Ict/Telecom
ICT Award Holds Wednesday
Technology Africa, organiser of the popular Titans of Tech Award, has concluded plans to unveil the 2011 recipients of the prestigious award in the high-octane ceremony scheduled for Lagos on Wednesday, April 18, 2011.
Speaking in Lagos, the Secretary of the Awards Committee, Don Pedro Aganbi, noted the Titans of Tech Awards is the high point of the two-day event called the Titans of Tech conference and exhibition, scheduled to take place from April 19 to 20 in Lagos with the theme, “State of ICT Infrastructure and the Challenges of a Digital Economy.”
He revealed that the yearly Titans of Tech Award and gala now in its seventh year, is designed to celebrate Hi-Tech most important movers and shakers, individuals, organisations and institutions that are at the fore front of pushing the frontiers of technology deployment and adoption in Nigeria.
Aganbi revealed that one of the most keenly contested categories is the ICT Company of the year, which would be a battle between Main One Cable, Computer warehouse, Zinox and Dataflex. ICT driven State of the year has Edo State, Imo State, Jigawa state and Akwa Ibom State. Also, Helios tower, IHS, Phase3 telecom and Swap would slug it out for the ICT Infrastructure Company of the Year Award.
The battle for the Best ICT Driven Bank of the year award has Zenith Bank, Keystone Bank, GTBank and First Bank in contention.
For the Software Company of the year, Programos, Connect Technologies, System Specs and ExpertEdge Software are in contention. While ICT Brand of the year award is up for grabs by one of Airtel, Etisalat, Main One Cable and Zinox Technologies.
ABTI America University, Babcock University, Bells University and Covenant University are in contention for ICT Driven University of the year, with the Government Agency of the Year award is between NCC, Galaxy backbone, NITDA and NigComSat.
The Telecom Company of the year award is going to be a battle between Glo, MTN, Etisalat and Airtel. While the ICT Solutions provider of the year award is between Dataflex, Layer3, Cyberspace and signal Alliance. Olusegun Mimiko, Adams Oshiomohle, Godswill Akpabio and Sule Lamido are in contention for the ICT Governor of the year award.
On criteria for the Award, Aganbi stated, “the key criteria include value of the service or technology in solving recognised technology problems, meeting network requirements, optimising service and performance, and/or enhancing customer service, overall quality of innovation and contribution to ICT advancement, originality and vision, potential contribution towards positive industry growth and service, market success/acceptance and contribution to end-user quality-of-experience and service efficiency.”
He disclosed that innovation and achievement, integrity and consistency, impact, community Involvement, strategy for growth, professional accomplishment, and local content represent the other criteria that the judges would be paying attention to.
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
