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Aisha Ahmad, Bank CEOs Launch NIBSS’s NQR Contactless Payment Solution

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Photo L-R: Temidayo Adekanye, Chief Risk Officer, Nigeria Inter-Bank Settlement System (NIBSS); Christabel Onyejekwe, Executive Director, Business Development, NIBSS; Premier Oiwoh, Managing Director/CEO, NIBSS and Niyi Ajao, Deputy Managing Director, NIBSS at the official launch of the Nigeria Quick Response (NQR) payment solution powered by NIBSS on Monday 15th, March 2021 in Lagos.

The Deputy Governor of the Central Bank of Nigeria (CBN) Financial System Stability, Aisha Ahmad who also doubles as the chairman of Nigeria Interbank Settlement System (NIBSS) alongside bank chief executives have launched the NQR (New Quick Response); payment solution that enables contactless transactions through the use of a QR code.

The innovative payment platform is being implemented on behalf of all financial service providers. The New Quick Response code solution offers a robust platform that delivers instant value for P2B and P2P transactions by simply scanning to pay.

It is a solution that will unify the available closed QR Code schemes in the country for consistent user experience and accelerated digital adoption. This Payment Solution designed to be “low cost” for merchants would see shoppers scan a QR code generated by a seller to pay for an item.

Each code will have unique details containing the information relating to the transaction and would link with a customer’s Banking App, already enabled on their smartphone.

Delivering the keynote address, Aisha Ahmad said the Nigerian payment system has evolved significantly over the past decade with its widespread technological advancement supported by deliberate enabling regulations which have facilitated the growth and proliferation of innovative financial products, services, and channels.

She pointed out that Nigeria has leapfrogged several advanced economies in the area of payment and financial innovation. According to her, the Covid-19 pandemic has also accentuated the situation with more opportunities for financial institutions and other players within the payment ecosystem to innovate and provide more options for payment and settlements.

“Globally there has been a major shift to contactless payment options with a number of countries like China, Thailand, Malaysia, India, Singapore, Ghana, and Nigeria pioneering groundbreaking solutions in this regard. Many of these countries have developed common QR standards to facilitate the development of a robust contactless payment system.”

CBN’s Framework for QR Code

The deputy governor said the CBN in response to this market development released the framework for QR code payment in January 2021 as part of efforts to further deepen the adoption of electronic payment in the country. The framework stipulates acceptable standards for implementation and interoperability roles and responsibilities of participants for QR code schemes in the Nigerian payment systems amongst others.

While highlighting the benefits of the new product she said, the NQR payment solution coming soon after the QR framework will breach an important gap within Nigerian’s fast-evolving payment landscape.

“It unifies QR code schemes across the country, offers some robust payment platform that delivers instant value for P2B, and B2B transactions offer flexible payment options for customers and a much-improved customer experience. The scheme will also allow a more convenient and efficient integration process leveraging API.”

She further assured merchants of the safety of the system disclosing that the NQR will provide merchants with a centralized QR code management system. 

All of this is expected to reduce the cost of financial services, deepen financial inclusion and grow economic and business activities to increase payment activities at the merchant outlets.

In line with global best practice, the NQR payment solution is based on the EMB QR code specification who provides some comfort on the security of the platform and its flexibility and customizability ensuring that the solution is incorruptible and internationally recognized and accepted. Whilst commending NIBSS for this trailblazing achievement.

She reiterated the CBN’s commitment as a regulator of the banking and payment system to provide and enable a regulatory environment that ensures interoperability, proper market conduct, and continued innovation within the financial services ecosystem to foster healthy competition, high-quality services, and financial inclusion.

“The bank recently released the regulatory framework for sandbox operations in Nigeria and the guidelines of open banking with the objective to open up the terrain for more transformational ideas and encourage more start-up companies to grow and contribute to the overall economic development in Nigeria.

Ahmad enjoined critical stakeholders in the payment ecosystem to enlighten and educate the public about this innovative platform for enhancing contactless and seamless payment solutions within the Nigerian payment system.

What the Banks CEOs Said

Also speaking on the NQR, the Managing Director and Chief Executive of First Bank, Adesola Adeduntan noted that the evolving of the digital payment space is leading to a lower cost of transaction which will eventually be passed on to customers.

On his part, the Managing Director and Chief Executive of Zenith Bank, Ebenezer Onyeagwu noted that the NQR code is interoperable and it is a straightforward process in terms of connection to banks. “It is faster in terms of process of payment and when compared to conventional cards. It is cheaper and faster and cost effective for everyone.

Also, Managing Director and Chief Executive of Access Bank, Herbert Wigwe noted that “we are getting to a point where electronic payment are truly safer and better than cards this means that customers funds are safer.”

