Connect with us

IT and Telecomms

Broadband, Other Digital Economy Interventions Key To Financial Inclusion for Nigerians- Prof Danbatta

Published

on

, SiliconNigeria

The Executive Vice Chairman of Nigerian Communications Commission, (NCC), Prof Umar Danbatta said that broadband penetration, Subscribers Identity Module (SIM) registration, its linkage to the National Identity Number (NIN) and other digital economy interventions of federal government are targeted at ensuring digital financial inclusion for majority of Nigerians. 

Danbatta said this while delivering the Bullion Lecture 2021 Edition organised by the Centre for Financial Journalism (CFJ), Lagos, with the theme: Driving Persuasive Broadband Penetration to Deepen Digital Financial Inclusion for Nigeria’s Socio-economic Transformation. 

 According to him, embracing the existing telecommunications infrastructure in Nigeria is imperative to achieving economic prosperity. He noted that digital financial inclusion through leveraging on telecommunications infrastructures is pivotal to taking Nigeria out-off poverty, close the gap of unbanked Nigerians.

To this end, he said this was why Federal Government directed that all citizens must have National Identification Number (NIN), and Subscribers Identity Module (SIM) linked for ease of identification and tracking.

The EVC added that, “financial inclusion is considered a key enabler to reduce extreme poverty and boost shared prosperity and countries with high mobile money account ownership have less gender inequality.”

He noted that, the statistics of unbanked people has remained the way it is because formal financial services are unavailable to certain categories of people.

“It should be emphasised that the need to boost inclusiveness with respect to access to financial services necessitated the paradigm shift by most countries from simply pursuing financial inclusion to focusing more on digital financial inclusion, by leveraging the digital platforms to provide tailored-made, low-cost financial services to people that are excluded from the formal financial services circle.

“Digital financial inclusion, thus, has the following characteristics: no bank account needed; use of agents for cash in and cash out; and use of mobile handsets and other digital means for transactions.

Danbatta also said that over $70 billion have been invested in telecommunications infrastructure deployment in Nigeria since the liberalisation of the industry in 2001.

He noted that the amount represented a larger chunk of local and Foreign Direct Investment (FDI) attracted into the sector within the period. And the investment in infrastructures has boosted the economy and provided more opportunities for more Nigerians have access to telecoms services. 

“Today, the number of active telephone lines being used by Nigerians has significantly increased from about 400,000 in 2001 to over 204 million as of December 2020”, he added.

He also listed several steps taken by NCC in collaboration with the Central Bank of Nigeria and other critical stakeholders to deepen financial inclusion in Nigeria, saying that 73.2 million adults representing 41.6 per cent of adults population in a country of 190 million citizens are still financially excluded.

He noted that the development and other statistics raised concerns about addressing poverty and inequality issues especially in relation to opportunities available for women. 

He further said that the Commission had over the years taken measures to confront several challenges, asserting that when he assumed office, broadband penetration was about 10 per cent, stating that as at December 2020 it has peaked at 45.02 per cent.

“Closely linked with this, is the effort of the Commission in ensuring that all Subscriber Identification Module (SIM) cards in the country are properly registered.

“As pointed earlier, as of December 2020, there were over 204 million active mobile SIM numbers across licensed mobile networks in the country. To this end, the NCC ensures regular audit of the subscriber database of the MNOs to ensure there are no anonymous mobile subscriber on their networks,” he said.

Furthermore, the EVC also noted that, “This effort has helped to improve the customers’ Know Your Customer (KYC) in the financial services. Indeed, the mobile number has become a requirement for accessing financial services and helped to enhance confidence in the system.

”NCC is working to ensure proper harmonisation of subscriber data into the national citizen database being statutorily managed by the National Identity Management Commission (NIMC).

“More importantly, the ongoing SIM-NIN Linkage exercise will further improve credible identity management for national planning purposes, socio-economic transformation and for other legal commercial activities.

“Also, to bridge the current access gaps and in order to provide enough SIM numbers that can be used by Nigerians in this era of new and emerging technologies, where most devices and things would be connected within the Internet of Things (IoT) ecosystem, requiring more SIM cards to be used, the NCC, as a proactive regulatory agency, has developed a new numbering plan (NNP) that will serve the needs of 500 million connected Nigerians for the next 30 years.

“The NNP would, among others, help to provide numbers that would satisfy the needs of the projected one billion globally-interconnected machines and devices by 2050; promote efficiency in the allocation of the scarce national resource; promote competition among service providers; and eliminate the risk of running short of all categories of numbers.

According to him, no doubt, the financial services sector will benefit hugely from this regulatory measure, as it will facilitate the introduction and development of innovative services across different sectors of the economy with the financial services sector being one of the beneficiaries.

He also reiterated that while 1.7 billion adults worldwide do not have a bank account, 1.1 billion among them have a mobile phone, according to ITU. As such, developing countries are capitalising on the widespread use of mobile phones and ICTs, in general, to bring all people within reach of financial services and out of poverty.

