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E-Business

SAP Explains How GRC Unified Approach Mitigates Business Risks

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According to Salman Akorede, GRC Presales Consultant, SAP West Africa Region
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Governance describes the activities that ensure business is done according to established standards and goals; however, risk involves strategically creating value and protecting value, said SAP.

According to Salman Akorede, GRC Presales Consultant, SAP West Africa Region, compliance refers to the controls in place to ensure compliance with laws, regulations and directives affecting businesses.

Speaking on why effective GRC a challenge for so many businesses, he said, organizations are confronted with an increasing need to respond to their stakeholders – government and regulatory agencies, and react to changes in their internal operational environments – mergers and acquisitions, processes, business relationships, strategy, information technology, financial reporting requirements and employees.

He added that changes in their external environments – economic uncertainties, geo-political, environmental, societal, industry and market forces, are part of the issues.

Akorede said, “This is an extremely complex environment and all these changes translate into risks and the critical need to make appropriate responses, with changes to business policies and procedures in a timely and accurate manner by using current and reliable information.

“In Nigeria, as well as elsewhere in the world, governmental regulations and compliances are only increasing. Everyday there are more organizational and industry risks that have to be managed together with other operational risks. These governance, risks and compliance challenges are often managed at department, operational, functional or role levels rather than through an integrated and coordinated approach as offered by a GRC technology solution.

“Managing risk and compliance in silos as described above is complex, confusing and costly. For each new regulation or risk discipline, organizations typically implement a new technology point-solution. This fragmented approach clearly limits an organization’s ability to streamline risk and compliance processes and reduce costs. It also obscures the opportunity to integrate risk and compliance to gain a holistic view of the organization’s risk landscape”.

He hinted that this is a problem for organizations, because fractional, disintegrated and disconnected functional business activities, information and data are spread across many people and systems.

Organizational practices across the enterprise will therefore be inconsistent.  Without an integrated solution, organizational practices may also not be in alignment with set missions, goals and objectives.

He added that, in response to the challenge of managing the multitude of risks, forward thinking organizations are embracing integrated Governance, Risks and Compliance (GRC) technology initiatives to prevent unplanned financial losses and erosion of shareholders’ wealth.

“By contrast, some organizations still have a siloed view when it comes to these solutions and view GRC initiatives as reactive and isolated quick-fixes. These organizations are not necessarily aware that implementing disconnected applications for selected processes, departments and systems only adds to fragmented and incomplete GRC management and reporting.

“By following a unified approach to governance, risk and compliance using integrated technology, organizations can quickly maximize strategic and operational performance, cost-effectively manage regulations and policies and proactively mitigate business risks.

“SAP solutions for GRC help companies to proactively balance risk and opportunity, including access control, process control, risk management, audit management, fraud management and global trade services in an integrated manner on a single harmonized IT platform”.

Ultimately, SAP’s goal is to enable organizations of all sizes to pinpoint all relevant risks and potential compliance issues to enable them to make optimal decisions in light of both the opportunity ahead and the related risks.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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MRA Flags AI Concerns ahead of Press Freedom Day Today

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Media Rights Agenda (MRA), has unveiled a visual brief emphasizing the critical need for responsible and ethical use of Artificial Intelligence (AI) in journalism, particularly within Nigeria’s evolving media environment.

MRA Flags AI Concerns ahead of Press Freedom Day Today

This is coming ahead of World Press Freedom Day today.

The visual brief, developed under this year’s global theme, “Reporting in the Brave New World – The Impact of Artificial Intelligence on Press Freedom and the Media,” explores the opportunities and dangers AI poses to media freedom in Nigeria and across the world.

In a statement released in Lagos by John Gbadamosi, its programme officer,MRA noted that AI is quickly changing the way news is produced and consumed, adding that it offers powerful tools that can assist journalists in analysing data, translating stories into local languages, and extend the reach of vital information, especially to underserved areas with limited media infrastructure.

Gbadamosi added that AI can help to ensure that essential news and information are also disseminated to local communities.

However, Gbadamosi warned that the same technology is being weaponised to undermine truth and press freedom, saying: “While AI can be used to advance journalism, it can just as easily be exploited to spread disinformation, create deepfakes, and drown out independent voices with algorithmically generated propaganda.”

According to him, “In Nigeria, journalists face threats that go beyond just physical dangers; such threats now also encompass digital, algorithmic, and systemic harms and challenges, which requires media professionals to ensure that AI enhances, rather than undermines, media freedom and that technology is used to promote the truth, not distort it.”

“The visual brief breaks down key concepts like misinformation, disinformation, mal-information, and information overload, which are increasingly shaping Nigeria’s digital media ecosystem. It also raises concerns about AI-enabled surveillance, political manipulation, and the marginalisation of community-based journalists.”

