Category: Nigerian Tribune

Amid the furore over allegations by the Senator representing the Federal Capital Territory (FCT), Senator Ireti Kingibe, that the FCT Minister, Mr Nyesom Wike, has been obtaining loans without the approval of the National Assembly, the Senate has challenged her to provide evidence to support her claims.

The Red Chamber said no such unapproved facility existed to its knowledge, accusing Kingibe of attempting to heat up the polity with unsubstantiated allegations.

‘No such thing ever happened. It doesn’t exist,’ the Chairman of the Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu, stated on Thursday while responding to inquiries by the Nigerian Tribune.

Kingibe, while granting a television interview earlier in the week, had alleged that Wike had sourced loans since assuming office in 2023, specifically mentioning 2023 and 2026.

However, she said the minister did not seek the approval of the National Assembly before obtaining and utilising the facilities he reportedly sourced from creditors.

Kingibe did not provide details of the loans but insisted that Wike had sourced them.

‘I am definitely saying Wike has been taking loans without the approval of the National Assembly.

‘I’m sorry to say, with all due respect to the Senate, of which I’m a member, we’re supposed to oversee him.

‘We’re supposed to approve, and I have brought to the attention of the leadership of the Senate that the FCT is borrowing money,’ the senator alleged.

However, Adaramodu expressed surprise at how the FCT, which had not submitted any proposals to the Senate on budget shortfalls, could be accused of taking illegal loans.

‘What is the nature of the loans? Are they local loans or international loans?’ he asked.

The Senate spokesman further stated that the legislature had been performing its constitutional duties of overseeing other arms of government without compromising its position.

‘The National Assembly has been forthcoming in her oversight functions over the other arms of government, as statutorily provided by the Constitution,’ he added.

He noted that where a lawmaker had any information exclusive to them, the normal parliamentary channel was to raise it through a motion on the floor to bring it to the attention of colleagues for proper treatment, ‘which in this case, the senator hasn’t done so to our knowledge.’

Adaramodu went on: ‘If any legislator has any issue with the functions of any organ or department of government, such must be raised through the relevant committee or on the floor of either of the chambers.

‘The National Assembly is not a secretariat of any political party. We owe our legitimacy to the Nigerian people; hence, our oversight assignments are for the welfare of the public, including the Federal Capital Territory, which we exclusively legislate for.’

Boeing and the Society of Professional Engineering Employees in Aerospace (SPEEA) will resume contract negotiations on September 8, following the union’s rejection of the company’s proposed four-year agreement.

The development was announced by SPEEA on Monday, after representatives of both sides met. The union represents engineers and technical workers at Boeing in Washington and other states.

SPEEA members rejected Boeing’s contract proposal on August 21, with engineers voting 64 percent against the tentative agreement and technical workers voting about 72 percent against it. The union’s roughly 17,000 members also voted to authorise a strike if an agreement is not reached before the current contract expires on October 6.

An internal survey of nearly 13,000 SPEEA members identified higher guaranteed general wage increases as their top priority for the next offer. Other priorities included improved performance-based raises and better annual cost-of-living adjustments.

The renewed negotiations come amid growing concern over a potential work stoppage that could affect Boeing’s engineering and certification programmes. SPEEA members are involved in work supporting the certification of the delayed 737 MAX 10 and 777-9 aircraft. A strike could therefore put further pressure on Boeing’s already stretched production and certification timelines.

Boeing has also begun contingency planning, including posting contractor positions for engineering and technical roles, although the company has said its objective remains reaching an agreement with SPEEA before the current contract expires.

A Boeing spokesperson said the company was looking forward to considering SPEEA’s feedback and reaching a resolution that would work for its employees while keeping the company and workforce competitive.

The September 8 meeting will therefore be closely watched as both sides seek to bridge differences over pay and other contractual issues and avert another major labour disruption at the aircraft manufacturer.

