E-Business
Shedding Light on Block-Chain

Technology has evolved over the years, throwing up disruptive capabilities within the polity as well as coming with interesting nomenclatures. One of such is what is called “Block-chain”.
Chukwuemeka Fred Agbata Jnr, caught up with Oluseyi Akindeinde, Chief Technical Officer at Digital Encode recently on Tech Trends on Channels Television, to shed more light on what Blockchain is all about.
Oluseyi, the Chief Technical Officer at Digital Encode, is one of the leading tech guru in Nigeria.
Describing what block-chain is, Oluseyi explained that it is the latest thing on the internet and, in fact, the second most important thing after the emergence of the internet itself.
Block-chain, he explained, will have the same kind of impact that the internet had when it was first introduced. Block-chain was developed in 2008 by some guys who thought of how to further simplify online payment transactions.
One the practical use of block-chain, the first application of block-chain, Oluseyi stated, is the block-chain 1.0, which enables currency in digitized cash. In other words, the same thing you can do with physical cash, you can now do on the block-chain, according to him.
The essence of block-chain is that it takes away the third party in an online financial transaction, thus, making the transaction possible between the buyer and the seller directly.
Before the advent of block-chain, the buyer and the seller used to transact their online financial business through trusted online traditional payment houses such as Paypal, VISA, MasterCard, etc, but now these third parties are removed completely from the transactions, Oluseyi reiterated.
Giving an illustration. Oluseyi said trading on the Stock Market, e.g., trying to sell your Shares on the Stock Market to someone else , will usually require you to seek the services of a Stock Broker or Registrar (third parties) in order for the transaction to sail through.
With block-chain, however, you can digitize the Share Certificate and the buyer too can digitize the cash and both of you can meet on the block-chain through a decentrslized exchange platform, peer to peer, to finalize the transaction.
All you need, stated Oluseyi, is a Laptop and Software, hence, the financial sector is already disrupted and will continue to be disrupted.
He agreed that the banks are not too happy with it as it’s already taking away some of their businesses, just as the Post Offices were not happy with the internet when it was first introduced as it took most of their jobs.
He, however, said there was nothing the banks can do about block-chain as it has come to stay. He maintained that since block-chain, like every other thing on the internet, is decentralized, there is no regulation on it. He stated that some countries, such as Tunisia has put their currency on the block-chain.
Oluseyi said that with block-chain bitcoin, you can make small financial transactions as the fee is usually a fraction of the amount being transacted instead of s huge fixed charge.
No cross-border or censorship fees are charged. He observed, in the final analysis, that, banks are now seeking ways of leveraging block-chain since they have seen that it has come to stay. You can watch the full length of the Interview here
CFA is the Founder, www.techsmart.ng and Co-producer/Presenter,Tech Trends on Channels Television.
E-Business
MRA Flags AI Concerns ahead of Press Freedom Day Today

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.
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.”
E-Business
Nigerians to Pay More for IDs as NIMC Raises Service Fees

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.
E-Business
PwC says AI Adoption by African Businesses will Unlock Growth

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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