Makinde: We'll continue to foster innovations, partnership for Oyo's development - ITREALMS

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Oyo State governor, 'Seyi Makinde, has said that his government will continue to come up with innovative ideas and build the right partnerships that will bring about desired development and propel the state into a great future.

The governor stated this on Tuesday at the official launch of the first phase of telecommunications and digitalisation partnership between Globacom Limited and Oyo State Road Traffic Management Authority (OYRTMA), held at the Local Government Training School, Secretariat, Agodi, Ibadan.

Livestock Summit: Governor Adeleke mulls localisation innovations - ITREALMS

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Governor Ademola Adeleke has expressed readiness of the state government to localise modern livestock innovations with a view to develop Osun dairy and livestock sub-sectors.

Speaking after a visit to a large dairy farm in Northern France and attending the world largest livestock summit in Clermont Ferrand along French partners, Governor Adeleke described advancement in livestock sectors as breathtaking, noting particularly the application of high tech and AI in the farm process.

Four AI-based innovations according to Roselyn Isimeto - ITREALMS

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1) AI-powered Bank Customer Service Assistant
I built an AI-powered assistant for customer service care in Retail Banking. It is an app that engages customers in conversational interactions. 

It automates routine tasks such as customer inquiries, complaints and account management, freeing up human resources to focus on higher-value activities. 

Digital Lab unveils 'Innovations Map' - ITREALMS

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The Digital Lab, a Libyan initiative fostering innovation and digital transformation, has officially launched its highly anticipated innovations map platform, reports ITREALMS.

The user-friendly online tool, ITREALMS gathered will serve as a comprehensive resource, connecting innovators, entrepreneurs, researchers, and investors across the country.

EdTech Innovations: HP, Cambridge turn to Africa, 25 fellows emerge - ITREALMS

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This September, 25 of Africa’s most influential education technology (EdTech) leaders will head to Cambridge on a new fellowship programme from Cambridge Partnership for Education and HP.

The HP Cambridge Partnership for Education EdTech Fellowship is a seven-month programme that aims to grow participants’ knowledge and skills to lead impactful EdTech transformations in their education systems.

Exclusive! Nigerian academia jostles for N14m grant on 5G research innovations - ITREALMS

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Academics in the Nigerian tertiary institutions are now jostling over the N14 million research grant for the 2021 telecommunications-based research innovations by the Nigerian Communications Commission (NCC), reports ITREALMS.

This, ITREALMS gathered was contained in a Request for Proposal (RFP) published on Monday, July 5, 2021.

Brighter future: Ovia urges Nigerian youth to disrupt innovations - ITREALMS

ITREALMS:

The founder and chairman, Zenith Bank plc, Mr. Jim Ovia has urged Nigerian youth to leverage technology and be part of the disruptive innovation eco-system, reports ITREALMS.

Ovia gave this charge at the Zenith Tech Fair in Lagos which commenced Wednesday at Landmark Centre, Victoria Island, in his welcome address.

According to him, "Catalyzing Disruptive Innovation through Youth Empowerment" will ensure that Nigerian youths and future of the country is bright.

The event which is a showcase of leading technology innovation across every aspects of life, Ovia encourage participants especially the youth to talk about technology, as the interest radiates from talking about what you think on a given innovation thereby proffering solution.

ITREALMS reports that the Country Director, Google Nigeria, Juliet Ehimuan-Chiazor, while dwelling on ‘Machine Learning and Quantum Computing: The Next Frontier’ that quantum computing is the future as it has potentials to change the way we live or think, hence Google said its ground breaking Sycamore superconducting quantum chip had taken just 200 seconds to complete a task that the world’s most powerful computer would need 10,000 years to finish.

She quoted Google chief executive, Sundar Pichai to buttress her point, saying that “With this breakthrough, we’re now one step closer to applying quantum computing to, for example, design more efficient batteries, create fertilizer using less energy, and figure out what molecules might make effective medicines.”

