Ict/Telecom

Insecurity: Experts Task FG On Forensic Technology

Published

4 years ago

May 5, 2021

As Nigerians live under siege and apprehension, experts under the auspices of Chartered Institute of Forensic and Investigative Professionals of Nigeria (CIFIPN), has called on the Federal Government to use forensic technology to tackle rising insecurity.
The call was made in a welcome address by the protem President, CIFIPN, Dr. Enape Victoria Ayishetu, at a press conference held in Abuja, with a theme, ‘Deploying Forensic Science to tackle Insecurity, Corruption, Fraud, and Cyber-Crimes to Prevent a Looming Devastating Effect on Nigerian Economy’.
Ayishetu who expressed concern over the spate of criminal activities said drastic action is required by the government to prevent escalation of the trend of violence and economic recession.
She also asserted that fight against crimes and insecurity in the country would remain a mirage if the government continues to apply the same strategy and approach.
She said: “One of the biggest problems confronting Nigeria today is insecurity, fraud, corruption, and cyber-crimes. Crimes of all kinds like killings, kidnappings, social media harking, cyber crimes, fraud, and corruption have been technologically enabled and what that means is that there is a need for a technologically enabled system to prevent these.
“This cankerworm has eaten deep into the great fortune of our dear nation over time resulting in economic challenges like underdevelopment, rising unemployment situations, retrenchments, collapse of corporate organisations, banks, poor infrastructural development, and decay as well as national insecurity.
“Sometimes, one gets disappointed looking at the position or state of affairs of the Nigerian economy as at the moment, with particular reference to the above-mentioned ills.
“It has been quite embarrassing that in our very eyes as Professional Forensic Investigators in Nigeria, our country is descending into destruction day by day while the security situation has gone worst, and it will be very hard to repair if this is allowed to continue.
“Nigeria is currently sitting on a time bomb that can detonate at any time if the right thing is not done urgently by embracing the use of forensic science and technology.
“The Chartered Institute of Forensic and Investigative Professionals of Nigeria is actually on a rescue mission if giving a legal backing. Those who do not know should please know it now, and ensure this indispensable body is giving legal backing without further delay.
“This is so because Chartered Institute of Forensic and Investigative Professionals of Nigeria that should assist the government in putting preventing all these ills have not been given legal backing to enable them to do their job in Nigeria.
“It is high time Nigerian government starts (started) looking beyond the normal ways of doing things. Crimes and criminalities are committed with technological tools, and that has made it sophisticated to handle.”

“It is no doubt that forensic is the last hope of this country, Nigeria if the issue of insecurity must be put to rest, because with forensic investigation, fraudsters, corrupt personalities who have contributed in putting the country into this mess will be brought to book, and those that are planning to go into same evil or crimes will be prevented with the use of forensic science and technology.
“Therefore, the use of forensic in dealings and preventing the menace cannot be over-emphasized.”
She called on the National Assembly to consider passing the Chartered Institute of Forensic and Investigative Professionals of Nigeria, CIFIPN, Bill into law for national interest that would salvage the worrisome situation the country finds itself.

Ict/Telecom

Technology, Others Responsible For Nigeria’s Bonga Oil Operations

Published

1 year ago

May 15, 2024

The Tide

The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.

Ict/Telecom

Banks Cut Borrowing From CBN By 44%

Published

1 year ago

May 15, 2024

The Tide

Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.

Ict/Telecom

Expert Highlights Technology Impact On Fintech Industry Growth

Published

1 year ago

May 15, 2024

The Tide

A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.

Corlins Walter