

In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.

Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.

The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.

Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.

Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.

The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.

 


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