For the Managing Director of Huawei Technologies Nigeria, Mr. Eric Zhang on the ‘Opportunities for 5G in Nigeria,’ beckoned on participants to think about a world in which not just people but all things are connected cars to the roads they are on; doctors to the personal medical devices of their patients, augmented reality available to help people shop and learn and explore wherever they are.

“This requires a massive increase in the level of connectivity. 5G will impact every industry, from mobile phones to healthcare, autos, banking, manufacturing, distribution,” Zhang was quoted as saying by his represented at the occasion.

The 2019 Zenith Tech Fair with the main theme: Future Forward, is powered by Zenith Bank as a showcase of leading technology innovation across every aspect of life.

Chuks Egbuna/Editor

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Wema Bank holds AGM, commits to sustainable growth through innovations

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Wema Bank Plc has reaffirmed commitment to sustain financial growth through innovations, reports ITRealms.

The bank made this known at its Annual General Meeting (AGM) in Lagos, during which the financial report for the year ending December 31, 2017 was presented to shareholders.

The Bank used the platform to announce commitment to its attained growth phase, which is the final stage of its restructuring process that started in 2009. The innovative bank, which launched ALAT, Africa’s first fully digital bank, confirmed the growth of its gross earnings by 20.07%, from N54.36 billion in FY2016 to N65.27 billion in FY2017.

According to the Managing Director/ CEO, Mr Segun Oloketuyi, “the growth was supported by the launch of ALAT – Nigeria’s first fully digital Bank, enhancing Wema Bank’s already existing alternate platforms which recorded a combined growth rate of 205.67% in transactions executed and with an estimated 30,000 accounts opened monthly. We have made necessary steps to consolidate on the growth achieved in the new financial year.”

He commended the shareholders for their understanding over the years and for seeing the bank through the first two restructuring phases of the bank.  “I would like to appreciate our esteemed shareholders for their patience and the trust reposed in us. We are now in the final stage of our three-pronged strategy; stabilise the bank (2009 – 2012), reposition the bank (2013-2017) and grow the Bank (2017 and beyond),” he said.

Commenting on the financial year 2017 results, Mr Oloketuyi provided further insights into the performance of the Bank during the period.  “Despite the slow start to the year, 2017 recorded significant progress, highlighted by the introduction of the Investor & Exporters (I&E) window and recovery in oil prices,” he noted.

In October, the Bank held its Extra-Ordinary General Meeting (EGM) towards its proposed Capital Reorganisation Scheme.  The CEO announced that the exercise has been concluded. “With all relevant regulatory approvals in place and duly passed and reflected in the 2017 financial year accounts, the conclusion of the exercise would now lead to an efficient balance sheet, as ploughed back profit can be capitalised to grow the business while positioning the Bank for dividend payment in the near term” he explained.

On plans ahead of the new financial year, he informed the shareholders that “We approached the money market in November 2017 to raise N25 billion in two Series under a commercial paper Program; Series 1 N10 billion – 182-day tenor and Series 2:N15 billion- 270-day tenor. Given the relative decline in interest rates and possible growth within the economy, the Bank will be re-opening the 2nd series of its N50 billion debt issuance program. This should commence from the second quarter of the year.”

 On his part, the Chief Finance Officer, Tunde Mabawonku noted that, the Bank’s earnings from non-interest income remained strong, growing by 24.44% from N9.80 billion in 2016 to N12.19 billion in 2017; surpassing its 2017 guidance of a 19% growth rate.  

The Bank closed with a Profit before Tax (PBT) of N3.01 billion (2016; N3.24 billion), despite reporting an  increase in impairment charges which rose  from N0.42 billion in 2016 to N2.18 billion in 2017.

According to him, “Risk management remains at the core of our operations, as we leverage on our prudent risk management practices and reported a Non-Performing Loan (NPL) ratio of 3.52% (2016; 5.01%) while our Capital Adequacy Ratio (CAR), closed at 14.32% (2016; 11.07%). We remain confident, that the Bank’s credit rating will continue to remain affirmed at investment grade level,” he said.

