News
NCS Bemoans Unproductive Consumption, Digital Exclusion
In reflections on 2014 and aspirations for 2015, the Nigeria Computer Society (NCS), has decried the persisting climate of unproductive consumption and digital exclusion in the Nigerian society.
According to NCS, although the IT Industry and Profession, in 2014, witnessed increased presence of IT in various sectors of the economy and society, however, a significant challenge is the persisting climate of unproductive consumption and digital exclusion in rural/urban, gender, among other trajectories.
In this light, Nigeria Computer Society (NCS), the nation’s foremost network of IT practitioners and stakeholders, said that it will be organizing its 12th international conference in July, 2015 based on the theme “Information Technology for Inclusive Development”.
Speaking on ssing IT to address Nigeria’s developmental challenges and strengthening the local IT sector, Professor David Adewumi, president of NCS, said these are strategic initiatives for global competitiveness.
He declared that 2015 is the year of Innovative and Inclusive Development, “in line with NCS’s advocacy role of ensuring that the nation receives the very best in processes, technologies and people”.
The telecommunications industry, he continued, still witnessed tremendous growth, while attracting investment in 2014. “However, while teledensity has improved significantly, quality of service, affordability, broadband penetration and last mile connectivity to the consumer are barriers that need to be addressed in 2015. The National Broadband Plan, if faithfully implemented, appears promising. The Nigerian Communications Commission (NCC) in particular has a major role to play and needs to speed up process of licensing of Infrastructure Companies (InfraCos) that will rollout broadband infrastructure nationwide. Also there must be bite in the Smart States initiative”.
To address some of the challenges, he said that a solid foundation in education is required to lead the IT revolution.
Adewumi said, “Just as in previous years, quite a few private, social and governmental initiatives in capacity building for IT were undertaken in 2014 to close the IT skills gap.
“However, human capital in IT is still massively below requirements, especially in research. Though there is improved access in education, there is an urgent need to ensure the entire education system embraces the 21st century knowledge culture that promotes and supports innovation.
NCS also gave Analyses on issues bugging the sector in Nigeria:
Online Sphere:
“The online sphere is home to considerable progress – online stores, business and social networks. Most outstanding in terms of investments attracted, jobs created and societal changes have been the e-payment/e-commerce landscape. In 2015, the space should be widened for existing players and new entrants. In addition, support issues as well as growth in mobile money uptake need to addressed.
Policies:
Policy and advocacy has been an area of growth through the efforts of professional and industry groups such as NCS, ATCON, ISPON, etc. NCS has been extremely fortunate to have members and partners who understand that advocacy efforts require resources.
They supported the IT Research workshops, Scholarship awards, the NCS 2014 conference and the 2014 National IT Merit Award (NITMA) and advocacy organization. In 2015 their continued support will further advance IT development in Nigeria.
The National Information Technology Development Agency (NITDA) and the Federal Ministry of Communication Technology (FMCT) has been coordinating national IT activities, and needs to keep providing visionary leadership in 2015. Multistakeholder policy review and development are essential to ensure policies are relevant and effective. FMCT and NITDA should also as a matter of urgency work with stakeholders to fast track the enactment of draft bills that will accelerate IT development in Nigeria.
Cyberthreats
Greater availability of computing and internet facilities (laptops, PCs, mobile and wireless devices) drives up cyber threats and increased the need for information security. Indeed because of the impact of cyberspace on the nation’s social and economic life, national security now encompasses the digital environment.
It is imperative that stakeholders such as NITDA, the Information Technology Systems and Security Professionals (ITSSP) group of NCS, security agencies and other Infosecurity entities work together to put information security strategies, policies, legislation and culture in place.
Improved overall cybersecurity awareness and capacity should be a national strategic goal in 2015. Better application of IT to fight terrorism and other national security threats, as well as the resolution of the National database issue should also be priority targets in 2015.
Recognition Of IT Professionals
Though quite a number of government agencies are now IT driven, it is disturbing to note that IT professionals are not actively involved at the board level in top level decision making and policy formulation/evaluation for most of such organizations.
The absence of IT professionals on the boards of MDAs questions the nation’s desire to be part of the 21st century. It is pertinent to note that the IT industry and profession was not represented at the 2014 National conference.
Even with improved access to IT and the Internet, activity in the IT space is largely foreign driven and dominated. The prevailing funding and patronage scenario puts the local industry at an extreme disadvantage. The birth of the IT innovation fund is a good start requiring sustainability.
Addressing local content development and IT research and development is a strategic imperative for 2015.
There has been appreciation of knowledge, merit and IT enabled innovation through the national honours platform for IT achievers –the annual National Information Technology Merit Awards (NITMA) and the NITDA e-governance awards held during the 2014 e-Nigeria conference. However, it is quite amazing that despite the manner in which IT is radically reshaping Nigerian society, the yearly composition of the National honours list does not recognize or appreciate the impact IT is making in the country.
Software Development
Software development, entrepreneurship and research initiatives addressing issues of funding and patronage should be encouraged and promoted. FMCT and NITDA must be commended for initiating some remarkable projects with such a focus.
Scaling up of promising interventions require strategic partnerships for faster, sustainable results. Nigerian content development in ICT, youth empowerment, digital gender mainstreaming and research are all top agenda items.
Critical to Nigeria’s digital future is support of innovative ideas in IT and harnessing the potential of Nigeria’s youth. However, in order to better serve the purpose and yield the benefit for which they were established, it is absolutely essential that FMCT, NITDA and NCC do more to support stakeholder driven initiatives in an inclusive manner.
A much needed, in fact overdue, area of critical focus for these government bodies is to work with stakeholders such as NCS to establish IT parks that will facilitate the achievement of identified priorities.
Mobile Technology
Mobile technology should be embraced at all levels to leverage on Nigeria’s improving teledensity for strong growth, financial and digital inclusion and to address Nigeria’s developmental issues.
The mainstreaming of mobile into development will reflect through the development of feasible and sustainable mobile initiatives relating to mobile money, mEducation, mHealth, mAgriculture, etc.
INEC And 2015 Elections
The Independent National Election Commission (INEC) employed information technologies to conduct to conduct governorship elections last year.
INEC is expected to continue in this vein in the conduct of national elections in 2015. It is imperative that the electoral body works more closely with stakeholders such as NCS to enhance IT adoption in election management and processes in Nigeria.
It is about building a prosperous, modern and democratic nation that meets the aspirations of the Nigerian people.
IT For National Development
IT development is a national matter and priority that has immense impact on the future of Nigeria.
The vision, leadership and commitment of key actors in the social, political and economic spheres are desired.
Though there are exceptions, the political class as a whole still appears to underestimate the potential of the IT sector. In view of upcoming elections in 2015, it is absolutely essential that Nigerians support and encourage credible politicians at all levels (local, state and national) that have an appreciation of the glaring need to incorporate and prioritize the role of the ICT sector in all sectors.
Those who must lead at this time must be those who are committed to ensuring the game changing nature and ability of IT is used to drive development.
The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.
In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.
It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.
The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.
In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.
“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.
“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.
“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”
Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.
“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.
17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.
Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).
Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.
“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.
She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,
Learning through experience
Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.
Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.
Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.
Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.
World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.
The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.
The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.
Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.
Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.
The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.
It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.
Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.
He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.
According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.
“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.
“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”
The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.
He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.
Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.
“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.
“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.
“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.
The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.
All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.
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