General News
Loyalty & Innovative Services Keys to e-Payment Adoption – Ogungbade
Tunde Ogungbade is the managing director of Global Accelerex. He spent the first decade of his career in consulting and has worked with global companies like Price WaterCooper, Ernst and Yong and other companies in UK, USA and Nigeria. He spoke to chike onwuegbuchi on issues around CBN e-payment policy as well as value his company is bringing to the e-payment space.
Global Accelerex
Global Accelerex is a company that is a player in the e-payment industry. We focus primarily on solving business problems through our value added services. A lot of things have transpired over the last several years in the e-payment industry in Nigeria but the question that needs to be answered is how do we bring value to the consumers and retailers? Global Accelerex is focused primarily on looking at how industry solutions can be created to bring value to the retailers and consumers so that adoption can be easy, the industry itself can expand and the penetration that everyone is hoping for can be achieved.
Role in the CBN e-Payment Policy
Our role is multifaceted. If you look at that policy, it talks about merchant acquirers, issuers, payment terminals service providers (PTSPs), card distributors and suppliers. There are different people in that ecosystem; we do not play one role, we play multiple roles so we do not identify with a specific role in that regard. However, we have terminals that we market, that we exclusively planned and designed to address the purpose in this market so you can call us a PoS terminal supplier. We also can be classified as a payment terminal application developer because we create value added solutions. You can also call us a PTSP because we focus on the deployment side of PoS. How do you make it operational beyond just dropping the PoS, how does the merchant or the retailer and the consumer get value out of it? We are looking at industry solutions to solving problems. A case in point is retail, how do you create loyalty around that so that the consumer can come back. We are beyond just supplying PoS terminals as a distributor, we are beyond just focusing on deployment side, we are looking at the whole ecosystem and creating value by fixing those different labels in the guidelines.
Solving Business Problems
For example what happens today is that a bank is in partnership with a PTSP and in trying to get people to use the PoS, what do they do? They get the PTSP help with the deployment, they get the software, they do the deployment, drop it off and hope that retailer starts using it and derives value from it. Let’s look at what happens- the value chain. The retailer is thinking, number one- I don’t need this thing, there is a policy that is forcing it on me but I don’t need it. Number two, it is cutting into my margin and at the end of the day I would be paying something to use the system. Number three, the consumer is not really attracted to this thing and it is going to take me a long time to bring value. If you look at the value chain itself there are disincentives across it. What we are saying about solving business problem is that we are looking at creating solutions that thinks about the consumers; thinks about the retailers, thinks about the bank, thinks about the whole needs and infrastructure and how everyone can have a win-win collaboration in that space. How do we do that? We look at something that has been tested and that is loyalty management. How consumers can feel with an incentive not to bring out cash and bring out a card. We are looking at that as we look at the different industries that we deploy PoS terminals to. If you are in a retail shop, we look at what will make you come back to that retail shop, such as having a sales promotion tending towards getting a discount. We are looking at the whole ecosystem.
For the banks, we are saying I’m helping you grow people who will bring float to your account so that you can then operate profitably. Everybody across the chain needs to get value out of it and there are solutions that we have created that specifically addresses that problem and that is what we mean by value added solutions.
How Positioned Are You to Deliver?
We have a business platform and we run it on an infrastructure that is scalable, the scale is what we thought of from the ground to up because we want to ensure that as people come en mass on our platform, it can deliver the service. One of the challenges for PTSPs today is that there is no infrastructure for the support. There is need for retailers to know that there is a phone call away and someone can provide them service quality and assurance.
We are bringing excellence in service delivery on the platform which means we have resources and people that have been trained to deliver the service in a way that tracks things from cradle to grave. We are not just thinking about installing the PoS but what happens throughout the PoS lifecycle, how is it working for this merchant. Customer service experience is important. On the platform side, we deliver value added services so much so that a retailer can hold a platform and know what happens and also what will happen as far as forecasting is concerned. That is what we are talking about.
Challenge of Infrastructure Support
It will affect our service but we are working very closely with Mobile Network Operators (MNOs) in looking at different ways of providing infrastructure support. Technology always goes through the time it was first deployed and the time it starts working. That is happening today in the industry. We are doing some research and development, specifically on the CDMA side to make sure as we are planning our geographic deployments, we are looking at the difference in topology of distribution and coverage of mobile networks services so that, that can be part of our deployment strategy. We know that the challenges are here today but technology will leapfrog it so when the GSM towers can accommodate everybody plus these PoS terminals. The question that needs to be answered at that time would be how am I getting value out of it and we are preparing for that because we will overcome the technology challenges.