He furthered that it will reduce importation of POS terminals which are currently being imported from china and other countries, adding that if adopted, “it will reduce the demand thus we no longer need foreign exchange to import devices. Whilst card remain a global solution, the NQR is homegrown and showcases the Nigerian talent in tech development in payment space.”

Premier Oiwoh’s Vision of Payment Landscape

On his part, the CEO of NIBSS, Mr. Premier Oiwoh said, “with more people being able to pay for goods and services with just their smartphones, the NQR Payment is about re-creating the Nigerian payment experience whilst deepening financial inclusion in the country. Digital transactions supported through the NQR code payments will promote and enhance consumer payment experience while driving growth for business owners.”

This payment solution made available by Banks and other financial institutions has been hailed by financial experts as the ‘Future of Payments’; it will unlock a wealth of extra benefits that will transform the way Nigerians choose to pay for goods and services at all levels. 

As consumers and merchants’ alike move towards technology-driven solutions, QR Codes are growing increasingly important. Nigeria demonstrates yet again that it has a forward-looking financial services industry, as it drives towards a truly cashless and contactless society with NQR.

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MTN Foundation Launches Skills Academy to Train 3 Million Nigerians

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The MTN Foundation has officially launched its Skills Academy, a transformative digital learning platform designed to empower millions of Nigerians with access to digital and financial skills essential for the 21st-century economy. The launch event, held at the Transcorp Hilton in Abuja, brought together top government officials, education stakeholders, and technology experts, reinforcing the importance of public-private collaboration in building a digitally inclusive Nigeria.

The platform, available at skillsacademy.mtn.com, is open to individuals aged 13 and above, whether in school, recently graduated, self-employed, or unemployed. It also features a career guidance tool to help secondary school students and other users explore pathways aligned with their strengths and market demand.

With youth unemployment over 6% and more than 18.3 million children out of school, according to the latest data from the National Bureau of Statistics (NBS) and the United Nations Children’s Fund (UNICEF), Nigeria faces a pressing need to close the digital skills gap. The Skills Academy directly responds to this challenge by offering free, self-paced courses and certifications in high-demand areas such as data analysis, software engineering, digital marketing, and project management.

In her welcome address, Dr. Mosun Belo-Olusoga, Chairman of the MTN Foundation (represented by Simon Aranonu, Director of the MTN Foundation), stated, “We believe digital skills are a truly powerful asset. No Nigerian youth or child should be left behind because of their socioeconomic background. This platform is designed to provide world-class learning experiences, helping Nigerian youth thrive and become future leaders.” To date, the platform has over 7,000 people learning and over 3,000 courses completed, setting a strong foundation for nationwide scalability.

The Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, in his keynote, described the platform as “unique and critical.” “Nigeria is a country that is extremely blessed. With an average age of just 16.9, we are one of the youngest populations in the world. This program is not just about training; it’s about equipping a generation that will drive innovation, deepen our economy, and position Nigeria as a net exporter of tech talent,” the Minister commented.

Odunayo Sanya, Executive Director of the MTN Foundation, added, “We are focused on building Africa’s largest digital talent pipeline. Through relevant and practical courses across various disciplines, offered in collaboration with the global e-learning platform Coursera, this web-based training system will be instrumental in promoting a digitally skilled workforce.”

This initiative is part of the MTN Foundation’s broader Digital Skills for Digital Jobs programme, which aligns with the Nigerian Government’s National Digital Economy Policy and Strategy (NDEPS) and Sustainable Development Goal 4: Quality Education.

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Mike Adenuga@72: The Man Who Democratized Mobile Telephony in Nigeria

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The Guru. Visionary. Pacesetter. Colossus. Transformer.

Happy birthday to Otunba Dr. Mike Adenuga (Jnr.), Chairman of Globacom and Conoil PLC as he marks his 72 years birthday on Tuesday April 29, 2025. Cheers to one Nigerian who bestrides the African business landscape.

A special gift to Nigeria, he is renowned for his business acumen. When it is comes to business, he’s got the vision. He can see good fortune light years ahead while others are still pandering whether it is feasible.

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Dr. Mike Adenuga (Jnr.) is unafraid to venture where others fear to tread.  Fondly called ‘The Bull’ for his fearless and zeal. He’s got this Midas touch that is unparalleled. His boundless energy, philanthropy, native intelligence and wisdom combined stand him out, enabling him to see ahead of others the right sectors and businesses to invest and transform.

Changing Telecom Services Narrative

If there is anyone who single-handedly transformed Nigerian telecommunications industry, that person is no other than Dr. Mike Adenuga (Jnr.). His tenacity to recover his Digital Mobile Licence (DML) which his company won in 2001 mobile auction but was illegally taken away from him, paid off in 2002 when his company, Globacom won the Second National Operator (SNO) licence.

