Featured post @ITREALMS
Saturday, June 22, 2024
Nigerians data not compromised says NIMC, advises against giving data to phishing websites - ITREALMS
The National Identity Management Commission (NIMC) has debunked media reports on the alleged exposure of sensitive data of Nigerian citizens as it concerns the Commission amongst many other data-collecting agencies, reports ITREALMS.
Friday, June 21, 2024
Who or what is responsible for Hajj deaths? - ITREALMS
The debate:
As the death toll rises, debate is raging over whether bad organization, weather or gate-crashing pilgrims are to blame for more than 1,000 reported deaths in Saudi Arabia during the annual Hajj religious gathering.
CBN hosts NESG, OPS to dialogue on economy - ITREALMS
The Central Bank of Nigeria (CBN) has hosted a dialogue between the Organised Private Sector (OPS) and the Bank’s leadership to explore strategies for enhancing Nigeria’s financial sector.
FG highlights AKK Gas pipeline's massive impact on economy, industrialisation - ITREALMS
The Federal Government has highlighted the huge multiplier impact of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project on the nation's economic growth and industrialisation.
NITDA, UBEB to foster digital literacy @FCT schools - ITREALMS
The National Information Technology Development Agency (NITDA), is set to collaborate with the Federal Capital Territory Universal Basic Educational Board (FCT-UBEB) towards revolutionising the way young Nigerians engage with technology and equipping them with necessary skills to thrive in an increasingly digital world, reports ITREALMS.The Director-General of NITDA, Kashifu Inuwa made this known when he hosted a delegation from the Head-to-Head Debate Committee of FCT UBEB led by its Acting Executive Chairman, Dr Alhassan Sule, at the agency’s corporate headquarters in Abuja to discuss possible areas of collaboration.
Major data breach: Pay N100 and get sensitive government data of Nigerian citizens online - ITREALMS
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Thursday, June 20, 2024
How modernizing payments can secure the future by Elvis Eromosele - ITREALMS
Payment is the fulcrum of human interaction. And like everything else, it is constantly changing. The move from barter to commodity money was followed by currency and we are today in the realm of digital payments.
It is clear that to go forward efforts must now be geared towards modernizing the payment infrastructure across the African continent. This is imperative to promote innovation, drive economic growth, and help the continent gain a competitive edge.
Today, Africa stands at the cusp of a digital revolution, and the need to enhance the inclusivity and integrity of digital payments cannot be overstated. This transformation is not just about integrating new technologies but about simplifying processes, increasing trust, and ensuring the availability and reliability of payment systems.
Africa may well be at a critical juncture in the journey of digital transformation, an inflection point. To underscore the significance assertion, two forums in June arrived at the same conclusion.
The first was the Digital PayExpo 2024 by Intermarc Consulting with the theme 'Redefining Payment'. It was followed by Interswitch, ACI Worldwide Customer Engagement event tagged ‘Modernizing Digital Payment Infrastructure for Innovation, Growth & Commercial Advantage.’
Both sessions essentially concluded that the rapid proliferation of digital technologies has opened new avenues for financial inclusion, allowing more people to participate in the global economy. However, this potential can only be realized if digital payment infrastructures are modernized to meet the demands of today’s fast-paced, interconnected world.
The place to start is building trust through availability. Trust is the cornerstone of any financial system. For digital payments to gain widespread acceptance, they must be reliable and available at all times. Experts argued that the trust quotient in digital payments is directly proportional to their availability. When users can depend on payment systems to function without fail, their confidence in digital transactions increases. This is a fact.
Of course, modernizing payment infrastructure also involves implementing robust systems that ensure high availability. This means reducing downtime, minimizing transaction failures, and providing seamless user experiences. Financial institutions must, as a matter of urgency, invest in technologies such as cloud computing, blockchain, and artificial intelligence to create resilient and scalable payment systems.
The second thing would be to simplify the user experience. At the heart of digital transformation is the goal of simplification. Complex and cumbersome payment processes deter users and hinder the adoption of digital financial services. To drive growth, it is essential to simplify these processes, making them intuitive and user-friendly.
Innovations such as contactless payments, mobile wallets, and real-time transaction processing are examples of how simplification can enhance user experience. By reducing the friction in payment processes, businesses can attract more users and facilitate smoother transactions.
Another way to boost the adoption of digital payments is by ensuring transaction integrity. Those who should know insist that one of the major challenges in digital payments is maintaining transaction integrity. Issues such as fraud, data breaches, and identity theft can undermine user trust and disrupt the financial ecosystem. As digital transactions increase, so does the need for robust security measures.
The way forward of course involves implementing advanced encryption technologies, multi-factor authentication, and blockchain can help ensure the integrity of digital transactions. These technologies provide a secure framework that protects user data and prevents unauthorized access, thereby bolstering trust in digital payment systems.
Furthermore, everyone, from regulatory agencies to players, must consider digital transformation as the path to unprecedented growth. In truth, digital transformation is more than just a trend; it is a pathway to unprecedented growth. By modernizing payment infrastructure, businesses can unlock new opportunities for expansion and innovation. Digital payments enable faster, more efficient transactions, reducing operational costs and increasing profitability.
Moreover, digital payment systems facilitate global commerce by breaking down geographical barriers. Businesses can reach new markets and customer segments, driving revenue growth and enhancing their competitive advantage. The adoption of digital payments also promotes financial inclusion, bringing underserved populations into the formal economy and driving socio-economic development.
The experts are in agreement; modernizing digital payment infrastructure is a critical step towards fostering innovation, driving growth, and gaining commercial advantage. So, as Africa navigates the inflection point of digitalization, it is essential to focus on building trust through availability, simplifying user experiences, and ensuring transaction integrity.