Assessment of Cashless Policy
My assessment of it is that the infrastructural challenges are there and can hinder or create a bias in the minds of two key and very relevant voices in this whole thing which are the retailers and the consumers. I think the ongoing awareness can help on one side, the regulators are aware of that and I am sure the CBN, NIBSS and all other players involved are doing everything to educate consumers and the retailers that this is no difference between what is happening with your phone call, it is the same problem. It is a capacity issue and as the industry deals with that or looks for alternate technology that can allow data to access towers separate from voice, technology will be overcome.
There is a better technology the industry should be thinking about which is the economic impact. When you think about the economic impact, there should be some alliances between regulators to try and provide the capital to build the infrastructure so that the industry can thrive. The whole tower arrangement that brings about these problems is a capacity problem. If you are going down the Third Mainland Bridge at 4pm, the problem is capacity but at 2pm, the traffic is not there. How many people are trying to come on at the same time and how do we plan for that? Regulators can think about the benefits of this cashless policy, the liquidity that it creates and the amount of money coming into the banking system as pay back to create an incentive to look at regulators encouraging mobile network operators to invest in expanding capacity to accommodate PoS terminals to function well because on one hand, there is a disincentive on their side because there is no incremental revenue with the small data traffic on their networks.
Products
We have exclusive partnership with a company called XGD, which is one of the top 10 PoS manufacturers in the world. We have partnered exclusively with them, we have inspected their facilities physically, although they have the capacity to meet the Nigerian market demand and their PoS device is one of a kind. We know that it is able to provide three solutions in one. It provides Near Field Computing (NFC), it has the ability to take a scan and also provides biometrics. Why is that important? Another thing that hinders technology is- Is someone going to take my money? Biometrics answer that question. Another thing that can help retailers is the fact that they can also determine prices upfront. That device has all these capacities. Obviously, there is an enhancement but the device itself provides the printing capacity. The possibilities with the application are numerous and we have ability to use the software development kits to create variety of solutions that can address a number of things from the market place.
Transaction Led and Non Transaction Led Services
We understand that sometimes the business problem might not involve a transaction which is what we call business intelligence. We have some segments of clients that we’ve engaged with that have need for intelligence that is not transaction based and we have specific solutions because we bring expertise not just technology. We have expertise in logistics, marketing and we are fusing all those key points together to create value added services to some of our clients that have that need.
If it is payment based, we will address the problem through business intelligence to add value to what they do.
On the other hand, there are some people that need to have a transaction to be able to provide intelligence and we look at that as well. These things are uniquely tailored to clients needs. What we do first is listen to the client. We bring value. We understand the business as far as the industry is concerned. Is it in the manufacturing sector, we have strength in that area. We have people who understand the business language; we have analysts and thought leaders in that area.
e-Payment in Nigeria
It is a journey; it is not a sprint, it is a marathon and we are getting there. The dynamics to win this ecosystem is going to evolve over time but we can start recording some early success. One of the things we believe would happen is rapid adoption like consumers taking on the likes of facebook approach to e-payment. When people go to the bank to get a card we believe that there is going to be value created for them beyond spending cash and that is what is happening. It goes viral like a social media group just as everybody wants to get on facebook. Same thing must happen and how is it going to happen? We the industry must look for innovative ways to attract the retailers, to bring them and say there is something worthy of saving the time to go to the ATM to withdraw cash to give to another person who needs to put it in another person’s account. That can happen electronically. Loyalty and innovative business services would make consumers want to use it. We have started going in that direction and I believe it would happen.
The Senate Wednesday launched a full-scale investigation into the operations of Ponzi schemes in the country. The development followed the catastrophic collapse of the Crypto Bullion Exchange (CBEX), a digital investment platform that allegedly defrauded Nigerians of over N1.3 trillion ($847 million), making it one of the most devastating financial scams in the nation’s history.
The motion, sponsored by Senators Mukhail Adetokunbo Abiru (Lagos East) and Osita Izunaso (Imo West), received overwhelming support from lawmakers during the debate at plenary.
The federal lawmakers unanimously described the proliferation of such schemes as a direct threat to national security, economic stability and public trust in government institutions.
Rising in support of the motion, senators from across the country decried the systemic regulatory failure that allowed CBEX and similar fraudulent platforms to operate unchecked.
They lamented that the fraudulent operators leveraged on technology, social media influence, fake testimonials, and referral commissions to lure millions into financial ruin.
Presenting the lead debate, Senator Abiru detailed how CBEX capitalized on weak oversight by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC) to dupe unsuspecting investors.
He warned that beyond financial losses, such platforms are fueling depression, suicides and the erosion of public confidence in legitimate financial institutions.
