Zenpay Limited, a wholly owned subsidiary of Zenith Bank Plc, has signed an Agreement with the African Continental Free Trade Area (AfCFTA) Secretariat for the development and deployment of the SMARTAfCFTA Portal to facilitate trade within the African continent.
L-R: Chairman of Zenpay Limited, Dr. Ebenezer Onyeagwu and the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, His Excellency Wamkele Mene, during the signing of an agreement for the development and deployment of the SMARTAfCFTA Portal to facilitate trade within the African continent, at Zenith Bank Headquarters, Ajose Adeogun Street, Victoria Island, Lagos on Friday.
The agreement which was signed by the Chairman of Zenpay Limited, Dr. Ebenezer Onyeagwu and the Secretary-General of the AfCFTA Secretariat, His Excellency Wamkele Mene, at Zenith Bank Headquarters, Ajose Adeogun Street, Victoria Island, Lagos on Friday, May 3, 2024 comes as a follow-up to the Memorandum of Understanding (MoU) which was previously signed by both parties during the 8th Annual Edition of Zenith Bank’s International Trade Seminar on Non-Oil Export which was held on Wednesday, August 8, 2023.
During the agreement signing, Dr. Ebenezer Onyeagwu, Chairman of Zenpay Limited, expressed his enthusiasm for the collaboration with the AfCFTA Secretariat, highlighting its significance given the current understanding of trade flows in Africa. Dr. Onyeagwu noted, “In Africa, intra-African trade constitutes only about 20% of total trade, with the rest going overseas, despite Africans making up 18% of the world population but contributing less than 5% to global GDP. By trading within Africa, we anticipate building prosperity across the continent.”
He further stated, “This initiative is not driven by profit but by the need to support the African Continental Free Trade Area. It aims to create a unified African market, enhancing economic integration and standardising customs and practices. As we advance this agenda, we expect tosee significant growth and improvement in intra-Africa trade.”
Also speaking during the agreement signing, His Excellency, Wamkele Mene, Secretary-General of the AfCFTA Secretariat, shared his delight over the partnership with Zenpay Limited in developing SMARTAfCFTA. He appreciated Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, for his commitment to the project. According to him, “Four years ago, we discussed and envisioned SMARTAfCFTA as a digital platform to empower SMEs and young entrepreneurs in Africa, facilitating their inclusion in trade and boosting intra-African trade. This platform will serve as a repository for crucial trade data, offering insights on rules of origin and market intelligence, thus playing a pivotal role in implementing the AfCFTA agreement. Today is a testament that working together with our African partners in this case, Zenith bank, shows that their commitment goes beyond their progit margins to their stakeholders, but are motivated by our shared duty towards the Continent.”
Speaking about the Pan-African Payment and Settlement System (PAPSS) alongside the SMARTAfCFTA portal, H.E. Mene described PAPSS as “Africa’s payment highway.” He clarified that, unlike PAPSS, SMARTAfCFTA is not a payment platform itself but will be interoperable with PAPSS, allowing functionalities that facilitate easy payments. He emphasised that these platforms complement each other; they are not in competition. “We promote and encourage only one payment platform—PAPSS. Our goal is to integrate the digital ecosystem we are developing into PAPSS. We are committed to fostering innovation within this framework, ensuring it supports a seamless continental payment system without creating competition among platforms.”
SMARTAfCFTA is a digital platform designed to facilitate international trade by providing the necessary information and tools to the African private and public sectors. The Portal aims to streamline and unlock vast opportunities for trade across the African continent, and has the capacity to provide information like trade indicators, market trends, custom tariffs, trade agreements, Rules of Origin, market access requirements of relevant jurisdictions, export potentials, export diversification indicators and contact details of business partners in target markets and other trade-related information about Africa.
About ZENPAY Ltd Zenpay Ltd is a private limited liability company duly incorporated under the laws of the Federal Republic of Nigeria as a wholly owned subsidiary of Zenith Bank Plc. The company. It is a one-stop revolutionary financial technology (Fintech) company responsible for digital innovation and payments.