The Securities and Exchange Commission (SEC) has proposed a comprehensive regulatory framework for online foreign exchange (forex) and Contracts for Difference (CFD) trading in Nigeria, including stricter licensing requirements, minimum capital thresholds, leverage limits and investor-protection measures.

The proposed rules on online forex trading and CFD are intended to establish a framework for the orderly and transparent conduct of the sector. The proposals, if adopted, would apply to operators providing online forex and CFD services to Nigerian residents, including certain offshore entities targeting the Nigerian market.

The proposed framework is not yet a set of regulations in force. It represents the SEC’s proposed requirements and sanctions for the sector.

Under the proposal, no person would be permitted to provide online forex trading services to Nigerian residents without registration as an Online Forex Broker/Broker Dealer, Introducing Broker or Technology/Platform Provider. Offshore platforms could also fall within the rules if they allow Nigerians to open accounts, advertise locally, use Nigerian influencers or affiliates, or otherwise demonstrate an intention to serve Nigerian residents.

The proposals prescribe substantial minimum capital requirements. A B-Book or market-maker broker would be required to maintain minimum paid-up capital of N3 billion, while an STP or ECN broker would require N2 billion. Technology and platform providers would face a minimum capital requirement of N5 billion.

Introducing brokers would require minimum capital of N30 million for individuals and N150 million for corporate entities. Proposed registration fees range from N1 million for an individual introducing Broker to N30 million for a technology/platform provider.

The proposal also sets maximum leverage for retail clients at 1:400 for major currency pairs, 1:300 for minor and exotic currency pairs, indices and commodities, and 1:2 for cryptocurrencies. Professional clients could receive leverage of up to 1:1000, subject to specified risk-management requirements.

A major proposed investor-protection measure is negative-balance protection. Retail clients would not be permitted to lose more than the funds available in their trading accounts. Brokers would also be required to close positions when a retail client’s account equity falls to 50 per cent or less of the margin required to maintain open positions.

Significantly, the proposed enforcement provisions state that a Category-A licensee that fails to implement negative-balance protection or breaches retail leverage limits would attract a minimum penalty of N1 million per affected client.

The proposed rules would also prohibit binary options for retail clients, excessive retail leverage, trading-volume incentives, unapproved influencers and misleading representations about trading platforms. Brokers would be prohibited from offering currency pairs involving the naira without prior written approval from the SEC.

Client funds would have to be held in segregated accounts at CBN-licensed banks and could not be used for brokers’ own obligations or operations. Brokers would also be required to reconcile client funds daily and retain specified records for at least seven years.

Advertising would come under tighter proposed controls. Retail forex advertisements would require filing with the SEC and would have to be fair, clear and not misleading. Claims about potential profits would have to be accompanied by equally prominent warnings about the risk of loss. Cold calling retail clients without prior expressed interest would also be prohibited.

The proposals further require technology providers to maintain robust cybersecurity systems, including encryption, multi-factor authentication, penetration testing and at least 99.5 per cent platform uptime during trading hours.

Entities committing serious breaches could, under the proposed framework, face suspension or revocation of registration, while conduct amounting to criminal offences could be prosecuted.

If the proposed rules come into effect, existing operators would have three months to submit registration applications and six months to comply with the SEC’s requirements. Operators that fail to apply within the stipulated period would be required to cease regulated activities.

The proposed framework therefore signals a significant potential tightening of oversight of Nigeria’s online forex and CFD market, with the SEC seeking to place greater emphasis on capital adequacy, transparency, client-fund protection, responsible marketing and accountability.

OPERATIVES of the country’s security agencies killed 1,614 terrorists, arrested 1,688 and rescued 1,160 abducted victims between July and August.

According to a breakdown released on Tuesday by various security and emergency management agencies at the monthly security press briefing, coordinated by the Office of the National Security Adviser (ONSA), the Armed Forces and the Nigeria Police Force alone killed more than 1,600 suspected terrorists and criminals, and rescued over 1,100 kidnapped victims.