“Over N1.3 trillion was lost to CBEX alone. This is not an isolated incident. It is a continuation of a troubling pattern, from MMM in 2016 to MBA Forex in 2020. Nigerians are being robbed, again and again,” Abiru said.
Senator Tahir Monguno (Borno North) called the situation “alarming” and stressed that existing laws must not only be amended but “strengthened” to prevent further exploitation.
He said: “These operators prey on vulnerable and gullible citizens. Some victims have died by suicide. It is time we acted decisively.”
Senator Sadiq Suleiman Umar (Kwara North) emphasized the trust Nigerians place in their government and urged agencies to live up to their mandate.
“People trust that the government will protect them. We must ensure that SEC, CBN, EFCC and others never allow such lapses again,” Umar said.
Senator Solomon Adeola (Ogun West) lamented the regulatory gap in Nigeria’s rapidly evolving fintech space. He warned that many digital platforms operate under the radar.
He said: “It’s not just Ponzi schemes. There are several other unregulated online payment platforms riding on fintech buzzwords. CBN must tell us what rules are in place.”
Senators Abdul Ningi (Bauchi Central) and others urged the National Assembly to utilize its constitutional powers under Sections 88 and 14 of the 1999 Constitution (as amended) to hold regulatory agencies accountable.
“These laws exist, but for too long we’ve failed to enforce them. The people are suffering,” Ningi declared.
Senate President Godswill Akpabio recounted a personal experience from the early 1990s involving a now-defunct Ponzi scheme in Port Harcourt, drawing parallels with today’s CBEX.
Akpabio said: “That scheme collapsed. People lost everything. History is repeating itself, only now on a bigger scale—N1.3 trillion gone. Students, civil servants, even pensioners were affected. This is an emergency.”
He backed calls for nationwide public sensitization and zonal public hearings.
According to the Senate President, “We must educate our people. Many of these victims are not literate in financial matters. If it doesn’t concern you directly, it will affect someone close to you.”
In its resolution, the Senate mandated a joint investigation by its Committees on Capital Market; Banking, Insurance and Other Financial Institutions; Anti-Corruption and Financial Crimes; and ICT & Cybersecurity.
The committees, to be led by that of Banking and Finance, are expected to conduct a comprehensive investigative hearing, including public sessions, and submit their report within four weeks.
The inquiry, according to Akpabio, will focus not only on CBEX but also on the broader Ponzi ecosystem, regulatory lapses and proposals for legislative and administrative reforms.
The Senate also called for immediate steps to educate the public, especially the youth and rural populations on the dangers of fraudulent investment schemes.
As the motion passed unopposed, Senator Akpabio declared: “We cannot sit back while Nigerians are being robbed blind. “We must act to prevent more suicides, restore trust, and reclaim our economy from digital predators.”
General News
UpSkill Universe Launches ‘Skills for Business’ to Empower 10,000 African SMEs, in Collaboration with HP and Google
UpSkill Universe has announced the launch of the Skills for Business programme, a new initiative to help 10,000 small and medium-sized enterprises (SMEs) in Nigeria and South Africa build critical digital and business skills for economic and business growth.
Delivered in collaboration with Google, HP Inc and UpSkill Universe, the programme is designed to equip entrepreneurs with practical tools to thrive in an increasingly digital economy, in addition to having access to a range of courses on the HP LIFE platform.
UpSkill Universe, a leading digital skills training provider, will manage programme delivery and partner engagement. “Entrepreneurs and business owners throughout Africa are already leading change within their communities,” said Gori Yahaya, CEO of UpSkill Universe.
“We understand the challenges SMEs face as they navigate a difficult business landscape, prevalence of AI, and rapidly changing customer behaviour. Through collaboration with HP Inc. and Google, we see an immense opportunity to empower businesses with the practical tips, tools, and technology – including AI – they need to grow, scale, and succeed.”
Building on the success of the Hustle Academy Business Bootcamp, which has supported over 15,000 SMEs across Africa since 2022, this new initiative will focus on action-oriented learning. Participants will gain hands-on skills through modules such as Unlock growth with practical skills in AI, digital marketing, and e-commerce, which are designed to help SMEs boost their productivity, attract more customers, and grow their businesses online, complemented by access to HP LIFE – the HP Foundation’s free global online business skills training program.
The programme is also committed to inclusivity, with a goal of at least 50% participation from women-owned businesses.
“The Hustle Academy training reshaped how we connect with customers online,” shared one SME from Lagos. “These skills make a real difference for us.”
Small businesses are the backbone of Africa’s economy, accounting for nearly 80% of jobs across the continent. Yet despite their significance, many still face barriers to accessing the digital skills and tools needed to compete and grow in a changing marketplace.