Gbadamosi stated that the visual brief also advocates support for independent media, transparent AI regulations aligned with Nigeria’s context, increased digital literacy, and stronger accountability from tech companies regarding platform content and influence.

He therefore urged all stakeholders to advocate for responsible AI usage and a free, independent, professional and vibrant media environment in Nigeria, stressing that “when media freedom thrives, democracy lives.”


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Nigerians to Pay More for IDs as NIMC Raises Service Fees

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The National Identity Management Commission (NIMC) has raised the fees for all its products and services, including charges related to data modification on the National Identification Number (NIN) database.

In a statement issued in Abuja, Kayode Adegoke, NIMC’s Head of Corporate Communications, announced that the updated service fees are published on the commission’s official website.

Adegoke noted that the new pricing structure for NIMC’s services and products marks the first comprehensive review of its fees in over a decade.

The statement stated that the revised pricing is designed to align with prevailing operational costs and industry standards, while continuing to ensure that services remain accessible and affordable for all Nigerians.

The statement warned its Front-End Partners (FEPs) to comply with the newly approved rates, stating that any failure to do so could attract strict sanctions, including possible license revocation.

“The new structure ensures that the quality and integrity of our services remain uncompromised. We are committed to protecting the interests of Nigerians through fair and transparent pricing,” the statement read.

NIMC urged the public to report any Front-End Partners (FEPs) found charging beyond the approved rates. Reports can be directed to the Commission’s Inspectorate and Enforcement Unit via email at ieu@nimc.gov.ng

It further reaffirmed its commitment to delivering secure and dependable identity services. A complete list of the revised service fees can be accessed on its official website at www.nimc.gov.ng.

In a related development, Abisoye Coker-Odusote, Director General of the National Identity Management Commission (NIMC), expressed sincere appreciation to President Bola Ahmed Tinubu for his unwavering support in enhancing the National Identity Database (NIDB).

She also extended her gratitude to the Minister of Interior, Dr. Olubunmi Tunji-Ojo, and other key partners for their pivotal roles in advancing a sustainable and effective identity management system.

 


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PwC says AI Adoption by African Businesses will Unlock Growth

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Artificial intelligence (AI) adoption could boost Africa’s gross domestic product by an additional 4.9 percentage points by 2035, as the African economy is reshaped by the emerging technology.

This is according to PwC’s recently released report: Value in Motion. It is based on data-driven scenario analysis, which reveals that globally, AI has the potential to boost economic output by up to 15 percentage points over the next decade.

The global growth dividend from AI varies according to the region and depends on more than technical success – it also hinges on responsible deployment, clear governance, and public and organisational trust, notes the report.

This would effectively add one percentage point to annual growth rates − on par with the growth increment the world began enjoying with 19th century industrialisation.

In other scenarios analysed by PwC, characterised by lower trust and co-operation, the incremental boost to the economy from AI would be more muted at 8%, or in a pessimistic scenario just 1%.

The research finds that rapid reconfiguration of the economy is already under way. PwC analysis indicates the pressure for African businesses to reinvent themselves is at some of the highest levels seen in the last 25 years across six out of nine sectors in Africa.

The $150.54 billion in revenue in Africa is set to shift between companies in 2025 alone, a trend that begun prior to the recent global increase in tariffs.

PwC’s research suggests that over the next decade, industries will reconfigure to meet human needs in new ways, leading to the formation of new ‘domains’ that cross traditional sector lines.

Dion Shango, PwC Africa CEO, explains: “As the structure of the economy transforms, value will increasingly come from organisations that can connect the dots across traditional industry boundaries. By focusing on evolving customer needs and using technology to dramatically change the way business operates, business leaders can unlock a step change in growth.”

According to Google’s Digital Opportunity of Africa report, AI could contribute up to $30 billion to Sub-Saharan Africa’s economy by 2030. Africa stands to accelerate its growth through AI as more people gain connectivity and harness technology for good, it notes.

“Across the continent, a new generation of innovators are harnessing technology to solve some of the world’s most pressing challenges,” says Google.

In terms of AI’s impact on the climate, PwC’s analysis shows that while AI is set to accelerate growth, the costs of physical climate threats will impose economic constraints.

PwC’s economic modelling suggests that physical climate impacts could result in the African economy being over 12%smaller (globally: 7%) by 2035 in all scenarios than it would have been otherwise.

“Increased AI adoption is expected to lead to increased energy use by data centres. However, modest use of AI to drive energy-efficiency could offset this increased use of energy. PwC estimates that the energy use and emissions impact of AI would be neutral if each additional percentage point of AI use led to innovations which cut energy intensity by just 0.1% globally,” says the report.


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