In his own account, Director of Defence Information (DDI), Major-General Samaila Uba, said the Armed Forces conducted 7,062 security operations across the country during the period under review, killing 1,487 terrorists and insurgents, arresting 354 suspects and rescuing 777 kidnapped victims.

He said the operations, which covered all the six geopolitical zones, included clearance operations, intelligence-led raids, rescue missions and targeted arrests against terrorists, bandits, kidnappers, arms traffickers, oil thieves and other criminal elements.

Major-General Uba said the operations were conducted across Borno, Yobe, Taraba, Katsina, Kwara, Zamfara, Sokoto, Plateau, Benue, Niger, Oyo and Kaduna states.

He added that troops recovered 91 firearms, 1,331 rounds of ammunition and 44 improvised explosive devices, which were safely detonated.

Major-General Uba further explained that the highlight of the operations was the rescue of 777 kidnapped victims from a terrorist enclave.

He said 309 Boko Haram and Islamic State West Africa Province (ISWAP) fighters were killed during the operations, while 354 suspects were arrested.

He stated that the operations also led to the recovery of weapons, motorcycles and livestock, as well as the dismantling of terrorists’ operational bases.

He further reported that nine dialogue and peace-building initiatives and 15 stakeholder engagement were held with traditional and religious leaders.

The DDI added that 93 security personnel casualties and 249 verified civilian casualties were recorded during the period.

He, however, said there was no major border or transnational incidents, critical infrastructure vandalism, prison breaks or threats to pipelines, railways and highways.

Police arrest 1,334 suspects, rescue 383

The Nigeria Police Force also reported significant gains in its fight against violent crime, arresting 1,334 suspects and rescuing 383 kidnapped victims during the period.

The Force Public Relations Officer (FPRO), CSP Ani Iniedu, disclosed that operatives of the Force, in multiple operations, recovered 175 firearms, including AK-47 rifles and pump-action guns, as well as more than 3,790 rounds of live ammunition.

He said a total of 93 vehicles and rustled cattle were recovered, while at least, 127 suspected criminals were killed during engagements with security forces.

Iniedu explained that in one major operation, police tactical teams engaged about 240 bandits in a gun battle after intelligence indicated an impending large-scale attack on a community.

He stated that the confrontation resulted in the deaths of 10 police officers and 17 bandits, while two civilians were killed in the crossfire.

The Oke-Ogun Council of Elders (OCE) has presented a 10-year development blueprint to the Oyo State Government, seeking increased investment in infrastructure, agriculture, security, education, healthcare and other critical sectors to accelerate development across the region.

The elders made the presentation on Wednesday during a courtesy visit to the Acting Governor of Oyo State, Barrister Abdul-Raheem Adebayo Lawal, at his office in Ibadan.

The blueprint, titled Oke-Ogun Development Blueprint (2025-2035), is an updated version of the development agenda earlier published by the council in 2016 and is intended to serve as a strategic roadmap for the development of the region over the next decade.

Speaking on behalf of the delegation, the President of the council and former Minister of State for Agriculture and Water Resources, Otunba Bamidele Dada, said the document identified key areas requiring urgent attention to unlock the economic potential of Oke-Ogun.

He said the priority areas included agriculture, education, electricity, healthcare, water resources, industrial development, international boundaries, road networks, security, solid minerals and tourism.

Dada said, ‘Oke-Ogun is the agricultural backbone of Oyo State and requires integrated agribusiness centres and direct support for rural farmers to maximise its agro-industrial potential.’

He also called for accelerated completion of ongoing road projects linking Oke-Ogun communities with other parts of the state, saying improved connectivity remained critical to the economic development of the largely agrarian region.

‘We commend the ongoing efforts of this administration to ensure that road networks in Oke-Ogun are opened up for ease of connection with other parts of the state, including the state capital.

‘We urge the government to prevail on the contractors handling the projects to accelerate work for early completion, as these roads serve as economic arteries for our agrarian communities,’ he said.

