E-Business
Savvy Spending Tips in Yuletide Season
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The year has gone by and Christmas is here again. And so it’s the merry season of giving and sharing of gifts with family and friends.
Christmas is indeed the season of giving as you buy lovely gifts for loved ones and yourself. In all the excitement, it’s easy to lose track especially if you’re not following a budget for all your expenses.
As much as you want to celebrate and be jolly during this festive season, you also want to make sure you avoid that post-Christmas financial hangover.
Christmas shopping usually begins much earlier as you make plans for travel, what to purchase and so on. So it is necessary to take time to plan to ensure you spend your money wisely over the festive period.
1. Set A Budget – And Stick To It
It’s easy to get carried away buying presents, a Christmas tree, decorations and attending all the seasonal parties that are filling up your diary, but if you’re not careful you will have spent way beyond your means. The best thing to do is draw up a list of all the events you need to attend as well as a budget for all you need to buy – and stick to it.
No cheating or you’ll only get into money troubles later! Make sure you have been realistic enough in your projections and prioritize between your ‘must-do’s’ and your ‘like- to’s’.
You will then need discipline to stick to your budget through-out the season. If you use a debit card it is easier to spend within your means since each time you spend, the money is instantly drawn directly from your bank account.
Transactions on your Visa Debit card can be tracked on your card issuer’s website or over the phone and your monthly account statement will provide full details of your purchases, including merchant name, location, date and amount. Keep track of your receipts and check them against your bank statement. It pays to be organized!
2. Give The Gift Of Charity
Instead of excessively spending on each other this year, consider giving to those who may not have the means to put gifts under the tree this year.
Get family and friends to agree to make a donation to charity which ultimately buys a gift for someone in need.
3. Bag The Best Deals Online
Online shopping has got to be one of the best innovations to come along for the savvy shopper. Instead of trawling the malls for gifts in the hectic pre-Christmas shopping season, you can leisurely browse through the best deals from the comfort of your own home or office.
Coffee (and budget) in hand and with your card at the ready, you can compare prices across sites and get the best deal for that perfect gift. In fact, in a Visa survey1, 70 percent of people said that they shop online because it allows them to find and compare items easily.
A lot of online shopping sites will also offer free shipping or home delivery to try and get the edge over their competitors, so take advantage.
But don’t forget to be safe online, look for secure websites that have an address that starts with http”s” for ‘secure’.
You can also look for a padlock icon in the browser that means your payment information is protected. Some websites will also provide further protection with identity authentication services such as Verified by Visa which requires you to enter a password before you can make a purchase.
All you need to do is register your Visa card with your card-issuing bank or during the checkout process at a participating website, and then you’re good to go.
4. Book Ahead
If you are one of those who’ll be travelling a distance to visit family and friends over the festive period, reserve your flight or bus ticket online with your Visa debit card or via mobile money payment option and collect your ticket just before departing.
This not only means you have a reserved seat at a time that suits you and can enjoy a more comfortable journey, but it also means you can grab the best early-bird deals and stick to the all-important budget.
As you are monitoring your account to make sure you are sticking to your budget, you should also watch out for any unauthorized transactions and report such to your bank immediately to stay protected.
5. Try ‘Bring Your Own Food And Drink’ Parties
If you are hosting a Christmas party, why don’t you get each family member or friend to bring their favourite dish or beverage?
It gives a seasonal feeling of sharing to the occasion and creates a great deal of conversation when everyone unveils their dishes.
What’s more, not only do you save time and money, but it also means that everyone has their favourite food to eat.
6. Shopping Early Has Its Benefits
Although it may seem stressful to start holiday shopping so early, in fact, it is quite the opposite. Getting a head start on your holiday shopping can help to ease the pressure of last-minute shopping, which can force you to make unwise decisions.
It will also allow you plenty of time to find the right items at the right price. When the holidays start, you will have ample time to enjoy your family and the holiday season.
Another way to spend your Christmas together is to go out for the day – lots of places offer deals to encourage you to spend the day with them and if you are a Visa cardholder, there is usually a range of travel, shopping, dining and spa offers that you and your family may be able to enjoy.
Check with your local bank on what deals your Visa card offers you to be a savvy spender and really get the most out of your budget for the season.
Now the only thing left to do is relax in the knowledge that you are looking after your money and enjoy the festive celebrations. Merry Christmas!
Ade Ashaye is the Country Manager for Visa in West Africa
E-Business
NDPC Secures NJI’s Support for Data Privacy Rights in Nigeria
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Nigeria Data Protection Commission (NDPC) has secured the support of the National Judicial Institute (NJI), in line with its objective of safeguarding the data privacy rights of Nigerians.
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Dr. Vincent Olatunji, national commissioner and CEO, NDPC Hon. Justice Salisu Garba Abdullahi (Rtd) of NJI
This was contained in a press statement signed by Mr Itunu Dosekun, head of Media, NDPC, and made available to journalists in Abuja, the nation’s capital.
NJI is a government institution responsible for the training of judicial officers in Nigeria, from magistrate courts to the Supreme Court of Nigeria.
During a courtesy visit by the Commission to NJI, Dr. Vincent Olatunji, national commissioner and CEO, NDPC, lauded the management of NJI under the leadership of Hon. Justice Salisu Garba Abdullahi (Rtd) for the milestones the Institute has achieved in human capital development, particularly for judicial officers and fellows of the Institute.