Evidently, by embracing digital transformation, businesses can not only enhance their operational efficiency but also contribute to a more inclusive and secure financial ecosystem. The future of payments is digital, and the time to act is now!
*Contributed by Elvis Eromosele, a corporate communication professional and public affairs analyst, wrote via: elviseroms@gmail.com
TECNO hosts Nigerian Idol top 7 @City Mall - ITREALMS
The flight to stardom with the Nigerian Idol Top 7 took a brief detour at the TECNO Exclusive Store in Ikeja City Mall, where fans got to spend the day with their favourite Idol.
Adebayo, Rudman, Sesan, Iloezumma join speakers faculty @2024 Nigeria DigitalSENSE Africa forum on IG4D - ITREALMS
Messrs Gbenga Adebayo, Muhammed Rudman and Gbenga Sesan as well as Ms Francisca Iloezumma have made it to the speakers faculty of the 2024 Nigeria DigitalSENSE Africa forum on Internet Governance for Development (IG4D) slated for Thursday, June 27 by 10am at the prestigious Welcome Centre Hotels, International Airport Road, Lagos, reports ITREALMS.Confirming this in Lagos, the Lead Consulting Strategist, DigitalSENSE Africa, a project of ITREALMS Media group, Sir Remmy Nweke, said that they would be speaking at the panel session on ‘Stakeholders role in innovative digital economy and safer civic space in Nigeria’ by sharing their respective representation perspectives.
Ubeta Field: NNPC Ltd, TotalEnergies JV unveil US$550m FID - ITREALMS
To boost Nigeria’s oil and gas production, the NNPC-TotalEnergies JV has officially announced a 550 million USD Final Investment Decision (FID) on the Ubeta Field Development Project, reports ITREALMS.The milestone is in line with President Bola Ahmed Tinubu’s Presidential Executive Order on Oil & Gas Reforms aimed largely at improving the investment climate and positioning Nigeria as the preferred investment destination for the Oil & Gas sector in Africa.
CAAF24 highlights Africa’s urgency for climate change future actions - ITREALMS
The two-day Climate Action Africa Forum 24 (CAAF24) commenced Wednesday in Lagos-Nigeria with assemblage of leading environmental advocates and stakeholders, galvanizing actions to underscore the urgent need for climate action across industries and communities in Africa, reports ITREALMS.
Wednesday, June 19, 2024
Makinde approves appointment of Olakunleyin as 43rd Olubadan - ITREALMS
Finally, the Oyo State governor, Engr. 'Seyi Makinde, has approved the appointment of Oba Akinloye Owolabi Olakuleyin as the 43rd Olubadan of lbadanland, reports ITREALMSThe governor gave the approval in a memo signed on June 14, 2024, in exercise of the powers conferred on him by Section 19 (Cap 28) Law of Oyo State 2000 as amended.
Global warming: 130m Africans at risk, as CAAF launches Billion Trees Initiative - ITREALMS
Tuesday, June 18, 2024
‘Petals of Life’ for launch, July 6 @LCCI – ITREALMS
A broadcast Journalist with the Voice of Nigeria (VON), Mrs Lilian Obiageli Ario, is set to launch a collection of poems titled “Petals of Life” reports ITREALMS.
Legit Entertainment Awards 2024 opens, invites voters - ITREALMS
The management of Legit.ng has opened Legit Entertainment Awards 2024 and invite voters to take the advantage to ensure their choice artists emerge, reports ITREALMS.
Trend Micro to secure AI-enabled private data centres worldwide - ITREALMS
… New security solution using NVIDIA NIM revealed at COMPUTEX
Global cybersecurity leader, Trend Micro Incorporated, has announced plans to demo a new data centre solution, using NVIDIA technology, for security-conscious business and government customers harnessing the power of AI.
Monday, June 17, 2024
Open Letter To President Tinubu: Acute food shortage plunges Nigerians into severe hunger by Emeka Nwokocha - ITREALMS
Your Excellency, President Ahmed Bola Tinubu, I am very worried about the current economic crisis our dear country is thrown into and the resulting acute hunger battering and killing innocent Nigerians everyday, mostly children.In this open letter to President Ahmed Bola Tinubu, Emeka Nwokocha, lamented the acute food shortage facing Nigerians with severe hunger.
NLNG reiterates commitment to delivering Train 7 benefits - ITREALMS
The Nigeria LNG Limited (NLNG) has reaffirmed commitment to delivering economic benefits through the Train 7 project on Bonny Island, reports ITREALMS.A press statement by the General Manager, External Relations and Sustainable Development at NLNG, Mr Andy Odeh, quoted officials who spoke at a reconvened session of the Senate and House of Representatives' Joint Committee on Gas (the Committee).
State of emergency on education: Buni's vision by Hassan Gimba - ITREALMS
In the past few months, there has been some incessant din over the plight of education across the country, how deplorable it has become and concerns over how to bring it out of the shambles it has been shovelled into as a result of long-term negligence by those who should nurse it after benefitting from it.
Sunday, June 16, 2024
Abductors demand N2.2bn ransom on Lagos merchant, Fouani, 3 others - ITREALMS
The kidnappers of the Managing Director of Fouani Group of Companies, Mr. Mohamed Fouani, the franchise distributors of LG and Hisense Electronics products in the country, at the Lagos waterway, have reportedly contacted the company and family, demanding $1.5 million, about (N2,243,250,000.00 billion) as ransom, just as the Police said it has intensified investigations, reports ITREALMS.An unconfirmed reports quoted this Sunday morning by ThisDay as saying that Mr. Fouani and three other Lebanese, were kidnapped on Friday evening, June 14, 2024 at the axis of Falomo Bridge, Ikoyi, Lagos, while travelling from Apapa to Victoria Island by boat.