The council also expressed interest in the ongoing efforts to revive the Ikere Gorge Dam, saying its full utilisation would provide significant benefits to the region.

Dada said, ‘We have shown interest in the effort to have Ikere Gorge Dam come on stream to deliver the services contained in the original plan and more. We thank God that the project is taking off the ground in earnest now.’

On security, the elders commended the state government for its efforts to improve security across Oke-Ogun and called for further strengthening of security networks to protect residents, farmlands and businesses.

‘The safety of our communities remains vital. Oke-Ogun Council of Elders, and indeed Oke-Ogun people generally, appreciate the efforts of the government in trying to secure our communities.

‘We urge the state government to continue strengthening regional security networks and support indigenous security initiatives to protect life and property across our farmlands and communities,’ Dada said.

The elders further appealed for sustained investment in tertiary institutions and youth empowerment programmes in the region to expand access to higher education and vocational skills.

The council also commended Governor Seyi Makinde’s administration, passing a vote of confidence in the government and pledging continued cooperation and support.

Dada said the people of Oke-Ogun stood firmly behind the administration, adding that the council would continue to support efforts aimed at developing the state.

‘Oke-Ogun Council of Elders and Oke-Ogun people stand firmly behind you and the administration of Governor Seyi Makinde. We assure you of our continuous prayers and unalloyed support as you steer the affairs of Oyo State,’ he said.

Also speaking, a member of the council, Sir Oladoja Oladele, appreciated the Acting Governor for receiving the delegation and providing an opportunity for the elders to present their development concerns.

He commended the Makinde administration’s efforts towards strengthening security in the state, particularly the procurement of a surveillance aircraft to enhance security operations in Oke-Ogun and other parts of the state.

Responding, the acting Governor commended the elders for developing what he described as a useful framework for the advancement of Oke-Ogun.

He assured the delegation that the issues contained in the blueprint would be presented to Governor Makinde upon his return for appropriate consideration and action.

Lawal said the government valued the contribution of stakeholders to the development of the state and would continue to engage communities and leaders in identifying areas requiring intervention.

The highlight of the visit was the presentation of five copies of the Oke-Ogun Development Blueprint (2025-2035) to the Acting Governor for onward transmission to Governor Makinde.

The Oke-Ogun region comprises 10 local government areas and is one of the major agricultural belts of Oyo State.

As part of efforts to deepen collaboration and promote local capacity in Nigeria’s defence and security sector, Green Lunar Nigeria Limited and its sister companies have paid a working visit to MOMAS-Epail Military Industrial Complex, a leading manufacturer of military hardware and security equipment in Nigeria.

The visiting delegation was led by Brigadier General Olu Famakinwa (Rtd.), Executive Director, Professional Security Services Limited; Engr. Adewumi Oyekola, Managing Director, Heighest Ventures Limited; and Olaniyi Odina, Chief Executive Officer, Green Lunar Nigeria Limited.

The team was received by AVM Abdulganiyu Adeyinka Olabisi (Rtd.), Director of Operations, alongside Engr. Paul Okodugha, Head of Special Projects and Ballistic Production; Engr. Edet Albright, Head of Drone Design and Fabrication; Ore-ofe Oloruntoba, Head of Radio and Communications; and other members of the company’s management and operations teams.

During the visit, Engr. Paul Okodugha led the delegation on a tour of Epail Nigeria Limited’s production facilities, where the company manufactures a range of military and security equipment, including armoured vehicles, military-grade communication devices, bulletproof vests, attack drones and surveillance drones.

The delegation also inspected the company’s energy meter production line, which manufactures both prepaid and postpaid electricity meters, further highlighting Epail’s growing local manufacturing capacity.

In his welcome address, AVM Olabisi commended the visiting delegation and emphasised the importance of stronger collaboration among indigenous companies operating within Nigeria’s security and defence ecosystem. He noted that strategic partnerships among local firms would help strengthen domestic capacity and reduce dependence on imported security and defence equipment.