In September 2003, Globacom transformed the Nigerian telecoms market in particular and Africa in general by being the first Global System for Mobile Communication (GSM) operator to launch operations with Per Second Billing, Multimedia Service (MMS), Mobile Internet, in additional to plethora of communications suites simultaneously.

Glo crashed the price of Subscriber Identification Module (SIM) card, leaving other foreign mobile networks scratching their heads in the GSM wars that changed the face of telecom, bringing down the price of SIM Card from N50,000 down to N100 and later to One Naira (N1) only.

Millions of Nigerians became overnight owners of mobile phones lines courtesy of the competition engendered by Glo. Every major step Glo took from the day it commenced operation, other mobile competitors were jittery, helpless and followed the initiative in other to remain in the market.

After establishing the footprints of Glo in Nigeria, Dr. Mike Adenuga (Jnr.), also took the telecom giant to Ghana and Benin Republic with mobile operating licences in those countries. Unsatisfied with the routing of calls from Africa countries to Europe then back to Africa, he built Glo-1, the first international submarine cable system that was solely financed by an individual. Today, Glo-1 links global telecom networks, data centres, banks and Interconnect houses to millions of businesses across the world.

Globacom has going a notch higher with Glo-2 ensuring that Nigerian cities, towns and villages and oil companies are connected to terrestrial fibres through its landing stations in Lagos and Niger Delta.

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Digital Financial Services

Dr Adenuga (Jnr.), a man who can see opportunities from afar, has took the lead in procuring Super-Agent licence for Agency Banking and Mobile Money licence from the Central Bank of Nigeria (CBN) with the establishment of Glo Mobile Money and Money Master Payment Service Bank Limited, a Digital Bank delivering financial inclusion services to Nigerians especially in rural, semi-rural and urban areas thus connecting them to the formal sector.

Oil, Gas Transformations

 He transformed the face of Nigerian oil, banking, and telecommunications industries. In 1991, when oil mining and production was controlled by foreign multinational companies (MNCs), Dr. Adenuga’s (Jnr.) indigenous oil company was the first to start drilling crude oil. Today, Conoil has metamorphosed into one of the largest African-owned oil conglomerates on the continent with footprints in the upstream, midstream and downstream of the oil and gas sector. 

His forays into the bank industry are well documented where he brought a fresh energy and bespoke financial services with Devcom Merchant Bank and Equatorial Trust Bank (ETB) which later merged into Sterling Bank.

Man flowing with Milk of Human Kindness

The humanitarian side of this famous Nigerian billionaire is incomparable. Although, coming from a middle-class family, Dr. Mike Adenuga’s (Jnr.) academic sojourn in the United States of America and the everyday life lessons internalized from his parents, Chief Michael Agbolade Adenuga (Snr) and Madam Oyindamola Adenuga, shaped his worldview and brought out his humane side in the way he deals with people and businesses.

He has been a major supporter of sports, especially football (Nigerian national teams). He has massively sponsored the Confederation of African Football (CAF) Awards for many years. He was honoured the title of Pillar of Football in Africa for his strong support for African Football at both national and continental. He has quietly rendered support to many without seeking media attention.
Through him, Glo sponsors the annual Ojude Oba festival in Ijebuland and also the Ofala festival in Onitsha, Anambra amongst others, promoting Nigeria’s rich culture. He has been major supporting of the Nigerian entertainment industry, turning many Nigerian and Ghanaian actors into instant millionaires through the Glo Ambassador programme.

A lover of education and the arts, Dr. Mike Adenuga (Jnr.) through his companies has sponsored several initiatives such as Glo Campus, and offered scholarships to thousands of the downtrodden to pursue their academic dreams.

 Humble Beginnings

A man of outstanding wisdom, Dr. Mike Adenuga (Jnr.) was born Michael Adeniyi Agbolade Ishola Adenuga on April 29, 1953 at Ibadan, Oyo State. His father was a school teacher while his mother was an outstanding businesswoman.

Dr. Adenuga (Jnr) is an alumnus of the famous Ibadan Grammar School, North Western State University, Alva Oklahoma; and Pace University, New York, both in the United States of America where he majored in business administration with emphasis in marketing. As a student in the USA, he supported himself with jobs as a taxi driver and security guard.

Dr. Mike Adenuga (Jnr) is a visionary leader, an outstanding entrepreneur and and manager of people and resources. He is a man of uncommon intellect and wisdom have helped him overcome difficult times. Today, he sits atop a vast telecom, oil and gas (Conoil), banking and real estate investments.