About the African Continental Free Trade Area (AfCFTA) The African Continental Free Trade Area (AfCFTA) is one of the flagship projects of Agenda 2063: The Africa We Want and entered into force on 30 May 2019. It is a high ambition trade agreement, which aims to bring together all 55 Member States of the African Union, covering a market of more than 1.3 billion people, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas. By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all services sectors of Africa’s economy, at a potential of 52.3 percent.
How Ex-Kwara Governor Abdulfatah Diverted UBEC Funds, Abandoned 51 Projects
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The trial of the former Governor of Kwara State, Alhaji Abdulfatah Ahmed, and his Commissioner for Finance, Ademola Banu, over the alleged misappropriation of Universal Basic Education Commission (UBEC) funds to the tune of N5.78 billion, continued on Monday, February 17, 2025, before Justice Mahmud Abdulgafar of the Kwara State High Court sitting in Ilorin.
Kwara Ex-Governor, Fatai Ahmed
The former governor and his finance commissioner were accused of conspiring to divert funds meant for the payment of teachers’ salaries under the Kwara State Universal Basic Education Board (SUBEB), the provision of basic infrastructure for primary and junior secondary schools, and security initiatives in the state. They were arraigned by the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on October 21, 2024. However, both defendants pleaded not guilty to the charges.
During Monday’s hearing, the prosecution’s first witness (PW1), Abubakar Hassan, an Assistant Director of Finance at UBEC, while being led in evidence by counsel to the EFCC, Rotimi Jacobs, SAN, testified that a total of 51 projects approved under the 2013 action plan were abandoned due to a lack of funds. According to Hassan, the UBEC project monitoring committee discovered that, despite the approval for these projects, the state government under the leadership of erstwhile governor mismanaged the funds.
“My Lord, the Projects Monitoring Exercise conducted investigations and found that many projects were either unexecuted or abandoned. We wrote to the then-Kwara State Governor, Alhaji Abdulfatah Ahmed, in May 2018 to address these issues, but we received no response,” Hassan stated.
He further explained that the abandoned projects spanned all 16 Local Government Areas of Kwara State.
Additionally, Hassan revealed that on January 6, 2015, N1 billion was loaned from the 2013 UBEC Matching Grant Account with Skye Bank Plc to pay staff salaries and pensions. Addressing the utilization of the 2014 and 2015 State Counterpart Funds, he stated that the Kwara SUBEB had illegally withdrawn N1,829,054,054.06 from funds lodged on February 18, 2016. These funds had qualified the state to access the Federal Government’s UBEC Matching Grants.
Hassan further testified that UBEC had sent a letter of invitation requesting documentary evidence regarding the Kwara State Government’s use of UBEC funds.
“We submitted documents showing the lodgment of funds to the Kwara SUBEB. The projects were categorized into three: early care education, primary school education, and junior secondary school education,” he explained.
He also reiterated that UBEC had written to the first defendant (Abdulfatah Ahmed) in May 2018, drawing attention to the alleged mismanagement of education funds. However, there was no response from the state government.
“State Matching Grants are not permitted to be borrowed or utilized for any purpose outside the approved action plan. The objectives of UBEC were undermined due to these infractions and the failure to implement the action plan,” Hassan stated.
Justice Abdulgafar adjourned the case until February 18, 2025, for the cross-examination of PW1.
Transcorp Hilton Abuja Sets the Mood for Valentine’s Day with Exclusive Dining and Room Offers
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Transcorp Hilton Abuja is gearing up to make this Valentine’s Day unforgettable with unique dining experiences at its signature restaurants, Zuma Grill and Bukka Restaurant, as well as the Fulani Pool Bar.
The facade of Transcorp Hilton Abuja from the pool
August24news.com gathered that There is also a special room offer for couples. On February 14th, 2025, couples and singles alike can indulge in a romantic dinner at Zuma Grill, complete with a specially crafted multi-course menu, live music, and an enchanting ambiance.
The evening promises to be a night to remember, with prices starting at N180,000 for singles and N320,000 for couples. The dinner will commence at 7 pm at Zuma Grill, located on the Ground Floor of Transcorp Hilton Abuja.