Speaking during the visit, Brigadier General Olu Famakinwa (Rtd.) expressed appreciation for the level of local expertise and technological capacity demonstrated by Epail Nigeria Limited. He assured the company of Professional Security Services Limited’s readiness to work closely with Epail in developing and revolutionising the private security services sector in Nigeria.

Representing Heighest Ventures Limited, Engr. Adewumi Oyekola disclosed that the company is a major player in power generation and distribution and currently has significant demand for prepaid electricity meters.

He said, in line with Heighest Ventures’ commitment to promoting local content and supporting indigenous manufacturers, the company would give strong consideration to deploying Epail’s locally manufactured prepaid meters.

Also speaking, the Chief Executive Officer of Green Lunar Nigeria Limited, Olaniyi Odina, expressed satisfaction with the quality and range of products manufactured at Epail’s facility.

Odina described the visit as an opportunity to identify areas of mutual interest and assured the Epail management that Green Lunar Nigeria Limited and its sister companies would explore various partnership opportunities aimed at promoting local manufacturing, technological development and stronger collaboration within the defence and security sector.

More than 50 suspected cult members have renounced their membership of different cult groups in Abini community, Biase Local Government Area of Cross River State barely days after the police arrested 10 suspected members of the Neo Black Axe Movement of Africa (NBM), in the community and recovered weapons and other cult-related items.

The renunciation, which took place on August 26, was facilitated by the Abini Uniform Men and Women Association, popularly known as Abini Elite, in collaboration with Laurahope Care and Rescue Foundation.

The development came against the backdrop of growing community concern over cult activities. The Abini community had earlier petitioned the Cross River Commissioner of Police, Ajo Geoffrey Ordue, on July 29, raising the alarm over alleged cult activities in the area.

Following the petition, operatives of the Violent Crime Response Unit (VCRU), Sector 2 commenced intelligence gathering, surveillance and operational follow-up, which culminated in the arrest of 10 suspected cult members on August 22.

The suspects, according to the police, were arrested at about 5:15 a.m. during an initiation ceremony in the community.

The police said a locally made pistol, battle axe, dagger, a beret, a pair of police camouflage trousers and a cardigan were recovered during the operation.

The Commissioner of Police commended the VCRU operatives for what he described as the effective deployment of intelligence, saying the operation demonstrated the importance of intelligence-led and community policing in identifying and disrupting criminal activities before they escalate.

He also urged residents of Abini and other communities in the state to continue providing the police with credible and timely information to assist security agencies in preventing crime.

In response to the security concerns, more than 50 individuals said to have belonged to different cult groups publicly renounced their membership during the community-led event.

The event, themed: ‘Abini unite to reject cultism, drugs, rape, theft and other violent crimes,’ was held at the Edodono Village Square last Wednesday.

During the event, the clan head of Abini imposed a ban on cult activities in the community and reportedly enacted traditional penalties for anyone who persists in such behaviour.

The community leadership called for an end to activities capable of threatening peace and security in Abini, while the organisers urged youths to abandon cultism and embrace lawful means of pursuing their aspirations.

The mass renunciation is seen by community stakeholders as an attempt to complement the ongoing security crackdown with a grassroots approach aimed at preventing young people from being recruited into secret cult groups.

The police command said its investigation into the August 22 arrests was ongoing and that efforts had been intensified to apprehend other suspects allegedly connected with the case.

It added that the arrested suspects will be subjected to due process and diligent investigation, stressing that anyone found culpable will face the law.

A chieftain of the All Progressives Congress (APC) in Lagos State, Mogaji Seye Oladejo, has challenged opposition political parties to demonstrate their readiness for the 2027 general elections by building structures and fielding credible candidates across the country.

Oladejo said the growing political rhetoric and alliances among opposition parties must be matched by grassroots organisation and participation in elections at all levels.

He specifically alleged that the African Democratic Congress (ADC), associated with former Vice President Atiku Abubakar, has no governorship candidate in eight states, while the New Democratic Congress (NDC), associated with Peter Obi, has no governorship candidate in 12 states.

