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Cashless Policy: CBN, NIGCOMSAT Partner On Internet Access
The Central Bank of Nige
ria (CBN) has said it has concluded plans to partner with Nigerian Communication Satellite (NIGCOMSAT) for the provision of wireless internet service.
The CBN Principal Manager, Shared Services, Mr Aaron Yaduma, said that the measure was to give necessary push to cashless policy in the country, last Tuesday.
Yaduma made this known in a paper titled: “Cashless Policy, the Journey So Far”, presented at a three-day sensitisation workshop on CBN cashless policy in Bauchi on Tuesday.
He said that the effort was to address the internet connectivity problem, being one of the major challenges affecting the implementation and penetration of the cashless policy in the country.
“A tripartite MoU has been drafted for NIGCOMSAT, CBN and Nigerian Interbank Settlement System (NIBSS) for the provision of the Wi-Fi hotspots.
“If the partnership arrangement is concluded, we hope to connect every part of this country with internet service via Wi-Fi hotsport.
“We have already commence discussion with NIGCOMSAT to see how we can make General Packet Radio Service (GPRS) technology available in rural areas for the deployment of Point-Of-Sales (POS) terminals,’’ he said.
Yaduma said that the cashless policy was introduced in 2012 with the main objective of reducing the amount of physical cash circulating in the economy through the encouragement of more electronic-based transactions.
He said that the policy was introduced for a number of key reasons, namely to meet Vision 2020 requirements, modernise Nigeria’s payment system and reduce the cost of banking services.
According to him, it is also to improve effectiveness of monetary policy, reduce high security and safety risks and foster transparency and curb corruption.
He said that besides internet connectivity, people misconception of the policy and fuelled conspiracy theories amongst stakeholders had also hampered the adoption of the policy.
“There was also resistance due to prevailing cash culture, Techno-fobia , Illiteracy, entrenched poverty, insufficient infrastructure, distrust in banking system and merchant apathy, “ he said.
He, however, said that steps were being taken to address all the challenges, adding that the cashless Nigeria project was gaining massive adoption rate across the nation, especially with the support from Federal and State governments.
Earlier, the CBN Branch Controller in Bauchi State, Malam Musa Muhammad, explained that the essence of the workshop was to sensitise and educate all stakeholders on the gains of the cashless policy.
He added that the sensitisation would also be carried out in 30 states of the federation where the policy was designed to take effect.
He called on the government, markets associations, community leaders, professional bodies, religious organisations, students to embrace the policy for its advantages.
Some of the participant who spoke to newsmen expressed worry that the policy will not favour a lot of people due to low level of education and access to electronic gadgets.
Mrs Maryam Gamzo, the Chairperson, Market Women and Men Association in the state, said the policy would be at a serious disadvantage to market women because of their low level of literacy.
“Our women only understand the business of pay cash and carry, and now they are telling us to use machines instead of cash. Without money how are we going to buy goods from the villages.
“Again, if our customers stopped using money to make purchases, how do we know if we are making profit or not and what do we take home at the end of the day,’’ she said.
Another participant, Malam Yakubu Bayara said that the policy would only succeed in major towns and not in the rural areas.
According to him, in the rural areas the purchasing power is between N20 to N200 per day, and the illiteracy figure is very high.
Ict/Telecom
NCC Assures Safe, Accessible Digital Space
The Nigerian Communications Commission (NCC) has assured Nigerians of accessible, resilient and safe digital space in the nation’s digital economy.
The Executive Commissioner, Stakeholders Management, NCC, Rimini Makama, gave the assurance at the NCC’s Digital Economy Sensitisation Forum, with the theme, “Leaving No One Behind: Digital Access, Equity and Empowerment” in Abuja.
Makama said that the commission remained committed to ensuring that Nigeria’s national telecommunications infrastructure remained resilient, accessible and secure.
“Digital empoScientists Advocate Shared Responsibility To Boost Food Securitywerment must be inclusive. Without inclusion and equity, the benefits of the digital economy will remain unevenly distributed.
“The commission, through its Universal Service Provision Fund (USPF) and other initiatives, is actively extending digital opportunities to the unserved, underserved, physically challenged and vulnerable groups through several impactful programmes,” he said.
The Publicity Expert for the Association of Telecommunications Companies of Nigeria (ATCON), Dr Nihinlola Fefa, said that the association had been an advocate of cyber security awareness and sensitisation over the years.
“ATCON has been a very key stakeholder in the ICT and telecom industry. We have always advocated for cybersecurity awareness and sensitisation.
“We have been giving our own input over the years. We interface with all the telecom companies. We do a lot of studies, and we also give our contributions in so many ways,” she said.
She commended the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, for deploying technology into rural communities.
