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Expert Gives Reasons For Malfunction Of ATMs
An economic expert, Prof. Uche Uwaleke, has called on the Central Bank of Nigeria (CBN) to remove old and dirty notes from circulation.
Uwaleke, an Associate Professor of Banking at the Nasarawa State University, said such notes were causing constant malfunctioning of Automated Teller Machines (ATMs), especially during pressure periods.
He said this in an interview with newsmen in Abuja, recently.
The Tide source had reported in a national survey on challenges faced by bank customers in cash withdrawal at festive periods that hundreds of Nigerians complained of machine failure, slowness and long queues.
According to the source these happened at a time when people were eager to withdraw their savings to celebrate, many of them left frustrated due to the challenges. Many of the banks in some states do not have enough ATM machines to take care of the needs of the people and the ones available break down when they are put on constant use. To proffer solution to these, Uwaleke urged the CBN to ensure that banks did not use worn-out notes in the ATMs.
“Abroad, the ATMs are used to dispense new ‘mint’ notes, so when you use dirty notes, the machine finds it difficult to recognise it or even dispense it.
“The money in the ATM is what these banks get from the CBN and you will agree with me that most notes in circulation today are dirty and old.
“As a customer, when you complain about the condition of the bank notes, the banks will just tell you that is what they have.
“So CBN should try and ensure that dirty notes are withdrawn from circulation and replaced with new ones, especially during festive periods,” he said.
Uwaleke said that the banks should be made to provide more ATMs around the country because no matter how good the machines were, they would be ineffective when put under too much pressure.
“Banks should be made to provide more ATMs. ATMs are bound to break down when it is put under pressure. It’s just like using your generator 24 hours non-stop.
“When more ATMs are made available, they will help to reduce the long queues normally experienced during festive periods and also serve to ease pressure on a particular ATM so that it doesn’t get overworked.
“Banks should also make sure that there is staff readily available at any point in time to attend to issues arising from the breakdown of these machines.
“I know some banks dedicate workers during these periods and even on weekends but not all of them. Banks should be encouraged to do more,” he said.
Uwaleke also advised the CBN to continue to sensitise the public to cashless policy and use of electronic payment methods.
“We must not buy all our things using cash and that is why we have long queues. The idea of using POS should be encouraged.
“CBN should continue to enlighten people on the importance of using POS during these period so that even if you are to withdraw cash, it’s just little that you need.
“Let the bulk of your purchase be done electronically. If all these are done, we won’t be having much of these complaints again,” he said.
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.
Ict/Telecom
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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