Ayo Midele/GEE

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Pix: L-R: Oluwole Ajimisinmi,  Company Secretary; Segun  Oloketuyi, MD/CEO; Tina Vukor-Quarshie, Non-Executive Director; Abubakar Lawal, Non-Executive Director, all of Wema Bank at the bank's 2017 Annual General Meeting in Lagos.

Banks must absorb fintech innovations – Okere

ITRealms:

The founder of Computer Warehouse Group (CWG) and Entrepreneur in Resident at Columbia Business School, New York, Mr. Austin Okere has said that banks must absorb financial technology innovations to remain relevant, reports ITRealms.

Speaking at the third quarterly forum of the Nigeria Information Technology Reporters Association (NITRA) in Lagos, at the weekend, Mr. Okere said banks must wear a new look in much the same way that retail did with the advent of electronic commerce (e-commerce).

This, he said, would afford banks to absorb fintech innovations currently blossoming globally and also improve the value chain by way of enhancing customer experience.

Okere, who also is a member of the World Economic Forum Global Agenda Council on Innovation and Intrapreneurship, emphatically said that banks and financial technology (FinTech) must collaborate for mutual benefit.

“Fintech companies in emerging markets have shown that with the right technology, it is possible to leapfrog to new forms of banking. Truth be told, Banks are best placed to continue to influence the future of Financial Services because of their huge branch network, solid reputations, and risk controls, as well as years of customer cultivation and loyalty,” he said.

Further, Okere pointed out that banks however, have to radically change the ‘we win when you lose’ mind-set, considering that credit card customers who default on payments have their interest rates hiked to the extent of repaying £2.50 for every £1 borrowed as revealed in a report by the Financial Services Authority in the U.K.

“This hardly fosters an endearing partnership,” he warned.

Earlier, NITRA chairman, Emma Okonji, welcomed participants to the third edition, noting that the forum was set up to avail stakeholders opportunity to interact with IT reporters in the country in the last four years, since its inception and solicited for more industry collaborations.

The forum was attended by the chairman, Conferences at Nigeria Computer Society (NCS), Jide Awe; Executive Secretary, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbolahan Awonuga; Managing Director, Global Accelerex, Tunde Ogungbade and  Divisional Head, Electronic Banking, Fidelity Bank, Ifeoma Onibuje.

Also in attendance included the President, Institute of Software Professionals of Nigeria (ISPON), Olorogun James Emadoye, and his counterpart at the Nigeria Internet Registration Association (NIRA) Mr. Sunday Afolayan, among others.

Uju N. Dominic/GEE

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L-R: Jide Awe, Chairman, Conferences, NCS; Gbolahan Awonuga, Executive Secretary, ALTON; Tunde Ogungbade, Managing Director, Global Accelerex;  Ifeoma Onibuje, Divisional Head, Electronic Banking, Fidelity Bank; Emma Okonji, Chairman, NITRA; Austin Okere, Vice Chairman, CWG Plc; James Emadoye, President, ISPON and Sunday Afolayan, President, NiRA at the 3^rd Quarterly Forum organised by Nigeria Information Technology Reporters’ Association held in Ikeja, Lagos.

African future is in innovations - Mayaki

ITRealms:

The chief executive officer (CEO) of the NEPAD Agency, Dr Ibrahim Mayaki, has declared that “The best way to believe in the future for Africa, is to believe in our innovations and in our innovators,” reports ITRealms.

Mayaki in a keynote address at an event held to showcase African innovations as part of the commemorations for Africa Day, said that this year the NEPAD Agency also celebrated the innovations that entrepreneurs on the continent are developing, under the African Union theme for 2017, Harnessing the Demographic Dividend through Investments in Youth.

Additionally, Dr Mayaki said it’s a time for reflection, celebrating the progress made by Africans, while also reflecting on the common challenges and solutions the continent needs in a global environment.

