E-Business
National ID: FG Wasted $2.5Bn in 45 Years – Aladekomo
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2021/04/aladekomo.jpg)
Nigeria may have lost about $2.5 billion dollars in the last 45 years due to poor implementation of several failed national identity projects according to Sir Demola Aladekomo, chairman of Chams Plc.
Aladekomo disclosed this while speaking on the topic titled: Socio-Economic Benefits of Shifting Paradigms, at a forum organized by the University of Lagos MBA 83-84 class.
Aladekomo painted even a grimmer picture said, “we may even waste another borrowed $400 million by end of 2021 with the non-clarity in the management of various ID projects in the country.”
With about 210 million Nigerians yet to be identified fully, he foresees increase chaos, anarchy, militancy, banditry, kidnapping, nepotism, secession calls, corruption and blatant stealing.
“This will further be exacerbated in 2050 when our population is estimated to be about 400 million if not gotten right at this stage,” Aladekomo said.
For him, just because we do not know and cannot manage our people without proper identity management, the country will be faced continuously with challenging socio-economic imperatives especially in our education, health sector, infrastructure development, security, rule of law and so on. This he said were gravely exposed in 2020 during the COVID-19 pandemic.
He however, called for paradigm shift in three areas: prioritizing data and technology, multi-agency approach, and private sector involvement. “Technologies have changed the landscape, digital economy is the new play, we need databases at national, state, agencies and sectoral levels.
These data need to be domicile in Nigeria while local technologies should be encouraged,” he said.
In addition, “Our private sector should be deliberately promoted to be involved in the execution of our national identity projects because with them there will be cost effective delivery, speed of execution, and attraction of funding/investment. Moreover, many of them have the right and most suited technology for our peculiar environment.” Aladekomo added.
In his contribution, Felix Adejimi, a software developer, said, while data is the fuel of modern economy and digital transformation is the driver, Nigeria as a nation, needs to take it seriously. He encouraged government to focus more on providing enabling and secure environment for private companies.
Tunde Omitogun, managing director of HISPLUS, on is part, encouraged the nation to act fast and implement some of the points highlighted at the forum. The event which was the first in a series was moderated by Prof. Lere Baale, chief executive of Business School Netherlands (BSN) in Nigeria.
The programme was attended by Kehinde Lawanson, former executive chirector of First Bank plc; Samson Omolorhe, president of the University of Lagos MBA 83-84 class; and Prof. Tokunbo Onabanjo.
Others include members of Fintech 1000 Plus Group such as James Agada, Niyi Ajao, Emeka Okoye, Moses Braimah, Deremi Atanda, amongst others.
E-Business
Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg)
Eric Schmidt, former Google CEO has expressed concerns about the extreme risks posed by artificial intelligence (AI) falling into the hands of terrorists or rogue states.
![Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg?resize=573%2C254&ssl=1)
Eric Schmidt, former Google CEO
He warned that nations such as North Korea, Iran, and Russia could adopt AI technologies to develop weapons capable of causing significant harm, including biological weapons.
Schmidt urged governments to oversee private tech companies, emphasising, “The real fears I have are not the ones most people discuss about AI, I talk about extreme risk.”
“I’m always worried about an ‘Osama Bin Laden’ scenario, where truly evil individuals take control of some aspect of modern life to harm innocent people,” he added.
With private companies driving AI advancements, he stressed the need for careful government monitoring and regulation. “It’s really important that governments understand what we’re doing and keep their eye on us,” he said.
His remarks followed a two-day AI summit in Paris, where the UK and the U.S. declined to sign a communiqué outlining the future direction of AI. The declaration on “inclusive and sustainable artificial intelligence for people and the planet” was endorsed by 57 countries, including India, China, the Vatican, the EU, and the African Union Commission.
The UK justified its decision, stating that the agreement lacked “practical clarity” on global AI governance and national security concerns.
Schmidt supports U.S. export controls restricting the sale of advanced AI microchips to certain countries, aiming to slow adversaries’ progress in AI research.
He also highlights the importance of international collaboration on AI safety, suggesting that cooperation with nations like China is essential to addressing global AI challenges.
E-Business
OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Open-AI.jpg)
Sam Altman, chief executive of ChatGPT-owner OpenAI, has firmly declared the company “not for sale” following a $97.4bn (£78.4bn) takeover bid from a consortium led by Elon Musk.
![OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2022/04/Elon-Musk.jpg?resize=563%2C229&ssl=1)
Elon Musk
Speaking at the AI Action Summit in Paris, Altman emphasised OpenAI’s mission to develop AGI (artificial general intelligence) for the benefit of humanity.
Marc Toberoff, attorney for Elon Musk, confirmed the bid submission on Monday.
In response, Altman humorously offered to buy Twitter for $9.74 billion on Musk’s platform.
Unlike many tech giants, OpenAI is not publicly traded but operates through a complex partnership between non-profit and for-profit entities.
Musk aims to return OpenAI to its non-profit roots, despite owning a rival firm, xAI.
Christie Pitts, a tech investor, expressed scepticism about Musk’s intentions, noting his competitive interests.
Altman echoed this sentiment, suggesting Musk’s move disregards OpenAI’s mission.
Altman, who holds no stock in OpenAI, advocates transforming the organisation into a fully for-profit company to raise more funds for AI research.
Although the board has the final say, the $97.4bn offer falls short of OpenAI’s previous $157bn valuation and rumoured $300bn in future funding talks.
Toberoff stated the consortium might increase their bid. Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on “The Stargate Project,” a $500 billion AI infrastructure initiative announced by President Donald Trump.
E-Business
Adobe Launches AI Video Tool to Compete with OpenAI
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Adobe-logo.jpg)
Adobe yesterday released the first public version of an artificial intelligence tool that can generate video clips and revealed how much it will charge, but said it will not set pricing for major users such as studios until later this year.
The Firefly Video Model, as Adobe is calling the service, will compete against Sora, a model developed by ChatGPT creator OpenAI, and startup Runway, both of which currently offer video-generation services. Facebook owner Meta Platforms has also developed a video-generation AI model but has not given a timeline for when it will be released.
Adobe’s model differs from its rivals because it is geared toward generating clips that will fit into how film and television studios use Premiere Pro, its flagship video editing software.
To that end, many of the features that Adobe is emphasizing revolve around feeding existing shots into the video model and asking it to generate clips that fix or expand on shots that were taken on a real production set but that did not come out quite right.
Adobe said the service will generate five-second clips at 1080p resolution. While that is shorter than the clips of up to 20 seconds generated by OpenAI’s service, Adobe executives said the majority of individual clips in most productions are only three seconds.
Adobe said a user can generate 20 clips per month for $9.99 and 70 clips for $29.99. That compares with 50 videos for $20 per month with OpenAI’s plan at lower resolution and a $200 OpenAI plan that can handle longer, higher resolution videos.
Adobe is also working on a “Premium” pricing plan for studios and other high-volume video users and will release those pricing details later this year. Alexandru Costin, Adobe’s vice president of generative AI, said the company is working to generate 4K video and will remain focused on quality rather than longer clips.
“We actually think that great motion, great structure, great definition scheme, making the actual clip look like it was film, is more important than making a longer clip that’s unusable,” Costin told Reuters.
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