“As has been made abundantly clear in the lecture, digital financial services have great potential to give previously ‘unbanked’ people the ability to save, make payments and access credit and insurance allowing them to manage an irregular income stream, plan for the future, recover from economic shocks and natural disasters and find new ways to earn a living.”

Continue Reading
Advertisement Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

IT and Telecomms

How NCC Will Achieve 70% Broadband Penetration Target- Danbatta

Published

on

, SiliconNigeria

The national target to achieve 70 per cent broadband penetration by 2025 is receiving renewed attention from the Nigerian Communications Commission (NCC), which promises 50 per cent before the end of 2023.

This promise was one of the highlights of the special media chat with executive editors and media chiefs in the northern part of the country, hosted by the Executive Chairman of the Commission, Prof. Umar Danbatta, to unveil his achievements since the resumption of office till date.

At the occasion, where Danbatta informed the media chiefs that Fifth Generation (5G) services subscriptions have already hit half a million in subscription, the various efforts of the Commission to improve broadband penetration are yielding fruitful results with the current estimates as at July 2023 standing at 47.01 per cent.

Using the extant reviewed five-pillar Strategic Vision Plan as building block, the EVC spoke to 119 milestones achieved under the five strategic pillars, including regulatory excellence, universal broadband, market development, digital economy and strategic collaboration.

Danbatta said through effective implementation of NCC’s mandates under his leadership and cooperation of internal and external stakeholders since 2015, telecommunications industry in Nigeria has achieved remarkable milestones under our leadership. “While we acknowledge the challenges encountered by the industry, we have also witnessed explosive growth, improved regulatory standards, and digital innovations that have garnered global recognition,” he said.

While reeling out impressive statistics that have characterized his leadership at NCC from 2015 to date, the EVC said active telephone subscribers had increased from less than 150.7 million to 218.9 million, representing a teledensity growth of 115.70 per cent from 107.87 per cent in 2015.

Through stimulating broadband infrastructure across the country, Danbatta said broadband penetration, which stood at 6 per cent in 2015 has increased significantly to 47.01 per cent as of July, 2023, enhancing over 89.73 million subscriptions on 3G, 4G and 5G networks in the country. Additionally, general Internet subscriptions have reached 159.5 million up from less than 100 million in 2015.

“Also, from 8 per cent contribution to the Gross Domestic Product (GDP) in 2015, telecommunications sector now contributes 16 per cent quarterly to the Nigerian economy as of the second quarter of 2023. besides, following the authorization of more telecommunications companies to operate in the Nigeria’s telecoms sector, the investments profile has increased tremendously from $38 billion in 2015 to $75 billion currently and this keeps growing daily. From the sales of Fifth Generation (5G) C-Band Spectrum, the NCC has generated over $847.8 million for the Federal Government,” he said.

Danbatta, who has received a gallery of awards nationally, regionally and globally in recognition of the outstanding performance of Nigeria’s telecom industry also listed several achievements recorded since 2015.

“Other milestones and initiatives recorded aside the regulatory activities that culminated in the landmark launch of 5G services in Nigeria include the introduction of Spectrum Trading Guidelines, re-farming and re-planning certain spectrum band for efficiency, the emplaced collaborative process for the release of C-Band Spectrum by Nigerian Communications Satellite (NIGCOMSAT) Limited, and introduction of the Expanded Revenue Assurance Solution (ERAS) to address revenue leakages and improve government revenue from the telecoms industry.

“These initiatives also include Licensing of Satellite Earth Stations, issuing of operating licence to SpaceX Satellite, facilitating the landing of additional submarine Cables, such as the Google 2,000km Equiano subsea Internet cable in 2022, listing of MTN on the Nigerian bourse, licensing of Mobile Virtual Network Operators (MVNOs), introduction of new unlicensed millimeter wave spectrum, and regulation of white space spectrum,” Danbata said.

Also as part of NCC’s commitment under Danbatta’s leadership, the Commission has endowed professorial chairs in Nigerian universities and committed over N500 million naira to Research and Development (R&D) in the telecoms sector. “The creation of the Digital Economy Department, the mandate to drive the implementation of the indigenous telecoms sector growth through the operation of the Nigeria Office for Developing Indigenous Telecom Sector (NODITS), are also important strides made by the Commission,” he said.

Danbatta said other consumer-focused initiatives of the Commission have also centered on the establishment of Emergency Communications Centres (ECCs) in over 30 States of the Federation and the Federal Capital Territory (FCT). All these centres are operational, as well as the creation of the Computer Security Incident Response Team (CSIRT). The EVC said these two initiatives have been helping consumers to  get succour in times of emergencies as well as ensuring effective protection for telecom consumers while online.

The NCC Chief Executive said the Commission has also taken very clear actions on consumer protection, advocacy, information-sharing and education. “These include introduction of data roll-over just before the expiration of subscribed data plans, introduction of the 622 toll-free number for lodging service-related complaints to the Commission, the Do-Not-Disturb (DND) 2442 Short Code for tackling the menace of unsolicited text messages,  elimination of forceful/deceitful subscriptions to telecom services on mobile networks, tackling the issue of call masking, ensuring effective Subscriber Identity Module (SIM) registration, launching of National Roaming service and reduction of access gaps to telecom services from over 217 to 97, thereby enhancing access to telecom services by more Nigerians,” Danbatta said.