Africa has the youngest population in the world, and it is this population that will supply the much needed human capital and innovations in the years to come, even as the continent becomes more industrialised. Even as the continent faces the challenges of integration and industrialisation, many are the innovations that young enterprising Africans are developing to redress development challenges.

The exhibition by entrepreneurs at the event in Pretoria, made the case for the myriad of innovations which exist on the continent and need to be up-scaled in providing concrete solutions to some of Africa’s challenges. The young entrepreneurs’ innovations provide solutions in the areas of bioeconomy (including agro-processing and health), climate change adaptive innovations and smart industries (ICTs and advanced manufacturing), to name but a few.

Participants at the event heard from entrepreneurs who showcased innovations from injectable bone graft substitute, to devices that help deaf communities and various other innovations in health, medical, food, beauty, pharmaceutical and manufacturing industries.

“We need innovations to trigger technological developments and other advancements in the framework of Agenda 2063, Africa’s vision for transformation,” Dr Mayaki said.  

He added that, “The skills of entrepreneurs need to be shaped in such a way that as they grow, African economies can also grow, with the drive from the continent’s own innovative solutions.”

Dr Mayaki also stated that the commemoration of Africa Day with The Innovation Hub marks the first step towards strengthening collaboration with the NEPAD Agency.

Also speaking, General Manager for Enterprise Development at The Innovation Hub in Pretoria, South Africa, Ms Teresiah Simelane, said there is no better way to celebrate Africa Day than through innovations.

Chuks Egbune/GEE

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Pix: Entrepreneur showcasing an eco-friendly energy saving stove

Tech on Wheels with CFA debuts on Family Love FM Radio Network

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The city of Lagos is no doubt the hub for most economic and entrepreneurial activities within the country including innovations and developments in and around the Tech ecosystem.

But, the truth is that Lagos State only has a population of about 20 million people out of a total population of about 170 million Nigerians, who also have rights to receive tech-related knowledge which can help them become more productive and possible direct players in this growing worldwide industry.

In order to ensure that other parts of Nigeria are not excluded, Tech on Wheels with CFA will hit the airwaves from the first of July, 2015 on the Family Love FM radio network which has the potential of reaching millions of Nigerians weekly across the following cities; Port Harcourt and environs, Abuja and Environs as well as Umuahia and Environs.

Tech on Wheels with CFA, is a 15 minutes Tech program hosted by Chukwuemeka Fred Agbata Jnr. "CFA" who is the Presenter of Tech Trends on Channels Television and would air every Wednesday as follows:

• 5.15-5.30pm on 97.7 Love FM Port Harcourt

• 6:30-6:45pm on 104.5 Love FM Abuja

• 7:30-7:45pm on 103.9 Love FM Umuahia

All editions of the show will be uploaded on http://www.CFA.ng/radio to cater for those who miss any episode and for those residing in other parts of the world.

The program will feature interesting, educative and inspiring segments such as:

1. Digital Tips: which will focus of content around Productivity Mobile Apps, Internet tips, Internet of things, blogging, making money online and lots more

2. Safety Alert: the biggest challenge with technology today is security, so this segment deals with security, privacy, online scam, phishing, password management and general safety alerts.

3. Everything Tech: A lot is happening in our Tech Ecosystem and this is the segment that deals with Innovation, gadgets, interesting new developments, breakthrough stories, upcoming events etc.  

The show is designed to be unique and inspiring and in line with the CFA style of not being extremely techy – it’s the kind of show anyone, geeks and non-geeks, can tune in to and enjoy.

It is our belief that this new program designed to complement Tech Trends on Channels TV will add more value and further deepen IT knowledge in Nigeria. Stay tuned to Tech on Wheels with CFA and receive knowledge and inspiration tech-wise!

Family Love FM is is the digital radio broadcasting arm of Multimesh Broadcasting Company. A family oriented station with qualitative programming that cuts across all age brackets providing entertainment, Information and education for the entire family.