As Dr. Mike Adenuga (Jnr) clocks 72 years on Tuesday April 29th, 2025, SiliconNigeria.ng wishes him a marvelous birthday and many happy returns in good health in the service of the fatherland.

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Africa’s Tech Skills Development Goes Beyond the Classroom-SAP

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Tech skills development in Africa is increasingly going beyond the borders of the classroom as organisations take novel approaches to addressing pervasive skills availability constraints.

Kholiwe Makhohliso, Managing Director at SAP Southern Africa,  says upskilling and mobilising Africa’s considerable skills base is a defining opportunity for the future success of the continent. “Digital technologies continue to shape industries and businesses throughout the continent, driving high levels of demand for professionals with relevant skills. As the pace of technological change continues to accelerate, organisations increasingly need new approaches to skills development to keep in step with the latest advances in cloud, AI and other transformative technologies.”

SAP’s 2023 report ‘Africa’s Tech Skills Scarcity Revealed’ laid bare significant challenges with skills availability among organisations in South Africa, Kenya and Nigeria. The report revealed that low levels of tech skills availability affect most organisations, with four in five companies reporting negative consequences from a lack of tech skills.

While the tech skills gap persists globally – with McKinsey finding that 87% of global senior executives reported their companies were not adequately prepared to address the skills gap – the situation can be more acute for African organisations.

Cloud, AI skills in high demand

According to Manos Raptopoulos, President: SAP EMEA, skills availability has become even more important in light of the ongoing impact of cloud and artificial intelligence on the region. “Enterprises throughout the region are leveraging powerful new cloud and AI capabilities to transform their business models and accelerate growth and innovation. As the business landscape becomes increasingly shaped by the power of these technologies, organisations need access to relevant skills to ensure they reap the benefits of the cloud and AI revolution.”

SAP launched new learning opportunities for developers in 2023, focusing on cloud and generative AI capabilities. SAP Build Code solutions offer AI-powered productivity tools for developers and draws on the power of SAP’s AI co-pilot Joule to boost productivity and embed code generation capabilities for a range of applications, from data model and application logic to test script creation.

The company also launched new role-based certification and free learning resources for back-end developers in 2023 as part of a global commitment to upskill two million professionals by 2025.

Work-ready skills for graduates

The SAP Young Professionals Program (YPP), offered by the Digital Skills Centre of SAP, extends the company’s skills development efforts to graduates. YPP is aimed at enabling young talent to utilise the latest SAP technology and innovation, and covers software functional and technical knowledge and certification, with a strong focus on the latest technologies and a range of soft skills to ease entry into the workplace.

Since its launch in 2012, the SAP Young Professionals Program has trained and graduates more than 4100 candidates across 41 countries, including over 1900 in Africa alone.

Vincent Mabeka, a 2023 graduate from South Africa, says the SAP Young Professionals Program helped him improve his skills, learn about new technologies and gain hands-on experience and unlock new job opportunities.

“The Young Professionals Program required dedication, hard work and passion, but rewarded me with guidance, feedback and recognition for my skills and capabilities. This has helped me secure a job as an SAP Solutions Advisor where I apply the knowledge and skills I learned to exciting projects. Thanks to the resources and network I developed during my time on the program, I continue to learn and expand my skills and abilities.”

Youth skills development in focus

With the world’s fastest-growing youth population, any digital skills efforts in Africa must extend to the continent’s young people. Africa’s working-age population is predicted to grow to more than 600 million by 2030, constituting a quarter of the world’s under-25s. But digital skills remain elusive among Africa’s youth, despite a projected 70% of jobs expected to require digital skills by the end of the decade.

Enter SAP Africa Code Week (ACW), a coding skills development programme aimed at youth that is held annually in partnership with UNESCO, the Association for the Development of Education in Africa, and Irish Aid.

Since its inception in 2015, ACW has successfully empowered 17 million young people across 54 countries with coding and computational thinking skills, while close partnerships with NGOs and governments across the continent has helped drive the inclusion of coding in national curricula.

Toward the end of 2023, SAP also announced a new pilot project in partnership with UNICEF and other public-private organisations aimed at preparing underserved youth for the digital workforce. The SAP Educate to Employ initiative targets youth aged 16 to 24 and provides soft skills foundational knowledge using the Student Zone portal on SAP’s learning site. The knowledge prepares youth for a possible career in technology, with potential roles in development, consulting and support.

Makhohliso says the support of a broad range of partners is essential to overcoming youth skills challenges on the continent. “By directly addressing youth unemployment and inspiring our vibrant youth to pursue careers in the exciting world of technology, we together with our partners hope to mobilise the potential of our continent to become leading players in the future digital economy.”

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