The Skills for Business programme aims to bridge this gap by providing entrepreneurs with practical, locally relevant training that meets the real-world demands of today’s market.
Google’s involvement brings additional expertise in digital growth and strategy for small businesses.
“Small businesses are a driving force for progress across Africa and beyond. It’s more critical than ever to help them access the skills and tools they need to grow, especially as digital technologies transform business operations,” said Kristy Grant, Google SSA’s Head of B2B & Brand Marketing. “We are proud to collaborate on initiatives like this that enable entrepreneurs to translate their ambitions into lasting positive impact for their communities and economies.”
At the heart of the initiative is HP LIFE, the HP Foundation’s free global business skills training program, which is available in eight languages online, via mobile app, and offline. Small business owners and their employees will gain access to more than 30 practical training modules covering topics such as boosting productivity with AI, digital marketing essentials, and starting an e-commerce journey.
This will be delivered alongside expert-led virtual workshops by Google and UpSkill Universe to ensure that SMEs can build the capabilities needed to grow their customer base, strengthen operations, and drive long-term success.
“When small businesses thrive, entire communities thrive with them. The Skills for Business program is about empowering entrepreneurs to access the future of work.” said Michele Malejki, Global Head of Social Impact, HP Inc. and Executive Director, HP Foundation.
“Since 2021, HP has been on a journey to accelerate digital equity for 150 million people by 2030 by providing access to technology and digital skills content that enhances skills and economic opportunity. We are very proud to support this deeply impactful program, which will provide the support SMEs need to grow, scale, and succeed.
The Skills for Business programme aims to directly train 10,000 SMEs and indirectly impact an additional 59,000 individuals by the end of 2025, demonstrating the powerful role of partnerships in advancing Africa’s digital transformation and economic development.
Federal government has declared that any admission into tertiary institutions conducted outside the Central Admissions Processing System (CAPS), will be deemed illegal.
Dr Tunji Alausa, minister of Education, gave the directive in Abuja on Tuesday at the 2025 policy meeting of the Joint Admissions and Matriculation Board (JAMB).
Alausa, therefore, warned universities, polytechnics, and colleges of education across the country against illegal admission.
He said institutions and individuals involved in such practices would be prosecuted and severely sanctioned.
“Any admission conducted outside CAPS, regardless of its intentions, is illegal.
“Both institutions and the candidates involved in such practices will be held accountable.
“Sanctions may include withdrawal of institutional assets and prosecution of culpable officers or governing council members,” he said.
CAPS, introduced in 2017, automates the admission process to eliminate human interference and administrative bottlenecks.
Alausa, however, reiterated the government’s commitment to strengthen transparency, fairness, and accountability in the nation’s tertiary education system.
He explained that while the responsibility for initiating admissions rests with the academic boards of each institution, JAMB, as a statutory regulatory body is mandated to oversee and regulate the process to ensure fairness and equity.
The Minister urged vice-chancellors, rectors, provosts, and governing councils to intensify oversight functions to prevent unauthorised practices.
He assured that the Ministry would monitor compliance closely in collaboration with JAMB.
The minister also reaffirmed the policy mandating integration of the National Identification Number (NIN) into the JAMB registration process.
“The NIN requirement has proven vital in safeguarding the integrity of our admission system by curbing identity fraud and multiple registrations.
“Any abuse of the NIN system will be identified and punished,” he said.
He highlighted the need for data-driven policies in the admission processes.
The Minister also presented statistics showing a mismatch between available admission quotas and actual student intake across many programmes, especially in agriculture, education, engineering, and the health sciences.
“We have capacity, but we are not admitting enough students.
“We need to start closing the gap, so that more children can access tertiary education,” he said.
He also criticised the proliferation of underutilised institutions, revealing that over 120 universities in Nigeria received fewer than 50 applications in the current admission cycle.
“The problem is not about access, it’s about alignment and capacity.
“We don’t need to open new tertiary institutions in every ward. Instead, we must expand and strengthen the capacity of existing ones,” he said.
On his part, Sen. Shuaib Salisu, chairman, Senate Committee on ICT and Cybersecurity, called for stricter sanctions against institutions and administrators who undermine Nigeria’s admission process.
Salisu proposed the criminalisation of fraudulent admission practices.
He also warned institutions that exploit loopholes in the admissions system, allowing students to unknowingly pursue flawed admissions for years to desist from such practices.
He assured that the Senate Committee would explore legislation to criminalise such fraudulent practices, holding admission officers and institutional management accountable.
Salisu also called for an inclusive education system that drives peace and economic growth.
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