CFA co-produces and presents Tech Trends, a weekly Tech show on Channels Television. He is the Founder of TECHwithCFA.com and a regular columnist with the Punch Newspaper and DigitalSENSE Business News.

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Etisalat, NCC to boost investments in local innovations

ITRealms

Vice president, Regulatory and Public Affairs, Etisalat Nigeria, Mr. Ibrahim Dikko, at a quarterly seminar organised by the Nigeria Information and Communications Technology Reporters’ Association (NITRA) in Lagos, said it would partner with the Nigerian Communications Commission (NCC) to boost growth of Nigeria’s telecom sector by promoting investments in local innovations as it has increased its subscribers’ base to over 22 million in less than six years of operation, ITRealms reports.

ITRealms gathered that Mr. Dikko, represented by the company’s spokesperson, Chineze Amanfo, noted that to enhance local capacity building in the sector, the company, as part of its innovative strides, instituted the Etisalat Prize for Innovation Award which encourages indigenous software developers to create apps that will enhance the growth of the mobile industry.

Executive Vice Chairman NCC, Dr Eugene Juwah, represented by the NCC executive commissioner, Dr Mike Onyia, ITRealms learnt said that innovation from a regulatory point of view, has catapulted growth in the sector to the height that it has achieved today, with the uncountable number of apps riding on telecom networks.

“NCC adopted technology neutrality in its licensing process to provide opportunity for creativity and innovation in the provision of services. Restriction of service to specific technologies, as we discovered, may not allow for innovation, so we have allowed for choice of technologies for multiple operators using regulatory tools designed to encourage local innovation in the provision of services.” He said.

Juwah, ITRealms learnt, also added that innovation provides mutual benefit to bother the service provider and consumer of the service, adding that NCC would continue to encourage innovations in all aspects of the industry, as it is appropriate to predict that when broadband services become very much available in Nigeria as planned, it will also come with inevitable push for more innovations in the ways services are delivered today.

ITRealms also gathered that Etisalat Nigeria is partnering with the Ahmadu Bello University (ABU), Zaria, in association with Etisalat Academy in Dubai and Billmort University, United Kingdom to train Nigerian engineers towards developing a pool of manpower for the telecom industry.

Daniel Nsolibe/Ed, Ops.

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NITRA assembles ICT stakeholders for innovation seminar

ITRealms:

Stakeholders in the Telecoms sector of the nation’s economy are set for an industry seminar aimed at charting the way forward in deepening the level of local innovations development in the nation’s telecoms industry, ITRealms reports

The event, a brainchild of the Nigeria Information and Communication Technology Reporters’ Association (NITRA), is the maiden edition of the Quarterly Telecoms Seminar Series of the association.

Speaking in a press statement made available to ITRealms, NITRA President, Mr Emmanuel Okonji, said the Quarterly Telecoms Seminar Series has been conceived to create a platform for cross-fertilisation of ideas on topical issues among industry stakeholders both from the public and private sectors with a view to proffering panaceas to some thorny issues and design templates for leveraging latest development in the industry for growth.

With the theme: “Engendering Local Innovation in the Nigeria’s Telecoms Sector,” the event is scheduled to hold on Thursday, April 30th 2015, at Westown Hotel, Ikeja Lagos by 10 a.m.

ITRealms learnt that the event is being sponsored by the country’s innovative telecoms company, Etisalat Nigeria, the event is also enjoying the supports of other players such as Visafone, MTN, Airtel, Glo, Zinox,Signal Alliance, MainOne, Computer Warehouse Group Plc, Teledom Group, Omatek, Nigeria Internet Exchange Point of Nigeria (IXPN), among others.

Fully endorsed by the Nigerian Communications Commission (NCC); National Information Technology Development Agency, the seminar is backed by other industry associations such as the Association of Telecoms Companies of Nigeria (ATCON) and the Association of Licensed Telecoms Operators of Nigeria (ALTON) ITRealms reports.

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FG splash N24m on 16 inventors

ITRealms:

Federal Government has presented cheques worth N24 million to 16 beneficiaries of the 2013 Presidential Standing Committee on Inventions and Innovations (PSCII) grant, reports ITRealms.