He questioned how parties aspiring to win the presidency could achieve that objective without establishing sufficient political structures across the states.

According to him, the absence of governorship candidates in several states raises questions about the parties’ organisation, grassroots acceptance, and confidence in their political platforms.

Oladejo said, ‘A party that aspires to win the presidency must first demonstrate that it has a functioning political structure capable of competing across the federation.’

He maintained that elections could not be won solely through social media campaigns, press conferences, television appearances, political hashtags or alliances among politicians in Abuja.

Rather, he said victory depended on candidates, party structures, mobilisation and votes at the grassroots.

‘Elections are not won on social media. They are won by people, structures, candidates, organisation, mobilisation and votes,’ he said.

The APC chieftain said presidential elections were closely linked to elections at the state and constituency levels because the same electorate votes for candidates across different positions.

He said governorship and other candidates helped parties mobilise voters, establish polling-unit structures, identify supporters and maintain a presence within communities.

Oladejo therefore questioned the ability of opposition parties to build the political infrastructure required for a presidential victory when they were unable to field governorship candidates in several states.

He also challenged members of the opposition parties to demonstrate confidence in their platforms by seeking elective offices under their banners.

‘If the ADC and NDC represent such attractive political alternatives, why are their members not scrambling to contest under their banners?’ he asked.

He warned political analysts against equating social media popularity with electoral strength, noting that Nigeria’s electorate extended beyond platforms such as X, Facebook and WhatsApp to wards, polling units, markets, streets, villages and communities.

According to him, political parties need polling-unit agents, ward coordinators, mobilisation teams, canvassers and credible candidates capable of establishing direct relationships with voters.

He said, ‘If you cannot produce candidates, it becomes difficult to convince Nigerians that you can produce a government.’

Oladejo further urged opposition parties not to assume that public dissatisfaction with the government would automatically translate into votes for their candidates.

He noted that there was a distinction between being dissatisfied with an incumbent administration and being sufficiently convinced by an opposition party to vote for it.

While warning that opposition parties might rely on alliances, public dissatisfaction and anti-incumbency ahead of 2027, he said such factors did not guarantee electoral victory without adequate organisation.

He also cautioned opposition parties against attributing a possible electoral defeat solely to alleged rigging or manipulation.

Oladejo, however, acknowledged that genuine electoral irregularities should be challenged through appropriate legal and constitutional channels.

He said political parties should also be prepared to examine their own shortcomings, including inadequate organisation, weak structures, poor candidate selection and limited grassroots presence.

The APC chieftain cautioned his party against complacency, stressing that incumbency did not guarantee electoral victory.

He urged the APC to continue strengthening its structures, engage with Nigerians, defend its record, address areas requiring improvement and field credible candidates.

‘Every election must be earned,’ he said, adding that the electorate remained sovereign.

Oladejo said the 2027 elections would ultimately determine whether the opposition parties’ growing political confidence was backed by sufficient organisation and grassroots support.

He challenged them to ‘contest everywhere you can, produce credible candidates, build your structures, mobilise your supporters, convince Nigerians and earn their votes.’

He added that political alliances and rhetoric would not automatically translate into electoral victory, arguing that the winning party would be the one capable of transforming ‘aspiration into organisation, organisation into mobilisation and mobilisation into votes.’

He concluded: ‘You cannot win a contest you are not prepared to enter.’

Ride-hailing company, Uber, has announced the shutdown of its operations in Nigeria and Uganda.

The company, which launched in Nigeria in 2014, said its operations in the country will end effective September 2, 2026.

In a statement, Uber said the decision followed a review of its business in Nigeria.

‘We are writing to share some difficult news. After a thorough review, we have taken the difficult decision to wind down operations in Nigeria and Uganda, effective September 2, 2026,’ Uber said.

Uber said it launched its services in Lagos in 2014 and thanked Nigerians for using its platform over the years.

