Ict/Telecom
NITDA, NUJ Partner In Digital Journalism
To curb quackery and rising cases of fake news in journalism practice, the National Information Technology Development Agency (NITDA) has given its nod to a proposed partnership sought by the Nigeria Union of Journalists (NUJ).
Director-General of NITDA, Kashifu Inuwa, who stated this during a recent courtesy visit by members of the Union, led by its National President, Chris Isiguzo, at the Commission’s Headquarters, emphasized on the relevance of emerging technologies in journalism.
He decried the adverse effect of fake news which he described as “unimaginable” and a huge threat to the profession.
“Today, anybody can be a journalist without knowing the journalistic ethics. So, how can we address that?
“We can only do that through this kind of engagement, by training and retraining, because journalists need to understand that it is now about digital journalism.
“For you to engage in that, one needs to understand the technology and be able to verify the information and its source before publishing or broadcasting”, he said.
Although saddled with the mandate of regulating the use of Information Technology (IT) in the country, Inuwa, noted that in recent times, the responsibility has gone beyond establishing the DOs and DON’Ts due to the dynamic nature of technology, which, he said, has further necessitated the need for journwith requisite skills and ‘technology know-how’.
“We need to always reskill, update our knowledge and understand how the technology works in order to harness the potentials therein and use it for better things”, he said.
He continued that this is “because technology can be used as either a tool or a weapon. So, it is left for the user to decide what should drive the purpose.
“Everyone has a part to play in ensuring that unscrupulous elements don’t misuse the tech to mislead people”, he said.
Nothing that journalism is a major tool to close the gap between the Federal Government and the people, he said the partnership would greatly be beneficial to both parties.
“As a government, we have an ambitious target of achieving ninety five per cent digital literacy by 2030. It is not possible for us to train ninety five percent of the population on one-on-one basis.
“So, we need to be innovative; We need to find a way of leveraging on organizations like yours to achieve that because if we can have people writing about digital literacy, the reach would be far more wider than what we can do as a government.
“That’s why we had already started engaging your members in some states of the federation; training and letting them know they have a responsibility of helping the government in sanitizing the system so that we can address the challenge of fake news misinformation and disinformation”, he said.
He also assured NITDA’s support for the forthcoming National Executive Council Workshop on Digital Journalism organized by the Union, and called for modalities for the interventions/trainings as requested, in order for NITDA to know the number of members and make adequate provisions toward kick-starting the process.
Earlier, the NUJ President thanked the NITDA for sponsoring journalists to different trainings in parts of the country, including Jigawa, Kano, Gombe, and Kebbi States.
Isiguzo also appealed to NITDA to provide necessary equipment and facilities for the Union’s National Secretariat and International Insute of Journalism (IIJ) in order to aid optimal operations.
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