However, Danbatta said while the industry still faces a number of challenges such as vandalism, securing equitable Right of Way (RoW) from governmental stakeholders, as well as multiple taxation and regulation, the Commission has put framework in place to work with necessary stakeholders to overcome the obstacles posed by these challenges and to sustain the growth trajectory which has been the hallmark of telecoms sector as an enabler of socio-economic development in Nigeria.

Continue Reading

Green IT

NASENI and REA To Deploy Renewable Technologies for Rural Areas in Nigeria 

Published

on

, SiliconNigeria

The Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), Mr Khalil Halilu and the Managing Director/CEO of the Rural Electrification Agency (REA), Mr. Ahmad Salihijo Ahmad have agreed to work together to deploy NASENI Solar resources and other renewable energy technologies, to increase electricity supply to Nigeria’s rural areas.

This commitment was the outcome of discussions between the two chief executives in Abuja recently when the EVC/CEO of NASENI visited the Rural Electrification Agency (REA) office as part of his efforts to engage with stakeholders to promote the adoption of NASENI’s technologies.  

Mr. Halilu, who assumed office two weeks ago as NASENI’s chief executive, said, “The focus is to hit the ground running by nurturing effective collaborations with the right stakeholders who will assist NASENI to fulfil its mandate of providing the science and engineering infrastructure base for Nigeria’s businesses and economy to thrive.” 

According to him, “The strategy, going forward, for NASENI includes knocking on the doors of potential end-users of the Agency’s technology and engineering products, making off-take of our Research & Development (R&D) easy, while also bringing the direct impact of our work to bear on the Nigerian economy.”

The two chief executives pledged to work together to bring down the cost of solar power installation in rural areas, through efforts such as increased local production of solar panels by NASENI. The overall goal, according to the REA MD, Ahmad Salihijo, is to facilitate the Federal Government’s ambition to achieve the electrification of Nigeria’s rural areas in record time.

Continue Reading

Internet

Anakle Films Releases $1m Nigeria Movie,The Black Book on Netflix 

Published

on

, SiliconNigeria

Anakle Films has released Nigeria’s biggest-budget film to date, The Black Book, debuting on Netflix. The film, with a budget exceeding $1 million, features an ensemble cast of Africa’s most well-known actors, including Richard Mofe-Damijo, Alex Usifo, Sam Dede, Taiwo Ajayi-Lycett, Denola Grey, Shaffy Bello and Ireti Doyle.

 The Black Book delves into a fictional narrative that explores the West African country’s conflicted history, including military dictatorship, drug trafficking, and politics, through a retired hitman’s journey to seek justice.

Directed by Editi Effiong, The Black Book details the fictional story of Paul Edima, a former military and drug cartel hitman in Nigeria who cemented his legend with an unparalleled record of assassinations, coups, abductions and drug operations.

Faced with the hard choice of going back to kill a female journalist’s child whom he had spared or losing his own life, the protagonist wagers with his boss, giving up a legendary ledger called ‘The Black Book’, which details incriminating evidence against Nigeria’s corrupt elite in exchange for his life and the child.

After walking away to live a quiet life for 30 years, Edima is forced back to seek justice when his only son is killed by a gang of corrupt policemen, SARS, in an attempt to cover up the crimes of a politician’s son.

The Black Book Director Editi Effiong says, “Nigeria has a complicated but fascinating past. What we aimed to do with The Black Book was to provide historical and cultural context through a fictional, entertaining lens. Great storytelling is universal; this African story will resonate worldwide. Developing The Black Book and reimagining the Nigerian cinematic experience has been incredible; we’ve had world-class actors and the chance to incorporate amazing sets and large-scale location shoots to bring this Nigerian narrative to life.”

In a significant move, Anakle Films has acquired RMD Productions Limited, founded by Nollywood icon Richard Mofe-Damijo, who now joins the board of directors at Anakle Films. This partnership reinforces Anakle Films’ commitment to fostering talent and innovation in Africa’s film industry. This acquisition has resulted in a 14-project slate for Anakle Films, including films and television series cutting across romcom, action thriller, drama and other genres. The first of these will go into production in the first quarter of 2024.  

Richard Mofe-Damijo, who joins Anakle Films as Chairman, says: “The journey to ‘The Black Book’ was a transformative one for me, both professionally and personally. Meeting with Editi Effiong and embracing the physical and emotional demands of my role was an invigorating challenge that took me to new heights. As I step into my new position at Anakle Films, I’m excited to contribute to the growth and innovation of African storytelling. We have a rich history and vibrant culture that deserve to be shared with audiences far and wide. ‘The Black Book’ is an example of what we can achieve, and I believe it’s only the beginning of what’s to come.”

Continue Reading

Popular News