For those seeking a more laid-back celebration, Bukka Restaurant is offering a delectable Valentine’s Day buffet. Priced at N68,000, the buffet promises to be a delightful experience, filled with laughter and cherished moments with loved ones. The buffet will begin at 6:30 pm.
Guests who want an enchanting experience by the poolside can enjoy the Fulani Pool Bar where delicious bites, refreshing cocktails and light appetizers will be served in a serene, open-air atmosphere. The beautiful poolside setting, combined with the night sky, provides a perfect backdrop for couples seeking a quiet and intimate celebration.
To make the celebration even more special, Transcorp Hilton Abuja is offering a Valentine’s Day room package, complete with a romantic dinner, champagne, and a relaxing stay in one of its luxurious rooms. Couples can book the package and enjoy a memorable getaway.
Reservations for Zuma Grill can be made by calling 08039013000 or sending a direct message on Instagram @zuma_grill. For Bukka Restaurant, please call 08039013333 for further enquiries or follow @thebukkarestaurant on Instagram. To book the Valentine’s Day room package, please contact the hotel directly.
Transcorp Hilton Abuja invites you to celebrate the spirit of love and togetherness this Valentine’s Day with an unforgettable dining and stay experience.
In its continued commitment towards the implementation of the present administration’s Renewed Hope Agenda, particularly in the area of improving governance for effective service delivery, the National Information Technology Development Agency (NITDA), is intensifying efforts to create a one-stop-shop portal for all government services.
The initiative aligns with the President’s directive to digitise 75% of government services by 2027, a target that is now actively being pursued by various stakeholders.
This was made known when the DG NITDA, Kashifu Inuwa CCIE and his team played host to a delegation from the Ukrainian Embassy in Nigeria led by its ambassador, Mr Ivan Kholostenko to the Corporate Headquarters of the Agency in Abuja to discuss possible areas of collaboration between the two countries on ways of enhancing productivity, transparency and trust in government processes.
Despite efforts made for several years at establishing a centralised e-government portal such as the OneGove.net, the NITDA DG noted that the Agency has been playing a pivotal role in shaping the design, standard guidelines, and implementation strategies towards its establishment.
He however stated that renewed commitment and extensive research into global best practices have reignited the drive for pursuing the agenda.
While stating that the Agency has been doing research on how other countries have been able to implement the unified digital government services platform, the DG said, “We have been doing research on how UK, Kenya and other countries have achieved this, so I believe we can learn from you as well to see how we can build our own.”
“While such models are not entirely transferable between nations, we can learn from their experiences to develop a framework that works for Nigeria,” he added.
Proposing an introduction of legal frameworks to back up the initiative, Inuwa disclosed that NITDA has identified multiple models from other nations that allows government agencies to provide services through an Application Programming Interface (API) while other countries provide services exclusively through designated portals backed by law.
“If we want to achieve this, we need to have these laws in place and kickstart the process of enacting the laws in other to facilitate a smooth and effective digital transformation,” he averred.
Inuwa also disclosed that the agency is engaging with the International Telecommunication Union (ITU) to ensure alignment with global digital governance standards and the engagement is expected to provide valuable expertise and insights into structuring Nigeria’s digital transformation roadmap.
“This initiative is seen as a critical step towards enhancing efficiency, reducing corruption, and promoting transparency in government operations. By leveraging global best practices in alignment with national policies and digital transformation goals, Nigeria will have a smart, seamless and citizen-friendly government service experience, “he concluded.
In his remark, Mr Kholostenko said that Ukraine runs a digital platform known as the Diia application which is an ecosystem that encompasses all of the state registers, databases and can perform all the state and government services for citizens in one place.
He disclosed that it is the intention of his country through its Ministry of Digital Transformation to expand the reach of this initiative and provide full support for other countries to create such kind of system.
“I want to note that we are interested to expand and help other countries to make a digital state, reduce bureaucracy, reduce time for getting state services and of course, to reduce corruption risks, because human-to-human interaction is minimal,” he said.