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Consultant Gives Reason For Cyber Conference
A Digital Transformation and Block Chain Consultant, Mr Jude Ozinegbe, has said part of the aims of the 2022 National Cyberchain conference is to share ideas and knowledge in the tech space.
Ozinegbe, who disclosed this in a statement, Sunday, in Abuja, said the fourth National Cyberchain Conference and National Tour 2022 is scheduled to hold in Abuja this month.
The conference with the theme: “Embracing The Metaverse Economy”, according to him, will bring together people with interest in the tech space.
“Cyberchain converges some of the best minds in the tech space annually and connects them with enthusiasts that are eager for the knowledge shared by these experts.
“Blockchain developers, founders and investors have also found Cyberchain events perfect fits to engage and foster viable business relationships.
“As technology continues to foster the growth of businesses across the globe, it has become imperative for Nigeria to be positioned as a contributor to the fast growing digital economy”, he said.
Cyberchain, he explained, was born out of the need to ensure Nigerians get proper sensitisation about the numerous benefits of the digital economy.
“They include creating more jobs for Nigerians, ease of doing business, transparent governance, safe online presence.
“Others are placing Nigeria on the global map by creating world class projects that contribute to the nation’s GDP,” he said.
He stated that the national conference and tour commenced in Akure, Ondo State in March, while it was held in Uyo, Akwa Ibom Statein May, and July in Benin, Edo State.
Ozinegbe said the grand finale of the national tour will hold in Lagos on November 12, adding that industry leaders, such as Chris Ani of DabaTV, Tony Emeka of CryptoTV Plus, Chuta Chimezie of BNUG, and Kristian Kruz of Element USA, were expected to feature on it.
“Winners will take home over N1,000,000 and other gifts for their performances at the ethical hacking competition, supervised by Digital Encode Limited.
“Speakers lined up for the conference include Mr Mohammed Jega, Founder at Domineum Blockchain; Mr Adedeji Owonibi, Founder at Convexity and A&D Forensics; and Mr William Phelps, Investment Manager at Adaverse”, he said.
The organisers also plans to wrap up this year’s event with the biggest Blockchain boat cruise in November.
“Celebrities, founders, investors and top leaders in the Blockchain space will have ample time to network, dine and wine, while enjoying the lush and ambient view of the Ikoyi/Lekki waters,” he said.
Ozinegbe used the opportunity to thank brands such as the Nigerian Communications Commission (NCC) and National Information Technology Development Agency, for their support to Cyberchain.
Cyberchain is a decentralised, brand-neutral and people-focused ecosystem that promotes the need for ethical use of cybersecurity and blockchain technology.
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”.
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.
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