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Cvhub Enhances Digital Economy Through  ICT Training – CEO

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The Computer Village Hub (Cvhub) on Saturday  said it was contributing to the enhancement of digital economy  through free training  of youths on Information  and Communication Technology (ICT).
Mr Austin Agbakor, Chief  Executive  Officer  (CEO) of Cvhub,  spoke with newsmen in Lagos on the sideline of the grand finale  of  the training  of 17 students, aged 10 -16, on graphics and web design,  corel draw,  scratch among others.
The Tide reports that Cvhub had commenced  a free four-week Bootcamp on Aug. 16, 2021  in collaboration  with David Oluwasegun  Foundation.
Agbakor said that the training  of the students would have a multiplier effect in advancing digital economy  in the country because the children would  be developing  local  content of global standard.
According  to him, some of the trained kids are already developing games, website  and graphics which if promoted, will make them entrepreneurs especially in an advanced  society.
“We believe  in catching them young and made the selection open for any child who had interest and passion for ICT but limited in reaching out .
“This grand finale of the boot camp is a call to all who have children passionate  about ICT to bring them to Cvhub as there is that capacity to train  and feed them.
“We have  some of the children who have been here for the first edition of the boot camp.
“They are  our ambassadors who would reach  out to the world and enhance  the economy  through  their works because some them have developed  up to 12 games,’’ he said.
He, however,  called  for partnership and collaboration from government  and private organisations to join hands with Cvhub  to promote digital economy  in the country.
Also speaking with newsmen, a participant,  Master Chukwufumnaya Ashinze, 14,  said that the training  had exposed him to advance digital learning.
He said that the training had  improved his digital learning and  that  advanced digital  learning as tech was taking over globally.
Also Miss Nkechi Agbakor, 15 years, said the  training had improved her digital skills and encouraged  her to take up Science  Technology  Engineering  Mathematics  (STEM) as a course.
She said that this was her second time being at the training and with the knowledge  acquired , she will  impact other children passionate about  ICT.
The Tide source reports that Cvhub had in 2018 targeted  the training  of 100,000  people by 2025  on ICT.
The first  edition  of the boot camp  was in 2019 but was put on hold due to the COVID-19 pandemic.

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Technology, Others Responsible For Nigeria’s Bonga Oil Operations

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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”.

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Banks Cut Borrowing From CBN By 44% 

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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.

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Expert Highlights Technology Impact On Fintech Industry Growth 

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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

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