According to her, though Nigeria is doing well in the area of cybersecurity, there is room for improvement.
“We are in a good position right now and we can do better from the government side,” she said.
Also speaking, the Head, IT and Cybersecurity, National Data Protection Commission (NDPC), Olorunisomo Isola, said that the commission had rolled out the necessary framework.
Ict/Telecom
Expert Tasks Nigerians On AI
An economist, Dr Chinedu Amadi, has urged Nigerians to leverage the opportunities inherent in Artificial Intelligence (AI) to become competitive in the global business and social spaces.
Amadi, who is also the President, Organisation of Youth in International Trade and Commerce (OY-ITC), gave the urge during an interview with newsmen , in Abuja, Monday.
Amadi noted that humanity has always advanced by expanding its intelligence and capabilities through technology across different eras pointing out that AI now drives economic systems, social interactions and competitive advantage among nations globally.
“The world is entering a phase where humans and intelligent machines will share cognitive functions, so Nigeria should innovate or risk being sidelined in the emerging global digital order.
“The next frontier extends beyond AI tools to a deeper relationship between human consciousness and machine intelligence. This phase has the dawn of shared human machine cognition shaping future innovation and development worldwide,” he said.
Amadi noted that countries like the U.S., Japan and China already integrated AI into national planning, logistics and defence operations.
He warned that a deeper wave of collaboration between humans and intelligent systems is rapidly emerging
urging Nigeria and other African nations not to remain passive observers in this technological transition.
“Nigeria must innovate urgently or risk missing another major industrial revolution. Future global leadership will favour nations that create, regulate and ethically manage advanced technologies,” he added.
He said that the youthful population is viewed as a potential cognitive economy capable of driving digital creativity.
He advised policymakers and institutions to develop indigenous technologies, reflecting national priorities and moral values.
The president, however, noted that energy and agricultural sector can gain efficiency through predictive AI and advanced computation, adding that governance can also benefit from digital systems that strengthen transparency and curb corruption.
While noting that neural interfaces and quantum processing would soon merge human thought with computationAmadi said that the evolution demands ethical guidance, empathy and deeper human conscience in education system.
According to him, nations worldwide are racing to regulate AI and Nigeria also needs to define its strategic position.
“The future beyond AI will favour societies that balance innovation with wisdom and uphold human dignity,” he said.
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NIGCOMSAT Expands Nigeria’s Digital Broadcast Subsector By 35%
The Nigerian Communications Satellite (NIGCOMSAT) Limited says the country’s digital broadcast subsector has expanded by 35 per cent to 75 per cent utilisation in two years.
This, it said, represented a milestone in the country’s digital transformation drive.
The Managing Director, NIGCOMSAT, Mrs Jane Egerton-Idehen, made the remark at a retreat with the theme: ‘Aligning for the Future: Innovation, Collaboration, and Sustainable Growth”, in Abuja, Monday.
According to her the theme reflects NIGCOMSAT’s commitment to driving Nigeria’s digital transformation and positioning itself as a global satellite industry leader.
She said one of the notable achievements in its broadcast segment was the Digital Switch Over (DSO) project, describing it as not just a technical milestone but also a national service.
“This growth is a testament to the organization’s improved service delivery and stronger engagement with partners and clients.
“The DSO project, a collaborative effort with the National Broadcasting Commission (NBC), is a key milestone in Nigeria’s digital transformation.
“NIGCOMSAT’s contribution to the project is enabling digital broadcasting penetration across the federation, cementing the organisation’s position at the centre of Nigeria’s digital transformation,” she said.
Egerton-Idehen said the achievements were expected to drive revenue growth, with target of three billion naira in annual revenue and eight billion naira in revenue within three years adding that the organisation’s expansion of broadband services and private sector partnership was key to achieving the goals.
“We cannot move boldly into the future without addressing the weight of the past. Our debt profile — both financial and operational — is a reality we must confront with strategy, discipline, and creativity.
“These are our headwinds. We acknowledge them openly because honesty is the first step toward transformation.,” Egerton-Idehen said.
She said in spite of challenges such as economic barriers and competition, the organisation remained optimistic about the future.
“We must out-innovate the market, deepen partnerships, and build a culture of solution-focused, profit-driven, and people-centered excellence.”
“The key initiatives include transitioning to software-defined satellites, expanding broadband services, and the NIGCOMSAT Accelerator for the Space Ecosystem.
“The organisation is prioritising public-private partnerships, branding, and communication, as well as investing in its people,” she said.
The Chief Executive Officer, Data Science Nigeria, Olubayo Adekanbi, said satellite-based economy could revolutionise key sectors such as agriculture, health, and education, creating new job opportunities and increasing productivity.
“By providing internet access to remote areas, satellite technology can bridge the digital divide and ensure no one is left behind.
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