While commenting on the importance of the Nigeria Data Protection Act in the face of disruptive technologies, Dr Olatunji reiterated the need to collaborate with NJI in keeping judicial officers abreast of privacy jurisprudence.
He noted that decisions on the enjoyment of data privacy rights concerning one citizen have fundamental implications for all citizens.
“It is the digital age, and the protection of the privacy of all citizens worldwide is paramount.
“It is now the right of all citizens to have their privacy protected. This is why countries across the globe are putting adequate measures in place to ensure enforceable data protection rights, as well as establishing data protection authorities to enforce data protection laws,” Dr Olatunji stated.
In his response, Justice Abdullahi commended the NDPC, under Dr Olatunji’s leadership, for its significant achievements since its establishment.
He pledged to collaborate with the NDPC to raise awareness of data protection and privacy within the judiciary and accepted the NDPC’s proposal, anchored on capacity building for judges, NJI fellows, and employees.
“The issue of data protection is very important. It is new, and judges need to be trained. The first step we should take is to review the Act (NDP Act) that established the Commission. Additionally, there is a need for us to train our fellows on data protection.”
NJI and NDPC have put in place a technical working group that will draw up a work plan and coordinate the initiatives for capacity building. The working group is expected to report back within days to commence implementation.
E-Business
Flutterwave Partners NITDA to Strengthen Nigeria’s Digital Economy
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Flutterwave, Africa’s payments technology company, said it has formed a strategic partnership with the National Information Technology Development Agency (NITDA), to drive digital transformation and ultimately economic growth across Nigeria.
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Olugbenga Agboola, founder and CEO of Flutterwave and Kashifu Abdullahi, director-general & CEO of NITDA
The collaboration aims to address the slow adoption of digital solutions among small and medium-sized enterprises (SMEs), a critical challenge that, when solved, can significantly boost the nation’s digital economy.
By promoting digital literacy, encouraging fintech innovation, and supporting key national initiatives such as the National Digital Economy Policy and Strategy (NDEPS), the partnership has a goal to accelerate Nigeria’s transition into a thriving digital ecosystem.
Despite the rapid evolution of digital payment systems, many SMEs in Nigeria still rely on traditional business models that limit their growth potential.
The inability to adopt digital payments, leverage e-commerce, and access secure financial solutions creates barriers to scaling and participating in the global economy.
Recognising this challenge, Flutterwave and NITDA were collaborating to bridge the digital divide and equip businesses with the right tools and expertise to embrace digital transformation.
Speaking on the partnership, Olugbenga Agboola, founder and CEO of Flutterwave, said, “many small businesses in Nigeria struggle to fully embrace digital solutions, and we believe that by providing seamless and secure payment technologies, we can empower them to scale with confidence.
“This partnership with NITDA reinforces our dedication to encouraging a truly inclusive digital economy, and we are proud to contribute to the outstanding work NITDA is doing to transform Nigeria’s digital landscape.”
Kashifu Abdullahi, director-general & CEO of NITDA, added, “Flutterwave’s reputation for fintech innovation aligns perfectly with our vision for a thriving digital economy. We recognize that slow digital adoption among SMEs has hindered economic growth, and through this collaboration, we aim to provide businesses with the necessary resources and infrastructure to transition into the digital age.”
The partnership represents a significant step toward Nigeria’s digital transformation, with Flutterwave and NITDA working hand in hand to create an environment where businesses can thrive through innovative financial solutions.
Flutterwave is a payments technology company that enables businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions via one Application Programming Interface (API).
Flutterwave has processed over 890 million transactions in excess of $34 billion, serves global and African customers like Uber, Air Peace, Bamboo, PiggyVest, and across various industries.
E-Business
AfCFTA Digital Trade Protocol Targets 50% Growth by 2030
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Vice President, Kashim Shettima, has stated that the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol is set to grow intra-African trade from 18 per cent in 2022 to 50 per cent by 2030.
Commenting at the AfCFTA Digital Trade Workshop and Global Market, with the theme, “Unlocking State Exports Potential,” held in Abuja, Shettima who was represented by the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlights Nigeria’s role in digital commerce, citing the country’s 109 million internet users and expanding mobile economy as key enablers.
He emphasised that Nigeria’s advancements in mobile payments have revolutionized cross-border transactions, financial inclusion, and digital commerce, positioning the country as Africa’s digital trade hub.
“The internet economy is expected to contribute 5.2 per cent of Africa’s GDP this year, with the digital economy projected to grow to $180 billion, up from $115 billion in 2020,” he noted.
Shettima reaffirmed Nigeria’s commitment to modernising passport application systems and upgrading port infrastructure to streamline trade, reduce customs processing times, and strengthen the country’s role in handling West Africa’s cargo.
“We must move from policy discussions to implementing digitally enabled trade that fosters economic prosperity,” he urged.
The African Union (AU) recently recognised Nigeria as the Digital Trade Champion for Africa under the AfCFTA Digital Trade Protocol, a status confirmed during the 38th Ordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia.
Governor Uba Sani of Kaduna State, represented by Deputy Governor Dr. Hadiza Balarabe, warns that any nation failing to embrace digital trade risks being left behind. He commends the Tinubu administration for its achievements in the ICT sector.
“Digital trade platforms have broken traditional barriers, allowing businesses of all sizes to access regional and global markets more efficiently,” he says.
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