‘Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.

‘Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.’

The company said it would support drivers, riders and its local team members during the transition.

The Senate and the National Information Technology Development Agency (NITDA) have backed greater deployment of digital solutions to strengthen business trust, formalise Nigeria’s informal sector and expand opportunities for job creation for Nigeria’s teeming unemployed youth.

The stakeholders spoke in Abuja at the unveiling of Sky ID, a Nigerian telecommunications and business identity platform.

Speaking at the event, the Chairman of the Senate Committee on Housing and Urban Development, Senator Aminu Waziri Tambuwal, said the National Assembly would continue to support legislation that creates an enabling environment for technology-driven businesses and employment.

Tambuwal said lawmakers had a responsibility to make laws that would support initiatives capable of improving businesses and creating opportunities for Nigerians.

‘First and foremost, our job is primarily to make laws for the good governance and order of the country. We shall continue to make such laws that will enable these types of initiatives and several others that have the capabilities and ability to support Nigerians in their businesses and create jobs for our young people,’ he said.

Also speaking, an Assistant Director with the Digital Development Services Department of NITDA, Dr Ahmed Yusuf Tambuwal, said digital innovation could play a significant role in transforming Nigeria’s informal sector, where a large proportion of Nigerians operate.

He said digital tools could help small businesses formalise their operations, manage their businesses more efficiently and expand their customer base, giving them the capacity to pursue larger business opportunities.

‘I think this particular initiative is very important for the informal sector. As you are well aware, the informal sector is where the largest population of Nigerians operates.

‘With this innovation, a lot of small businesses are going to be formalised. They will be able to manage their businesses better, expand their customer base and, while remaining small businesses, gain the capacity to manage bigger business opportunities,’ he said.

Tambuwal said: ‘this is very good for the informal sector and could contribute significantly to job creation and economic growth.’

He added that NITDA was supporting stakeholders in the digital economy through policies, regulations and frameworks designed to simplify participation in the sector by businesses and individuals.

‘We have a number of policies and regulations aimed at simplifying how businesses and individuals can participate in the digital economy. Through our policies, regulations and frameworks, we are able to support this type of business. We actively support good initiatives such as this through partnerships, funding and many other methods,’ he said.

Earlier, Founder and Chief Executive Officer of IT Sky Solutions, Almustapha Liman, said the idea behind Sky ID was driven by the need to strengthen trust and accountability in business interactions in Nigeria.

Liman said businesses and individuals needed reliable systems through which their identities could be established and verified, particularly as digital communication and transactions increasingly become part of everyday commercial activities.

He argued that the challenge was not necessarily the character of Nigerians but the absence of systems capable of encouraging accountability and discouraging abuse.

‘In any society in the world, you will find the good, the bad and the ugly. But if a system is put in place that can check the activities of individuals, it can discourage people from doing what is not right,’ he said.

According to Liman, the identity and verification component of the initiative could help build greater confidence among businesses and their customers while also contributing to efforts to address some of the trust and security challenges confronting business interactions.

He said the private sector also had a responsibility to contribute to the development of systems that promote trust, adding that technology should not only facilitate communication but also help strengthen relationships between businesses and their customers.

Liman linked the initiative to employment generation, saying the company had created jobs through its operations and network of channel partners.

He said about 1,000 people had been employed through the company’s operations in India, while its channel-partner network, some of which he said had between 400 and 500 workers, could potentially translate into several thousand additional jobs.

Liman said the company’s longer-term ambition was to extend the trust and verification model beyond Nigeria by developing what he described as a ‘social trust network across Africa.’

He said such a network could enable Africans and African businesses to communicate and transact with greater confidence across national borders.

‘We are building a social trust network across Africa, whereby someone from another nation should be able to communicate or transact with another party anywhere globally,’ he said.

The Sky ID platform was unveiled as a business communication and identity solution designed to enable companies to manage incoming customer calls through a single business number, alongside identity and business verification features.