The cheque presentation to beneficiaries, ITRealms gathered was a continuation of nine years support by the Presidential Standing Committee on Invention and Innovation.

Presenting the cheques, the Supervising Minister of Science and Technology Ministry, Mrs. Omobola Johnson while congratulating the beneficiaries on their achievements, described innovation as the lifeblood of any business, any country regardless of social, demographic or economic standing.

She encouraged them to apply the grant towards the next step to their ultimate goal, which is patenting and writing a business plan.

‘‘While the grants that are given to you today are for cry from what you require to take your innovation forward to the next stage which is commercialization and industrialization, I want to encourage you to apply this grant towards that potentially small but important next step to this ultimate goal-patenting, writing a business plan to present to institute that can make substantial funds available to you, making an application to one of our many Technology Incubation Centres in different parts of the country’s capacity building,’’ she said.

‘‘This is how businesses are created and how they thrive and grow. From one innovation or invention from one bright young mind, a viable business is born, jobs are created, people are employed and wealth for nation and for individuals is created.

‘‘Let me congratulate each and everyone of you on this achievement. By receiving this grant, you have in a sense received both an endorsement and a validation of all your efforts. We look forward to receiving about your transition from an innovation to a business.

‘‘For those of you whose innovations and inventions are still in the preliminary or middle stage, we urge you to put in additional effort towards completion on order to provide opportunities to other Nigerians to commercialize and reap the desired benefits from your products,’’ said the Minister.

According to her, vigorous efforts are ongoing to improve the Federal Government’s funding of the PSCII, but added that  collaborations with relevant stakeholders such as Education Trust Fund, Petroleum Technology Development Fund, National Universities Commission, National Board for Technical Education, Raw Material Research and Development Council and the National Planning Commission, are underway to facilitate the achievement of the ultimate goal of the PSCII Programme, which is to provide a solid foundation for a technological break-through in Nigeria.

Earlier in her welcome address, the Permanent Secretary in the Ministry, Mrs. Rabi Jimetta said right from creation, man has always searched for better ways of doing things in order to  ease and improve his standard of living and socio-economic well-being by using things that are available at his disposal.

According to her, the desire to encourage Nigerians, particularly those in the informal sector of the economy that have outstanding indigenous technologies was based on their inventions that could impact positively on Nigerians and the economy.

She listed some of the objectives of the scheme as encouraging invention and innovation in technology; to examine ay research claims and assess what can be done to take such claims to prototype and commercial level and to suggest how funds could be sourced to finance the various stages of development from inception to prototype and commercialization.

On his part, the Secretary, PSCII and Director of Technology Acquisition and Assessment, Dr. Adeyemi Talabi commended the inventors for their relentless ingenuity, tenacity and commitment to industrializing the country through various researches in science and technology.

He urged them to take advantage of the research outcome to advance the country technologically, through commercialization drive, wealth creation and employment generation. 

Speaking on behalf of other beneficiaries, Mr. Momodu Shaka, who invented an auto fire extinguisher expressed gratitude to federal government and promised to use the fund to translate their inventions into commercial scale. 

The 16 beneficiaries had gone through a careful and rigorous screening and selection process that included 399 applicants (innovators and inventors).

So far, 117 innovators and inventors across the six geo-political zones of the country have received grants ranging from N250,000 to N3 million from this initiative, in addition to the sixteen innovators/inventors that benefited from the 2013 edition of the PSCII grant, that scaled through the operational guidance of the PSCII through the selection process.

Most of the inventions were on automobile, health research, climate change, power sector, agro business among others.

The scheme was established by the Federal Government in October, 2005 to encourage and promote inventions and innovations in Science and Technology from the informal sector of the economy, while also stimulating the interest of Nigerians to use Science, Technology and Innovation tools for national development.

Kingsley Opurum
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Pix: Mrs. Johnson, supervising Minister, Science & Tech